Do you know differentiate a fixed week timeshare from a deeded fraction? What is the difference between a vacation club and a residence club? Here you will find the answers with a brief guide to the kinds of vacation ownership you can enjoy.

Fixed Week Timeshare

Most people who don’t already own a timeshare will think all timeshare models are fixed week. The fixed week model was one of the most successful timeshare options during the end of the last century. This option allows you to have access to a unit from a resort or condominium each year at the same time of year unless you trade in your time for another week slot. It wasn’t long before the concept of flexible weeks was born that allowed you to purchase weekly allotments during a specific season of the year. At any rate, the fixed week timeshare carries with it the added bonus of always knowing when you are allowed to use your timeshare for vacation. You also can get good deals on buying the most sough after vacation seasons like Thanksgiving, Christmas, and New Year’s Eve.

Fraction Ownership

Fractional Ownership almost works just like the fixed week timeshare model. The major difference between the two is the concept of having a deed. Fractional ownership allows you to purchase a percentage of a unit much like you would if you were buying your own house. You pay property taxes on your percent of the property, and you can even leave your property percentage in a will (unless you plan on eventually selling). Like any other owned real estate, you can also rent your property. The property is often divided into 4 or 8 parts that will be sold to various vacationers. Time allotments vary and can range from a month to an entire season.

“You pay property taxes on your percent of the property, and you can even leave your property percentage in a will…”

Points Based Residences Clubs

Currently, the points based residence club model is the most flexible timeshare option available on the market. This option allows you to purchase points instead of an actual property. You have the option of vacationing in different units with different accommodations. You also have the option of using points to buy various time slots, which means you can request a few days or a month. Most resorts using the points based timeshare option will let you borrow and save your points to use however you see fit—even to purchase meals or order special resort services like a spa treatment.

Vacation Clubs

Some vacation ownership models allow you to purchase a membership in order to get discounts on properties associated with one corporate resort or condominium complex. When you get ready to vacation, you use your awarded discounts and apply them to your hotel reservations. Some companies are big enough to provide discounts to a variety of global resorts. Also, there are vacation club options that use timeshare agents to assign you a timeshare that has availability for your requested week allotment. The reservations can be made to a host of global resorts and hotel chains. You can directly purchase membership at the club or add your allotted weeks to a timeshare club’s database to exchange later.