Timeshares are far less popular these days, as more and more people realise that they don’t actually offer a good investment like they claim, with many people who bought shares in a holiday home in good faith being lumbered with ever increasing maintenance costs and no way out.
Indeed, timeshares can even become the responsibility of family members after the owner passes away, which may have sounded like a great legacy when the deal was struck, but is now nothing more than a financial burden with people turning to independent experts such as the for advice.
So if you have been considering purchasing a timeshare, it is well worth reconsidering, especially as there are plenty of other options to give you and your family a fantastic summer holiday without the hassle. Here are our top three!
Buy a holiday home
Often for people who purchase a timeshare, the attraction of having somewhere that you and your family can return to year after year was likely one of the big factors in making that decision.
But why not simply buy your own holiday home outright? It may seem like a huge commitment to make, and involves a large initial cost, but when you take into consideration the costs of a timeshare which are often outside of your control and increase year on year, and the fact that people have great difficulty ever getting out of them, the benefits of buying a property become clear.
The clearest benefit is that you will be able to visit it whenever you choose, rather than being restricted to just one week, as with a timeshare. You can also rent it out when you aren’t using it, which often fetches far more than your standard buy to let if rented as a holiday home!
Rent someone else’s home
Having space to spread out as a family can be really valuable, as can things such as laundry facilities and a full kitchen!
What’s more, you can stay in some absolutely breathtaking accommodation, from luxurious tree houses to airy Manhattan lofts or English castles.
A package holiday
The good old package holiday is seeing an increase in popularity at the moment, for a number of reasons. Not only is it convenient to be able to book quickly and easily without having to do too much of the work yourself, but often these holidays are great value.
Whether you bag yourself a last minute beach holiday or a relaxing city break, you’ll be able to find something to suit your summer holiday needs.
We hope this has given you some insight into why a timeshare may not be such a great investment opportunity after all, and some of the alternatives that are out there so that you can still have the holiday you want without the long term baggage!