Timeshare, which type is right for you?
We get questions on a regular basis where people are wanting our opinion on what type of timeshare is right for them. I would like to first tell you to do your homework before purchasing a timeshare. Many times I see that people get overwhelmed by the values on eBay and before you know it, you have bought 3-5 timeshares. What they do not realized is that there are maintenance fees due with these timeshares and they just got a bit caught up in the moment and thought they were too good to pass up. I will tell you that these deals are on here most of the time. So do your due diligence!
Let's look at the different types of timeshares that you can own.
- Fixed weeks - This is where you purchase a certain week of the year and you go to that resort each year on that specified week. This is usually for the person who wants to go to a specific area and/or wants to trade that week through the exchange companies. A popular fixed week example would be Hawaii on Christmas week.
- Floating weeks - This is where you own a week at a resort and that resort has a specified period within certain periods and not necessarily a certain week. An example would be owning a week that floats weeks 1-12 and 44-50. What this means is that from week 1 through 12 and week 44 through 50 each year you can reserve a week in that time period. This is a flexible type of ownership, but it is based on availability. There are times that you can loose your week simply because everyone beat you to those weeks. It is a very popular type of ownership but does require some earlier booking requirements.
- Points - There are many different types of points ownership. There is RCI points, Hilton points, Wyndham points, Marriott points and many others. Quite frankly, not one of them works the same as the other! This is the way that timeshare has been going and I fully expect within a few years, everyone of them will be in the points system. It is by far the most popular type of ownership today. An example I will use is 154,000 Wyndham points. This would equate to a 2 Bedroom for one week. Where they tout it as flexible is that you can also use it for hotels, nightly stays, airline tickets, and even Disney tickets! In my opinion, the best value for your points is using them in resorts, period!
Also, please feel free to email me through the store link.
John Wells
TimeshareBargains
Guide created: 09/21/08 (updated 04/08/09)
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