If you are getting close to retirement and need to start saving money now a timeshare can be a major prevention. Because timeshares are unlike a 401k or a real estate asset they will not provide any sort of return. Just getting rid of your timeshare could even cost you some money, but it will be less money the sooner you do it, no sense paying fees on an unwanted timeshare.
With a timeshare the only sort of reward you will get is the enjoyment that you get out of it. But if you don’t even use it then you really can’t get anything out of it and you will just be slowly losing money to it. Even if you do really enjoy using the timeshare, the special assessments and maintenance fees over the year would be enough to go on luxurious hotel packages. So does it really make sense to purchase something for $10,000 to $20,000 and then still pay yearly fees on it for the rest of your life? Why not just vacation when an where you want each year for the same price of your maintenance fees?
With the economy the way it is, it just adds up that a timeshare is going to cost you money you can’t afford to pay. And if you’re only hanging onto it because you want to use the vacations it also just makes sense to go with alternative hotel or resort packages. These types of deals offer the same if not better accommodations than your timeshare and the costs for such deals are dropping all the time.
Hopefully you’ve come to the conclusion that you need to stop paying and get out of your timeshare contract now. You might think first about trying to sell or donate your timeshare property. This can be very difficult and even more stressful than the cost of keeping your timeshare and then still leave you with the timeshare in your name.
Donating can be even more difficult than selling, but at least it won’t cost you extra service or advertising charges and end with you still owning a timeshare. However many charities will not even accept a free donation of a timeshare because they are aware of the fees and responsibilities that come along with it.
What you should learn from all this information is that it is time to get out of your timeshare now. Don’t wait another minute to get out of your timeshare before you have to pay another fee again. It is time to accept that your timeshare can only bring you more suffering and you need to get out of the contract no matter what the cost.