Destin Timeshare Buyer Frequently Asked Questions
Do you have questions about Destin timeshares? We have your solution. Find the answers to frequently asked questions about purchasing Destin timeshare below.
If you have questions about buying a Destin timeshare that didn’t make the list, all one of our Destin timeshare specialists at 1-855-299-3837.
What are Timeshares? How Do They Work?
Timeshares are a form of joint vacation ownership. When you buy a timeshare, you are buying a set amount of time at a particular resort to be used every year. This length of time is usually one week, but it can vary. If you want to return to a specific destination like Destin year after year, buying a timeshare is much more cost effective than purchasing a vacation home.
What is Timeshare Resale?
Timeshare resale is a timeshare that is sold by the current owner, instead of the resort. Timeshare resorts are high priced due to the high-pressure sales tactics often used to convince potential buyers. When you buy a timeshare resale, you aren’t paying for administrative and marketing costs. Instead, you pay the fair market value of the timeshare, which is often thousands of dollars less than the resort cost.
What are the Different Types of Timeshare Deeds?
Deeded timeshare is a timeshare that is fully owned by you. You may sell or rent your timeshare at will, and it can be passed on to your heirs. There is no expiration date for a deeded timeshare.
Right-to-use timeshare is a timeshare with a contract for a set number of years. You are paying for the right to use this timeshare for that number of years, which is usually between 20 and 100. If you purchase a right-to-use timeshare resale, you are only purchasing the remaining years in the contract. Be sure to ask about the contract when you are purchasing this type of timeshare.
What are the Different Types of Timeshare Ownership?
Fixed week ownership gives you the same week every year. You may use that specific week each year for as long as you own the property.
Floating week ownership allows you to choose which week of the year you vacation. Availability to reserve the week of your choice will depend on the resort.
Flex week ownership is similar to floating week in that you may choose the week of your vacation, but flex week has some restrictions. You will be assigned a specific season, and you may choose a week only within that season.
Points ownership does not give you a specific week to use. Instead, you are allotted points for a vacation club, which you may spend on your choice of week and destination.
What Other Fees are Associated with Timeshares?
In addition to the cost of purchasing your timeshare, you will be expected to pay an annual maintenance fee. This fee covers usual maintenance on the resort as well as property taxes. Some resorts require a membership fee, which allows you to join vacation clubs and travel to other timeshare destinations. This fee is usually combined with the maintenance fee.
You may occasionally need to pay a special assessment fee as well. This fee is for unusual cases of damage to the resort, such as hurricanes or tornadoes. You will not have to pay this fee annually, and some timeshare owners are never required to pay it at all. Before purchasing your timeshare, ask how many special assessment fees the previous owner was required to pay so that you can get an understanding of how many you can look forward to.
What is a Timeshare Exchange Company?
A timeshare exchange company is an external company which allows you to exchange your timeshare for another resort or week. Many owners consider this a good option for the flexibility for vacationing it provides. You can join an exchange company by paying an annual membership fee. Some resorts are affiliated with specific companies and have the membership fee included in the annual maintenance fee.