Timeshare – Keep it Or Sell It?

In an economic crisis people want to sell their real estate, some even need to sell it. If an economical downturn is not affecting you, then this is the time to buy or at least keep assets. An economical crisis is clearly a buyers’ market, no matter what you are buying. Everything is more affordable, and at the end of the economical downturn, it will be much more valuable than its current price. Timeshares owners should be aware that during a crisis, it may not be a great idea to get rid of a timeshare. Not only because timeshares are difficult to sell in general, but because there simply aren’t lots of people thinking about vacations. An economical crisis is the time were people think about saving or investing.
If you were thinking about selling your timeshare and pay for accommodations on your vacations, you probably should think again. As an owner of a timeshare, you have already paid for your vacations. Selling it won’t bring you back the same amount of money that you spent on it. Unplanned expenses, like vacations, can hurt your budget more than keeping a timeshare. Don’t expect to get the same amount of money for it that you paid some time ago.
A timeshare is not only an accommodation. Hotels don’t offer the same degree of comfort and privacy that a timeshare can. Most timeshare buyers bought a timeshare because they appreciate the relaxed family vacations of a timeshare with other timeshare members.
If you are having troubles paying for your timeshare its best to call the company that manages your timeshare program and try to negotiate a solution. Some companies offer the possibility of deferring the payment for a couple of months or renegotiating the length of the contract.
Timeshares can also be rented, since it is your property. Most timeshares’ contracts don’t include any clause against renting a timeshare. If you really think that people are interested in your timeshare, rent it to keep the payments at bay.
Think about why you bought the timeshare in the first place. Was it for spending time with your family? Do you have any alternative to this activity if you sell it?
Buying or selling should be done at the right time. Facing financial difficulties during a crisis is certainly a bad time for getting rid of any asset. If you do need to get out from under your timeshare make sure you avoid common timeshare mistakes so exiting it can run smoothly.

Tab Pierce is an executive sales leader and security professional who has spent years as a serial entrepreneur. He has owned successful companies within eLearning, data management, telecommunications and others. He has also successfully assisted companies integrate sound sales processes into their organization.