How to Get More Cash for Your Timeshare
Some people buy a timeshare as an investment, only to discover they can't recoup the original monies. Others manage to buy low and sell high in a boom period, and make some money on their timeshare purchases. Whichever group you might find yourself in, there are things you can do to get more cash for your timeshare. Consider these cash generating tips:
First, be realistic about the price. There's a good chance that you might have bought your timeshare after having been pressured into buying. There's also a slim chance that you bought when there was more of a demand than there is today; it was the “in" thing to do. Because the market may have changed, you might not get as much cash for your timeshare. Some research indicates that the majority of people get only 50 percent of the money they spent to buy the timeshare property.
However, you could increase your percentage by keeping the timeshare well maintained and clean. The truth is, most people when they sell their timeshares sell something that is left in shambles than when they were first purchased it. The temptation is there, when you're finished using the place for a vacation, to push off cleaning or maintenance chores on the next person. Don't do it! Your laziness could end up substantially hurting chances of selling at a decent price.
Also, most of the statistics that have been compiled about timeshare sales were compiled before the Internet was a major force in the industry. Today, timeshare deals are promoted as much online as through real estate agencies. What this means is that you're more likely to get a seller at your price by advertising on the Internet than if you just go through the conventional routes of real estate listings and brokers.
To further increase the amount of cash for your timeshare, don't just pick an isolated spot online and advertise there. Rather, look around and find as many places as you possibly can to list it: auction sites, classified ads, travel forums, etc.
Finally, remember that you won't get as much for a deeded timeshare as you will for a floating ownership agreement. On the other hand, the deeded timeshare will often sell at a higher rate than a right-of-use timeshare.
So plan accordingly.
You may or may not make a profit on your timeshare. If you are thinking about selling your timeshare, then:
1. Put your marketing plan together
2. Market your property aggressively using the tips above.
3. Work smart and use the resources from the internet to learn the timeshare market where your unit is located.
Follow these tips and hopefully you can realize more cash for your timeshare - perhaps dramatically more. Just have patience and perseverance.
Timeshare resorts around the world are giving vacationers the ability to visit exotic locations at affordable prices. Thomas Sondheim enjoys traveling and reporting his findings on his blog at TimesharePilgrim.com Subscribe to the TimeSharePilgrim.com newsletter and discover things like:
* How to get a loan to buy a timeshare condominium
* How to secure a loan to purchase a timeshare
* Can I get a good deal with Timeshare Auctions
* What do I need to know in order to buy a timeshare
Be sure to visit his site for several Free Timeshare eBook downloads and sign up for his Free Timeshare Newsletter at http://www.TimeSharePilgrim.info