When the Federal Trade Commission has a section on their website answering “What is a Timeshare,” you know there is confusion out there! That’s why I like to say that a Timeshare isn’t something you purchase on a whim, three margaritas deep, while on vacation.
What Is a Timeshare Ownership?
Today, a timeshare isn’t just one thing! The timeshare industry offers various products to match people’s different lifestyles and vacation preferences. So, what is a Timeshare Ownership? There are four different types.
This type of timeshare ownership means you have the right to use a particular room type a specific week every year.
A floating week timeshare means that you aren’t guaranteed the same week every year for vacation; you need to call the resort to reserve a room. Some floating ownerships are specific for high season ( AKA Red Weeks) or low season ( AKA White Weeks).
The more points you have, the larger the annual maintenance fee and the purchase price is. This type of timeshare provides a lot of travel flexibility as you don’t have to stay at the same resort every year, but it does have a learning curve.
The rarest type of timeshare is fractional ownership (or a shared deeded ownership) which happens to be the type of timeshare we own.
While some people may think a timeshare is a small 1970’s resort past its prime, Disney’s Saratoga Springs, Waikiki’s Hilton Hawaiian Village, Marriott’s Ko Olina, Four Seasons Residence Club in California, and other brand name resorts are timeshares.