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Types of Timeshare
Timeshare is a diverse form of real estate. This is why buyers should inform themselves well before choosing which suits them best. There are different types of timeshare according to ownership, membership, and accommodation and some timeshare tips that go well with each.
There are TWO forms of ownerships. One is the FEE OWNERSHIP which entails simply that you will own the timeshare permanently or that your ownership of the property is perpetual. In this type of ownership, you will receive a deed. Thus, this type of timeshare is also called the DEEDED TIMESHARE. The other form of ownership is the CERTIFICATE OWNERSHIP which would grant you the ability to own the timeshare for a specific number of years.
As to timeshare memberships, some forms in existence today are THE FIXED WEEK, FLOATING TIME, POINTS, and MULTI LOCATION. The fixed week is the oldest form of membership. It is determined using the 52 weeks in a calendar year. Clients can take their pick from the weeks available in the calendar. The week or weeks chosen will be the same weeks that will be used in the preceding years. In contrast to the fixed week membership, the floating membership offers more flexibility to clients whose schedules may otherwise be erratic. This allows them to make contact as to their arrival which more often than not falls on a Friday, Saturday, or Sunday. One of the timeshare tips to consider: a downside of this type of timeshare is that it is on a first come first serve basis. Thus, there are no guarantees that you will get your desired time.
The third form or membership is called the Points. As the name suggests, you will have to purchase a certain number of points, which will allow you to travel in certain seasons and to various unit sizes. Timeshare tips for this include this: this is on a first come first serve basis much like the Floating membership although this allows a certain level of flexibility. The Multi Location membership is one that expands the features of timeshare. This allows owners to visit other locations that are under the very same timeshare umbrella.
Lastly, the type of timeshare according to accommodation is one that depends solely on the number of occupants at any given period of time and the corresponding number of rooms to accommodate them.