Deciding Whether to Sell Your Timeshare

You did it. You bought your dream “home away from home.” You have enjoyed your time at the beach or your cabin in the woods, but now you are not sure whether it is the place for you anymore or not. You know that it would cost money to keep the timeshare, but you also know that you might never be able to purchase another one like it. As you try to decide whether or not to keep the timeshare, here are some non-monetary things to consider. 

1.       What does your family think? Many times, family members have opinions about a timeshare. Perhaps they see that no one uses it and they think that it is a great idea to sell it. Other times, there might be a strong emotional connection to the place. Maybe your kids were hoping to bring their children there someday. Talking to the family can help you make your decision.

2.       Where is it? If you have a timeshare in a picturesque area of the world that will soon be overrun with civilization or you have a place that is in a city that is shrinking, evaluate whether the place is going to stay a place you want to vacation to or not.

3.       How can you use it in the future? Do you still have the same interests and hobbies as you did when you purchased the place? If you were an avid skier when you purchased the house in the Rockies and now you are in a wheelchair, the place may not be for you.

As you consider whether to sell your timeshare or not, you can look into what work is required in selling a timeshare. Looking up how to sell a timeshare will give you an idea of the different types of selling procedures, such as using direct transfer timeshares or entering into an escrow agreement. By using things like direct transfer timeshares, you can avoid a lot of the hassle of selling your place, and escrow agreements take out a lot of the hassle of dealing with the interested parties; however, before thinking about all that, you do need to ask yourself whether selling your timeshare is something that you want to do.