What Is a Timeshare and What It Isn’t: Real Talk from a Happy Owner of 15
It’s a legal contract and long-term financial decision that you should thoroughly understand and think through before buying. No matter what a salesman tells you, timeshare purchase deals will still be available after you get home, so take your time.
What Is a Timeshare Ownership?
Today, a timeshare isn't just one thing! The timeshare industry offers various products to match people's different lifestyles and vacation preferences.
There are four different types.
1. A Fixed Week This type of timeshare ownership means you have the right to use a particular room type a specific week every year.
2. A Floating Week A floating week timeshare means that you aren't guaranteed the same week every year for vacation; you need to call the resort to reserve a room.
3. An Allotment of Points According to the American Resort Development Association, an annual allotment of points is now the most common type of timeshare ownership. Based on your purchase package, owners receive a set number of points a year that act as currency they can use to make resort reservations within their timeshare chain.
4. Fractional Ownership
The rarest type of timeshare is fractional ownership (or a shared deeded ownership) which happens to be the type of timeshare we own.
What Is a Timeshare Resort? While some people may think a timeshare is a small 1970's resort past its prime, Disney's Saratoga Springs, Waikiki's Hilton Hawaiian Village, Marriott's Ko Olina, Four Seasons Residence Club in California, and other brand name resorts are timeshares.
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