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?
Google Time Share. It’s a huge con.
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.
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.
So, it is too difficult to “discard” a timeshare so people give it away for free ?
It’s a timeshare and it is basically a scam for most people. Basically you’re buying time to stay at the place that you can technically use at any time year round as long as you book it in advance. The problem is that all of the days that most people go on vacations (spring break, summer, holidays, etc) will already be booked by the 500 other people who also bought the same thing. So really the only times you will actually be able to use the place are when no one else wants to be there.
If you have the ability and desire to drop everything and vacation there on a random week whenever it happens to be available then it can still be a good deal for you, but most people have obligations like work, school, or family that limits when they can just drop everything and leave to spend time at their timeshare.
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.
Sounds like a time share. You would own a percentage of the apartment with a bunch of other people, You would have to book the time you wanted to use the apartment and you would be limited to the number of weeks you could book as the other people would be there when your not. Also lots and lots of rules!
Is owning timeshare similar to owning stock in vacation/hotel company? Can I get profit out of it ?
usually not, you have to be the person who stays there, you can’t sublet. And you still have to pay your percentage weather you use your time or not.
You will 100% not profit from a timeshare.
This unfortunately seems to be a little bit too likely to be a scam, read here for more information about what is and isn’t actually legal in such deals:
https://europa.eu/youreurope/citizens/travel/holidays/timeshare/index_en.htm
Don’t get got! https://youtu.be/d5-ogjrotSI?si=2Ht_-8t4-jmkDqfr
