Types
Timeshares can be many different types of vacation homes. Houses, cabins, condos and villas are available in America's most desirable vacation destinations. You can own a beach house in Florida or a cabin in Colorado.
Time Frame
When you own a timeshare you own a period of time to spend at that particular vacation property. The time slots are typically sold as weeks. You are guaranteed a vacation at your timeshare during the week you purchase. Some vacation clubs sell timeshares on a point system. You purchase the number of points required for the vacation you would like to take annually. This does vary slightly depending on the property you buy.
Function
Your timeshare property is your vacation home. You will be living there as you would at home. Although some properties provide housekeeping and personal chef amenities for a fee, the typical timeshare is a home away from home.
Considerations
There will be some years when you will not want or may not be available to vacation at your timeshare property. If you decide to vacation elsewhere or cannot travel during your designated week, you may choose to rent the timeshare to someone else or let a friend or family member use your time. In addition to the purchase price of your timeshare, there are annual maintenance fees paid to the management company. Make sure that you fully understand all policies before signing any contracts.
Renting a Timeshare
If you are not interested in buying a piece of your favorite vacation destination or know you would not travel there regularly, you may decide to rent a timeshare property. The cost is usually lower than staying in a hotel for a week and you have the freedom and space of a vacation home.
