Timeshares might look great when they are described during the sales pitch, but in fact, they are not very lucrative investments and they always leave you asking how do I sell my timeshare property without damaging my credit. Here is why:
- Reduced flexibility – one of the aspects that most dissatisfied timeshare owners mention is having to spend all their vacations in the same place, in the same period of each year, for the same interval. Life is hectic for all of us and most of us cannot guarantee that we will be able to take time off work the same time next year, too and even the most exciting seaside resort becomes boring after a few years;
- Expensive maintenance – the maintenance fees charged from owners are used by the property management company to cover utilities, taxes, insurances, taxes, management fees and others, often amounting to sums that are higher than the costs of a one-time family vacation in a hotel, a camping or in a vacation home rented for a couple of weeks;
- Difficult to get out – it is not impossible to get rid of your timeshare contract, but the second-hand timeshare market today is dominated by supply and not by demand, so you might need to be wait for months for a buyer and you might not be able to ask more than half of the price that you paid for the property.
First Posted here: Why Timeshares Aren’t Lucrative Investments
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