With time, everything changes. That can be good, or bad, but it’s always inevitable. Most commonly, when one thing changes, the worth and value of other things change, too. Due to the fact that there’s no single circumstance that’s applicable to everyone, there is no single answer that’s can give a definate answer to the question “How long should I keep my Marriott timeshare?” There are, however, several considerations which can suggest you should keep hold of your timeshare, or if you should sell.
The Context Of Timeshare.
A timeshare is in one way infinitely comparable to all other kinds of property, while at the same time being entirely different in another:
Timeshares are the same as any other property. Timeshares are real estate, in that you own a physical asset; your apartment at your home resort, or your certificate entitling you to occupy a vacation residence of your choice (according to time and location restraints determined at time of purchase, of course). Timeshare ownership comes with several positive points – rights of occupancy, expectations of service, ability to sell whenever you like – along with only one substantial negative; upkeep costs must be met.
Timeshares are different to any other property. Having your name on the title of a timeshare shouldn’t be seen as offering the traditional benefits of property ownership. Your timeshare asset is unlikely to increase in value, as most homes eventually do, so investing in a timeshare for financial gain is not recommended. Rather, a timeshare is an investment in the experience it provides you with, during the duration of your ownership. For the same (often less) outlay as you’d expect to spend on a stay in a hotel room, the timeshare owner enjoys apartment-sized accommodations, typically with a fully-equipped kitchen and perks, such as en suite hot tubs, memberships to strictly regulated facilities and clubs, or access to private beaches.
When you come to decide how long to keep your timeshare, it’s important to weigh up both the pros and cons, and to be absolutely honest with yourself about both.
Striking A Happy Medium
If your mortgage and maintenance fee payments are financially draining you, due to a change in life circumstances that has reduced your income, then it’s probably time to consider renting or selling your timeshare.
Intellectually, you may understand that the time to sell your timeshare is now, but emotionally you’re inclined to keep it, your feelings will be fuelled by memories with your family, or the view from your apartment, or simply the knowledge that every year, for the rest of your life, a supremely luxurious experience awaits you for an entire week of worry-free and fabulously relaxing time.
Coming to terms with such a big decision can be difficult. If you would like some advice on selling your timeshare, or how we can help you come to the best decision, please contact us here and we would be happy to help!