What are Timeshares?

Does the thought of owning a vacation home excite you? If yes, then it's time you invested in a timeshare. But what are timeshares?

To understand 'what are timeshares'; you will first need to understand what defines a timeshare. It's a piece of real estate that is commonly owned by a number of individuals. Timeshare properties can often be found in warm destinations where people prefer to vacation. For instance, coastal towns and cities in Florida (Daytona Beach) and South Carolina (Hilton Head Island) have a huge number of timeshare properties.

They can also be found in cold weather areas (ski resorts in Colorado). Most of these timeshares are located in resort communities. The next logical question follows why don't people simply book a hotel room instead of buying a timeshare? Timeshare gives the owners a villa-like experience and is far different from the feeling of being locked up in a cramped hotel room. A fully furnished kitchen, swimming pools, spa, multiple bathrooms and roomy bedrooms are some of the common features of most timeshare properties.

Timeshares can be sold or passed down to heirs, as is the case with any other form of real estate, however this depends on the nature of ownership. Some people not only look at timeshares as a means to enjoying a great vacation, but also as an investment. In the event of the owner deciding not to use the property, he can rent it or even put it up for a resale. However, this comes with the caveat that timeshares should be best considered as holidaying options and not as a great investment opportunity. In most resell cases, even large timeshare units with prime season or flexible weeks sell for only 30%-55% of their original prices. Fixed week ownership is the most common form of timeshare ownership.

A fixed week guarantees your accommodation at the resort for that week and that week only each year. In most cases, you may exchange your accommodation for a stay in another resort, but your power to trade for the destination and the time you want is restricted by the type of week you own. Timeshare also have more flexible floating week ownership. However, a floating week varies according to different resorts and you need to make sure if the week is floating the entire year, or is restricted to a particular season. Now that you know what are timeshares; it's time you steal time from your busy schedule and start planning your next vacation destination!

Introduction To Timeshares