Very few people purchase a timeshare without giving the process some thought. Even if you attend a sales presentation with a pushy seller who keeps pressing you to buy, you’ll think about the total cost of the property and how you will use it. There may come a time when you decide to sell though. Most owners sell theirs for some of the same reasons.
Resort and/or Area Changes
A common reason why many timeshare owners decide to sell is because the area or the resort itself goes through some major changes over the years. You might buy a resort in a popular destination that offers dozens of things to do every day. As other destinations become more popular, local companies might shut down and stop offering all those activities. Changes to the resort itself such as a new owner who increases the rules that residents must follow can make you decide to sell too.
Loss of Income
Thousands of timeshare owners looked for ways to sell during the last recession. When they had a hard time covering their mortgages and other bills, they didn’t have the extra money that owning a vacation property required. If you or your spouse recently lost your job, you may want to sell your timeshare and have more money to put towards your other expenses. You may need to sell because your employer cut back on your hours or because you switched to another job that pays less too.
Too Much Money
Timeshare transfers are very popular among those who find that owning one costs too much money. When you first sign your contract, you might not realize that you only get a short period of time there every year and that you need to pay more to cover maintenance on the timeshare. Some resorts will increase costs year after year and charge high fees if you want to skip a stay or change the dates of your stay. Companies that specialize in timeshare transfers can help you get out from under the strictest of contracts for any reason.