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Can anybody explain why someone sell me an apartment in resort ? (lemmy.world)

submitted 1 month ago* (last edited 1 month ago) by hahattpro@lemmy.world to c/asklemmy@lemmy.ml

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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?

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[–] Pyr_Pressure@lemmy.ca 10 points 1 month ago (2 children)

You need to book it because you are not the only person who "owns" it. Many people do, and usually you can only book like 1-2 weeks a year or something.

Despite paying the full price of an apartment you're only really buying 1/52 of an apartment

Plus they have you pay a bunch of maintenance fees which can be a few hundred to thousands a year.

[–] hahattpro@lemmy.world 1 points 1 month ago (1 children)

But the price is about an apartment, but only a bit cheaper (1-2% cheaper). Why i only own only one or two week ?

[–] Pyr_Pressure@lemmy.ca 2 points 1 month ago

Because that's where they trick you. They sell you something as if it's a good deal when really it's not, and they make a ton of money by selling the same thing to 50 other people.