There are several different types of timeshare Ownership you’re likely to come across.
Fixed-week timeshare refers to the traditional type of timeshare we talked about earlier. When you purchase fixed-week, you can only travel to the same room at the same resort at the same time of year. This is the type of timeshare that was popular decades ago; most Australian timeshare Clubs now use Points-based timeshare.
Floating-week timeshare is more flexible than fixed-week. Depending on the nature of your Ownership/Membership, you might be able to spend your time at your resort during a particular season, or even any point throughout the whole year. Like fixed-week timeshare, though, you’re still limited to a specific location and a specific number of nights.
Points-based timeshare takes the best parts of traditional timeshare and combines them with unlimited flexibility. You’ll join the Club by purchasing a certain number of Points, which will then be renewed each year on the date you joined the Club. During that year, you can ‘spend’ your Points at Club holiday properties by booking out rooms, just as if you were staying at a regular hotel. Unlike a hotel, booking with Points doesn’t cost you anything!
Some Clubs also let you borrow Points from the succeeding year or save points from the preceding year, which can help you accumulate enough Points for a really long holiday – perfect for special occasions or long-service leave.
You’ll keep receiving Points for the lifespan of the Club, which, under Australian law, can exist for up to 80 years. Once the lifespan of the Club is up, Members/Owners can vote to dissolve it and receive their share of the assets, or continue it, in which case you’ll keep receiving Points to spend on incredible holidays.
That’s part of what makes Points-based timeshare so appealing – you can take your kids on holidays with your Points when they’re young, and, once you’ve reached an age when you no longer want to travel, you can bequeath them the Ownership so they can take your grandkids on holidays too!