The Reclaim Experts - What is timeshare? The Pros and Cons
“Timeshares” originated when escalating property prices made it impossible for most people to afford a holiday home. In 1960s France a resort developer decided to sell shares in his property rather than trying to sell individual units or rent out rooms. This model became very successful.
There are two kinds of timeshares:
- The original and familiar ‘Weeks System’
- The relatively recent ‘Points System’
With traditional timeshare, buyers pay a lump sum, usually for one ‘week’, which allows them to use either a specific unit at the same time every year or ‘swap’ to other resorts using an exchange company. In addition to the initial purchase price, timeshare owners are also required to pay an annual maintenance fees.
The points system gives users more flexibility with where and when they travel as points can be exchanged for weekend getaways, full week stays or other products.
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