Timeshare ownerships come in many forms in today’s resale market. Understanding the differences in the various deeds and contracts is extremely important if you are new to timeshares, or looking into buying a timeshare, simply because the value of a timeshare can vary greatly depending on the various attributes the deed carries. In this article, we’ll explore some of the differences in the various vacation clubs and timeshare resorts. Doing your research now can help you find the ownership that suits your family’s vacation needs best.
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Fixed or Floating Week Deeds
Fixed and floating week-based timeshares both allow you to vacation at your home resort, and trade your week(s) through an exchange company. A fixed-week can afford you a consistent vacation experience, as you will have the same week # each year at the resort your are deeded to. However, a floating-week ownership could represent more flexibility, as you are able to choose to reserve any week # that is available.
Points-Based Systems
Point-based timeshares are a completely different concept. Many clubs operate their points-based reservations differently, but the basics are similar. Each year, as an owner, you are awarded a certain number of points that you can spend to reserve the different locations within your vacation club’s network of resorts. Some clubs have as many as 60+developer resorts to choose from.
This model not only allows the owner to travel in daily intervals, but allows them to use any size unit they wish depending on how many people they have.
Fractional Ownerships
Fractional ownership are yet another interesting take on vacation ownership, these deeds offer the owner multiple weeks of vacation per year. Some very rare WorldMark fractional ownerships can even be converted to points, oddly enough!
Right To Use Deeds
Right to use ownerships are like deeded ownerships, but they have an inherent expiration at a pre-determined date. There are benefits and drawbacks to owning this type of ownership. The choice between a perpetual ownership and a right to use ownership, may be decided by your long-term travel goals.
When buying right to use, you know exactly what year your maintenance fees obligations will end as well as access to locations where a deed can not be purchased. Some locations, mostly Mexican properties, cannot offer deeded ownerships to non-citizens, due to the legislation of the local authorities.
Points-based timeshares are regarded as the most flexible type of timeshare, but many people like the consistency of a fixed week at their favorite resort each year. The choice is up to you and what works best for your needs and the people that are lucky enough to experience vacation ownership with you.
Take advantage of our extensive knowledge on the timeshare resale industry. Feel free to contact one of our licensed agents for more information.
