There is much confusion about the whole timeshare market and what it does and does not offer. Timeshares, at their best, are simply a fractional ownership of a specific resort property. That is, a timeshare allows you to purchase the right to use a given property a certain number of days per year. So far, so good, right...

Personally, i think there's a lot to like about timeshares and you can read about all the benefits from anyone. Here are a few problems areas I see however in the whole timeshare idea. These may or may not be important to you. The key to understand is that many people take advantage of a timeshare purchase, use it for years and are very happy with their purchase.

One weakness in this whole process however is that although you only have use of the property a certain number of days per year, the maintenance costs continue forever regardless if you've completely paid for the timeshare interest or not. So you end up with a timeshare payment and a property maintenance fee. Now this is completely understandable given that the property needs to be cared for, painted, maintained etc. throughout the year and not just when you're in residence. Still, I don't like the thought of paying sometimes hundreds of dollars a year in maintenance costs over the initial thousands to buy the timeshare, for the privilege of using the property 1 or 2 weeks a year. I guess if the maintenance fees are reasonable, this may not be an issue. It doesn't suggest however to anyone considering a timeshare purchase to check the ongoing maintenance costs before signing up

Commitment to the property. If your timeshare is in Aspen Colorado, your vacation plans are pretty much set year after year. Want to go to Florida and Disney World this year? On top of planning for the trip to Florida, you also need to decide what to do with the timeshare in Aspen during that vacation time. If the property is popular, the management of the property could sell your space for this year. This works out great as long as the property is in demand and your space can actually be sold during that time period.

Another option is the timeshare trade. Companies specialize in trading timeshare time to allow you the benefit of using someone elses timeshare in Florida while another family uses your place in Aspen. Again this works well only if your property is in high demand. You probably won't be trading your timeshare in Death Valley for a place on a Caribbean Island anytime soon.

If you are still considering a timeshare, on top of the price etc, here are three important things to consider before making that purchase.

1. What are the Ongoing maintenance fees. These costs should be reasonable and not a burden on your budget.

2. Only select a timeshare property in a popular area. Although they may cost more, a popular resort is much easier to trade allowing you maximum flexibility with future vacation plans.

3. Select a popular time slot. Again, the most popular time slots are more expensive but high season is high because everyone wants to vacation at that time. Again a high season time slot at a popular timeshare will almost guarantee easy trades to allow you and your family to enjoy other locations.

In the end, if you decide a timeshare is for you, it's possible to gain some important flexibility by selecting the property and time slot carefully.