Donate that Timeshare and Reap the Rewards

Time can change anyone's situation. Although a timeshare may once have been worth owning, you could find that as children grow and finances adjust, you are no longer able to maintain ownership of it. Donating it can be the perfect alternative to attempting to sell it.

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Purchasing a timeshare may seem like a great idea as you take that first tour. Eventually, however, the reality of the deal becomes apparent. In addition to the initial purchase price, you will also need to handle a variety of annual fees and maintenance costs. After some time has passed, a timeshare could begin to seem more like a bottomless money pit instead of the vacation paradise you had imagined. You may think that tough economic times and limited numbers of available buyers mean you are stuck with the property. However, you do not have to hold on to that timeshare if you no longer want it; a variety of charities will accept timeshares as a donation. Even better, you can come out ahead on the deal and help others at the same time — a win/win situation for everyone.

If you are no longer able to enjoy your timeshare, it makes sense to get rid of the purchase in a sensible manner. Perhaps you just have buyer’s remorse and want to turn back the hands of time, or maybe your family is no longer able to travel to a getaway site you used to enjoy. Whatever the reason, donating your timeshare could help solve the problem almost immediately.

Many people have discovered that an “affordable” timeshare can quickly drain their available financial resources. If your timeshare is not being utilized on a regular basis, this can mean that you are actually losing money each month. Remember as well that some timeshare properties decrease in value over time. It is far better to donate a timeshare and to do some good with it than to let it sit empty, an unused drain on your finances.

Reasons to Consider Donating your Timeshares

There are some very convincing reasons why you might want to entertain the idea of donating your timeshare to a good cause.

  • You can support a worthwhile charity through your timeshare donation. Timeshares can help a charitable organization raise funds for important projects. You will have a good feeling about donating your timeshare to a responsible charity. Instead of simply donating a few dollars, you will be making a generous gesture that could ultimately change the lives of many families or individuals.
  • You can painlessly qualify for some enticing tax breaks by donating a timeshare, allowing you to keep more of your earned income. In fact, in some cases, the tax breaks will actually exceed the cost of the timeshare payments; even though a donation does not result in the immediate chunk of cash that would result from a sale, the tax breaks can eventually result in extra money in your pocket.
  • You can finally say goodbye to fees, taxes and monthly payments for that unused or underused timeshare.
  • Donating a timeshare means that you do not have to try to sell your investment if you no longer want it. Selling a timeshare often incurs extensive additional fees; in fact, you might only receive 40 to 50 percent of the total selling price.

If you have a timeshare that you no longer want, many different charities could put your purchase to good use. Make sure that you investigate all of your options before deciding what to do with your timeshare property. You might be surprised by the possibilities.

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Boris Razmiki

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