Time-share Benefits
Time-shares are real estate interests that permit an owner to buy a fractional share of a vacation accommodation. Many are owned outright and can be passed down to generations indefinitely. Others are purchased for a specified number of years. Time-shares are cost-efficient, flexible, generously sized, offer many amenities and can be used in multiple ways.
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Buy What You Use
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Time-shares allow you to pay for the precise number of weeks you expect to use your vacation accommodations instead of requiring you to shoulder maintenance fees for an accommodation owned year-round. Furthermore, some time-share companies offer lock-out units, which allow you to use a multiple-room unit twice a year by only using a portion of the accommodation each time. For example, you can own one week of a two-bedroom lock-out unit with a kitchen and vacation in February with one bedroom and in April with the other bedroom and the kitchen. However, not all areas and companies offer this option. Thus, sometimes you can get two vacations from one maintenance fee or take one vacation by using half your unit and renting half your unit.
Larger Accommodations, Lower Price
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Time-shares usually provide larger accommodations at a more reasonable price than a comparable hotel. Most units have multiple bedrooms, laundry facilities, kitchens and family rooms with pullout sofa beds. Typically, time-shares can comfortably sleep four to eight people, and three-bedroom units can sleep even more. Additionally, using time-share kitchens saves costs on eating out.
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Hotel-like Amenities
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Unlike ownership in a vacation apartment or home, time-shares offer many amenities similar to hotels. Time-shares usually have well-maintained facilities including pools, gyms, outdoor food areas, babysitting services, kids' activities, concierges, and some have spas. Maid service is usually available but is priced and customized to the customer's needs.
Flexibility
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Many time-shares can be purchased with floating weeks allowing you to change the week you wish to vacation. Additionally, time-share owners can join a clearinghouse, which allows you to trade your time-share for a unit in another location. The clearinghouses impose a slight fee, but they also offer you opportunities to take shorter vacations at very reasonable prices and may offer bonus weeks, which allow you to travel at off-peak times and obtain accommodations at discounted rates in addition to using your time-share week.
Other Benefits
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Time-share weeks can be given as gifts or donated to nonprofits for charitable deductions. It is also possible to rent out a time-share unit. Some time-share chains have company point systems. Your ownership has a point value, and if you choose to turn in your unit for points, you can use the points to purchase items or stay at a hotel owned by the time-share company.
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