Timeshares, an Intermediate Way To Experience The Second Home Market
Are you a habitual vacationer, but not sure about purchasing your own second home?  Does your year feel incomplete if you haven't had a least one or two really good vacations?  No matter what type of destination you prefer, a timeshare just might be the perfect option for you.  Using a time share is a great intermediate way to get an idea about what the second home vacation market is like.  Simply put, a timeshare is a rented amount of time at one particular resort or at multiple resorts, depending on the type of timeshare program you join.  It doesn't matter whether you want the ski slopes in Colorado, a tropical paradise in the Caribbean, or even one of America's great music towns, like Branson or Nashville - there's a timeshare program waiting for you!  To help you get started in finding the perfect timeshare, here is some of the basic information you need: How does buying a timeshare work? There are two main types of ownership when it comes to timeshares.  First, you could be deeded the property.  This would mean that you would own for life that resort space you purchased, but only on the specific week or weeks for which you purchased it.  Another method of acquiring a timeshare is through leasing.  In this case, you would be more like a renter than a homeowner and would have a lease length, rather than a lifetime purchase.   What type of timeshare programs are there? There are at least four major types of programs.  First is the "fixed week" type.  This kind of timeshare program allows you to purchase 1 or more weeks of vacation at a set time each year.  This means that at such and such date every year, your selected resort will have your rooms reserved.  If you hate to be so tied down to a particular date, then maybe you should try the "floating time" program.  With this option, you'll purchase your vacation time based on season of the year and size of the unit.  Going this route WILL take a bit more work, as you will have to remember to contact your resort each year and schedule your desired vacation times.  A newer timeshare system is the "points" program.  Instead of being tied to a certain location, you can choose to purchase points or credits which will give you access to an array of different units and times of travel.  This is for that flexible vacationer that is more concerned about variety than stability!  Last, but not least!  You might find timeshare programs that offer multi-location packages.  These might assign you a home resort, but then give the option to easily exchange within the timeshare organization's other properties. What if I want to exchange my timeshare? In order to exchange your timeshare, you'll need to join an "exchange company".  Some of the larger companies include Resort Condominiums International and Interval International.  The fees for membership to many companies shouldn't be too much, and they are invaluable in helping you make the trade from your owned timeshare to someone else's proffered one!  They work somewhat like large clearinghouses, helping their members connect and exchange.  How do I choose a location?  If you are planning on trading in your timeshare for other locations, then choose your home spot carefully!  The rule of thumb is that the best locations can be traded for the best locations, so don't plan on trading your timeshare in the desert for a timeshare in downtown Paris.  Your purchased location should be based on 1) what you can afford, 2) the cost and location of spots you know you'll want to trade with, and 3) don't forget to get a place you like and are happy with.  Remember, a timeshare is something you can pass down to the kids, so even if you don't plan on exchanging much, get something that the whole family will like for years to come.