Timeshare 101

What Is A Timeshare?

Everyone thought the same thing when they first heard the term.  Over the years timesharing has been known as many things and we will do our best to help you learn more about this great way to take a vacation.

Timeshares Give You:

1.      Stability
2.      Flexibility
3.      Control of your vacation costs
4.      Confidence in your vacation
5.      Variety, almost endless possibilities

Stability
Let’s say you own a timeshare at The Carlsbad Inn Beach Resort located in Carlsbad, California.  This is an RCI Gold Crown Resort, and truly a fine timeshare to own.  If you own an annual week 35, unit 323, as long as you stay current on your annual maintenance fees you have the right to use that unit for that week every year.  You can also exchange the week.

Flexibility
Almost any timeshare can be traded for a week in another resort.  If you own an excellent week like the Carlsbad Inn trading should never be a problem.  A lesser week can have lesser trading power.  The way it works is simple; you pay your maintenance fees on your week.  If you decide you’d rather go to St. Maarten than the Carlsbad Inn one year, you can bank your week with any one of several companies  and select another week at another resort.  RCI and Interval World are the two biggest ones, though Fairfield has an excellent program, and many other smaller exchange companies are popping up.

Control of your vacation costs
How does paying maintenance every year control your costs?  Simple.  If you’re looking into a timeshare you’re probably not the family or person that vacations on aunt Ester’s floor every August.  You go an a vacation, want some nice amenities or a special area, and live at a certain lifestyle level.  You also know that it’s very easy to spend $125 to $250 per night for a motel room in a nice resort.  Then you have to eat every meal in restaurants, and your costs continue to climb. 

1. First, if you return to your home resort each year you only pay incidental costs to stay there.  Your vacation is paid for when you stay current on your maintenance fees.
2. Maintenance Fees.  Typically your maintenance fees will run from $200 per week per year (A low end resort) to $1,000 per week per year.  If you have a Three bedroom Gold Crown annual unit in Maui you can expect to pay even higher than that, but these are just estimated ranges. 

(There are many different intervals of ownership with timeshares.  Please see Timeshare 131, Units, for more information.)

Confidence in your vacation
Surveys have said for years that people love timesharing because they know what to expect.  They get their money’ worth if they’re smart.  Here are some ways to gain more confidence in your vacation this year and every year:

 1.      Buy an award winning resort – Interval World has the 5 Star award.  RCI has the Gold Crown (highest level) and Resort of International Distinction, secondary award lower than a Gold Crown resort.  Buying an award winning resort is one way to assure the level of accommodations and overall experience of your timeshare and in your vacation.  RCI, II, Fairfield and all of the other resort companies take resort awards very seriously.  If you see an II 5 Star award or RCI Gold crown award, be confident that you have just found an excellent resort.  Resorts work very hard to maintain these ratings, and the maintenance fees for such a resort are above the fees for a “standard resort.”  This is one area where you get what you pay for.  Some people want to pay a little more each year for a higher level of quality in their resort.  Some people choose to invest their money in a better location.  We will do our best to help you make an excellent decision about your timesharing needs.
2.      Learn from online resources.  Timeshare can give you confidence in many ways.  Many people travel to timeshare resorts each year, and they actively leave feedback online at places like the Timeshare User’s Group.  This is a pretty good way to get feedback on resorts.  Why do I say pretty good way?  Because each person alive has their own prejudices.  Remember that when you read any type of review.  A person that hates the beach will not be at home at The Carlsbad Inn Beach Resort, a Gold Crown resort in the RCI system and an excellent place to own a timeshare. 
3.      Return to great resorts.  Many people buy timeshare because they fell in love with a resort and want to return to it each year.  What a great way to ensure you’re getting hr exact quality resort you want. 

Variety, almost endless possibilities:
There are thousands of timeshares, all around this great big wonderful world of ours.  There should be a timeshare for everyone, though it may take you some time to find it.  Whatever timeshare you decide is best for you, please give Timeshare Gems a chance to help you buy that timeshare.  We'll do our best.