They don’t always let you bring your family. Here’s an area where vacation and travel clubs are worse than timeshares. Did you know many clubs only give the membership to the person who paid for it? That means, unlike with a timeshare, you can’t bring anyone you want along for a trip to some club destinations. And depending on the club, these restrictions can also apply to your immediate family! They’re hard to get out of. This one’s the kicker. It can be really difficult to get out of a timeshare or club membership if you decide you don’t like it. There’s a reason one of the first things you’ll see if you search the internet for “timeshares” is a list of companies dedicated to helping folks get out of them. Vacation Club Costs Not only do timeshares, vacation clubs and travel clubs have a bunch of confusing risks and restrictions, but they also charge a ton of fees! Let’s take a look at all the costs involved in owning a timeshare or club membership, many of which are totally ridiculous. They include:
Initial purchase price Financing costs Closing costs Maintenance fees Point redemption fees
Initial Purchase Price This is the actual cost of purchasing ownership in a timeshare, vacation club or travel club. It’s the biggest expense in owning a timeshare, but once you pay it, the timeshare is yours. Of course, there are plenty of other fees you’ll still have to pay even after dropping cash on the initial purchase price— more on those fees in a moment. The average initial purchase price of a seven-day timeshare is $24,140. With vacation and travel clubs, the price depends on the company you’re buying from. For example, Disney Vacation Club’s typical initial purchase price starts around $32,000. A Hilton Grand Vacations membership averages $22,000. And some vacation clubs also charge an annual membership fee on top of the initial purchase price.
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