Buying a Timeshare has traditionally been regarded as a rather convenient way of taking an annual vacation in a luxury resort whilst having some of the benefits associated with property ownership.

Times have changed and buying a timeshare is no longer necessarily a solution when other comparable but more cost effective and convenient options are considered.

Luxury travel memberships, like Timeshares have been around for a number of years and like Timeshares they have typically been purchased by the wealthy. This was largely due to the high price tags associated with luxury travel memberships not dissimilar to the large upfront fees with Timeshares.

However, things have changed and luxury travel memberships are now available at a fraction of the cost as they once were.

So what is the difference between the two and why would you buy a luxury travel membership over a timeshare?

When you buy a timeshare- your ownership basically gives you right of occupancy for a specific period each year. You may also, depending on your purchase, be entitled to occupancy in various timeshare locations around the world. Sounds pretty good?

However timeshares have large upfront fees, maintenance fees and ongoing costs. There is also limited flexibility in the dates in which you can travel, commonly known as ‘black out’ periods. Timeshares are an expensive way of having an annual luxury vacation and they tend to be an inflexible way of vacationing.

There is however a good possibility of your timeshare appreciating over time which may compensate the discerning buyer for some of the downsides. Like all property, this will depend on the location of the timeshare.

Luxury travel memberships ordinarily have a one time upfront fee which is typically far less expensive than a timeshare. A membership can give you access to a catalog of up to several thousand properties all over the world. There are no blackout dates, no ongoing fees and no limit to the number of weeks vacation that a member can take.

The downside is that you will pay a nominal fee for your vacation, but it is at a significant discount to the normal retail price. Five star resorts can be purchased for less than $300 for the entire week in many cases.

One of the many unknown and less talked about features of these memberships is that by referring other people who subsequently purchase the membership, a significant commission can be earned by the referrer. Many buyers of this membership are not likely to engage in this offer, however, two to three referred purchasers can effectively pay for your lifetime membership. Thanks to the wonder of the internet, you can do all of your research and due diligence from the comfort of your home, at your computer.