If you're thinking about purchasing a time-share, then you'll run across the term "floating red week" a lot in your research. It's a time-share industry term that means the conditions of a time-share option. It indicates the type of season in which a person is purchasing a time-share for, as well as the general stipulations for the dates the purchaser has requested. Floating red weeks have several advantages and disadvantages compared to time-shares with fixed weeks.
Red Week Defined
The term "red week" indicates that a person is purchasing a time-share during the prime vacation season for a particular area. It means that the tourist season will be at its highest, and subsequently, the demand for time-shares will be at its peak. As a result, red week time-shares are generally the most expensive. White weeks often indicate a slightly less busy, or shoulder, time of year. Blue weeks are the off-season.
The term "floating" indicates that the dates of the time-share week are not fixed. Floating weeks work differently among time-share companies. Generally, however, the purchaser is guaranteed a week within a certain time frame or season. The owner often has to request the dates yearly. Nonetheless, in some cases, a floating week is one in which the specific week rotates among different owners every year. In this case, a single owner may only get to use the time-share once every three years.
Advantage of a Floating Red Week
The principle advantage of owning a floating red week is that the dates of the week are somewhat flexible, and they will be guaranteed to be in the best time of the year. It is often difficult to know when you are going to be allowed vacation time from work, or foresee other circumstances that can prevent you from being able to take advantage of a time-share at a specific date. Also, a fixed week of the season may work out well one year, but not another.
Disadvantages of a Floating Red Week
The largest drawback of a floating red week is that it is based on availability. Another owner may have already claimed the week that you wanted. It is important to check with the time-share company to understand the process of scheduling your week. Floating weeks tend to be more expensive as well. To turn a fixed week into a floating week, you must pay an additional exchange fee.