If you are thinking about buying a timeshare you may have encountered timeshare companies and wondered what they did. You will find that timeshare companies will differ in the way they operate. However, basically they act as the middle man between the buyer and the timeshare owner. The latter may be a resort or an existing owner).
A timeshare allows those who either can’t afford, or do not want the responsibility of their own holiday home to have the best of both worlds. A timeshare is basically the shared ownership in a vacation property that allows the purchaser to use that property at a certain time of the year.
Taking your vacation at the same place and time every year is not ideal for everyone. However, it is also possible to exchange weeks with owners of other properties and/or buy a timeshare that includes flexible dates. If you are interested in flexible timeshares, then make sure you ask the timeshare companies whether they offer them.
Owning a timeshare is not always related to property in the traditional sense. Timeshare companies can also arrange for you to acquire shares in cabins on cruise liners and even in vehicles such as recreational vehicles. The timeshare horror stories you may have heard of in the past are not as likely now since the industry is now a more flexible industry that offers something for everyone.
Although you don’t have to pay a rental fee for a timeshare property during your specific week/s of use, you would be responsible with the other owners for maintenance and management costs. Such fees may not be just restricted to the property but applies to the facilities (for example, swimming pools, saunas) as well. So make sure you are well aware of the costs before you buy. The better timeshare companies will have this sort of information readily to hand and should be included in any contract you sign.
You may also come across timeshare companies that run exchange programs, these will allow you to get x amount of weeks every year in multiple resorts that participate in the program. You will find these programs may relate to resorts in one country or internationally.
So you see there is more to a timeshare than there used to be. Do not be put off by the bad press that you may have seen in the past, this is much improved but there are some bad eggs out there! Make sure you do your homework and remain vigilant and remember that a timeshare is a great way to vacation! Checking out all the timeshare companies is a good way to establish the options available to you.