Are you starting to regret your timeshare purchase?
If so, you’re not alone.
Many people buy timeshares for vacations, excited by the advantages of a guaranteed holiday at an affordable price. But, over time, increased costs and other drawbacks may mean that you’ve had enough of your timeshare.
If you’re ready to get out, you may be thinking of transferring a timeshare out of your name. Luckily, you’re not stuck with your timeshare forever!
Read on to learn more about the process, along with seven of the most common reasons why you may wish to get rid of your timeshare.
1. Consider Transferring a Timeshare if Availability is Always Booked
Are you struggling to get your preferred weeks for your timeshare? With vacation days limited for most workers to about 10-15 days per year, you and your family have a limited window of vacation time.
If your timeshare weeks are never available when you try to book, this can be very frustrating as it means you’re missing out. Holidays and summertime weeks tend to fill up fast, with high demand for popular times.
You often need to book up to a year in advance to get your preferred dates, which can be impossible if you don’t know your work schedule far in advance.
If you’re not able to use your timeshare when you want, it might be time to let it go, giving you more flexibility for your annual vacations.
2. Your Family Isn’t Interested in Visiting
Over time, the preferences of you and your family might change. For example, as your kids grow older and become teens and adults, they may be less interested in a theme park vacation each year.
It’s normal to change interests and preferences over time, and you may find that the beach resort you loved 15 years ago is no longer your idea of the perfect vacation.
If this is the case, why not transfer your timeshare? We can assist with creating a deed of transfer and can look after all of your timeshare transfer documents, making the process a breeze.
As timeshares tend to depreciate over time, they can be a hard sell— take the stress out of selling with our expert assistance.
3. Increasing Maintenance Fees
Unfortunately, the cost of timeshares can rise considerably over time. You first signed up at a certain price, but each year you seem to be hit by more maintenance and service fees, greatly increasing your annual cost.
If you find you’re spending a lot more money each year but not getting much more in return, it might be time to move on. Even if you don’t use your timeshare each year, you are still obligated to pay the fees, taxes, or special levies that each owner is responsible for.
Even worse, do you feel like you weren’t accurately informed about all of the fees and maintenance costs before you purchased the timeshare? If so, you may be eligible to get out of the timeshare with mortgage cancellation.
4. No Longer Suits Lifestyle
As you and your family grow older, a timeshare may no longer be convenient for you. Stairs and steps become harder to access and walking long distances around the resort can be challenging as you age.
Or, perhaps you’re increasingly busy with new work commitments or family activities, making it impossible to get away to your timeshare each year.
You might be ready to move on from your timeshare if it no longer suits your health or lifestyle.
5. Travel Expenses Are High
In addition to the annual timeshare fees, you also need to factor in travel costs to and from your timeshare.
As flight and gas prices continue to rise, annual travel to your timeshare destination can cost more and more each year. Or, if you’ve recently relocated to somewhere far away from the timeshare, this can greatly increase your travel costs.
Perhaps you’ve had enough of long drives or flights and would prefer to vacation somewhere closer to home. If so, it might be time to sell your timeshare.
6. You’ve Had Enough of the Area
With most timeshares, you visit the same resort each year. Although this can be a fun way to spend time at your favorite location, after 10 or 15 years of the same holiday, are you ready for a change?
Maybe you feel like you’ve seen and done everything you want to do in the area. Or, you’ve noticed that the area has changed, perhaps from overcrowding or increased tourism, and you no longer find it enjoyable.
If so, why not let go of your timeshare and find a new vacation destination that you prefer?
7. Your Financial Situation Has Changed
Timeshares are a big financial commitment. Unlike a regular vacation, which is only a one-off cost, timeshares are a recurring cost each year.
However, if your financial situation has recently changed, this can make it hard to afford a timeshare. If you’ve lost your job, recently switched to a lower-paying industry, or are managing other large payments, like a mortgage or college tuition, this can leave little money for your timeshare.
If you’re finding your timeshare has become a burden, financially, now is the time to sell or transfer it, freeing up much-needed cash.
This can help reduce stress and you can save a great deal of money each year.
Need Help With Your Timeshare Exit Strategy?
Are you ready to learn more about transferring a timeshare? Many people hold on to the timeshares, not knowing what to do with them, but our team is here to help.
Contact us today to schedule a free consultation. We can give you personalized advice about the best way to sell or transfer your timeshare, as quickly as possible.
Our knowledgeable team looks forward to hearing from you and helping you find the best possible solution for your timeshare.