Timeshare schemes can be divided into two main types: points system or blocked weeks. The first timeshare model in the 1960s began as a blocked week plan, but today there are more variants to suit all kinds of vacation needs. So what are the benefits?
There are many advantages to both timeshare schemes and deciding which one is best simply depends on your specific needs and requirements. The point system refers to buying points equivalent to a timeshare purchase which enable you to use those points as credit for a vacation property, while a blocked week is just that, you buy a week or more in a chosen unit.
When you buy a property using the points scheme, you have greater flexibility about when and where you vacation and for how long. This is usually a beneficial option with timeshare operators who have a large repertoire of properties in different locations. It means that you can select where you go and for how long based on your points. It might also mean that you have points left over for a more luxurious property the next time, or a longer stay the following year.
So how it works is that you buy points equivalent of a week (or two, three four etc) in a particular type of property (two bedroom, three bedroom etc) and you can then use those points to tailor your vacation to meet your specific needs. For example, you could buy points equivalent to a one bedroom luxury apartment for two weeks but want to vacation with friends, so you use those same points to stay in a two bedroom apartment for one week. That is the beauty of flexibility.
A blocked week plan refers to a purchase of a specific week or weeks in a particular unit in a specific resort. The variants of this option are outlined below:
This is the standard option. You identify the week(s) of the year that suit you and buy the rights to your property for those weeks. Let’s say that you can only travel during school vacations, so you choose week 34 (during summer) and week 51 (usually Christmas week). You are then guaranteed your timeshare during those weeks every year and do not need to battle to get those dates. Due to the demand of certain weeks, not all dates will have the same cost, so that is worth bearing in mind when purchasing a fixed week.
When you buy floating weeks, you do not have to choose specific weeks from the get go, but you choose a period from which you can select your dates when you know what you are doing for your vacations that year. You might choose the right to use weeks during the winter or spring, for example, to escape the colder seasons. Usually, however, floating weeks do not guarantee prime holidays.
Rotating weeks seek to offer a fair share to all owners as everyone has the opportunity to access the most popular dates. How this works is that the week moves forward or back each year, so that the prime dates rotate. The advantage of this scheme is fairness and variety while still being able to plan ahead.
Finally, even when purchasing blocked weeks, it is worth remembering that there are a number of vacation clubs that translate weeks into a points system should you wish to trade you week for another destination. That gives you the freedom to try other places but the reassurance that you have the rights to your property on the dates that you want no matter what.
In order to gain popularity and reduce its bad reputation, Timeshare industry found itself obligated to innovate their timeshare systems. Nowadays, there are different plans to buy a timeshare, and one of the most popular is the points system.