When we finally get the chance to head off on holiday for some much-needed relaxation in the sun, it can be tempting for some people to be lured into the spiel of the various timeshare sales reps that you often meet in popular destinations.
The idea of returning year after year to a place where you’re currently having the time of your life can certainly seem tempting, even for those who have heard horror stories about timeshares in the past. Being on holiday has actually been shown to lower your IQ, which makes you far more likely to make bad decisions, so it’s important to be on your guard.
While timeshares are presented to you as a great investment opportunity, they more often than not turn out to be nothing but a financial burden which you will struggle to get rid of. It’s actually not all that uncommon for family members to inherit to the cost of paying the annual maintenance fees when a loved one who owned it passes away.
The Timeshare Consumer Association are independent timeshare advisers, and they sum up why a timeshare is not actually a good investment in this article if you still need convincing.
Luckily there are plenty of great options for a holiday that you may want to consider instead of being lured into a timeshare. We thought we’d run through our top three for you now!
Buying property overseas
First and most obviously, if you are tempted by the idea of returning to the same spot year after year, you would be far better off financially investing in property rather than a timeshare. Buying property is actually a genuine investment, and although it does require some upfront cash, you will be able to rent out your property while you aren’t using it, which will help to pay for your investment.
You’ll be able to do whatever you want to with your property, rather than being restricted to only being able to visit certain weeks, and should you grow tired of the location in a few years time, you have an actual asset that you will be able to sell and possibly make a profit on.
Some people struggle so much when trying to shift their timeshares in an oversaturated market and resort to selling for £1 or even giving them away for free.
A package holiday
The package holiday has seen something of a renaissance in recent years, with more and more brits opting to book their whole holiday in one fell swoop. The ease of not having to spend too much time seeking out the various different elements of your holiday yourself is a huge bonus, and they tend to be great value for money.
Unfortunately when it comes to a timeshare, not only do you have to pay annual maintenance fees (which often rise year after year), but you’ll still need to sort out your flights and transportation to actually get there, so financially you’re likely to be far better off with a package deal.
Get that home from home feel
If you’re tempted by that home away from home feel, then sites like Airbnb which allow you to temporarily rent out somebody’s property might be just what you’re looking for. This is an option that has become more and more popular in recent years and is a great idea for families who need that extra room to spread out rather than cramming into a hotel room.
It’s also great to have facilities such as laundry and a kitchen, and often they are located in less touristy locations so you get to see places from a local’s point of view.