A guide to timeshare MzansiBride

Winona Griggs

A Beginner’s Guide to Timeshare

Welcome! Today, I’ll explain what timeshare is all about and why it can be a great option for your family vacations.

So, what exactly is timeshare?

Let me break it down for you in simple terms. Timeshare means that you and other people share ownership of a vacation home. It’s like having a holiday property buddy! With traditional timeshare, you get to use the same property for a specific week every year. And get this – you might even get to stay in the exact same unit each time. That’s pretty cool, right? It’s a way to lock in your holiday plans and never worry about finding a place to stay.

If you’re looking for a new way to travel and experience different resorts, a points-based system might just be the perfect solution for you. Let me explain how it works.

With a points-based system, you join a club like The Holiday Club and pay an annual membership fee. This gives you the opportunity to buy points that you can then use to book nights at various resorts. The great thing about this model is the flexibility it offers. You can choose when and where you want to go, which is a huge advantage.

However, there are a few things to keep in mind. If you don’t book in advance, your first choice of resort may not be available. So it’s always a good idea to plan ahead and secure your spot early.

Points clubs also have some great deals for last-minute bookings to specific resorts. These can be a fantastic option if you’re flexible with your travel dates and don’t mind going at any time of the year.

READ  Four tree species have been added to South Africa s National Forest Act

One more thing to consider is that midweek stays are often cheaper and offer better value for your points. So if you have the flexibility to travel during the week, you can make your points go even further.

So what exactly does a timeshare get you?

When you own a timeshare, you pay an initial purchase price that can be quite different depending on factors like the time of year and the size of the unit. The price can range from as high as R70,000 for in-season weeks at popular resorts to as low as R8,000 for resale weeks during the low season. Additionally, there is usually an annual levy that owners have to pay, with the average being R3,600.

If you want to save money on your timeshare, there are a few strategies you can consider. First, try to avoid booking weeks that fall during school holidays and public holidays. These weeks tend to be the most expensive, so by choosing off-peak times, you can keep your costs lower. Another tip is to buy weeks that are outside of the typical seasonal trends. For example, instead of going to the beach for Christmas, you could go to the Lowveld where there is less demand during that time of year.

Timeshares abroad

If you have a local timeshare, you have the option to bank it and exchange it for time at resorts abroad. This can be done through your own club or resort, or through exchange groups like iExchange. The great thing about this is that you can make a booking using your own currency and take advantage of the value you already have. It’s like getting a discount on your vacation!

READ  Six spots for traditional South African dishes MzansiBride

When you’re thinking about joining a exchange club, it’s important to consider its reach. Are there resorts in the places you want to visit? You can usually book up to two years in advance for overseas exchanges, and the earlier you do, the more choices you’ll have. Before you deposit your week, find out how much credit the exchange group will give you for it and which resorts in your desired destination have units and weeks that are of similar value. Strategically, it’s best to own a good week in a highly-rated local resort to get the most value out of international exchanges. Keep in mind that most groups charge an international exchange fee, so don’t forget to include that in your calculations.

Make sure you know your timeshare rights

Before you sign any contracts, carefully review the financial responsibilities and exit clauses. It’s even better to have an advisor or lawyer look over the contract for you. Timeshare companies that are accredited with the Vacation Ownership Association of Southern Africa (VOASA) are required to provide a five-day cooling off period, as mandated by the National Credit Act.

Leave a Comment