Very often people buy timeshares on a whim and find it difficult to sell when they no longer want to use those holiday weeks. Timeshares should not be considered an investment. It should be bought only if you are keen on investing in resorts and enjoy great holidays.
There are plenty of cheap timeshares for sale UK precisely for the reason that they are difficult to sell. Renting out your timeshare sounds good on paper but it is actually not that easy. This is because the number of timeshares available for rent far outweighs the people who want them.
Timeshares are ideal for people who regularly go on holidays and have the money to invest in it. Many people get timeshare mortgage to make their payments, when they do not have the money to spare. These mortgages may not be sufficient to meet the other expenses that come up like maintenance fees, property taxes, and utilities. Inability to make all your payments could result in a foreclosure by the developer. The only way to come out of the mortgage is by paying off any remaining balance and clearing the debt. You could also sell the timeshare to people who use the week before or after you to get a decent price.
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