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Getting to know Timeshare...

What's the deal

This Timeshare 101 is for you to understand what is timeshare.  This is the place to begin your journey into savings monies from your next vacation onwards.

 

At Liztme.com our aim to impart our combined knowledge from our experience on timeshare with you.

 

 

We hope this will shed some light of some Timeshare Basics you need to know.  Take your time reading this and start thinking of where your next vacation destination will be. 

 

If you already know the basics, we suggest you jump straight to the Timeshare Terminology. 

What is Timeshare?

A timeshare is when a group of people buy into a property and divide the time usually in weekly intervals.  This is normally a condominium or resort-style developments. 

 

 

They usually divide the property into 52 weeks and you can buy One, Two or Ten Weeks.  It’s up to you. The more you buy, the higher the liabilities which is the yearly Maintenance Fees.  You can choose the size of the unit you like which is usually according to your family size.

 

 

When travelling, you can return to the same resort you purchase or choose a different resort in the Exchange System. You can EXCHANGE either the TIME, LOCATION or BOTH.  That is how timeshare is summarized.

What is Timeshare


4 Types of Timeshare

timeshare interval

The timeshare Interval

Generally timeshares Intervals comes in either Annual or Biennial usage.  You can choose according to your travel pattern (do you travel every year or once every 2 years)

 

 

Hence, if you choose every year, you get a week of inventory every year and if you choose biennial; you get a week every other year.  The Maintenance Fees will be invoiced accordingly. 

 

 

If you choose biennial, the resort usually offers Bonus Weeks which you can opt if you don’t have entitlement to use.  These options varies from resorts to resorts.

what is Types of timeshare Units

After deciding on which type of timeshare and interval, now look into the Unit Type.  

 

This depends very much on how comfortable you want to be on your vacation for privacy’s sake or for your pocket sake. 

 

 

Type of Units ranges from Studio to 3 or 4 bedrooms.  The studio is for 2 people and 3 bedrooms normally can fit 6 to 8 people.  Just remember, the bigger the unit the higher the Maintenance Fees.

what is timeshare Exchange

The major attraction of a timeshare is to travel worldwide.  It takes you places that you have always been dreaming of.  This will not be possible without the Exchange.

 

 

Exchange happens when you change a LOCATION or TIME. 

 

 

The 2 largest companies doing exchanges are RCI (Resorts Condominium International) and II (Interval International).

 

 

With owning a timeshare, the resort will be affiliated with an exchange company.  All that is required for exchange is to deposit your week with the exchange company and you can exchange at a different time or location.  They have up to 4500 resorts choices.

what is timeshare Maintenance Fees

Maintenance Fees are paid by timeshare owners yearly, depending on the timeshare. This covers the cost of running the resort, upkeep, utilities, insurance and taxes. The fees vary according to the type and size of the unit purchased.


Maintenance Fees are highly dreaded subject in Timeshare.  This takes a toll on owners as the fees increase with time.  This will end as a burden if you are not using your timeshare or renting it out to at least cover for the fees.


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