I said I was done- I lied

[YorkshireT]

Originally Posted by tigger48

Thanks YorkshireT. 25% is quite high, is this higher than usual? It’s our first time bidding for resale. We’ve probably offered a little on the high side but as it’s still way lower than a direct add on its worth it to us. The contract we’re after is quite heavily upfront loaded hence our bid. If this one doesn’t get through though as you say we’ll probably just try again, but would look for a more standard (not loaded) contract with possibly a few more points on it. We’d just have to borrow more to sort next year’s booking(s) in the meantime.
People warned us about addonitis before we bought our first contract it seems they were right 😆 Good luck!

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Yes 25% is about the highest I've seen. But at $60 a point less than direct for a none loaded, its worth the wait and hassle if its taken. There will always be another SSR contract that will meet your requirements, trust me I've done it three times, although only had two taken ROFR- both last time which was this time last year.

[Mr Tom Morrow]

SSR is being bought back more than normal as the refurb will make it more desirable to buyers.

[dippiedawnie]

And I thought we did well on our 200 points 😳. We could buy more points but the higher annual dues would be a killer. Think we will never suffer from addonitis but at the moment are struggling to stop ourselves booking too many Disney cruise trips so presume that's just a different itis lol! 😂

[YorkshireT]

Originally Posted by Mr Tom Morrow

SSR is being bought back more than normal as the refurb will make it more desirable to buyers.

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DVC is economy dependent and more so nowadays I think with the high price rises. However, this is a good point. The room standard is one of the main complaints about SSR. These new rooms not only improve that, but they'll be some of the best on property. That must make it more desirable.
Imagine if it got Skyliner in and direct transport to the parks...

[KarenG]

You aren’t setting a good example to the rest of us are you? !

[YorkshireT]

Originally Posted by KarenG

You aren’t setting a good example to the rest of us are you? !

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Ha ha, Sorry, ...

But you got me thinking about my logic. Sorry for long post but this is how I think, I'm sure others have similar thoughts, but it may help those considering DVC.

Thing about DVC points is that whilst it's now getting harder to justify with the prices now, if you go and you have the cash to buy, it still makes a lot of sense.

I still would not dream of borrowing to buy it, but that's just me.

So far if I sold, after costs (say 10%) I'd probably make money on my contracts. Not that much, but a bit, but I haven't owned for 10+, 20+ years like some. The earlier ones do better, when I picked them up in the 60s / 70s ressle. In 2010- 2015 DVC really was a 'no brainer' and it amazed me people we're giving Disney 8k for a holiday when that cash could have bought them a decent resale contract with no restrictions. Then again, I did it before I researched DVC!

I get about a 9% return if I want to rent, I'd struggle to do that with a domestic property and have a lot more hassles, but of course I'd have an asset in 40 years if I put that money into real property.
The unusual thing is that through the period circa 2015-18 DVC well outperformed the domestic housing market in growth. It seems to have stagnated a bit recently though, the prices now seem v similar in most cases to this time last year.

If a recession comes, I expect it to be hit. But hopefully if I ever come to sell I'll time it right and not lose to much or by then, make money on the initial capital.

Eventually if I stop going I'll have to make a decision to sell or rent. Renting is so ridiculously easy it's a good option, but hitting the sweet spot and selling before value starts to plummet on contract run in maybe the key. Maybe at around 10 years left so in 23 years...

Dues are expensive, but ultimately you are staying in high end hotels with often eye watering cash rates. I've noticed hotel accommodation in US is going through the roof. Mrs YT who was initially against me buying into DVC (didn't understand but I did significant research and could tell it was almost underpriced then) took little persuading the last few add ons as she sees the value. When we were looking at the Disneyland hotel prices next year for 1 beds and realising it would cost us $1000 a night less in dues costs v cash (Grand Californian rates on Disney website next summer for a 1 bed are a ludicrous $1300 a night plus tax, plus parking), she was the one who suggested another top up.

There is a massive sense of satisfaction when you leave Boardwalk, having stopped in a 2 bed that sleeps 9 and the bill is zero without even any tax or parking. Then you see the value.

Last summer we flew back with Thomas Cook and they have an American guy at check in, helping out passengers. I got talking to him and told him we had DVC. His view, we were in a tiny minority and he was an ex DVC guide. He said he couldn't understand why families we're coming back year after year staying at places like BC at large sums, when they could have bought a ton of DVC points. He'd long since stopped working for Disney but held a genuine view it was a great product.

I would also like to escape the UK winters when I hopefully finish work in 10 years when I'll be under 60 still. With 400 points I can do a month at say SSR, for $2500 a year at current dues rates, that's a lot cheaper and a lot less hassle than buying a condo or villa and covering the annual running cost.

I do however not have rose tinted spectacles and will be critical of some awful management decisions recently which are diminishing the product, ironically most for new direct buyers of Riviera who I think will be hit badly on reselling. Madness.

[YorkshireT]

Entered ROFR. This is moving breakneck speed.

[skstorm]

We are currently at ssr and still love it I would definitely like more points just not quite in the position for it at the moment and could really do with a better exchange rate 😟 but it’s very addictive. Need more time here 😟

[YorkshireT]

Originally Posted by skstorm

We are currently at ssr and still love it I would definitely like more points just not quite in the position for it at the moment and could really do with a better exchange rate 😟 but it’s very addictive. Need more time here 😟

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Glad to hear you are enjoying it. If I were there I’d be like Tom, scoping the refurb.
I see they’ve got part of Artists’ Palette boarded off and cans of drink instead of the refillable cups?

[skstorm]

yes that was correct the food part and fridges etc was as normal but the refill station wasn't operational which is why they had cans on offer. We did wander over to congress Park a few times but we were't able to see anything. Just a lack of time this time round we only had 2 weeks and it all felt far too rushed so never going for that amount of time again - always more.