Timeshares used to be something “old people” had, but that’s all changed. The younger generation has realized that these can be worthwhile investments, which is why Gen Z and Millennials account for 57% of all American timeshare owners.
We know that it’s tough to save up, but if you’re able to, putting some money in a timeshare can be worth it. But first, you need to understand what you have on your hands, or you can end up making a terrible investment.
Read on to see how you can understand and calculate the value of a timeshare.
Determine the Type
There are several forms of timeshares, such as fixed-week, floating-week, or points-based.
With fixed-week timeshares, the value will be affected by the popularity of the week. For example, if it’s during the holidays or peak seasons, then it’ll be worth more.
For floating-week and points-based timeshares, the demand for certain seasons, the popularity of the resort, and the booking flexibility offered will affect the timeshare value.
Assess the Location and Resort Quality
A timeshare’s worth is heavily influenced by its location and the quality of the resort.
One that has excellent amenities, maintenance, and overall desirability will be promising. Close proximity to popular attractions will add to the timeshare worth too.
Consider the Time of Year
If you want to sell your timeshare in the near future, then consider the time of year before you make a move. There’s a reason why they’re often sold for specific weeks or seasons.
You should find out the demand and pricing for the specific time period associated with your timeshare. This can help you time your sale better, as you can list it during peak seasons or popular holiday periods.
Don’t Forget About the Annual Costs
Typically, you’ll have to pay ongoing maintenance fees, property taxes, and other expenses to own a timeshare. It’s important to understand the ones associated with yours, as they may affect its overall value.
In general, if you pay high fees, these will probably reduce your timeshare’s worth.
Research Recent Sales and Listings
To get a ballpark number of what a timeshare is worth, look at recent sales and listings of similar ones in the same location or resort. Channels to check include online platforms, real estate websites, and timeshare resale companies.
You can look at Royal Resorts timeshares to figure out what the timeshare resale value in Cancun would be.
Consult a Professional Appraiser
As a timeshare owner, the best way to calculate timeshare worth is to get a professional’s opinion. They can provide an unbiased evaluation that’s based on market conditions, recent sales, and other relevant factors.
As a result, you can make smarter decisions regarding keeping or reselling your owned timeshare.
Figure Out the Value of a Timeshare
Knowing the value of a timeshare is key when you want to see if you’ve put your dollars to good use.
Generally, you’ll have to factor in the time of the year, location, and resort quality. You can always conduct research on similar listings to get a better understanding of your timeshare value. However, the best idea is to work with a professional appraiser, as you’ll have a pinpointed timeshare worth.
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