time-sharing

/tie-m sh-air-ing/
verb

Timeshare is a term used to describe a method of use and/or shared ownership of vacation real estate where purchasers acquire a period of time (often one week) in a condominium, apartment or other type of vacation accommodation.  Timeshare is also known as “vacation ownership.”

What Is A Timeshare?

A timeshare is a resort or vacation property, split into shared ownership. There are many different forms, uses, destinations, resorts, and clubs. While timeshare is previously known as a piece of ownership that families go back to at the same time, at the same resort, in the same unit every year, it’s evolution has become so much more.

Start With Your Home Resort

Whether you buy a points or weeks-based ownership, you normally have to choose from a Home resort. This is where you will have priority booking and the best use of your benefits. 

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Timeshare Points or Weeks?

If you have a particular time every year that your family vacations, a weeks-based ownership might work best for you. 

Points are the best for flexible, spontaneous travelers. Take your points for weekend trips, long weeks, and last-minute getaways. 

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Timeshare Vs Hotel

Timeshare resorts offer a world of better benefits, accommodations, and amenities. Timeshare units are often complete with fully-equipped kitchens, spacious living room areas, and private bedrooms. Not to mention, most resorts have spas, multiple pools, restaurants, and luxurious lounges. 

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Why Timeshare Resale?

Timeshare resales can be a great way to dip your toes into the vacation lifestyle. They are much more affordable and come with most of the same benefits. 

If you already own a timeshare, resales can also be a cost-effective way to add more points or flexibility to your package. 

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Take Advantage of Vacation Exchange

Popular vacation exchange networks like RCI or Interval International offer owners the advantage to travel near or far. Choose from thousands of resorts and destinations around the globe. Most brands are affiliated with a trading platform, where you can exchange your points or weeks for other travel opportunities.

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How Does A Timeshare Work?

In the most simple terms, a timeshare works by owning a “piece” of a resort or unit, for use every year. However, there are many different ways a timeshare works, down to the usage type, frequency, or length of contract.

what is a timeshare fixed week

Fixed Week

An owner is given the ability to vacation at the same resort, the same unit, and during the same week every year.

Biennial Usage

Biennial Ownership

With biennial usage, you may own an Even (years ending on even numbers) or Odd Year (years ending on odd numbers).

Timeshare Floating Weeks

Floating Week

Depending on the brand, a floating week may be able to use at any time of the year, or during the designated ownership season.

right to use timeshare usage

Right To Use

A Right to Use timeshare is a contract in which the owner has full use of the ownership for an allotted number of years. 

timeshare points

Points

Owners can use their annual allotment of points as currency, spending them for other resorts within their brand.

Timeshare Seasons

Timeshare Seasons

Most resorts or developers will categorize segments of the year by their own seasons, based on multiple factors.

Timeshare Maintenance Fees

Timeshare Maintenance Fees

Timeshare maintenance fees are due annually, and include the maintenance of the resort, employee wages, and emergency funds.

timeshare exchange

Vacation Exchange

RCI and Interval International (II) are timeshare exchange networks that allow owners to trade their timeshare for thousands of resorts.

Timeshare Resale

Timeshare is made to be a lifelong product. Some are owned in perpetuity, meaning it can be passed on for generations, and some last several years before the contract expires or the Right to Use period is over. Although many owners love their timeshare and mean to use it for life, sometimes circumstances change. That’s why the resale industry began. When owners no longer have use for their timeshare, the best option is to place it for sale on the secondary market.

Buying a resale property can have many benefits for new owners. Resales are usually less than a fraction of the cost, and they come with most of the same benefits. If you’re looking to give timeshare a try, a resale is a great option for dipping your toes in. Plus, you can browse right from home across all of the top brands, destinations, and resorts.

Most Frequently Asked Questions

A floating week is a form of ownership that gives owners a little more flexibility when they travel. Some clubs allow floating week owners to make reservations within their season. There are also clubs that allow owners to make reservations during any week of the year. Every brand is different, so make sure to check which form of ownership will work best for your travel lifestyle.

Timeshare points are used as currency when you vacation. Each point has a value that differs from brand to brand. You can use your points to make reservations at any time of year, at different resorts within the brand’s portfolio, and for different sized villas. Points are extremely flexible. Most clubs allow owners to bank their points for a bigger vacation next year. If you’re looking to make a big trip sooner, you can also borrow points from the next year to use.

Timeshare weeks are assigned a specific number on the calendar, from Week 1 to Week 52. When you buy weeks-based ownership, it can be a floating week or fixed week, depending on the brand. Fixed weeks allow owners to choose which week they want to travel every year. This makes planning easy, and guarantees your vacation time. Floating weeks allow owners to make reservations during their specific timeshare season, and some clubs allow floating week owners to make a reservation any week of the year.

Biennial timeshares grant every-other-year usage. Instead of vacationing annually, biennial owners can vacation every other year. They either have odd-year usage (years ending in an odd number), or even year usage (years ending in an even number).

Some vacation ownership brands offer owners perpetual ownership. This means that the deed never expires and your ownership can be passed onto your children, grandchildren, etc.

According to the American Resort Development Association, maintenance fees averaged to be approximately $1,000. This can differ between brands, resorts, how many points you have, or which week you own. Maintenance fees increase slightly every year, with about a 2% increase between 2017-2019. Owners normally pay maintenance fees every year.

Timeshare maintenance fees go towards “maintaining” the resort! Imagine clean walkways, new fresh flowers, bigger pools, comfy beds, and damage repairs. All owners help pay maintenance fees, so the cost of the resort is divided among each member. Maintenance fees have their benefits too. They ensure that your resort will be gorgeous for years to come, with new upgrades awaiting.

Fractional ownership comes with a registered title deed, like real estate. Some fractional ownership properties give you more time than a week for vacations, even up to months in some resorts. It’s similar to owning a vacation home, but with the benefit of sharing ownership.

Some contracts are perpetual, meaning it never expires and can be passed down to your children, grandchildren, etc. There are also Right to Use contracts, which only last for an allotted number of years.

A timeshare lockout or lock-off unit offers more space, options, and flexibility for owners. It can be split into two units, similar to an adjoining room at a hotel. It’s nice for privacy if you will be traveling with other guests, or you could even rent it out.

what is a timeshare

Contact Fidelity Real Estate Experts

Asset 26

Our Licensed Real Estate Agents pride themselves on providing outstanding service and support. We’re here to guide timeshare buyers and sellers through every step of the resale process.

fidelity phone number

Call Us
1-800-410-8326

Email
team@fidelityresales.com

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How to Sell Hilton Grand Vacations Timeshare
Selling

How To Sell Hilton Grand Vacations Timeshare

Trying to find the best way to sell your Hilton Grand Vacations timeshare can be confusing and even tiring. You should start by calling Hilton. Their representatives might be able to guide you to the best path to selling.

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