Many people believe that buying a timeshare can help them plan and execute their dream vacations. After all, what could be better than knowing you have a place ready for your annual vacations? It sounds perfect, doesn’t it?
Timeshares agreements aren’t as simple and generous as they’re made out to be. They come with hefty maintenance costs and can take a toll on your finances.
Here are a few alternatives to getting a timeshare.
The travel and hospitality industry has transformed significantly with the rise of Airbnb. These are residential rental spaces (houses or apartments) that allow you to stay in a cozy home during your vacation. Think of it as staying over at a friend’s house, except that the friend isn’t home and you get the space to yourself.
Airbnb homes come in all shapes and forms. You can choose a place to stay that has your desired amenities, such as a TV lounge or a kitchen. The “home-y” environment offered by Airbnb homes makes them more affordable. You can easily book an Airbnb home in advance at your desired location, eliminating the need for investing in a timeshare.
Hotels & Resorts
Don’t forget about good old hotels and resorts! Think about it, do you really need a resort-like experience at a timeshare when you can just stay at a resort instead?
If you’re worried that staying at a resort will be expensive, think of it this way: you’ll only be paying for the time you spend at the place. Once you check out, you don’t have to make any additional payments. Your hotel expenses will still be less than your annual timeshare maintenance fees. Moreover, many resorts offer discounts and deals to vacationers. A little bit of research can help you save costs and enjoy a thrilling resort experience.
If you want a more permanent solution and are convinced you’ll be visiting a certain destination regularly, consider investing in a vacation home. Some people believe that buying a vacation home is akin to buying a timeshare. This isn’t true, as the latter offers fractional ownership.
On the other hand, buying a vacation home gives you complete ownership of your property. You can also use it as a source of passive income when you’re not staying over.
If you’ve already purchased a timeshare and are looking for an exit strategy, get in touch with The Law Offices of Mitchell Reed Sussman & Associates today. Our timeshare cancelation attorneys will guide you through the timeshare cancelation process.
Contact our timeshare exit attorneys for more details.