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How do timeshares work? (by R P.):

justinm116 wrote:

I'm interested in renting/owning a timeshare but thought I would get the basics out of the way. How do timeshares work?

Timeshares are sold in fixed weeks (same time and same unit each year), floating weeks (search forums or Google for explanation) and points (search forums or Google for explanation) as there are many different point systems.)

Quote:

I know someone who has a timeshare in Arizona, but they travel to the Bahama's all the time. Does the location matter? Can you own a timeshare in one place, but use it at every location? If that's the case, why not buy a cheaper location and just go to the nicer resort? Other considerations?

They belong to an exchange company (the two largest exchange companies are RCI and II). Where they can deposit their owned week and exchange it for a different week IF that different week is available (exchanging is a crap shoot).

As donp stated ..... timeshare ownership is a complicated process ..... until you learn all the ins and outs and are fully educated on the subject then I recommend renting from an owner and never buy from the developer .... always buy on the resale market.