Are you ready to take the plunge? It's important to know all of your options before buying or renting a timeshare. A timeshare is actually a vacation property, which usually requires a long-term investment. Those who rent timeshares or sell timeshares understand this very well. So should you as the buyer. Read below to discover your options when buying a timeshare.
Know the Types of Timeshares:
*Deeded Property
A conventional method of buying a timeshare is to completely own the deed to the timeshare. This means you own it fully until you decide to sell the timeshare or give it away. Deeded timeshares are great if you plan to keep it for a lifetime and use it faithfully. You can even leave the timeshare to an heir, the same as you would a home or other properties.
*Life Property
With a life property, you can use the timeshare yearly for your entire life. Unlike the deeded property, the life property benefits end when you die. The timeshare cannot be passed on to an heir.
*Leased Property
A leased timeshare is one you can use for a specified number of years. You do not actually own it, but are leasing the vacation property as you would a temporary home or vehicle. With this option, you will rent the timeshare until your lease expires.
*Fixed Week Timeshare
With a fixed week timeshare option, you choose from numbered weeks of the year and use the same week each year. This guarantees your week in the timeshare so you'll always know when to plan your vacation.
*Floating Time and Points
With the points timeshare option, you purchase credits or points and use them as you wish during a specific season. The unit sizes may vary according to your needs and/or availability. For example, you might take two short vacations instead of one weeklong vacation. You use up points as you reserve nights at the timeshare unit. On a similar note, a floating time option gives you flexibility in the weeks you take within a season as well as with the unit size. However, you must make reservations in advance to confirm when you will arrive. Both floating time and the points option are great if your vacations are taken at different times each year, however, both options are dependent upon the timeshare's availability.
*Timeshare with Multiple Locations
Some timeshare companies sell timeshare space that can be used in multiple locations. For example, a timeshare owner might choose to vacation using Orlando timeshares for several years, then switch to Tahoe timeshares, and then to Las Vegas timeshares. This is great for those who love to travel.
To decide which timeshare option above is right for you, consider your vacation schedule, the location where you will buy or rent a timeshare and your available budget for buying a vacation property. If you wish to keep your vacation dates flexible, consider the points or floating timeshare options. If you love to travel to exotic places, try the multiple locations option. If your heart is fixed on a favorite vacation spot for life, try a deeded, life or leased timeshare option.
Fortunately, there are timeshare companies to help you find that perfect timeshare to meet your vacation needs. These companies usually sell timeshares, lease or rent timeshares, and even buy timeshares from timeshare owners. You can let them do the research for you.
Most importantly, choose a timeshare that you can enjoy for many years. Owning a fun and relaxing vacation property can be priceless!
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About
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Chris Robertson is a published author of Majon
International. All Rights Reserved. Copyright 2009 (Mon Aug 28 2006)
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