Considering resale... again...

[Shani]

I've looked at buying DVC for years but have never taken the leap.

We tend to holiday every 2 years. We spent 2 weeks at OKW in 2014 and 2016 (cash & free dining) , and in 2018 we rented points to stay 3 nights at AKL, then 10 nights at BC (cash & free dining).


After 2018's stay, and tentatively planning 2020 with family, we've discovered that OKW (or deluxe villas) is where our heart is. When we discovered they will (probably) not offer deluxe villas with free DDP offers again, we were truly gutted. Our 2nd choice would have to be Port Orleans but that option wasn't really exciting us.

So, I looked into owning, again.

I can make it make sense, financially, so I just wanted to sound out my thoughts and see if anyone can point out any flaws!

We'd be looking at buying 90-100 points. Probably at SSR because of the 2054 contract end. We wouldn't mind staying at SSR or OKW. From what I can see (and I know things can change in the future) booking, or switching to OKW from SSR at 7 months isn't *too* difficult. This would cost in the region of £9k which we would pay cash.

My intention would then be to use 2019/2020/2021 points for 8 nights in a 2 bed at OKW (or SSR) for 269 points in Sept/Oct 2020 as my mother-in-law is also coming on this trip (first and only trip she'll come with us).

Moving forward from that, by 2022 (our usual trip-every-2-years), our children will be 16, 18 and 21, so quite likely we'd be back to a studio - but not discounting the possibility of adding on further contracts in the future.

DDP is obviously a deal-breaker at cash prices. However, the sums add up over the 35 year contract length to buy DVC, as we can't see us wanting to holiday anywhere else in the foreseeable, even when the kids no longer holiday with mum and dad.

It'd make our 2020 trip "expensive" as we'll have just bought in and still have to pay for food (and in all honesty, we don't have expensive food taste - one of our favourite meals last holiday was Planet Hollywood and it was around $100 for the 5 of us!) However, each subsequent trip, we'd be able to stay at a resort we really want to stay at for just the annual dues (which I estimate to be around £500 a year at current prices).

The contract end date would take hubby up to 80 years old, so £8-9k layout right now would mean "cheap" holidays for, well, life, basically.

Anyone any thoughts on my musings so far? Any big problems I've not thought about?

As far as use years I should be looking at, does anyone have any recommendations for me? Initially, we'd be looking at Sept/Oct holidays, however, once it's just me and hubby and no kids and exams to think of, we'll highly likely holiday in May. We tend to book as early as possible and flights would be non-refundable, so cancelling is unlikely, but use year is obviously something I should be considering.

I'm still working my way through the posts on this forum to refresh my knowledge, and to find the recommended resellers to look at and possibly register with, but if anyone has any pearls of wisdom, dos and don'ts or any information that I should know, I'd be grateful of anything you can share!

And, if you're still reading after my long, probably non-sensical post, thank you

[Mr Tom Morrow]

I think you have your very sensible head on.

There is a good SSR contract on the Tutas Family website above (ResalesDVC)
150 Points at $105. Bit over what I would want to pay however it has 58 Banked for 2019 and thereafter 150 per annum.
Quite a good deal.

A similar one as well for $103 a Point.

[Shani]

Thanks MrTM.

I had seen those. 150 points is a little more than I wanted really and I'd have to wait another couple of months to make sure I had enough cash to cover the costs of it without eating into other savings. I know the <100 point contracts tend to go quickly though, so maybe waiting a couple of months would be wise for me.

[YorkshireT]

Shani

You will pay a premium for a 100 pointer, they always go for around $10 more than a 150+
Premium increases the smaller the contract gets under 100.
Of course when you come to sell, you may realise that premium back, but when looking at pure numbers you will be paying about 10% more for that 100 pointer.
There's a common theme amongst DVC owners, most say they didn't buy enough points initially.
If I were you I'd save up a bit longer and go for a 150. That will also give you a bit more flexibility. Remember also you could rent out any excess points at 2x dues cost if not using.

[Shani]

Thanks YT. You and MrTM speak a lot of sense

A lot of number crunching and research to do before I jump in. I need to find the thread on the other site that had people posting about their sales, if they went through or were taken ROFR etc so I can see what Disney's up to right now!

Very basically, though - for our 2020 holiday, cash (IF Disney release it at all) would be over £4k, IF they put the discount on it. Renting points would be around £3.5k. Buying, and owning said points would be not much more than double the cash cost. We've already paid £14+k over the last 3 holidays, so the more I read, the more sense owning makes.

[2point]

Remember there are some 2057 OKW contracts out there in addition to the 2042 ones.

[Shani]

Originally Posted by 2point

Remember there are some 2057 OKW contracts out there in addition to the 2042 ones.

See more...

That would be the ideal one, to be honest, but I can't say I've ever been able to find any for sale! I think they must get snapped up quickly, once they're put up for sale?

[TinkTatoo]

Originally Posted by 2point

Remember there are some 2057 OKW contracts out there in addition to the 2042 ones.

See more...

If OKW is where your heart is then I'd look out for one of those although they are harder to come by and would probably be more expensive than SSR.

I'd start stalking all the resale sites religiously as sub 100 point contracts tend to go quickly as it's more likely that they're affordable to cash buyers

[YorkshireT]

2057 OKW contracts are like hens teeth, unless you buy direct but at 160 ish a point I'd think thrice before doing so. If you see one get an offer in quick. Sign up to the emails and also get the apps.
If you go in summer, usually no issue getting in OKW in a studio at 7 months.
1 beds as I'm sure you are aware (and if you get 150 points it opens up the possibility) are wide open at all resorts at 7 months in summer. Have you stated places like Boardwalk? Or Wilderness Lodge?
Consult 'the other board' DVC/ Buying DVC/ ROFR thread for sales data.
Earlier September has better availability than late September and October. Switching to 1 beds again though leaves lots of options on the table usually including OKW.
Consult Skier Pete's latest 2018 charts on the other board for 7 month availability.

[Shani]

Great YT, thanks.

Yes, 2057 OKW contracts seem really hard to get. We would be equally happy to stay at SSR, especially looking at the new room refurb photos. We enjoy spending time at Disney Springs, so both OKW and SSR contracts would work, but the easier-to-get and cheaper 2054 SSR contracts are more attractive.

Lots of discussions to be had with the hubby!