A wrong move could cost you significant money if you remain undecided on a potential investment, no matter how luxurious or promising the property might be for your taste. The American Resort Development Association (ARDA) said it costs $22,180 on average per interval for a timeshare sale. It’s important that you do your research before plunging into this growing market.
Working with a timeshare exit attorney is also advisable in this situation.
Some timeshare owners have struggled to divest their timeshare investment, so be wary of those who are selling theirs at a low price. You might think that paying a cheap upfront fee may be a good deal, but you may end up paying for hefty maintenance costs. This serves as one reason people offload their timeshare due to their inability to keep up with recurring payments.
Sales agents can be very aggressive as well. Don’t think twice about stepping out of a presentation, which you shouldn’t attend while on vacation if you feel uncomfortable with the payment terms.
The ARDA’s report for this year showed that timeshare assets have become more popular with consistent growth in the last eight years. This makes most people wonder if having an investment could save them money in the long term.
A common misconception about this type of investment involves the yield, which pales in comparison to a house or commercial property. You could maximize your timeshare asset when you regularly spend a vacation in a certain place, so look for properties that you intend to visit every year.
Timeshares are a good option to save on board and lodging expenses, especially if you frequent a certain place. However, the best time to look for a property should never be during your vacation when you’re likely to be more impulsive.