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Saturday, June 19, 2021

A Brief Guide to Timeshares

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Planning vacations can be a nightmare. You search for hours at different websites looking for a hotel that not only is affordable but has good reviews too. And sometimes when you get there, it’s still a horrific experience.

And if you’ve ever had to sleep in one small hotel room with three to four other people, you’ve seen it all. You can imagine what that bathroom is going through.

What if there was an easy way to make sure you knew exactly what to expect when you arrived at your destination every time?

Timeshares might just be the answer you’re looking for. You’ve probably heard of these before, and you’ve probably noticed they can get pretty confusing and in some cases even scary.

There is a great deal of conflicting information about these all over the internet, and there’s a reason for that: every single program is different. This timeshare guide is to help you navigate the facts about the most common types of timeshares and how they can make vacation planning easier for you.

What Is a Timeshare?

Also defined as vacation ownership they provide you the right to use a property for a certain amount of time every year. In most cases, these are located on resorts near popular vacation destinations. This usually involves an up-front fee and an annual maintenance fee after that.

These can be deeded or non-deeded.

A deeded timeshare means that you own a part of the property. The other portions are divided amongst others that also contribute to and have rights to use the property. Deeded timeshares can be bought, sold, and inherited since they don’t expire.

A non-deeded one is more like a lease. These are temporary and provide no ownership of the property to you. Instead, they offer the right to use the property only.

Your rights to use the property reverts back to the owner when these contracts expire. Because they don’t provide any ownership of the property, these timeshares cannot be sold or inherited.

You should keep in mind that some timeshares only allow you an allotted time at the property every other year rather than every year. This is also known as a biennial program.

How Does It Work?

The portions of the property you purchased or leased are divided up by the time spent there. In most cases, that means you have a week every year to enjoy that property.

There are a few different ways this works. The three main ways they work are fixed week, floating week, and point systems.

A fixed week system means that your allotted time to use the property will be the same each year. If you agree to use the property the first week of June when you sign up, then the first week of June every year is when you have the right to use the property.

A floating week system gives you get a little more flexibility than a fixed week system. This means that you get to choose a certain week each year from a particular period of the year for you to use the property.

A point system is used by timeshare companies that own many properties. Hilton timeshare rules are a great example of this. Every year, the company you bought from allots you a certain amount of points to spend, so it allows anyone who has bought a timeshare with that company to spend those points to use any of that company’s properties each year.

The point system offers the most flexibility for choosing when and where you want to go and is quickly becoming the most popular choice for timeshares.

Advantages

There are a lot of timeshare benefits! Aside from the convenience of not having to search for a hotel, timeshares can also offer a variety of amenities and perks! Many programs offer access to swimming pools and tennis courts.

You can get access to a kitchen, separate bedrooms, and even a laundry facility. These are great benefits for families that like their space or have kids that are picky eaters.

This also means no more fighting for the bathroom just to get changed in the morning, so they’re perfect for those who like to travel with large groups.

Most importantly, it’s much more space than a hotel! Timeshares often offer large common areas for eating and lounging at the end of the day.

For those who aren’t as concerned about the size of the space provided or what amenities are offered, there are options for you too! Your best options would be timeshares for smaller spaces that don’t necessarily have all the bells and whistles.

And for those who are on a budget, some programs could appeal to you as well. Many companies boast lower overall costs to hotel options in the same areas so long as you take advantage of your timeshare consistently.

And best of all, maintenance is included with the annual fee, so you’ll never have to worry about going out of your way to make sure the property is being taken care of and cleaned.

Who Should Get Timeshares?

This depends on how you like to vacation and what type of timeshare you’re looking at.

If you like to go to the same place every Summer, for example, then a fixed-week, deeded one is probably your best option. These are perfect for people who enjoy having a routine.

If you like to go to the same area but aren’t sure exactly when you’ll get to go every year, then it would probably be best to look into one that uses a floating week system. These are a good fit for people who may need to plan around busy work schedules.

A program with a point system may be best if you like to have a lot of options. These are a popular choice for people who like to explore different destinations but still want confidence that their stay will be a good experience every time.

Overall, if you enjoy visiting popular vacation destinations, then chances are there is a good timeshare option for you somewhere.

Research Is Essential

This is true for any major financial decision. In the case of timeshares, you may have heard some horror stories about long information meetings that use high-pressure sales tactics, which explains why salesmen in the industry can earn a great deal of money every year.

The best advice would be to read the terms of the agreement carefully and to ask questions about anything that seems unclear. This is important because it lets you make sure you’re getting everything that you were promised in that meeting.

Another good thing to do would be to skip the meeting entirely until you think you’d be ready to buy. Do your research on different programs that are available from the comfort of your home instead! This way you’ll be ready for those high-pressure sales tactics when you decide to go to that meeting.

If you’re thinking about looking for a timeshare in another country, then be sure to study that countries property laws carefully. This will help you if you ever decide you want to end your timeshare.

A great way to reduce costs is to buy a used timeshare, but this is also the easiest way to get scammed. A good way to ensure this doesn’t happen is to ask to rent it from them before buying. You can also call the company that owns the property to ensure the person you’re buying from actually owns a timeshare there.

To make this search easier, there are reputable companies that deal in resales, so make sure you go through one when buying a resale.

One final great piece of advice is to try to take advantage of timeshare rentals at the location you’re considering buying from. Sometimes, when owners are unable to make use of their allotted time at the property for the year or are looking to sell, they will rent it out for someone else to use instead.

This allows you to check out the place before you buy. This is a good opportunity to speak to some of the staff, see what condition the property and its amenities are in, as well as to see what businesses are directly around the property.

Look Into Timeshares today!

These can be great opportunities for people looking to simply pack their bags and set off for their destination. You’ll no longer need to spend hours looking for the right place to stay!

Separate bedrooms mean no more worrying about disturbing anyone while going for a midnight snack. And that kitchen means space to keep those midnight snacks!

Avoid the hassle of small hotel rooms with no amenities. Start your research on timeshares today!

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