Consider Timeshares

November 2, 2007

Information donated by Sell My Timeshare Now

If you’re like most travelers, you’re anxious to get to the fun part. But hassles like securing lodging can put a damper on your vacation. One somewhat overlooked yet generally convenient method of securing accommodation is to buy timeshare. Timeshares are a way for individuals to share the economic responsibilities of property ownership with several other owners.

Here’s how it works: a purchase of timeshare is essentially a purchase of time, or the right to use a unit (at the resort of your choice) for an increment of time. You’ll select your usage based on your vacation availability and you’ll be afforded annual or biennial vacation time. Other owners will use the unit when you’re not, and the cost will be divided among all of you. Not only does this shared expense cut down on the price of the unit for the individual, it also ensures that the unit will generally be large and well appointed.

As noted above, the shared ownership that timeshares provide is certainly a budget-friendly alternative to renting a hotel room. However, there are a few things you’ll want to consider before deciding whether or not to purchase timeshare. First, you’ll want to determine what size share you’d like to purchase. Shares generally come in the form of weeklong usage. The most common share is 1/52, which will afford you one week every year. If you foresee yourself taking more vacations every year, you might want to purchase a larger share (2/52 or 3/52 for example), while less vacation availability will make for a smaller share (perhaps biennial usage.) It’s important to consider this aspect before you buy because, as money saving as they can be, timeshares only work when you use them. It doesn’t make sense to purchase too large a share, as you’ll still be responsible for the maintenance fees even if your week goes unused.

You’ll also want to determine whether it’s important for you to purchase an affiliated property. When we speak of affiliations in this context, we’re referring to linkage with an exchange company like Resort Condominiums International (RCI) or Interval International (II). These corporations create affiliations with resorts all over the world and give you the option to trade your week in your home resort for a week anywhere within the network. It’s estimated that up to 70% of timeshare owners use their property to travel, but affiliated properties can be a bit pricier than non-affiliated ones. Many vacationers find it more than worth the extra expense to be able to travel the globe with their property, but you’ll want to determine if that’s an option you’d like to account for. Take your time, do the research, and see if timeshares are right for you.