Imagine a vacation that feels like home! Here, you are not just a guest, but an owner. A place you return to year after year. A place to dream up a new adventure in a different destination each time. This is the allure of timeshares, a way to access luxurious resorts with world-class amenities and secure regular vacations each year. And best of all, it can be all be done at an affordable and predictable cost.
However, one of the challenges that many prospective buyers face is simply choosing. Choosing their ideal timeshare can be confusing with so many available options on the resale market. While there are many options, the three main types of timeshares are; 1) fixed week, 2) floating week, or 3) a points-based timeshare. Each ownership type offers unique characteristics and advantages.
In this article, we help you understand each of these options. We also provide a basic framework so that you can assess which ownership type suits your needs. The ideal choice depends on your travel preferences, lifestyle, and budget. Let’s take a closer look!
[su_panel border=”0px solid #cccccc” shadow=”0px 0px 5px #dddddd” radius=”5″] [su_icon_text icon=”icon: calendar” icon_color=”#102c4b” icon_size=”32″]Fixed Week Timeshares: Stability & Ease of Use
[/su_icon_text]A fixed week timeshare guarantees you the use of the same unit at your designated resort during the same time every year. This is an excellent choice if you have a time of the year you prefer to travel, or can only travel during a specific time each year. While this type of timeshare can be seen as “old-school”, it is the original concept of vacation ownership. Owning a specific week at your favorite resort is still a fabulous option for many buyers due to the ease of use and planning.
Pros:
- Consistency: You can plan your vacations around the same time each year, and know what to expect for each trip.
- Guaranteed Availability: Your week is reserved just for you, eliminating worries about availability or the need to book far in advance.
- Affordable Purchase Price For Non-Peak Weeks: Some fixed week timeshares can be purchased at an extremely reasonable price on the resale market. Many can be purchased for only a few thousand dollars for a week in a villa at a luxury resort.
Cons:
- Limited Flexibility: Changes in your schedule or desire to vacation at a different time may require you to trade weeks, potentially involving additional memberships and fees.
- High Purchase Price For Peak Weeks: Highly desirable weeks like New Year’s or Christmas week in ski or beach locations can be expensive.
While fixed week timeshares do sacrifice flexibility, it is important to keep in mind, there are usually options to exchange your fixed time. All of the major brand timeshare developers have associations with exchange companies that allow the owner to trade their week within a network of thousands of other resorts. Whereas fixed weeks sacrifice some flexibility, they can make it up in affordability, ease of use, and stability for the traveler that simply loves a specific resort and knows what time of year they will travel.
[/su_panel] [su_panel border=”0px solid #cccccc” shadow=”0px 0px 5px #dddddd” radius=”5″] [su_icon_text icon=”icon: calendar-plus-o” icon_color=”#102c4b” icon_size=”32″]Floating Week Timeshares: Flexibility and Variety
[/su_icon_text]A floating week timeshare provides more flexibility, allowing you to choose any week within a designated season at your home resort.
With a floating week timeshare, you are allocated a certain span of weeks, often referred to as a ‘season’, during which you can use your timeshare. These seasons are typically categorized into different. Examples of tiers are Platinum, Gold, and Silver; or Red, White, and Blue. These categorizations are used to divide the year into segments based on the demand for travel. As a floating week owner, you have the flexibility to reserve any available week within the season you purchase.
Pros:
- Flexibility: You can select different weeks each year, accommodating changing schedules and enabling spontaneous trips.
- Variety: Experience your vacation spot during different seasons and enjoy a myriad of local events and climates.
- Affordable Purchase Price: Floating weeks can be an incredibly affordable way to attain ownership.
Cons:
- Subject To Availability: Highly desired weeks at a popular resort, especially during peak seasons, may not be available if not booked in advance.
When venturing into the world of floating weeks, owners can typically reserve their week up to 12 months in advance. Understanding the booking windows available for your particular resort, and booking as far in advance as possible, can help ensure you can reserve the perfect week for you each year.
[/su_panel] [su_panel border=”0px solid #cccccc” shadow=”0px 0px 5px #dddddd” radius=”5″] [su_icon_text icon=”icon: globe-w” icon_color=”#102c4b” icon_size=”32″]Points-Based Timeshares: Ultimate Flexibility and Variety
[/su_icon_text]A points-based timeshare offers the most flexibility by far. This timeshare product is often seen as the next evolution in vacation ownership due to the ability to book any resort within a specific resort network.
The specific benefits and features between the different points based timeshare brands vary but the concept is similar. Essentially, an owner purchases points that can be used as a vacation currency to book accommodations at various resorts within the timeshare network.
Pros:
- Ultimate Flexibility: You can choose when, where, and how long to stay, offering a highly customizable vacation experience. You can also choose different unit sizes (studio, one bedroom, two bedroom, etc).
- Variety of Destinations: Access to multiple resorts across different locations expands your vacation possibilities.
Cons:
- Subject To Availability: Like floating week timeshares, high-demand periods may require early booking, and can be expensive with respect to how many points are required to book.
- Initial Purchase Price: In some cases, points-based timeshares require a higher purchase price when compared to weeks-based ownerships, although they can still be quite affordable when bought on the resale market.
Making the Right Timeshare Choice for You
Your ideal timeshare depends on your vacation preferences. A fixed week timeshare is perfect if you prefer consistency and have a specific week each year when you love to vacation. A floating week timeshare provides the flexibility to choose different weeks each year at you favorite resort. A points-based timeshare offers the most flexibility with options to choose different locations, lengths of stay, and types of accommodations.
Consider your vacation habits, schedule flexibility, and personal preferences when choosing between these timeshare options. Each one offers unique benefits, so weigh these factors carefully to make the best decision for your vacation needs.
Let’s Start Dreaming!
Whether you are considering buying a timeshare on the secondary market, or selling your ownership, feel free to contact our team of licensed agents. We specialize in all the most popular timeshare developers, and have decades of experience in helping our clients find the perfect fit.
After all, vacation ownership is not just about owning a property. It is about creating countless memories that you and your family will treasure forever. Our team would be honored to help you make your vacation dreams become reality!
