The travel industry was among the worst-hit sectors in the pandemic year. Airlines went out of operations, and hotels shut down when the virus was rampant in 2020. Things got a little better as restrictions eased after the vaccine rollouts in 2021. But the entire situation came as an eye-opener for travel enthusiasts. If you are one, you will probably know that there are hard decisions to make. One of these is to give up your timeshare contract, no matter how great it felt when you first bought it. But it may be the best thing you can do for your finances and future. Let us give some good reasons for making it your top priority right now.
Maintenance costs can press your finances
The pandemic has toppled personal finances, with pay cuts and job losses being common woes. There is a significant downturn, and you can expect it to continue for the foreseeable future. Saving money is the only way to stay afloat in this crisis, and it is best done by trimming expenses. A timeshare exit is the smartest thing to do because you can save a fortune on annual maintenance expenses. Although the idea of owning a holiday resort in part is exciting, you realize the pain only when you have to shell out a fat check for maintenance expenses every year. Even worse, these costs increase unexpectedly every year. Now is the chance of freeing up your finances of this burden.
Travel will not be the same in the future
Does it make sense to pay for a property you will probably not use in the future? That’s likely to happen with most timeshare owners. The virus is still at large, and you cannot expect to embark on trips as usual. Even when you plan vacations, you may want to pick nearby destinations instead of an exotic resort. Giving up your timeshare is a good option at this point. You need not worry about delays and hassles, as exit companies like Relief Solutions International can prevent both. Just read their reviews, and you can go ahead if you believe they are credible enough. Skip timeshare ownership and book a vacation home for your next holiday.
No one wants to inherit a timeshare
Another valid reason to give up on timeshare ownership right now is to save your children from an unwanted inheritance. They inherit it by default because the contract mentions it. You may believe it to be a great thing initially, but you will understand the downsides eventually. Bequeathing a timeshare to the next generation will only saddle them with a hefty annual expense as maintenance fees. Moreover, they will have to go through legal hassles to get rid of this inheritance. It is the last thing you want your children to face, so move ahead with a timely exit.
The pandemic is an opportunity to eliminate a timeshare property from your investment portfolio. It is time to get into action, so take the right steps and move closer to financial freedom.