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A timeshare is when a property is divided among multiple owners, each owner being able to use the property for a specific time period, usually a week, on an annual or biennial basis. After a property is built, the developer divides the units into equal times intervals. The units are then marketed and sold, giving the buyer access to the accommodations in the property for their given week. Most timeshares are sold in weekly intervals, though some resorts have longer time periods such as one twelfth or one quarter year ownership. Still other properties operate on a points based system, where the owner purchase a designated number of points that can be used like currency to “buy” their vacation days in any unit size at any resort.

After the initial purchase price, timeshare owners are required pay an annual maintenance fee. This provides upkeep for the resort and ensures that your resort stays the way it was when you purchased. These maintenance fees will vary from one resort to the next, and will cover the cost of property management, repairs, supplies, and maintenance.

There are many different types of timeshare ownership. A fixed week is when the usage falls on the same week every year. There are fifty two weeks in the calendar year, and weeks are numbered from one to fifty two. If you own week four, you will use your timeshare the fourth week of the year, every year, guaranteeing the usage for the owner. A floating week is a week that is not designated, and can be reserved subject to availability. Usually there is a specific period of the year, or season, in which the floating week can be used. Owners of floating weeks are encouraged to book their reservations well in advance for greater availability. Some resorts keep what is called a rotating weeks schedule. This type of ownership rotates the week you own each year, based on a fixed week schedule. This means, on a three year rotation, you may use week nine for the first year, week twenty five the second year, and week forty nine the third year, with the fourth year back to week nine.

With all the available types of ownership, it is important to do research about what type of timeshare will work best for you. No matter which timeshare resale you choose, you are sure to enjoy it!!

  • Buying Timeshares

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