Vacation Ownership
The term Vacation Ownership is tantamount the same as timeshare. When you purchase a Vacation Ownership property, you will be purchasing either an interval week or timeshare points system that has an allocation every year, or every other year for the length of the agreement. For a one off price and an annual maintenance fee, you will own a fully furnished apartment within a Vacation Ownership program. Each unit within a Vacation Ownership program is divided into intervals either on a weekly basis, or a points equivalent. The cost of a Vacation Ownership program will depend on a number of factors including, size of unit, location of the resort, unit facilities, resort facilities and season, or amount of points owned. In most cases unit owners share the use of the unit purchased and the common areas within the resort property. The annual maintenance fees contribute towards to total cost of running the resort development including the interval unit and the common grounds.
Vacation Ownership programs enjoy the same flexibility as vacation club and timeshare ownership through one of the top exchange company networks. Owners enjoy the same luxurious exchanges to many destinations through their Worldwide portfolio of vacation / timeshare resorts. Consumers who purchase a Vacation Ownership program lock in the price of their future holiday accommodation at todays prices. Most Vacation Ownership programs will pay for themselves within about five years. Current Vacation Ownership owners often say that the cost effectiveness and flexibility afforded by their ownership are the main reasons for their purchase. Vacation Ownership purchases are often financed by five to ten year loans, with terms depending on the Vacation Ownership purchased and the amount of deposit paid.
The accommodation provided by Vacation Ownership programs is substantial and luxurious, just as if you had purchased a second home, or holiday home. Your off payment will allow you to secure the size and quality of future accommodation. Unlike a hotel room or condo, vacation ownership is purchased at a fixed cost which secures the future costs of your holidays or vacations. Therefore, Vacation Ownership provides huge savings on annual holidays for the life of your agreed ownership. The facilities at Vacation Ownership resorts are on par with any resort properties locations, or country club membership, including amenities such as golf course complexes, equestrian centres and Health and Spa facilities. Most Vacation Ownership properties are extremely well staffed with well-trained hospitality professionals.
Go back to Timeshare Glossary of Terms
