Charles K. started out in timesharing just four years ago, but he already owns seven weeks of timeshare in South Africa, almost always has nearly two dozen confirmed exchanges in the works, and usually has three or four additional weeks on deposit in an exchange company's space bank, awaiting trades.

Charles says that when you are just starting out in the world of timeshares, you have to take other people's opinions cautiously when discussing how best to make use of your investment. For instance, he says the Timeshare User's Group — of which he is a member — is a great consumer organization with combined knowledge that is “light years ahead of any other source and an excellent reference.” On the other hand, Charles warns that most of the group's members (like most people the world over) have strong opinions about what works best for them, based on their own experiences — which may be drastically different from your own personal situation.

“There are many ingrained prejudices and pet theories floating around there,” Charles says. “It seems that everyone has a system that works for them, and they defend it to the death.”

Having said that, there are some tips that current timeshare owners offer for newcomers. Chris, for instance, says he prefers to use timeshares at brand-name resorts because they give him more amenities to choose from.

“One of the best features of the newer hotel-based timeshare properties is that they are often located on the same property as one of their luxury hotels,” Chris explains. “Examples are Marriott's Canyon Villas, which are adjacent to the J.W. Marriott Desert Ridge Resort and Spa in Phoenix, and Starwood's Harborside Resort, which is adjacent to the Atlantis Resort and Casino on Paradise Island, Bahamas.

“As a guest at these timeshares, you normally get full access to the hotel's amenities in addition to the amenities exclusive to the timeshare. The timeshare amenities typically include things like a pool, workout facility, and a small convenience store — enough to have a nice, relaxing vacation. But by sharing the amenities of an adjacent resort hotel, you also get access to fabulous restaurants, spas, golf, mega-sized pools, and water slides.”