Size of Timeshare Ownership
Studio: A small unit, usually similar to a hotel room. Sleeps two,- sometimes four.
One Bedroom: Similar to a small apartment: a living room area, kitchen area, with a private bedroom. Usually sleeps four (two in the bedroom and two on a pull-out sleeper sofa in the living room area).
Two Bedroom: Usually sleeps six (two in one bedroom, two in the other bedroom and two on a pull-out sleeper sofa in the living room area). Some two bedroom units can sleep eight.
Lock-Out: Sometimes called A/B units. These units vary in size, usually divided into two separate apartments. Each with its own bedroom/living room area. One side usually full kitchen the other side can be anywhere in size from a hotel room to a full apartment. If you own a Lock-Out unit, you can use one and exchange or rent the other. These units can be big enough to sleep eight to twelve people.
Costs of Timeshare Ownership
Pricing is set by the owner. Prices reflect the size of units, time (color), preferences and location. Realize that deeded properties will be more expensive than other types of ownership due to the fact that they have an equity base.
Location can also play a huge role in pricing. Specifically lakeshore, seashore and mountain areas are expensive in their own right. Even when deeded with other people (timeshare) does not cause the property value to drop.
Now it is easy to see that a deeded two bedroom unit, in a popular area during "Peak Season" would cost a lot more than a studio unit during the "Off Season".
Purchase Price: The amount of money paid for ownership plus any "transfer fees" (can range from $50 to $500).
Maintenance Fees: The amount of money paid annually for maintenance of your unit. This amount can range anywhere from $300 to $900.
Property Tax: The amount of tax to be paid by you for your time share unit. This amount is usually reasonable, ranging from $10 to $100. Many times this is part of the maintenance fee (Check your paper work).
Special Assessment: This is the amount of money the resort can require you to pay on a irregular basis. Usually for a remodeling project, check your timeshare documents for the maximum amount that can be charged and how often they can charge you. This amount can range from $20 to $400; you may want to check the resort history record for past amounts and times.