A timeshare is a lifestyle vacation product also called vacation ownership. Vacation ownerships are resort units that permit owners to increase their vacation times. As a timeshare owner, you pay for vacations upfront, saving you money during travel. From these, a timeshare is a vacation or resort property split in fractional or share ownership. The ownership can be weekly though they vary depending on the resort and the developer. In simpler terms, you share a unit with other people, but you have your specific assigned week to occupy.
How vacation ownerships work
Are you planning to buy vacation ownership? Do you own a time share? If yes, you might have a clue about different vacation ownerships available today. Initially, the vacation ownerships were on fixed weeks. Currently, you can access the point-based system, giving you greater freedom and flexibility. In order to sell your timeshare, you need to follow certain steps and procedures. Not only will you want to ensure that you get a fair price for your unit, but you’ll also want to make sure the entire process goes smoothly.
The fixed-week vacation ownerships
When vacation ownership started, families used to buy the one-week timeshares. They were for specific units for use for that time every year. There isn’t a change in week numbers in this fixed-week vacation ownership. The weeks usually have a particular number, from the first week of January to the last week of December. The checking dates in these timeshares can start from Friday to Sunday.
The advantage of the fixed-week vacation is that you won’t have to plan earlier before booking. You are sure of your time every year when you will use your timeshare. It’s also possible to rent out your timeshare if the demand is high and you won’t be going on vacation.
The floating week vacation ownerships
The floating week is much more flexible than the fixed weekly. The floating week will allow you to book for any week of the year using a first come, first serve basis. Sometimes, the floating week gets restricted to specific seasons of the year.
Points-based vacation ownerships
It’s the current most popular timeshare ownership. The point-based vacation ownerships vary depending on the clubs in question. For some clubs, the owner has to buy a specific number of points for use at any resort. It’s most applicable in clubs that use pure points memberships. At some point, some clubs can provide an option of converting the fixed week vacation ownership into points. It thus increases flexibility. In such a case, your total points in a year depend on your unit size, home resort popularity, seasons, and much more.
Every year you will get the annual allotment points. The allotment will give you control and flexibility about where and when to book. You will access resorts and hotels of all sizes in different seasons with the varied length of stay.
The timeshare seasons
For the case of points-based and floating week timeshares, you may wish to book at a specific season of your club. The timeshare seasons are the yearly periods that record low and high season popularity. Clubs use unique naming conventions like red, silver, or gold. You will get your floating week designated for use in a specific season. You may need prior planning to get the exact dates that you need.
Conclusion
Timeshares are much better than typical hotel stays. A hotel is primarily a small common area with one or two beds with a tiny bathroom. Timeshares are homes away from home. They offer large common areas, private bedrooms, a balcony for a scenic view, and a kitchen. If you are looking forward to a good holiday or vacation stay, timeshares are the best options. They will fulfill your dreams and make your stay memorable.
