What is a Timeshare?
A timeshare is a vacation property that is shared among several owners. Many frequent vacationers are turned off by the idea of throwing money away at temporary accommodations like hotels and motels; but aren’t able to afford a second vacation home. A timeshare is a long-term solution to the lodging dilemma because it allows guests to secure accommodations wherever they travel, for a fraction of the cost of other housing options.
How Do Timeshares Work?
When you buy timeshare you’re actually buying the right to use your vacation property for an increment of time. Most resorts sell timeshare in one-week increments, but you can choose to purchase as many, or as few, of these “shares” as you’d like. That might mean one week every third year, or it might mean two weeks per year. It all depends on your vacation availability. You’ll select your week usage and you’ll pay for only what you use. Other owners will do the same; thereby significantly reducing the cost to each owner.
Will I be Limited to One Location?
No. One of the most favored benefits of timeshare resales is their flexibility. Because your purchase is essentially one of time, it’s easy to exchange your week at your “home resort” for a week at one of nearly 4,000 resorts worldwide. In order to ensure this flexibility though, you’ll want to buy timeshare that is affiliated with an exchange company like RCI. These companies will allow you to trade your Hawaii timeshare, for example, with one in England, China, Australia or Greece.
How Can I tell if Timeshares are Right for Me?
You’ll want to take your vacation lifestyle into consideration. If you travel frequently, for example, timeshares can help cut down on the expense and hassle of travel planning. Another way to tell if timeshares are right for you is to rent timeshare in a few different locations. Not only will renting give you an up-close-and-personal insight into the timesharing lifestyle, it will also help you decide where you’d like to buy timeshare, should you decide to do so in the future.
Are Timeshares Expensive?
That depends on a few factors. As discussed above, timeshares tend to be more budget-friendly than renting a hotel room every time you travel, but depending on the location and ownership of your property, prices for timeshares will vary greatly. You can save thousands on your timeshare purchase when you buy resale, as opposed to directly from the resort.
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February 26th, 2008 at 10:01 am
Great piece, I’d wondered if the benefits of traveling through vacation ownership out-weighed the negative buzz that once was associated with timeshares. Thanks for the tips, I’ll be considering this for my next trip back home.