Frequently Asked Questions About Timeshares
What is a timeshare?
A timeshare is a program in which a group of people shares the rights to use a property by buying specific time periods, usually in one-week intervals. Along with a one-time purchase price, timeshare owners pay an annual fee for property management and maintenance. Nearly all timeshares are resort or vacation properties.
Why buy a timeshare?
A timeshare is normally purchased as a vacation investment. Many times, the cost of owning a good timeshare is less than renting comparable accommodations year after year. Another advantage of owning a timeshare is the ability to trade vacations with other timeshare owners through exchange programs and travel to destinations all over the world. Non-travelers also buy timeshares simply to resell them in order to make a profit. However, this is usually only successful with high-demand properties and locations.
Should I purchase a fixed week or floating week?
The advantage of owning a fixed week timeshare is that you are guaranteed the same specific week and unit every year. On the other hand, having the option to request a week within a specified time period of each year (the floating system) allows for flexible planning. A few timeshare programs also use a rotating week system, in which your usage week changes from year to year on a fixed schedule, allowing all owners to stay during the most popular season. Choose a timeshare plan that best fits with your lifestyle.
How popular are timeshares these days?
According to the ARDA (American Resort Development Association) State of the U.S. Timeshare Industry 2002 report: