One out of 12 Americans owned a timeshare in 2014, so if you are a timeshare owner, you are far from alone. However, even though some people enjoy owning a timeshare, others find that it’s not the right thing for them. These are a few of the top advantages of selling your timeshare to another company.
Avoid Paying Interest
First of all, you should think about all of the interest charges that you might be paying on your timeshare. Sure, some people pay for their timeshares in cash. However, if you’re like a lot of people, you might have financed your timeshare. Depending on the interest rate that you might have gotten when you secured the loan, you could end up paying thousands of dollars extra in interest rates and fees. If you can sell your timeshare, however, you can save all of this money.
Avoid Maintenance Costs
Additionally, when you own a timeshare, you have to worry about having to pay out maintenance fees to maintain the property. Depending on the property itself and a few other factors, this could end up costing you hundreds or even thousands of dollars every year on top of the payments that you might make on the loan that you took out to buy the timeshare in the first place. These can be unexpected costs that can really put a damper on the ownership of a timeshare.
Cut Out “Forced” Costs
One of the quickest ways to cut costs out of your budget — such as if you are trying to save money or pay off debts — is to stop vacationing for a while. For many — even those who love to travel — this is relatively easy, especially if they promise themselves a good vacation when they get back on their feet. If you are already paying for a timeshare, however, you might find yourself feeling as if you have to go when it’s your turn. Even though you might not have to pay for accommodations, you still have to worry about paying for airfare or other transportation to get there, expensive food at tourist prices and time missed from work. If you don’t own a timeshare, however, you can pick and choose when you go on a vacation and can choose to go when it’s best for you financially.
Switch Up Your Vacations
Another thing to think about is whether or not you want to continue vacationing in the same place every year. Even though you might love the place, having a timeshare can restrict you to only vacationing in this area. If you don’t have a timeshare, however, you can choose different vacation destinations each time that you choose to travel.
As you can see, if you currently own a timeshare, you might find that it’s a good idea to sell it. Luckily, there are companies out there that will buy your timeshare from you so that you don’t have to worry about any of these issues.