Even if you paid for your timeshare in full with cash, you will still be responsible for paying for its upkeep in the form of yearly maintenance fees, which increase by about 4 percent every year. You may be able to afford it for the first few years, but will you still be able to afford it 10 years down the road? 20 years down the road?
Maintenance fees are a huge revenue source for timeshare developers, so if you try giving it back to them when you find yourself struggling to keep up with the payments, tough luck because your timeshare is worthless to them without the steady stream of income coming their way from your maintenance fees.
Naturally, one would think that selling his timeshare would be the easiest way to stop paying maintenance fees, but it’s not as simple as it sounds given the volatile state of the resale market. More than half of all timeshare owners are trying to get rid of their timeshares because of death, divorce or overwhelming amounts of debt, making it a very competitive market.
Individual timeshare sellers have to compete with the resort developers themselves who own a good chunk of the discount travel websites offering timeshare rentals at rates far below what the owners themselves are paying. Who wants to buy a timeshare or deal with the hassle of owning one when you can just rent luxury at same cost of down-sized hotel?
The best way to stop paying maintenance fees on your timeshare is to get rid of it altogether. The quickest and easiest way to do this without giving yourself a headache is to pay someone to do it for you. When you finally find relief from the burden of rising maintenance fees, you’ll think it was worth every penny to wipe your hands clean and be done with it already.
