Timeshare is a term used to describe a method of use and/or shared ownership of vacation real estate, where purchasers acquire a period of time (often one week) in a condominium, apartment or other type of vacation accommodation. A timeshare is a popular alternative to traditional vacationing! Timeshare units are more spacious than standard hotel rooms, and timeshare resorts provide a wealth of on site amenities in attractive locations. Rather than buying a second vacation home, timeshare owners have access to one of these units for a designated period of time per year. Besides the initial purchase price, owners pay an annual maintenance fee, thereby avoiding the hassle and cost of up keep associated with a privately owned vacation property. Timeshares have been sold for cruises, recreational vehicles, campgrounds and many other types of properties, but their most popular use is for shares in condominiums at large time-share resorts. There are many flexible ownership variations that prevent you from being committed to one time-share destination and one specific time of year. These include floating week ownerships, points programs, and vacation clubs. Additionally, all timeshares will belong to an exchange company, such as RCI or Interval International, allowing owners to “bank” their usage for future years, and trade with other comprable available units across the globe.

Timeshares became popular in Europe in the 1960s, when property prices escalated to the point where most people could not afford a full time vacation home. Today, timeshare allows families in almost any income bracket access to a luxurious vacation unit year after year. Deeded timeshares can be passed on to heirs like traditional real estate, and owners can also rent out their units to offset their ownership costs if they are unable to vacation that year.  Timeshare ownership means the opportunity to visit different parts of the world, or return year after year to a favorite destination.