Although many people tend to associate ‘timeshare’ with bad press, investing in this type of property can have many benefits. Of course there are good and not so good timeshare companies, but first advice is to go on recommendations by people who have already taken the step and make sure that you are fully aware of what you are signing up to.Timeshare properties can be a good way of ensuring a good quality holiday every year. With over six million families now owning property of this type, it is seen as a guarantee of a holiday of your chosen standard of accommodation for life from as little as £4,000.

So what is timeshare? Well, timeshare is a form of holiday ownership. You do not own the property but you own the right to use a week (or more depending on your contract) in an apartment or villa on a holiday resort of your choice for as many years as you want.

The accommodation offered by the timeshare arrangement, is usually much better than a hotel or rented accommodation. Most resorts offer excellent leisure facilities that are generally free to use. They also tend to be self-catering properties making them perfect for family holidays. Accommodation can range from modest studios to luxury villas with as many (or as little) bedrooms and bathrooms as you require.

So what is the difference between ‘fixed week timeshare’ and ‘floating system timeshare’?

With a fixed week timeshare you sign up to a specific week of the year in a specific property. However this need not restrict your holiday as you can choose to swap through the exchange system for something similar in another part of the world at another time if you do not wish to spend each holiday at the same place at the same week.

On the other hand, the ‘floating system’ (including Points Clubs) mean that instead of owning a specific week, you own a week or more within a seasonal band of time but each year, subject to availability you will need to book the specific week you want.

The exchange system tend to be more popular as it offers the flexibility to choose from a variety of resorts world-wide. All you have to do is swap, through the timeshare company, with someone who has the same standard accommodation as you.

Legally, what you are paying for is the right of use of your holiday accommodation, being held in trust, or registered on a public register for your lifetime.

You will need to pay an annual fee and to ensure you get your choice, you should ensure timely payment. If you invest and later decide its not for you you just sell your rights to someone else!

Be sure to seek legal advice before embarking on, what can become a considerable investment.

This entry was posted on Tuesday, December 12th, 2006 at 7:30 pm and is filed under Buying property, Timeshare. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.