Introduction to Timeshare
How Timeshare Works
Timeshare developers sell vacation ownership interests typically in either one-week intervals or as packages of points that can be used to reserve resort accommodations. Members share in the occupancy rights of a development and therefore pay an annual maintenance fee after the initial purchase.
Why Own a Timeshare?
With vacation ownership, consumers have the opportunity to purchase condominium-style accommodations at quality resorts offering an array of amenities in popular domestic and international destinations. Millions of owners have found timeshare's spacious floor plans and home-like amenities very attractive when compared with traditional hospitality products.
Timeshare amenities often rival those of top-rated resort properties and may include children's activities, swimming pools, tennis, Jacuzzi, golf and bicycles as well as spa and exercise facilities. Other features may include boating, skiing, restaurants and equestrian facilities on-site or nearby.
Purchasing a Timeshare
When purchasing a timeshare, buyers may pay cash, use a credit card or use the loan services of a finance company. The cost of a timeshare depends largely on location, the unit size and season. Today the average timeshare sells for approximately $14,800.
Types of Timeshare Ownerships
Today's timeshare industry offers numerous purchase options to meet consumers' desire for vacation variety and flexibility, the most common:
- Biennial
- Club
- Deeded Agreements
- Fixed Week
- Floating Week
- Fractional Ownership
- Points
- Right-to-Use Agreement
