Many Brits own timeshares, and for most these offer quality holidays year-after-year. There are many benefits to owning a timeshare, from consistent service, to value and affordability. However, timeshare holidays aren’t for everyone, and it is therefore essential that those considering buying a timeshare understand timeshare pros and cons.
If you are tempted by timeshare ownership, then read our guide to the pros and cons of timeshare holidays before signing on the dotted line.
Timeshare pros and cons
Timeshare holiday pros
1 – Excellent service
Timeshare holidays ensure quality breaks with a brand that you know and trust, no matter which resort you choose to visit. Timeshares typically offer excellent service and a wide range of amenities coupled with all the comforts of home. This gives people peace of mind that they don’t need to worry about lack-lustre holidays ever again.
3 – Value and affordability
A key pro of timeshare holidays is that they offer great value and affordability, compared to booking one-off holidays throughout the year that are often subject to seasonal price hikes or package deals with features you don’t need. Timeshare ownership means that holidays are already factored into your monthly budget, giving peace of mind.
Not only this, but timeshare holidays often represent great value for money, with resorts offering excellent service and fabulous amenities that you ordinarily may not be able to afford. For example, many timeshares include superb pools, fitness centres, spas, golf courses, kids’ camps, and on-site restaurants. Additionally, many rooms come with a fully equipped kitchen, offering families the option of eating in and therefore saving money on restaurant meals if they choose.
3 – Save time
In a time-poor society, saving time is for many a top priority. With timeshare ownership people enjoy carefree holidays without having to dedicate hours to researching holiday destinations and resorts. With a timeshare holiday you never have to worry about the quality of the resort or whether you will like the destination as you’ll always be staying with a brand that you know and trust.
4 – The world at your fingertips
Many timeshare brands have resorts across the world, so you can opt to enjoy the sun-drenched beaches of the Costa del Sol one timeshare holiday, then the next enjoy the thrills and spills of a theme-park destination such as Orlando. Of course, no matter which destination you choose, you will be holidaying with a brand that you know and trust, giving you peace of mind that you will enjoy a superb holiday.
5 – Pay for what you use
With a timeshare, you only pay for what you use, unlike a holiday home that may end up sitting empty most of the year.You can even let friends and family use your timeshare holiday, or auction it off for charity. Timeshare holidays are designed to offer superb holidays that provide a high level of flexibility.
Timeshare holidays cons
1 – Timeshares are a commitment
For those who want to enjoy hassle-free holidays year-after-year, timeshare holidays are ideal. However, timeshare contracts can be challenging to get out of, which has led to rogue timeshare exit companies. While many timeshare companies offer transparent and hassle-free exit policies, or will work with owners to find an exit solution, some timeshare owners have found themselves falling victim to timeshare exit scams. If you are a timeshare owner who has been contacted by an exit company or have concerns about exiting your timeshare contract, then you should seek timeshare advice from a consumer rights organisation such as KwikChex.
2 – Timeshares can be hard to sell
Timeshares can be hard to sell, and you are almost always likely to sell your timeshare at a loss. Remember, timeshares are a lifestyle purchase, not an investment. If you need to borrow money to afford it, then a timeshare holiday isn’t right for you. If you are interested in a timeshare, it may be better to consider a used timeshare rather than buying a new timeshare holiday.
3 – Timeshares can be monotonous
If you like to enjoy a mix of vacations, such as camping holidays, road trips, or cruises, then a timeshare isn’t for you. However, if you like the certainty of a destination that you know and love, then a timeshare holiday could be right for you.
4 – Expensive travel costs
Before purchasing a timeshare, make sure you calculate your travel costs. That timeshare holiday in an exotic destination may sound like a great deal, but long-haul flights to far-off-lands can be an expensive affair. So, on top of your monthly timeshare maintenance fees, you should also set aside a budget to cover travel costs.
We hope this guide to timeshare pros and cons has helped you decide whether timeshare holidays and ownership is right for you. What other timeshare pros and cons would you add to our guide?
*this is a collaborative post*