What are Timeshares? - Better Understanding of What a Timeshare Offers

by Keith Littlejohn - Date: 2007-04-26 - Word Count: 431 Share This!

Timeshares are your chance to secure your vacations at a luxurious resort year after year!

Timeshares, by definition, is a type of ownership of a vacation property. It is a widely accepted model, by which you can purchase the right to use a vacation resort for a given week or weeks every year. The major advantage is that it costs you only a fraction of the cost of fully owning the property. The resort management takes care of the day-to-day maintenance and the costs for this upkeep are shared among all such part owners. Most of the timeshares are condominium resorts but as the concept is catching on, it is being applied to houseboats, yachts, cruises etc. as well. Many large hotel and resort chains have entered this sector, enhancing the quality of the timeshare vacation model.

Timeshares are generally sold as weeks - either fixed or floating. As the name suggests, the fixed week ownership gives you a fixed time each year at your home resort. The floating week system is more flexible where you buy weeks in a particular season, from which you choose your preferred weeks in advance. The more recent points system is another form of timeshare ownership where you buy a given number of points, to be used like money to buy time at a resort of your choice.

You can buy timeshares as deeded or right to use contracts. The former allow you to use the property for a given number of weeks and are sold as fractional ownership. Right to use contracts give you ownership for a limited period after which all rights revert to the property owner.

To break the monotony of spending vacations at your home resort, you can also exchange your weeks for equivalent stay at another resort. All you need to do is deposit your timeshare week with a reputed exchange company to be exchanged for use at a later date in a different resort. If you decide not to go on vacation in a particular year, you can club the weeks for that year with that of the next year or if you wish to extend your vacation, you can also borrow from the coming years!!

You not only can use the timeshares yourself, you may even rent, gift, sell or will it to anybody you wish. There are many companies that help you buy, sell or rent timeshares, and most of them host Internet websites.

The flexibility afforded by timeshares has made it one of the fastest growing sectors of the holiday industry and is set to become the way the world vacations in future!!

Related Tags: what are timeshares, what is timeshare, whats a time share

Information About Buying A Timeshare

Timeshare Exchanges - Trade Your Vacation for a Better One
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