Are you thinking about going big on your next holiday? If so, you’re not alone: 68% of surveyed folks in the US plan to do the same. About four in 10 even said they want to splurge on their future travels.
If you have the budget to go all out, you might want to consider timeshare ownership. Its popularity is on the rise in the US, with 9.9 million households already owning one or more types of timeshares.
This guide covers the most crucial facts about your timeshare options, so read on.
Fixed-Week
A fixed-week timeshare gives you exclusive rights to a vacation property for one week. Your contract determines the exact dates for those seven days. For example, it can be every first week of March or the last week of December.
Regardless of the week you choose, you can only use the property within that period. So if you’re okay traveling on the same week every year, a fixed-week timeshare may be ideal. It’s also the most affordable option, considering its time restrictions.
Floating Week
Floating week contracts are the best timeshares for those who want flexible schedules. This type of timeshare gives you the chance to pick the specific week you wish to use the property.
We say, ‘chance,’ as other timeshare owners may also want to book the property on the same week. Thus, it’s best to make your reservations ahead of time to ensure you get to use the unit on your preferred days. Otherwise, other owners may beat you to it, leaving you to choose a less-desirable schedule.
Because of their flexibility, floating week timeshares cost more than the fixed-week type. However, they’re still a great choice if you want more freedom to select when you want to go on a holiday.
Points-Based
The timeshare vacation industry also offers points-based vacation club memberships. Owners can use their points to book not only one but multiple properties owned or managed by the company.
One example is the Disney Vacation Club (DVC), consisting of resorts and theme parks.
When you become a member, DVC gives you a yearly allotment of points you can use to book one of its resorts. However, how many points you get depends on the specific contract you purchase. You can check out this page to learn more about the buying process for DVC membership.
Once you receive your points, you can start consuming them to book your trips to DVC resorts. The points you need depend on your destination and the number of units you want to book. You can also divide or spread them to enjoy multiple stays over the year.
Other vacation club memberships follow a similar model, offering comparable benefits. Whichever club you pick, expect them to cost more than fixed- or floating week timeshares.
Buy the Best Types of Timeshares
As you can see, you have three primary types of timeshares to choose from, each with its pros and cons. A fixed-week contract may be your best bet if you’re on a budget, but a floating week is better if you want flexibility. If you want the most benefits, though, consider a points-based membership.
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About the Author/s
The New Jersey Digest is a new jersey magazine that has chronicled daily life in the Garden State for over 10 years.
