Well, there is a lot to learn and know and I strongly suggest you do your homework!There is no way we can cover everything here, but we will touch on some basics.
Types of Time-share Ownership:
Deeded: You will have a recorded "Deed" with this type of ownership. Your period of ownership is forever.Right-to-Use: This type of ownership is for a set amount of time. After the agreed time of ownership expires, ownership converts back to the Grantor. During your ownership, you can convey your ownership to another party.
Membership: This is not an ownership, it is a "Membership". You pay a large sum of money to buy into the membership plus there are annual membership fees. Be very cautious of this type of Time share. Usually the language in the membership agreement states: if you miss one of the annual payments, your membership will terminate. Some of these memberships can be transfered, some can not.
NOTE: Some Resorts also offer bi-annual ownership. (check your paperwork)
Periods of Time-share Ownership:
Usually your time share period (check-in date) is numbered from 1-52. Week "1" starting in the first week of the year. Week "52" being the last week of the year.Then there is "Floating/ Flex" periods. Which can be divided into Seasons (Blue Floating/Flex) (White Floating/Flex) (Red Floating/Flex). If your ownership is for a Floating/Flex period, you can check-in on different dates according to your ownership.
Blue Season (Good): Also known as "off season". This would be the time of year which the Resort and location is of the least demand. If you own a "Blue Floating/Flex" period, you will only be allowed to check in during these "off season" dates. If you are planning to buy a "off season" week, plan on getting it for a cheap price.
White Season (Better): Also known as "mid season". This would be the time of year which is between "Off Season" and "Peak Season". The time of year right before the "Peak Season" starts and right after the "Peak Season" is over. If you own a "White Floating/Flex" period, you are allowed to check-in during the "mid season" and the "off season" dates. If you are planning to buy a "mid season" week, plan on getting it for a reasonable price.
Red Season (Best): Also known as "high/peak season". This is the time of the year everyone wants to be at the resort (highest demand). If you own a "Red Floating/Flex" period, you can check-in any time of the year. If you are planning to buy a "peak season" week, plan on paying a pretty penny for it.
NOTE: Interval International (an exchange company for timeshare) rates Blue as Green, White as Yellow and Red as Red.
Size of Time-share Ownership:
Studio: A small unit, usually similar to a hotel room. Sleeps two, sometimes four.One Bedroom: Similar to a small apartment: a livingroom area, kitchen area, with a private bedroom. Usually sleeps four (two in the bedroom and two on a pull-out sleeper sofa in the livingroom area).
Two Bedroom: Usually sleeps six (two in one bedroom, two in the other bedroom and two on a pull-out sleeper sofa in the livingroom area). Some two bedroom units can sleep eight, if it has a loft.
Lock-Out: These units vary in size, usually divided into two seperate apartments. Each with its own livingroom and kitchen areas. If you own a Lock-Out unit, you can use one and exchange or rent the other. These units can be big enough to sleep eight to twelve people.
Now it is easy to see that a Deeded two bedroom unit during "Peak Season" would cost a lot more than a Studio unit during "Off Season". Of course, there are other factors to the value of a timeshare unit, but this is the basic frame work of timeshare value.
Costs of Time-share Ownership:
Purchase Price: The amount of money paid for ownership plus any "transfer fees" (can range from $50 to $500).Maintenance Fees: The amount of money paid annually for maintenance of your unit. This amount can range anywhere from $100 to $700.
Property Tax: The amont of tax to be paid by you for your time share unit. This amount is usually reasonable, ranging from $10 to $100.
Special Assessment: This the amount of money the Resort can require you to pay on a un-regular basis. Usually for a remoldeling project, check your timeshare documents for the max amount they can charge you and how often they can charge you. This amount can range from $20 to $400, you may want to check the Resort history record for past amounts and times.
Time-share Resale:
Why not buy a time share directly from the owner?: Buying a time share dircetly from an owner can save you thousands of dollars....No Commissions....No Promotional Costs. Check our time share classifieds here.Sell my Time-share:
Why not sell your time-share yourself: The internet is the best tool for time share owners. You can advertise your time share for sale worldwide today!
Time-share Rental:
Why not rent before you buy? If you want to check out a Resort or a certain location contact one of these people for a great rental bargain.
Rent my Time-share:
Can't make it this year? Why not rent your time share to someone else? Advertise your time share for rent worldwide today here!
Time-share Exchange:
Do you want to go to a different Resort? Check these listings for people who would like to exchange their time for another.
Exchange my Time-share:
Not satisfied with past results? Why not do it yourself? Offer your time share for exchange worldwide today here!