Planning on going on vacation? Hold onto your credit card. That hotel you have been eyeing may actually be 50% more expensive than in the previous year.
Prices are out of control right now, so many people have purchased a travel timeshare. It’s enticing, knowing you get the same resort year after year for the rest of your life, all for a fixed price. At least, unless you get locked into a bad timeshare.
Want to know how to sell your timeshare? You have come to the right place. Keep reading for a quick and easy guide on selling a timeshare.
How to Sell Your Timeshare: Vacation Exchange
Maybe the issue is not the travel, just the timeshare you have in particular. If you want to keep vacationing, consider a vacation exchange network. Think of this like a marketplace where people can trade timeshares options for vacation points and deals.
These networks often give you incentives to sell a timeshare to them. Don’t want to go to Santa Monica? Trade your timeshare for an all-expenses paid trip to Bali.
Give it to Somebody Else
Perhaps you have someone in your life who has better use for these types of timeshares than you. In that case, you can just give it to them as a gift. It is an expensive gift, so this will depend on how close you are to this person.
It’s pretty easy to transfer your timeshare. Just be sure that you want to do it, since there’s no going back.
Rent out Your Timeshare Location
For all intents and purposes, you are effectively a landlord over your timeshare location. During the weeks of the year when it belongs to you, you can do what you want with it. So why not rent it out?
Prices are skyrocketing, and you can make a lot of money renting it as an Airbnb. Granted, it’s only for a week or two. But you could potentially make hundreds or thousands of dollars each year doing this.
Borrow or Bank Your Points
The issue may be that you simply can’t go for a few years. Instead of selling your timeshare completely, consider banking the points for later. Someone else will take your week for this year; the next year you get double the points.
This is a great way to save up for future vacations. You can get a much longer vacation than usual with your timeshare. That way, you aren’t wasting your investment for the time that you don’t use it.
Sell a Timeshare Today
Now you know how to sell your timeshare. Fortunately, there are plenty of options on how to minimize the financial loss of a travel timeshare you invested so much in. You can give it as a gift, trade it for points, rent it, or even bank it for later.
Visit our blog for more ways that you can save money.