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

submitted 3 months ago* (last edited 3 months 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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[–] ricecake@sh.itjust.works 24 points 3 months ago

That's called a timeshare, and they're not a good idea. Very sketchy, almost impossible to get rid of if you don't want it.

You have to sign up because although you bought the apartment, you're not the only one who bought the apartment.

You buy it and then get to sign up to use it, and then you pay a fee to use it every year even if you don't end up using it.

You don't get to live there.