How much is my timeshare worth?
One of the biggest timeshare complaints is that the units are usually overpriced. People basically pay thousands of dollars for a contract and the right to use one or more units of the resort for a specific number of weeks, during a certain period –which goes from 5 to 50 years–. The purchase of a timeshare is like making reservations for your next vacations for the next years, which doesn’t seem to be that wise, does it?
By the time timeshare owners realize that they don’t really need their vacation ownership, as they can basically get same quality vacations for a better price, it might be too late to cancel their contract with the resort’s customer service. That’s when they start thinking on different possibilities to get rid of their properties, and most of them think on selling the unit, but once they get to the resale market, they understand that the value of their timeshare has collapsed. So, how much is my timeshare worth? Read the next article to find out the real value of your timeshare unit.
Price and Value
Let’s start by not confusing price and value. The price is the monetary value that is assigned to a certain good or service, and this is determined by what the prospect buyer is willing to pay, and by the supply and demand. Therefore, the exactly same timeshare ownership can be sold to two different owners for very different prices.
The value, on the other hand, is the benefit that the customer gets by acquiring a certain good or service, as well as the capacity of satisfaction that the product can provide. Consequently, if you ask us, how much is my timeshare worth? Our answer wouldn’t match with the price you originally paid for your timeshare. For that reason, you could easily find an eBay timeshare for sale for just $1 or even less.
Before buying a timeshare, we highly recommend you to think how you will use the unit during the next years, if you will be able to pay your timeshare maintenance fees, and to do an internet research of the company.
The resale market
Do not expect to sell your timeshare at the same price that you first bought it; timeshare prices are way higher than their real value. That’s right, let’s don’t forget that timeshares are overpriced, and they actually lose over 50% of their purchase price allocation once the contract is signed. However, start with a competitive price, but be always open to negotiate, remember that people like to bargain. Nevertheless, chose a realistic price, and keep in mind that the lower prices get the most action.
Also, do not feel afraid to take a loss, you will hardly make a profit out of your timeshare. In fact, determining the resale price of your timeshare unit is the easy part, the hardest is the process of selling it. Unfortunately, there is actually not a significant resale market for timeshares, and the stark truth is that most timeshares are worthless.
And our biggest advice: Never pay a large upfront fee to sell your timeshare. There are many timeshare resale scam companies that claim to sell your vacation ownership for unrealistic prices, but once you paid an upfront fee, they disappear.How much is my timeshare worth?
By this time, you might feel a little regretful of your purchase, which is understandable, but not terrible. To answer to your question–
How much is my timeshare worth? – The price will be determined by the resort, the location, and the number of weeks you own, but the real value is almost zero, as most timeshares are worthless.
The trend to appreciate things for their price, and not for their real value, induces us to waste our hard-earned money, inasmuch as we frequently lose the capacity to distinguish between what it’s valuable and what is not.
However, if you really want to get rid of your timeshare, it will be almost impossible to do so if you decide to sell it. Timeshare cancellation is the best option to get rid of an unwanted timeshare. At Mexican Timeshare Solutions, we assist timeshare purchasers who feel they were scammed or taken advantage of by the salesmen.
MTS is a legitimate company with an A rating on the BBB, Our associates have several years experience in the timeshare industry and are successfully able to resolve timeshare scam cases in an ethical and professional manner. Contact MTS today for a free consultation and get rid of the financial burdens that your timeshare gives you.
About Mexican Timeshare Solutions:
Our goal is to assist timeshare purchasers who feel they were scammed or taken advantage of by fraudulent salespeople. No upfront fees for our services cancelling timeshare frauds. We offer a free consultation and we do not rest until get your cancellation.
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ABOUT THE AUTHOR
Barbara FletcherMexican Timeshare SolutionsAssociate