Tell Me About Timeshares
For a simple explanation, a timeshare allows the owner to stay at a vacation property/resort for a week. To give more details about timeshares, you have to ask and answer these questions:
How much does this timeshare program cost?
You can buy it from the resort property or Timeshare Lifestyle. In all cases, there is also a yearly maintenance fee associated with the ownership in the timeshare program. The cost of the timeshare and the maintenance fees will vary greatly depending on supply / demand and the vacation property itself.
How often can you use the week?
This depends on the interval of the timeshare, which can be annual, even years, odd years, or some other type of interval.
What can I do with my timeshare week?
Once you own a timeshare week, you can do the following (all of which are all very common):
- You can use the week and stay at your resort property. Timeshare properties are nicer with more amenities than hotel rooms. In general, you should have VIP treatment, as you are an owner at the resort. Enjoy your vacation!
- You can generally trade your week for another resort of similar value. This entails depositing your week into another program. (Look at RCI and II).
- You can sell your week back to the resort or find another buyer, with a service like Timeshare Lifestyle.
- You can rent out your week or give the week to a friend. Many times, the owner can rent out their week and generate some cash from renting the week for more than the maintenance cost.
What are timeshare points?
Timeshares can also involve a point system where points represent the quality of the timeshare property and are purchase or obtained from the vacation property. Points are used to measure season value, accommodation size, and overall trading power. Most resorts with point systems allow you to borrow or bank points from other years.
