PROPERTY ABROAD
This is not a subject where we claim any particular expertise. Obviously, if you are considering any financial investment, you should seek advice from those properly qualified. However, recent economic problems and the weakness of sterling may offer some very specific opportunities.
We would never recommend buying a timeshare, except in very specific circumstances. The problem is that you pay quite a large sum for the timeshare itself and then you are contracted to pay hefty annual ‘maintenance charges’, which can increase over a period. In some cases, these charges get too close to the actual rental cost of the property if you were to book it on the open market. The operators will not only take the timeshare away if you do not keep up the charges but, in some cases, will pursue you in the courts for payment. The resale value of these timeshare weeks can be negligible.
When you buy a timeshare, in most cases, you are just buying trading points in a worldwide rental exchange that will allow you to take rentals anywhere you wish. If you want to do this, it could be that the best way is to buy a distressed second-hand timeshare at a low price simply for the points’ value. You need to make sure that the resort is part of a proper worldwide exchange facility and see what you could do with the points. Obviously, you then need to factor in the cost of annual maintenance. The timeshares that do retain their value rather better are those operated by companies such as... read the rest of this article by signing-up for a free trial issue of Inside Traveller - Save 40% by ordering online now!
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