It seems sketchy as hell.

They sell an apartment, that apartment in resort. The price is about typical normal apartment.

They said that I own that apartment, and can visit the resort few days a year, enjoying staying at that apartment. Just book your day and they handled the rest. I still not fully wrapped my head about this concept yet, but why not stay there forever but “book” ?

My aunt said this seems good deal. But I feel something fishy.

Is it a good investment compared to normal apartment in residence building ?

Can someone tell me more details on this type of real estate?

    • Max-P@lemmy.max-p.me
      22·
      1 month ago

      The worst is it’s not even like you buy a share of a single unit to share and keep well maintained, it effectively behaves like a hotel you have a stake in and and get to go 1-2 weeks a year for free and they’re usually quite poorly maintained too.

      For some reason boomers thought it was a good idea, because gotta buy and own properties. I guess the idea was you could buy a vacation home but for only the few weeks a year you really want it.

      It’s such a con, if you inherit it from your parents it’s really hard to get rid of it too, because nobody wants them now that it’s well known to be bullshit. You might as well just rent an Airbnb, it’s probably cheaper.

    • hahattpro@lemmy.worldOP
      14·
      1 month ago

      Wow, thanks.

      So, timeshare is kind of pay all of your vacation (rent) cost for the room in 50-100year ?

      Wow, those saleman turn them into real estate and say it is real estate that you can resell for profit.

      • theit8514@lemmy.world
        15·
        1 month ago

        In the US they are usually governed as real estate legally. You can resell it, but most people aren’t interested in paying the maintenance fees. You’ll find all sorts of timeshares out there being resold for 1$ because they just don’t want to pay the maintenance fee anymore.

      • Scrubbles@poptalk.scrubbles.techEnglish
        13·
        1 month ago

        Nope, there’s whole industries out there that are built around helping people escape their timeshares. To make it resellable … there have to be other people who want to buy it…