When your parents purchased their vacation property decades ago, it might have felt like a brilliant idea. Sun-kissed beaches, charming resorts, and “guaranteed” family memories often led buyers to believe they were making a sound long-term investment. Fast-forward to today, and you, the estate executor or adult child, are left grappling with what’s often an inconvenient and expensive inheritance. The biggest shock? Those hidden costs lurking beneath the surface—costs that can balloon far beyond any initial investment your parents made.

The most glaring expense is the annual maintenance fee. On paper, maintenance fees sound logical—someone has to pay for upkeep, landscaping, and amenities. Yet, these fees rarely remain stable. Over the years, inflation, resort mismanagement, or strategic pricing by the property’s managers can push these fees to staggering heights. Before you know it, you’re paying thousands per year for property upkeep that may not even align with your travel interests or usage patterns. Worse, these fees rarely disappear and can remain in place for as long as you hold the property.

Then there are special assessments, the often-overlooked financial bombs that timeshare companies drop when they decide it’s time for major renovations, upgrades, or unexpected repairs. New roof needed? That’s a few hundred or thousand more out of your pocket. Upgrades to the pool or spa? You’re suddenly footing part of the bill, even if you’ve never stepped foot on the property. These assessments can appear with little warning, pressuring owners to pay quickly or face penalties. For estate executors, receiving such notices can feel like a rude awakening, especially if you’re trying to settle financial affairs for grieving family members.

Complicating matters further is the questionable transparency of these management companies. Some owners discover, too late, that the property’s initial pitch never fully disclosed the frequency or magnitude of these rising costs. Calling this practice controversial might be an understatement—it can border on exploitative. These ongoing costs effectively guarantee the resort a reliable revenue stream, regardless of whether owners utilize their stay or not. If you’re an executor trying to keep the estate’s finances balanced, you may find yourself wondering how a “family vacation legacy” turned into a perpetual ATM for corporate interests.

The long-term financial implications are especially daunting. Consider opportunity costs: Every dollar you sink into maintaining that condo is a dollar not invested elsewhere. Could those funds support a grandchild’s education, pay down debt, or bolster retirement savings? For many heirs, the property becomes a roadblock to larger family goals. Instead of enhancing the family’s quality of life, it siphons away resources and creates tension among siblings who may have differing opinions on the property’s value.

Then there are logistical headaches. Managing payments, monitoring due dates, and handling disputes with the resort’s administrators all consume precious time—time that executors rarely have in abundance. This administrative burden can weigh heavily, especially amid the emotional strain of settling a loved one’s estate.

The bottom line? The hidden costs of maintaining a long-ago purchased vacation condo can outstrip any supposed benefits. Recognizing this reality is the first step to making a smart decision about the property’s future. Some families opt to negotiate an exit strategy or work with experts who specialize in helping owners shed these costly obligations. Others might attempt to sell, though the resale market for older properties can be unforgiving and slow.

Before you commit to holding onto the property “just in case,” crunch the numbers and consider your family’s long-term goals. A candid discussion with beneficiaries can save future disputes and disappointments. Make sure everyone understands that the property’s legacy isn’t purely nostalgic—it has serious financial ramifications. By acknowledging these hidden costs, you empower yourself to take meaningful steps toward financial freedom, ensuring that this unexpected inheritance doesn’t become an enduring financial drain.