The pandemic has been a game-changer for the travel industry. And also for the timeshare travel. The initial impact was the worst because everything came to a halt. Gradually, things changed for the better, and the industry shifted towards a new normal. Road trips and wellness vacations are trending. Holidayers prefer local holidays instead of international trips. Apart from these hot travel trends, others are moving towards redundancy. Timeshare travel and timeshare ownership is a fading trend, with most owners and investors looking to close their contracts sooner than later. Let us explain the reasons for the downturn.
Travel is not the same.
The new normal for travel is here to stay. You cannot expect to fly on a whim because the virus status and restrictions at your destination are always a concern. What if the resort is located in a high-risk area? You will probably have to skip your vacation plans until things get better. Owning a timeshare means you will have to pick the exact location every year. You may even have to choose a specific time of the year. It is the last thing you will want to do when travel opportunities are limited. It makes sense to get rid of the ownership and explore more flexible options in destinations and timelines.
Timeshares are a financial burden.
Anything that presses your wallet isn’t trending right now, and timeshares are a massive burden. You have to pay a fat check for maintenance costs every year, whether you visit the property or not. Even worse, these costs may rise without warning. Getting out of the contract is your best bet, though it may sound daunting because of the legal implications. But providers like Property Relief Consultants can come to your rescue with their professional timeshare exit services. They can speed up the process and eliminate the hassles from it. But you must check a provider’s reviews online before availing of their services.
No resale value
Most timeshare owners do not understand how the resale market works. It is easy to fall for the words of slick salespersons as they convince you to get into these contracts. Sooner or later, you will realize that they do not have a resale value. It is challenging to sell something no one wants to buy. You could spend massive money on resale platforms, only to wait endlessly for a lead to come. The timeshare trend is outdated, and not many buyers will be around during the pandemic crisis. You can well imagine the kind of damage this investment can inflict on your finances in the long run. So you must avoid buying a timeshare in the first place, no matter how incredible it sounds. Getting rid of the property should be your priority if you already own one.
Without any doubt, travel buffs are giving up on the timeshare travel trend, and they have valid reasons for doing so. When traveling in pandemic times, you must prioritize flexible options that fit into your wallet. Timeshare is neither loose nor affordable, so steer clear of it completely.