No, it's not a good deal by any measure. One of the posters is paying S$550/month, or $6600/year -- how many nights could you stay in a hotel with that?mre1333 wrote:if you do the math, this product actually is a great deal. the condo units in phuket are amazing. also, i heard they are developing and soon opening up places in koh samui, bangkok, vietnam, and the Gold Cost in Australia...
And you really want to stay in the same place for the rest of your life? I don't care how jaw-droppingly elegant that Phuket place is now, it's not going to look so elegant 50 years later on...mre1333 wrote:actually, i'm not sure you understand the product. i believe you purchase points and then you own them for life.
back to the product...unless i am mistaken, once you purchase your points (say...at the price of S$6600 in installments or whatever it is), you have purchased "1 week" at one of their condos for the rest of your life.
Your faith is touching, but I hope you read the small print before signing on the dotted line. You also have to pay maintenance fees for "your club" on top of the actual membership, right?a small portion of the "club dues" are pooled together and used to maintain and update the facilities, which is overseen by a seperate management entity, so yes-absolutely yes it will look the same in 50 years. i actually believe the members have a "vote" in how that money is spent, b/c after all it is "their club"
Allow me to correct myself: you're looking at forking out northwards of S$30,000 in cold hard cash within five years. (Because that's all the installment plan does.)answer: sorry, but that is just plain not true. as i believe someone stated earlier and what we did to join, was opt for their financing installment plan (can't remember exactly which one, but I know it is absolutely feasible and the rates will never increase with inflation)
Quite the opposite -- the only thing that's guaranteed is that you have to pay out those installments, like it or not. Can't get a week off, can't get space during the week you want to travel (gee, will anybody else be there for CNY?), or get laid off and can't afford the flights for the whole family? Tough poop, you're locked in.but then again, we work hard and isn't it our God-given duty to guarantee ourselves or family gets 1-week of "vacation" each year...especially tough times like this, to my family the intrinsic value of having that guaranteed 1-week of vacation each year is priceless!
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