Buy because you plan to use your vacation ownership interest in the future. Consider your purchase as an investment in future vacations, not in terms of a real estate or other type of financial investment.
Choose a vacation that fits your lifestyle. Think carefully about what you value most in a vacation and travel experience, and then explore the wide variety of vacation ownership products and options available to you. Choose those options that will best suit your family’s needs today and into the future.
Visit a vacation ownership resort on your next vacation, or rent a unit to experience the quality accommodations and recreational opportunities. While there, talk to existing owners about their experiences. Many development companies also offer mini-vacations or "sampler" programs that may provide discounted options for a stay at the resort.
Read all documents carefully and understand what type of product you are being offered. Ask for a clear explanation of the terminology and terms, such as "fee simple" (a real estate interest) or "right-to-use" plan (no real estate interest).
Ask if the resort is a CRDA member. All of our Member companies have agreed to adhere to CRDA’s strict Code of Standards and Ethics. Very simply, the CRDA emblem is your best assurance of integrity and quality in a vacation ownership provider.
Look for signs of good management, such as well maintained facilities and resort amenities, good housekeeping, and friendly service. Take a look at the resort’s annual budget.
Verify the resort’s affiliation with an exchange company and learn about the resort’s internal exchange policies and member benefits.
To maximize your opportunities for exchange, buy the most desirable unit in the most popular season or the largest points package you can afford. If your primary goal in purchasing is to take advantage of the exchange benefit, know that the greater the demand for the unit or resort you "bank" for exchange, the greater exchange flexibility you will gain.
Vacation ownership is one of the most highly regulated vacation products in today’s consumer marketplace. In BC, Alberta and Ontario, provincial legislation pertaining to timeshare, real estate and/or consumer protection govern the purchase process. These laws usually address financial requirements for the developer, rescission rights, disclosures about the resort for consumers, and provisions for resort management.
NOTE: Be very careful when considering the purchase of a vacation product that sounds like a legitimate timeshare, but doesn’t offer any secured interest in a resort property or club to support your investment. Many of these “travel clubs” will promise you future vacations, but they don’t own any inventory to satisfy their members’ travel needs in the event that they should fail…and many of them do. It is important to know that CRDA’s developers always provide adequate inventory to satisfy their owners/members, and that inventory is generally secured via a variety of trust mechanisms on the owners’ behalf. CRDA continues to work very hard to rid the marketplace of those who would taint our industry; should you have any questions about a vacation provider, we encourage you to contact us first!