There are many reasons why people purchase a timeshare. It really does sound like a great idea. For a fraction of the price that you would pay for a condo or home in an exotic location, you get the freedom and flexibility to use the property at set intervals every year. It is a way to build in some holiday time for you and your family, all without having to through the annual ritual of trying to figure out where you should go. This is all great until you learn that either you never use the timeshare, or that is much more expensive than you ever envisioned. Here are three ways to effectively eliminate your timeshare expense.
Sell the Timeshare
It is quite possible that you can find someone to sell the timeshare to. You will look at your contract and determine how to best go about doing this. You will end up handing the deed and all of the maintenance fees to the other party, effectively getting you out of the deal altogether.
Have An Outside Company Take It Over
If you cannot find anyone to sell the timeshare to, you can look at timeshare termination. This is a way of getting out of the deal all together by going through an outside company. There will be some fees associated with this, as you will essentially be buying yourself out of a contract. At the same time, you will be saving a great deal of money in the long run.
Lease It To Someone Else
If you don’t want to pay to get out of the contract, one of the other possibilities is to lease out the timeshare during the days allotted to you. This is usually legal per your contract. You will simply need to become a landlord who rents out space and collects the money.
These are three ways to help offset the expenses associated with a timeshare. There are options available to you. Look through your contract, examine your situation, and then decide what you feel is best for you.