Making Money Selling Your Timeshare

Making Money Selling Your Timeshare

If you're thinking of buying a timeshare with the intent of selling it to make a profit - or just want to get rid of your timeshare - you should know that the chances for making a profit are slim. This is a cold, hard fact and better you know it now than later. We are taking a bit of a backwards approach by discussing this since most people, when they buy a time share, don't usually think about making money on it. Instead they''re thinking of how they've made an investment in future vacations.

The companies who first sold you the timeshare have very effective strategies and you can learn a thing or two from them. First, take note that they tend to make their sales pitch during the "vacation-heavy months." June, July, and August are the best target months if you're going to try to make money on a timeshare.

When selling your time share to make a profit, be prepared to be patient. You need to wait until the property value rises - and sometimes it won't. There is often a recurring theme in failure – false expectations. Don't count on making hundreds of dollars in a few short months. There are some things you can try to make selling your time share a little easier.

Rent Your Timeshare to Others
Remember, that every timeshare unit is used by many people throughout the year. You can rent your portion of the timeshare to others who want a "luxury" vacation. Your renter reaps the rewards - the services of a full service, upscale hotel for a good price, and you, in effect, get back your investment for that year.

Classifieds
Your time share owners club may offer this as a service. In this way, you'll be preaching to the converted. People who look at these classifieds are interested in the kind of unit you are renting. Or try approaching other owners (or posting a classified for this purpose). People who own timeshares before and after your dates may be looking to increase their time.

Advertise
Post classifieds on as many free Internet group sections that you can. Most online services such as Prodigy, AOL, Craigslist, etc., have free or low-cost advertising.

Remember, a timeshare is not a real estate investment - it's an investment in your vacation time. If you want to sell your time share, you need to be prepared to do some research, set a fair market price and be patient.