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What are Timeshares and How do they Work?

A timeshare is a way for individuals to share the economic burden of vacation property ownership with multiple owners. Timeshares might seem intimidating, but the concept is really quite simple. When you buy timeshare, you're essentially purchasing an increment of time at the resort of your choice. You can choose to purchase whatever block, or share, of time works best for you and your family, from three weeks a year to one week every third year.

Other owners will also purchase time at the resort and they'll use the unit when you're not. The cost will then be divided among all of you, thereby significantly reducing the cost to each. Additionally, with so many owners "pitching in," the amenities and level of service are generally greater than what you'd find in a hotel room of similar quality.

Are Timeshares Expensive?
Timeshare's expense can be expressed in relative terms. If you're a frequent traveler, owning a timeshare can essentially save you thousands. It's generally less expensive than renting a hotel room every time you travel; and when you buy timeshare resale you can often save thousands off the resort price. Of course, timeshare properties vary in their monetary worth. Properties affiliated with big-name travel corporations like Marriott, Westgate or Wyndham will generally be pricier than lesser-known properties, but that doesn't necessarily mean you'll be sacrificing quality by purchasing at a more inexpensive resort. You can determine what's right for you by renting timeshare.

Renting Timeshare?
Timeshares aren't just for sale. Many owners who aren't able to use their resort for a year, for whatever reason, will put their property up for rent to help offset the maintenance fees. Timeshare rentals are a great way to introduce yourself to the timesharing lifestyle, and they're also an excellent opportunity to explore a couple of different resorts. Try renting time at a Marriott timeshare one year, and with a lesser-known company the next to determine if the difference in quality is noticeable and/or affects your enjoyment.

Will Timeshares Limit my Travel?
No! Contrary to popular belief, a timeshare won't tie you down to one locale for the life of your contract or deed. Rather, they're extremely flexible, allowing you to trade in your time at your "home resort" (the resort that is deeded or contracted to you) for time anywhere in the world.

Timeshares exist on all continents and nearly all countries; your favorite vacation spot is more than likely host to numerous timeshares. Some of the most popular timeshare destinations are Hawaii’s “Big Island”, Orlando Florida, Mexico and, of course, Las Vegas. However, with the flexibility of timeshares you can visit places like Alaska, Russia, India and China as well. You are limited only by your own imagination and craving to explore new places!

How Can I Trade My Time?
It's simple. You can either choose to purchase time with an expansive vacation club like the names mentioned above, wherein ownership of one of their properties will give you access to all of their locations. You can also choose to purchase a lesser-name property like those discussed above. In this instance, you'll want to ensure that the property is affiliated with an exchange company like RCI or Interval International. These companies create affiliation with resorts all over the world. They then offer membership to owners of these properties, which in turn allows the owners to exchange their time at their home resort for time at any resort, of similar quality, in the network. Both methods have their benefits and drawbacks and you'll want to conduct a certain level of research to determine which is most appropriate for your vacation lifestyle.

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