Yahoo Lifestyle The pitfalls of timeshare holiday houses
Reader question: A group of friends are urging me to invest in a timeshare holiday apartment. I’m a bit wary – what are the pitfalls? Sonya, via email.
MONEY: Top tips on finding extra spending money
Kochie says: Firstly, combining friends and money can be very dangerous, so be careful who you enter into financial agreements with. Money disputes aren’t worth losing friendships over.
Timeshare properties aren’t right for everyone. They lock you in for specific dates, so if you like trying new things and exploring different places, then this isn’t for you.
If you’re considering getting a timeshare property, be realistic. You have to use it to make it worthwhile, and if it’s a long drive away, you might not be using it that often. Plus they can be expensive, and hard to get out of if you decide it’s not for you.
When you find a place, check the local area to see what you can get for the same price. It may end up being cheaper staying in a nice hotel than being committed to that one spot year in, year out.
