Do you want to sell a timeshare and finally see a return on your investment you purchased quite some time ago? Are you tired of constantly thinking “I want to cancel my timeshares!”? Well if you have already begun trying to sell your timeshare then you are now well aware of the fact that timeshares, by almost all industry experts opinion, are in no way to be viewed as investments.
So why are so many people selling timeshares right now? Well, for starters, today’s economy is taking its toll on everyone, wreaking havoc on timeshare owners in all income brackets. The economy is making all sides of business harder.
Timeshares are now becoming even harder to own than they were and if they are harder to own, not only are they are going to be harder to sell, but you are going to have a significant amount of people as your competition.
If you are looking to sell timeshare property and are expecting to make anything close to what you paid for it because you were told that they were ‘excellent property investments’, you are going to be in for a rude awakening, because selling a timeshare is almost impossible. I know that the salesman or saleswoman tried pitching the timeshare to you as an investment but, realistically speaking, timeshares just simply are not.
Not only is the economy leaving people with less money, but timeshare “investments” are costing people more day by day as well. For starters, anyone who owns a timeshare will notice that their fees have gone up. In fact, timeshare fees tend to double every ten years.The average maintenance fee is approx. £600-£800, and the average timeshare sells for around $20,000 (Approx. £15,000).
Every day, timeshare owners are paying additional charges on top of their timeshare purchase. They pay out a huge, large sum at the beginning, which is supposed to secure them this land forever, but in actuality, they are being charged substantially more each and every year. The things that timeshare companies will charge you vary greatly depending on the country (or state) specific timeshare laws.
There are several different kinds of indirect costs that come with owning a timeshare.
Let us begin with the easiest and most well-known, the timeshare maintenance fee. These are charges timeshare resorts will charge their owners for an annual clean up or to fix a broken appliance. Everyone knows about maintenance fees, but not everyone knows that they are always increasing until they eventually cost you more than the initial payment you made to actually get the place when you signed your timeshare contract.
Then there are property taxes, something most people hate and don’t expect to be a part of their dream vacation. Moving on, these are the most hard to determine timeshare related charges, which is the random assessments. These assessments are basically charged to every timeshare owner at the resort owner’s will. For example, if there is an earthquake or other timeshare owners don’t pay their dues on time then other timeshare owners will be charged for it.
- Furthermore, let’s not forget the indirect costs.
- How much is around trip airplaneticket to your timeshare destination?
- How much does it cost to go to and from the airport at your departure city andthenarrival city?
- How much will you and your spouse be losing combined taking off that much time from work?
Compile all this information, on top of any miscellaneous charges you are aware of, like the extra cost of food when on vacation, and then simply ask yourself if that is something that is within your budgetary means on an annual basis. If the answer is yes, and you thoroughly enjoy your timeshare and its location, then you should keep your timeshare.
So what is the answer? If after considering your finances and realising that timeshare ownership is no longer in your budget, then yes, you should be getting rid of your timeshare; however, you should not sell your timeshare in light of all the timeshare resale companies in trouble for deceptive practices.
If you need to get rid of your timeshare, call Mercantile Timeshare Claims, we are a timeshare claims company that does not charge any upfront fees and will not tell you we can get rid of your timeshare until we are positive, removing you from timeshare debt forever. We are only one of a few licensed operators working as a No Win No Fee Timeshare Law Advice Companies.