Owning a timeshare is a great way to have
guaranteed vacation time is a wonderful property. You will get
scheduled weeks each year in which you can stay in the property or
you can let your friends and family stay there. If you would like to
make some extra money you can even rent your weeks out. Your
timeshare will have all the furniture that you need, including beds
and couches and probably even a kitchen.
Each timeshare is split into 51 week long sections.
The left over week is reserved strictly for maintenance and any
repairs that may be needed. When you purchase a timeshare you will
have to make a one time large lump sum payment and every year after
that you will also have to pay a maintenance fee. There is no
guarantee concerning this maintenance fee and it may rise over
When most of us think of timeshares we think of
apartments or condos but the fact is that this unique concept has
been put to use with many other things including planes and even
Timeshares are a wonderful way to make sure that you
will always have the best vacation possible each and every ye ar.
And if you get sick of your vacation spot you can switch weeks with
other timeshare owners from another country. This is a great way for
you to see the rest of the world in the style that you are
Having a timeshare does not mean that you need to be
stuck in one place every time that you take a vacation. You can swap
your timeshare weeks in order to visit many other places in the
world. Timeshares are popular everywhere and there are programs for
timeshare owners like you who want to get out and see the world. You
can trade weeks with someone in Italy or France, or anywhere else in
the world that you might want to visit. In fact many of the resorts
that offer timeshares allow you to do these sorts of trades in
house. Many of these resort companies have resorts all over the
world and some of them will allow you to switch off your week with
ease. When you do trade timeshare dates like this you will not be
trading up in most cases. Chances are you will be getting a unit
that is very similar to yours, not necessarily in the layout but in
the number of rooms and such.
Whether or not your timeshare company offers these
types of services you should still join one of the many timeshare
exchange companies. These companies can be found easily online. They
will make it easy for you to find just the right people for you to
swap timeshares with this year. Resort Condominiums International
(RCI) and Interval International are two of the most popular
exchange services. They are vast and they have been around for many
years and millions of people can vouch for their wonderful success.
You will never have to pay much to take part in these exchanges,
some exchange companies will have small fees but that is all and not
only will you get to talk to those who will help you, you will even
get catalogs of timeshares that you can choose.
When it is time for you to take the step and make the
switch it could not be simpler. All you need to do is contact the
company and they will tell you step by step what you need to do. If
you have any problems or any questions they will help you, all you
need to do is ask.
The best part of exchanging timeshares is the
flexibility involved. When you join these programs you can them have
your timeshare put into the bank of other timeshares. You will then
be able to browse through all of these timeshares in order to find
the one that is right for you. The timeshare that you choose can be
anywhere and the best part is that the vacation that you choose does
not have to be on the same dates of your timeshare. You can choose
any timeshare in your range.
There are ways in which the priorities of the
timeshares are decided and they are the quality of your particular
timeshare f or one. If your timeshare is not that great you may not
be able to choose the most posh resort to exchange it with. Another
thing that will be considered is the demand for your resort, the
demand for your area of the world and of your dates. The size is
considered as well.
If you want to get the best deal possible out of your
swap then you need to learn a few tips to help you out. The earlier
that you deposit your timeshare the more chances you will have to
find just what you are looking for. And once you have made the
difficult decisions like where you want to go make sure that you let
the company know right away so that they can keep an extra eye out
for you. When you are giving them the info about where you want to
go do not restrict yourself to only one place, give them a few
different places and dates, you might not be able to get your first
choice so backups are always a good idea.
Trying to Get Rid of a Timeshare?
Timeshares can open up a whole new world of
opportunities to you and your family, all you need to do is take
advantage of these opportunities.
When it comes to timeshares, some people use them and
some people don't. But what they have in common is that they all
have a great sales pitch.
Buying a timeshare gives you the right to vacation at
a resort for a few weeks every year. It sounds great. But most
people don't use them like they thought they would.
And worse than that, they finance them and keep paying
for them every month of each year. Even when they aren't using them.
Sooner or later, the timeshare owner realizes it would have been
less expensive if they had just booked a room instead of purchasing
Most people pay too much for timeshares. They don't
even bother to negotiate the price. But when they try to sell their
timeshare, they find that they can't sell it for what they purchased
it for. Selling timeshares person to person is not easy.
What can you do? You are stuck in the loan. If you
don't have a loan, you are legally required to pay the annual
operating cost on the timeshare. Stop paying the loan or the
operating cost and it will ruin your credit report. This results in
higher interest rates, fewer loan options and even higher insurance
If you want out of your timeshare, you can ask the
developer to buy your timeshare back. If it is a popular destination
that is doing well, you may be lucky. But you will lose money on it.
Often, developers will consider selling your timeshare
for you, taking a commission on the sales price. This often works
well as the developer specializes in selling that particular
There are several online services that will also list
your timeshare, just like real estate. But you should always be
Whether you are selling a timeshare or a vehicle,
there are scams out there that will try to take your property and
your money. When it comes to timeshares, someone could contact you
about buying your timeshare and request personal information, such
as your banking account or other information, in order to transfer
money directly into your account, but instead they make a withdrawal
using your information. Others may contact you asking for an upfront
payment in return for the guaranteed sale of your property. Then you
never hear from them again.
If your timeshare loan is paid in full, you can get
out of the operating cost by donating your timeshare to charity. The
tax deduction will be small and few charities accept timeshare
donations. But at least you will be able to get out of the
Or you could simply give it away as a gift. Many
people are willing to take on the financial responsibility if they
get the timeshare for free. But beware, no matter if you give it
away or take a loss on the sale of it, it is not considered an
investment property. It is personal property and the loss is not tax
deductible unless you donate it to charity.
Fees associated with timeshares
Timeshares are convenient and in most cases they are
worth every penny but there are some fees associated with timeshares
that many people find hard to deal with. Before you choose a
timeshare to buy into you need to find out what fees you will be
responsible for and how much you are expected to pay each year.
One of the first fees that you will be hit with is the
recording fee. This fee is a fee that is charged on all deeded
properties. These fees are not large and they will be paid to the
county where the timeshare actually is not the county in which you
The transfer fee is another fee that you will have to
contend with if and when you are selling your timeshare. This fee
will come into play as soon as you transfer the property from you to
another. Different timeshares have different transfer fees, there is
no way to calculate this without talking to the resort.
Chances are that the biggest fees that you will have
to pay are your maintenance fees. These fees are paid each year and
they not only take care of your upkeep, they also cover your
property taxes, your insurance costs, your electricity and your
cable. All of these types of payments are made by the money
collected for the maintenance fees. The upkeep includes any repairs
that are needed. For instance if the unit needs new carpeting or the
furniture needs repairing. You will find that not all resorts have
the same maintenance fees, each resort will come up with their own
fees to cover maintenance. This fee will not remain steady over
time. Each and every year it will rise anywhere from 2 percent to 4
Seasons of a timeshare
In most timeshares you are going to find that each
week of the year, all 52 of them are numbered. You will be buying
one or more weeks. The numbers of the week begin with 1 for the
first week all the way through 52.
Many timeshares have floating periods also called flex
periods. These periods are often broken down into seasons that are
called blue, white or red. These floating periods add flexibility to
your timeshare agreement because your check in dates can be
different. So which season is which? Which one do you want to get in
The red season is the peak season. This is the season
that everyone clamors to get in on. It will be hard to get this one
as it is always the first to go and they are the most expensive. The
blue season or off season is the least popular time of the year. If
you are visiting in this season things will be much more quiet and
relaxed. While there may not be as many exciting things happening in
the blue season many people still like it because it gets them away
from all the hustle and bustle of the peak season. The white
season is in between the blue and red seasons. This mid season plan
is great for those who want a timeshare but who cannot quite afford
red or peak season rates. When you are white you will be able to
check in during off season and mid season.
What kind of timeshare is right for you?
If you are thinking about getting a timeshare then you
need to decide what type of timeshare that you want to get. There
are many different forms that this arrangement can take and you will
find that most resorts only offer one. Each resort will have their
own way of doing things in order to keep things simple. You may have
heard of fixed week, floating time, points or multiple location
resorts. This article will give you the basics of each of these
types of timeshares.
Fixed week timeshares are by far the most common form
of timeshare. There are 52 weeks in every year and each of these
weeks are numbered accordingly. When you buy into this timeshare you
will be allowed to stay at this timeshare each year for the amount
of weeks that you have purchased. You do not only have to
purchase one week, the number of weeks is up to you and your budget.
This is a nice way to have things set up because there will never be
any question about whether you can stay at your vacation home.
With the fixed week program you may, depending on the
resort, be able to switch your week if something were to come up and
you could not make it on your dates. If this happened you would be
able to stay in a room at another resort in a season like yours. The
dates will all depend on you and what is available. This is a
"floating" option that many fixed timeshare programs have.
When you buy into floating time rather than fixed week
programs you are not purchasing weeks you are purchasing unit size
and season. Your dates will have to be worked out well in advance so
you will need to contact the resort in order to find out when it
will work for you and when you can get a room. The majority of check
in times are on the weekends. One of the nice things about floating
plans is that they are quite flexible but on the other hand dates
and times are generally decided upon a first come first serve basis
so if you know when you want to stay you had better book it early on
or you will not stand a chance.
There is another new way to timeshare that is in the
works and that is points. This is an interesting concept. Each year
you will be purchasing a select number of points and you ca use
these points however you want. You can use them to get different
sized rooms or to stay at the resort during different seasons. The
choice is yours.
If you are in the market for a timeshare then you will
want to look into each resort that you are considering. You will
want to find out if some of your choices have multiple resorts.
These resorts are much better to get involved with because you might
be able to trade your weeks in order to stay in their other resorts.
This adds even more flexibility to your vacationing and you will
never get bored from staying in the same place all of the time.
Another common and popular choice for those who own
timeshares is timeshare swapping. This is an amazing opportunity to
see the whole world. You can get in touch with others just like you
who own a timeshare but who would like to see somewhere different
this year. You will be able to trade resort rooms. You will stay in
their timeshare and they will stay in yours. It is the perfect
solution for everyone. You will find many different organizations
that are dedicated to matching people up for this