There are various product types when it comes to timeshare, one to suit practically all potential buyers. Most people are familiar with the blocked week concept, where you purchase a specific week of the year and have the right to use that property for the same fixed week every year, but there are other options that you might not have considered, such as buying points equivalent to the purchase of a week(s).
Below you will find a explanation of some of the options you have for timeshare.
Blocked Weeks
Within this option there are variants, such as rotating weeks and floating weeks in addition to the standard purchase of a specific week or weeks in the year. In all cases, the timeshare weeks are given a number 1 to 52 which remain the same, although the dates change depending on the way the calendar falls that year.
When buying a fixed week timeshare, you specify which week you want to purchase and you are guaranteed the right to your property during that week every year. This is particularly useful if you have set vacation dates owing to your job or if you are limited to school holidays. In this case, you do not have to worry about booking during peak times and can save money in the long run.
In a similar way, when you buy floating weeks you can use your property during a certain period such as summer or winter, and you can decide every year the specific week(s) that you wish. This option means that you are not limited to the exact same week every year.
The other option is called a rotation week intended for greater fairness amongst owners. In this case the week jumps forward or back each year, so that one year you are week 10 then the next 11. This allows you the comfort of being able to plan way in advance while offering variety. In practice, the rotation idea is more beneficial for fractional ownership of longer periods, for example 3 months, when owners jump a whole season.
Timeshare Points System
The most recent alternative is the timeshare points system. Many of the larger reputable timeshare companies offer the point system so that buyers can enjoy greater flexibility. Rather than buy a specific unit, you buy the equivalent Timeshare points which you can use in the different locations where the timeshare group operates and at different times of the year. For example, you might buy the equivalent points for a two bedroom apartment during prime dates; you can then use those points to do exactly that or you might decide to travel during low season and stay an extra week, or stay two weeks in a one bedroom unit. The main objective of the points system is greater flexibility.
Likewise, there are a number of vacation clubs that offer the timeshare points system as a service to owners who have blocked weeks. For a membership fee you can offer your week for points that you can then swap for another location.
Timeshares are complicated products; therefore, they cannot be entered into lightly. Unfortunately, the timeshare industry does not have the best reputation. That is because timeshares are generally sold during high-pressure sales presentations, and most of the promises told by the timeshare salespeople are just illusory.