Many timeshare owners originally saw their purchase as an investment. The unfortunate truth is timeshares are often far from appreciating assets. They bring with them an onslaught of hidden fees and inconveniences that quickly leave owners wondering what they got themselves into. Once reality sets in, many ask “How much is my timeshare worth now? Can I sell it?” The answer depends on your unique situation.
Where to Start
When trying to find out the answer to “how much is my timeshare worth?” – there are some main factors to look at first. For example, what type of unit is your timeshare? One bedroom? Three bedrooms with a view? The rule of thumb is that better views, more amenities, and larger units will garner a higher resale value. The location of your timeshare also affects its resale value. For example, one at a 5-star resort in Hawaii is going to have a higher resale value than one on a small beach in North Carolina. Likewise, a timeshare with amenities like gyms, private beaches, golf courses, and pools is going to be more valuable than those without them.
Access also plays a large part in resale value. The time of year you can book your timeshare as well as whether you have floating or set dates affect the price. The more flexibility in access, the better. Being able to use a timeshare for every holiday is much better for resale value than one where you can only visit on set dates in the off-season.
Low-Resale Value Timeshare
Unfortunately, unless you have a highly flexible luxury timeshare in an amazing location, more often than not it will essentially have no resale value. Many timeshare contracts restrict owners from transferring ownership to another party, leaving many sitting on a high-value timeshare without any real value. Now developers rent them out for a couple of hundred dollars. Instead of locking themselves into a contract, people can rent the timeshare like a hotel room so there is no point in purchasing someone elses’.
Why It Matters
If you are happy with your timeshare, then the resale value really isn’t an issue. However, many timeshare owners find themselves in a situation where the maintenance costs and hidden fees from their timeshare outweigh the actual benefits. They may even realize that they have paid substantial costs for years, without ever even using their timeshare. If you are in this situation and selling the timeshare isn’t an option, it’s probably time to look into cancellation services.
How Much Is My Timeshare Worth?
If you aren’t happy with the answer to this question, timeshare cancellation services may be your best option. It’s a hard pill to swallow but the only real option to free yourself is to cancel your timeshare. At Timeshare Legal we offer a way out. For qualified candidates, we can completely cancel all recurring points and credits and any outstanding financial obligations owed directly to the timeshare developer.
If you still enjoy your timeshare but upgrades have gotten you in over your head, we also offer partial cancellation services. We will reduce your ownership to a more manageable level where you will still be able to travel within your budget. As one of the most respected and trustworthy timeshare cancellation companies, we are committed to helping our clients find the best possible solution for their timeshare issues.
The lifespan of timeshare ownership often has a certain trajectory of disappointment. You are sold a dream of an inexpensive vacation getaway that’s there when you need it and take care of when you don’t. The timeshare salesperson will buff up their sales pitch by floating the idea that you can eventually sell or rent out your timeshare. Once the maintenance fees, blackout dates and other shortcomings of the timeshare become apparent, owners will start looking for a way to free themselves of the burden. Unfortunately, selling and renting a timeshare is not as easy as you might hope and you should probably cancel your timeshare instead. Contact us today!