6 Things You Must Know About Timeshares

Tighter regulations and a wider choice of locations make buying in more attractive.

1. What you get. You are purchasing the privilege to use a luxury accommodation in a resort or hotel, usually for one week per year. You get the comfort and convenience of a vacation home with the luxury of a resort, says Howard Nusbaum, president of the American Resort Development Asso­ciation; see ARDA’s guide, “Understanding Vacation Ownership”). Most timeshares are developed or managed by big-name hospitality companies, such as Disney, Hyatt, Marriott and Wyndham. Urban timeshares are a new variation that have taken off in several cities, including New Orleans, New York City, San Francisco and Washington, D.C.

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Patricia Mertz Esswein
Contributing Writer, Kiplinger's Personal Finance
Esswein joined Kiplinger in May 1984 as director of special publications and managing editor of Kiplinger Books. In 2004, she began covering real estate for Kiplinger's Personal Finance, writing about the housing market, buying and selling a home, getting a mortgage, and home improvement. Prior to joining Kiplinger, Esswein wrote and edited for Empire Sports, a monthly magazine covering sports and recreation in upstate New York. She holds a BA degree from Gustavus Adolphus College, in St. Peter, Minn., and an MA in magazine journalism from the S.I. Newhouse School at Syracuse University.