Three Reasons NOT To Invest In A Timeshare In 2017

These days many people are well aware that timeshares are not worth getting themselves involved with, and their reputation has taken a big hit over the years.

However, there are still plenty of people choosing to invest their hard earned cash, which is in part due to the fact that there are just so many different types of timeshare scam being run.

A lot of people are suckered into signing up while they’re already on holiday, and many other sneaky schemes are described in this roundup from the Timeshare Consumer Association who are independent timeshare experts.

That ought to give you a rather good idea of things to be wary of, but if you need any more convincing here are three very good reasons to not invest in a timeshare this year.

You can’t make money off it

Contrary to what you’re likely to be told, you won’t own any actual property if you buy a timeshare, but merely the right to book a week somewhere.

Investing in property usually gives you the opportunity to either benefit from being able to rent it out when you do not need to use it yourself for some extra income, or even sell it on for a profit some years down the line. However with a timeshare, neither of these are possible and in fact, they are a drain on your finances.

There are much better holiday options

There are so many different options now when it comes to taking a holiday that buying into a timeshare simply doesn’t make sense.

The humble package holiday has seen a rise in popularity again in recent years, as people love how easy it is to book an entire trip in one go and have everything taken care of. From beach holidays to skiing trips you can book your dream holiday with a few clicks, whether you’re traveling as a family or even alone.

Then there are sites such as Airbnb which now allow you to truly experience a home away from home, and rent out whole houses and apartments. This is a great option for those people who want a little bit more space, privacy, and amenities such as laundry facilities and a place to cook.

Of course, if it’s a holiday home you’re after then buying your own property abroad may sound like a scary prospect and a large cost, but in fact could be the perfect investment as you will actually have the ability to rent it out for extra income, which could even cover your mortgage making it a far more savvy option than a timeshare.

You’ll be stuck with it

Timeshares are extremely difficult to get out of once you have been trapped by one, and those who had invested in one in the hopes of one day selling it on will actually find that they have to pay ever-increasing maintenance fees each year, with no prospects for getting out of it.

Some people even end up donating their timeshares for free in order to ditch the financial burden they turn out to be!

We hope this has given you some idea of what you would in fact be getting yourself into if you were to invest in a timeshare, and hopefully some rather solid reasons why you should avoid doing so!