Timeshares

A timeshare, in simplified terms, refers to an arrangement in which several joint owners have the right to use a vacation property during an allotted period of time (often the same week every year). Timeshares are most often specific units, condos, or villas located on at a specific “home” resort property.

When you own a vacation home, you are the sole owner of a physical property that you can visit at your leisure, 365 days a year, but you also pay for the full value of the home as well as the cost of year-round maintenance. With a timeshare, you own an allotted amount of “time” during which you have access to your resort accommodations, and the amount you pay for ownership and maintenance is proportionally less. For instance, you might own a two-bedroom timeshare at a Las Vegas resort for the first week of March that you can use every year. Because you own this timeshare unit, your vacation accommodations are guaranteed every year.

Timeshare weeks are available in various timeshare seasons. There are also points-based ownerships and fractional ownerships for those looking for different ways to vacation. There are also different types of timeshare contracts, based on how long you wish to own.

Timesharing works for many travelers, because you get the benefits of a high-end vacation home without the high cost of expenses and upkeep. Most timeshare ownership programs also now offer the option to exchange your timeshare for a vacation at a different resort in a different location—so you are not tied down to the same spot year after year.

There are many things that set a vacation timeshare resort apart from the average hotel, but the main difference is the quality of the actual rooms available.

Compared to traditional hotel rooms, vacation timeshares are far more deluxe and can range in size from studio units to suites with three or more bedrooms that can often sleep ten or more guests. Here is a head to head comparison of common features you will find in most hotel rooms and those you will find in most timeshares.

As you can see from the list, timesharing offers additional conveniences and comforts not available to travelers who stay exclusively in hotels. In addition to the in-suite amenities listed above, timeshare resorts also provide an extensive range of on-site activities and amenities. Many resorts offer championship golf courses, ski mountain access, equestrian centers, water complexes, world-class spas and even five-star restaurants.

The abbreviated answer is yes. But here are some of the main reasons that vacation timeshares are a savvy option for sophisticated but frugal travelers:

Want to know how to make timeshare ownership even more cost-effective?

As you may already know, timeshares are commonly purchased on the spot following a sales presentation at a timeshare resort. Less commonly known is the option to buy a timeshare from an individual owner on the secondary market.

There are benefits to both methods--by attending a timeshare presentation you get to experience the resort first hand before purchasing, but if you buy on the resale market, you’ll enjoy these additional benefits: