Selling My Timeshare Would Have Been A Big Mistake
I can't believe I almost made the huge error of selling my timeshare. You see, the kids were older and didn't want to keep going on vacation to the same resort anymore, and frankly, we were ready for someplace new also. But with the money tied up in the timeshare investment, I hate to admit it, but we didn't have the cash to waste by not using our timeshare when it was our time to go back.
That was why I gave serious thought to selling my timeshare. Boy, did I get a big shock when I found out the best price anyone was offering turned out to be mere pennies on the dollar compared to how much we originally paid.
One idea somebody told me was that if I gave the timeshare away as a donation to a charity, they could give us a receipt that was closer to the original price as a deduction on my income tax return. Again, I am so glad that I did not go down that road.
Why am I so happy not to have sold the timeshare I was so desperate to get rid of? That is because I realized I could make a profit by renting the timeshare out to others. If you put an ad in a free classified site like Craigslist, it doesn't even cost you a dime to run the ad. And unlike expensive newspaper classified ads, you can even put four color pictures of your timeshare into your ad for no charge.
Now, the money we make when we rent our timeshare out to others more than pays for us to have excellent accommodations when we go on vacation somewhere else. And do you want one more tip? You can sometimes get a great low price on vacation accommodation rentals if you check the ads on Craigslist from people who are renting out their timeshares. Hint: the prices are a lot more negotiable than they are at major chain hotels and resorts!
That was why I gave serious thought to selling my timeshare. Boy, did I get a big shock when I found out the best price anyone was offering turned out to be mere pennies on the dollar compared to how much we originally paid.