If you’re considering buying a timeshare, it’s important to understand that there are a variety of different contracts offered. The type of system that governs your timeshare agreement will have a significant impact on your timeshare experience. It can affect:
One of the most common timeshare contract options uses a fixed week system. This option presents several important advantages and drawbacks. Your unique needs and vacation preferences will determine whether this option is right for you.
A fixed week timeshare gives you access to one specific unit at one specific resort on the same week every year. Traditionally, fixed week systems were the most common option available. However, many resorts have moved away from this model in recent years in order to address the growing desire for greater flexibility among timeshare owners.
In most instances, fixed week timeshares are deeded timeshare contracts. This means you own a percentage of the property based on the number of weeks you’ve purchased. For example, if you purchase one week per year, you’ll own 1/52 of the unit. You receive a deed to the property, and your ownership, along with all the financial obligations associated with this ownership, will continue for the rest of your life. When you die, your heirs will inherit the timeshare.
With a fixed week timeshare, the purchase price of the unit and the cost of your annual maintenance fees may vary based on the desirability of the week you have access to the property.
The primary advantage to a fixed week timeshare is predictability. You’ll know exactly when you have access to the property, because your unit will be available to you on the same week every year. This will make it easier to plan your vacation, and it will eliminate any issues associated with being able to secure your desired week on a particular year.
This option is ideal for families looking to plan their vacations around school breaks since purchasing a week that falls during school holidays will guarantee you access to the property during that same time each year. It’s also a great option if you’d like to use it at the same time every year to celebrate an anniversary, hold a family reunion, or commemorate some other special event.
In addition, you may have a greater ability to rent out your week since you’ll know exactly when you have access to the timeshare well in advance. Keep in mind that the ability to rent a timeshare is always subject to the demand for your unit and resort location at the time of year you have possession of it, and there’s no guarantee you’ll be able to rent it out.
If you prefer greater flexibility in your vacation options, fixed week timeshares aren’t the right option for you. Since you’re locked into the same unit at the same resort location on the same week every year, you essentially have no flexibility. While this rigid usage structure may be acceptable to you at first, you may find that over time, you become bored taking the exact same vacation in the exact same spot year after year. If this occurs, you are basically stuck unless you’re able to get out of your timeshare.
In addition, if an unforeseen event arises during your specified week which prevents you from using the timeshare, you won’t be able to reschedule for another week. Unfortunately, you’ll still be responsible for maintenance fees, mortgage payments, and all other annual costs associated with your timeshare even if you aren’t able to use it in a particular year.
You’re also placing a great deal of trust in HOA managing your timeshare resort when you choose a fixed week contract. In theory, your pricey annual maintenance fees (they currently cost approximately $1,000 per year on average) should ensure the resort remains in excellent shape. These fees are used to maintain your property, repair and upgrade amenities, take care of landscaping and provide a variety of other important services. However, there is a great deal of variability among HOAs regarding how well they maintain their resorts. If you get stuck owning at a poorly run resort, you may find that you’re paying a lot of money each year for a subpar vacation experience.
If you’ve decided that your fixed week timeshare no longer meets your needs, you have options. Timeshare Termination Team can help you cancel your contract, freeing you from the constraints of this restrictive vacation model. We use attorney-based solutions to safely, legally and permanently get you out of your timeshare. We’ll carefully evaluate the specifics of your contract to design a customized exit strategy that helps you live life on your terms once again.
We’re the only timeshare cancellation company in the U.S. that offers an exclusive You First Approach™ guaranteed to permanently get you out of your timeshare. This process has helped us achieve a 100% success rate with our clients.
As the name implies, our approach puts your needs first throughout the process. Our top priority is to help you gain the freedom you desire from your timeshare burden, and we’ll work closely with you to identify the right strategy to address your unique needs and goals. As part of our You First Approach™, you’ll benefit from:
You deserve to live life without limits. This includes the way you travel and enjoy vacations. At Timeshare Termination Team, we believe that you shouldn’t be locked into a financially crippling vacation model for the rest of your life. We’re here to help you gain the freedom to travel to new locations and experience different cultures on a budget that works for you.
Please contact us today to schedule a free consultation. Start your journey toward freedom from the burdens of timeshare ownership.
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