Timeshares soared in popularity over the past 15 years, but recently, as the economy has dipped; many individuals are reconsidering whether owning a timeshare is really worth it. During boom years, people thought timeshares were a great investment, similar to owning a vacation home, but without all of the other costs associated with it. But now, people are realizing that a timeshare is a pretty poor investment, and are looking for alternatives.
Should You Sell?
The main thing to ask yourself if you are thinking you should sell your timeshare is “do I still use it regularly?” Remember why you bought your timeshare to begin with – was it for investment, or was it because you wanted someplace you could go for at least one week a year to get away from everything?
Also, maybe check in to see if you can trade your timeshare. Many timeshares are actually a part of networks, and you can trade your week for a week at another resort. This allows you to experience a different vacation every year.
However, if you are bogged down because you bought it as an investment, and are tired of paying your annual fees, you probably want to sell.
Factors in Selling a Timeshare
The thing to remember when selling a timeshare is that you probably won’t get what you paid for it. The biggest factor in timeshare sales is price, and you will need to price your unit competitively to get it sold. Do your research as to what other units in your area are selling for, and match or beat those prices.
Second, make sure that you are advertising your timeshare as much as possible, while avoiding timeshare sale scams. There are a lot of places out there that will try to get you to pay a bunch of money up front to sell your timeshare. Avoid these. Instead, look at free or low cost listings that have a lot of properties available. These will most likely be the most reputable.
Finally, contact your resort. Some resorts help current owners sell their timeshares by allowing postings or listings. This could be a good way to get your timeshare sold quickly and easily.