When it comes to taking a holiday abroad, many people are still looking at investing in a timeshare for their future trips.
Marketed as a cheap way of owning your own slice of paradise in your favourite holiday destination, these timeshare properties have been touted by developers since the early 1960s. And, aimed at retirees and families in the guise of a stable holiday base, it’s believed that around 22 million households worldwide have invested in a share of a holiday home.
Unfortunately, however, it’s recently come to light that these ‘cost-effective’ timeshares are too good to be true. Many consumers end up tied into a long-term contract (often lasting until their death), paying extortionate maintenance fees, and struggling to sell on their share.
With that in mind, if you’re thinking of investing in a timeshare, we’ve found three better alternatives.
Renting a holiday home
Many people opt for investing in a timeshare because of the home from home feel that comes with it. Often equipped with all the mod-cons you would find in any other residential house, a timeshare was often seen as the best way to get this homely feel whilst on holiday.
However, with the rise of sites such as Airbnb, HolidayLettings and Owners Direct, you can have access to a home without the legally binding contract, by renting out someone else’s slice of paradise for the duration of your stay.
With destinations across the globe, lots of different holiday homes to choose from, and budget-friendly prices, you can achieve that homely feel without the risks.
Renting a holiday home gives you the flexibility to choose lots of different destinations and even gives you the chance to rent a treehouse!
Package holiday
Another reason that people tend to opt for timeshares is because of the added luxury that comes with them.
Timeshares usually have a high standard of accommodation and tend to include lots of extra perks, such as leisure clubs and gardens, as well as low costs once you arrive, due to the ability to prepare your own meals.
However, this can all also be achieved with a package holiday. All-inclusive vacations are based on affordable, luxury accommodation and come with all of the same perks of a timeshare, if not more. And, due to paying for everything before you arrive, you can also reduce your expenditure once you’re there.
For more reasons to book a package holiday, check out this post by Travel Away.
Buying a holiday home
Another option for getting the homely feel is to purchase your own holiday home, rather than renting it from someone for the duration of your trip.
This is a great idea for those who love the idea of a permanent base to keep coming back to. Obviously, this will depend on how much money you have available to invest up-front, but it can give you the same benefits of a timeshare, without the risks.
We spoke to Timeshare Consumer Association, who said: “Rather than owning one share and having to work around your fellow investors, you have the flexibility to go on holiday whenever you want and for however long you want.
“You also won’t be at the whim of the developer when it comes to ever-increasing maintenance fees and you might be able to make some extra income from renting out the home, so it could even work out cheaper than a timeshare over the long-term
