I this property a good investment or at least not STUPID??

There is a lake resort about an hour from my house, where you can buy rv lots and cabins. The price for the 1 bedroom cabin I want is just under 50k. there is also a $75 monthly "resort fee" added onto the payments (and forever). It is deeded and all that, BUT you can only use it 180 days a year. Which is fine for me, as I just want to use it for weekends and storage. But i don't want to be screwed on it as if it was a timeshare. I can afford it no problem, and would not plan to sell it anytime soon, and if/when I did my intent would be to get a fair price, rather than make money. Is this a smart buy? Im just leery because it seems to good to be true somehow. Thanks to all who answer.

Its your the entire year IE nobody else ever uses it you can leave stuff in it etc, but you can only reside in it 180 days (this is pretty common from my research of RV/camp clubs)

Quite frankly, given the tough situation with housing, I would favor any cabin style home which would be cozy and affordable.

It's possible that a piece of land with a small cabin on it can appreciate in value.

The biggest mistake young and newer type buyers made was to expect the housing bubble to continue onward and upward.

Those who got saddled with high mortgages are now in a precarious situation, not knowing if there will be a bailout or if they will have to leave the home if foreclosure is looming.

When you buy a practical piece of property, you can sleep good knowing you won't need to give it up.

Yes, I favor a small parcel of property to begin with.

Just be careful that it's not situated near a flood area, or may have encumbrances on it. For that, you need a competent real estate attorney.

It's a timeshare, how about calling diferent places and shopping around?

why pay year round for something you can only use for 6 months?? is the "association"doubling up on your property??i mean leasing it for 6 months,keeping the cash and still taking your payments year round??

It sounds like a timeshare to me. The restriction on using it only half the year is odd. What happens to it the rest of the year I would like to know. I would be slow to buy this.

I wish I knew more. But my opinion wouldn't be worth the powder to - you know.

What intrigues me about it, though, is your mention of buying real estate for the purpose of storage. What a splendid idea. Really.

Thanks and HNY.

See if there are any resales, and if so what they are selling for. _Talk to some of the current owners._ To me this sounds like a bad deal but I'm 'thrifty' (cheap!).

You didn't say why it is only available for 6 months. I'm guessing weather.

Do you have $50,000 to spend?
Would you actually use it each year.

If you are looking for a place to store stuff, there are cheaper places.

The problem with weekend places is that you actually don't use them after a few times.

My family and I own a beach place. But we have rented it out because we actually don't use it that much. Not because we don't want to, but because we like to travel and have the flexiblity to go where we want.

i think it is a good investment because as you said its a good place for storage and a great place by the lake, it dosen't cost much and if you ever want to get away it is the perffect place to go. When you are ready to sell it it would have trippled in cost. So i think you should go for it.

The fee is actually pretty high. Why only 180 days? And how much land? If you are just getting the cabin it is not a great deal.

Also, you need to buy this to use. It would make a very lousy investment. The fee and restrictions will make it hard to sell, plus not being there for long periods of time tend to mean high upkeep costs. When things go wrong they go wrong with no one there to do take action before damage is extensive.