Change or sell?
If your timeshare is no longer working for you, the first decision is whether to sell it completely, or whether swapping it may be a better option. For example, if you bought a timeshare as a couple and your family has since expanded, you may find that the apartment that you regularly use is no longer appropriate for you as a family.
It may also be that your timeshare is outside of school holidays, but you can no longer take holidays in term time. Well, you can guarantee that there will be someone out there whose children have now left home and they no longer want a timeshare that meets all of your needs. You could therefore look into swapping your timeshare, or even think about converting it to a points based product, which would allow you to take your holiday at a different time each year.
If, on the other hand, you no longer intend to take holidays or have just decided that timeshare isn’t for you, selling your timeshare will definitely be the better option. If this is the case, there are a few other points that you will need to bear in mind.
How to sell
When you decide that timeshare is no longer for you, how to sell a timeshare can be somewhat of a minefield. The most important thing to do is to make sure that you sell through a reputable company. You do need to keep in mind the fact that a timeshare cannot be regarded as a money-making investment. Put another way, you won’t make money on the price that you bought your timeshare for. In fact, you are unlikely to recoup anywhere near the amount that you initially paid for it. That said, you will have saved money on your holidays over the years, so the shortfall can’t really be seen as a loss.
The fact that timeshare is unlikely to sell for the amount that you paid for it means that any company trying to tell you that they will pay you the same amount is likely to be a scam. You need to sell through a reputable company and remember the old saying: if it sounds too good to be true, it probably is.
- Tuesday, 29 July 2014 13:03