How much is your timeshare worth?
Prior to deciding how to get rid of your timeshare, the most important thing you should do is determine how much your timeshare is worth. One of the most common mistakes owners make is assuming that since they paid 10 to 20 thousand dollars for their ownership it’s still worth nearly that much. Unfortunately, this simply isn’t true.
The American Resort Developer Association (ARDA) notes on their website that a timeshare is a “use” product, which means the owners derive the value from the annual vacations they take, it also means that a timeshare is not an investment.
Look at nightly rental rates
Compare your annual maintenance fees to the cost of similar lodging, look at sites like Trip Advisor to find comparable resorts. Keep in mind that a hotel usually isn’t comparable to a timeshare. The amenities (such as a kitchen and in-room laundry) and size need to be similar for an apples-to-apples comparison. If it’s cheaper to stay by booking on sites like expedia.com, hotels.com, or kayak.com, that means there is little to no value to pay upfront for the right to stay at your timeshare. If you find there are some savings, just ask yourself, how much would I pay upfront to save X dollars per year.
Search sold auction listings
Look at auction listings. eBay has a great, completed listings search function that will allow you to look for sold listings of your particular resort. This is usually better than looking at listing prices because these represent actual sales prices rather than listings. These are usually more revealing than relying on what other people have listed their ownership for on timeshare specific sales websites.
Would you like to buy a timeshare again?
Reassess your own decision to buy. How much value do you feel you got from your timeshare? Would you purchase it again know what you just learned about travel prices during your research on Trip Advisor? Honestly answering these questions will reveal a lot about how much you can expect to get for your timeshare, after all, if you wouldn’t buy again, why would anyone else?
The Timeshare Specialists Difference
Timeshare Specialists has been a leader in Timeshare Divestment since 2014, we’ve helped thousands of owners just like you find the right way to get out of timeshare ownership. Our goal is to be sure you make the right decision so we’ll assess your ownership and let you know your options.
If you choose one of our guaranteed options, we promise you’ll never pay another fee and since we don’t charge up front, there’s zero risk to starting one of our programs. Our Award winning team is ready to help you today!
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Resort Closings, Inc is a licensed and bonded escrow company specializing in the legal transfer of timeshares, if you need to transfer your ownership to a new owner, they can help!
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