What are the different kinds of timeshares?

Before getting into buying or selling timeshares, its very important to understand what you're getting into. Just to give you an overview, they can be divided into the following main types based on ownership and usage rights:

Deeded Property: This is when you own the deed to the timeshare. This ownership ends when you decide to sell,lease, or donate the property.

Fixed time: You pick the one week in the year to use the property, and use the property for the same week each year. If you miss it, you lose it.

Floating Time: Unlike fixed time, you get usage rights for a specific period of time- say, one week in a year, but it does not have to be the same time of the year. Offers a bit more flexibility, but advance booking is needed, and availability of unit sizes may vary, especially in peak seasons.

Points: Various vacation clubs offer such properties With the points timeshare option, you pay for, and accumulate credits or points for use during anytime of the year. As in the case of floating timeshares, advance booking is needed to book the unit in the vacation destination of your choice. You use up points as you reserve nights at the unit.

Multiple Locations: Different resort or hotel chains, offer such deals. You buy the timeshare with the resort, but you can use it in different locations. So you can buy a membership with a resort, and based on your agreement, can use their property in Hawaii or Florida or Europe.

Mix & Match: Resorts and vacation clubs could offer a mix & match of the above categories- for example a fixed & floating dats etc. Look at this example of a Hyatt property. http://www.hyattaspen.com/p-own-grand-hyatt-aspen-302.html. Also look at how much they charge you!

I'm sure you can further divide & subdivide categories of timeshares, and get "own" anything from an apartment to a boat. But you really need to do lots of research and homework before you get into buying one.

What are the benefits of owning a timeshare (see benefits & Pains of owning a timeshare in further posts) vs. renting a condo, or a vacation rental? or even a hotel room? Most people who buy timeshares are the ones who travel to a destination, say Hawaii, fall in love with the place, and decide they want to visit the place every year. By the way they also fall in love with the resort property they are staying in, and want to stay there every year. Well- good for them, but heres a newsflash- there are cheaper options! You can go to Hawaii each year, and stay in the same place, and pay lesser than you would if you own a timeshare there.

Well, if money is not a consideration, there are even beter options, like owning a condo, vacation home, etc. and you could even qualify for tax benefits! For more information on how to find best deals, travel vacation deals, or specific questions, feel free to email me at travelbugmundo@gmail.com