Timeshare in Pattaya

[rocketboybkk]

So a well known up market 15yo development offers some timeshare.

3 weeks a year - 25 yrs.

50,000bt - from owner who's had it for 6 yrs.

Maintenance fee last year was 50,000bt

I have no idea about timeshare but am interested & for 50,000 upfront it's not a lot.

Any thoughts/Advice?

Thx

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Edited August 31, 2015 by rocketboybkk

[balo]

Timeshare scams in Thailand

[rocketboybkk]

Thx. Yes, scammers everywhere.

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[bartender100]

"I have no idea about timeshare but am interested & for 50,000 upfront it's not a lot"

Nice if they can sell it 100 times+

[rocketboybkk]

Yeah, I understand only what I've read.

'Apparently' these are legit.

BUT how do u know?

It's view tally villas

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[bino]

Are you buying it "new" from the developers? It sounds like you are buying it "resale" from a previous owner who is wanting to get out and let it go for cheap so that he can get out.

Have you asked him, or more importantly asked yourself; why is he getting out of a 25 year deal after only 6 years?

[rocketboybkk]

Yes, resale, he's fed up with Thai.

But there are many reasons anyone can make up

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[hhgz]

Timeshares are a waste of money, regardless of the country.

[questionsreplies]

So crazy that anyone even consider it...

[peterjackson]

50,000 thb per 3 week block for maintenance. You could get a decent hotel room in Pattaya for the for 3 weeks and not be tied into a 19 year contract, with Zero upfront. Plus the maintenance fee will only increase over time.

Which 3 weeks of the year are they? High season?

In any event, I wouldn't touch it with a barge pole.

[Langsuan Man]

Whether or not it is legit or not, why would anyone spend the money to have to take a vacation to the same place every year at the same time is beyond me

[WorkingTourist]

You get 3 out of 56 weeks. Does that mean there are 18 total owners?

That does seem to match the rather low price. I.e. 18 × ฿50,000 = ฿900,000. Hardly enough to even get you a small budget condo. Though presumably the original people paid more, and it appears to be a 25 year lease rather than a freehold, based on the time limited ownership plus setup created for foreigners.

Timeshares are not a scam per se, but if you have more than 4 owners and they all want to go December-February then you realize how this is actually worse than just renting a new place each year.

If the maintenance cost is split between 18 people you end up paying ฿50,000 / 18 × 25 years ≈ ฿69,444 plus your initial payment, so about ฿120,000. For that, I would think you can rent something nice for 3 weeks five years in row.

With a timeshare shared with 17 other people, I doubt you’ll get good dates five of the 25 years where you “own” it.

[rocketboybkk]

I'm not buying

For all the reasons above plus others!

Thx for all replies

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[Robert24]

recommend you rent something for the 3 weeks you are in Pattaya instead of a timeshare. You can get a very nice place for 50k for 3 weeks.

[rocketboybkk]

I'm looking to own again

May buy land but the figures don't balance

Ie land price + build cost = more the a property is worth!!!

Plenty of resale places with a pool. Which is what I'm after & im in no rush do won't be jumping in because it's advertised as reduced!!!!!

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[WorkingTourist]

Ie land price + build cost = more the a property is worth!!!

Sadly I can’t buy land in Thailand, otherwise I’d definitely build myself.

Getting things exactly like you want them = priceless!

[rocketboybkk]

Yes agree but I don't want to buy land & build at a cost of say 5 million bt if I need to sell they'll be another 1000 house or more to compete with.

I do agree about getting what you want & I suppose there are people who'll pay for that luxury

I'm no rich man so need to be careful

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[rocketboybkk]

Ie land price + build cost = more the a property is worth!!!

Sadly I can’t buy land in Thailand, otherwise I’d definitely build myself.

Getting things exactly like you want them = priceless!

Neither can I buy the wife can

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[TerryLH]

"You get 3 out of 56 weeks."

Did they change the calendar?