Saratoga Springs Remodel - Nothing Yet. Update ref Date

[Mr Tom Morrow]

Originally Posted by akhurstf1

Are we all expecting a huge increase in dues this year because of the refurb?

We've been DVC members since 2016 and our home resort is SSR. We haven't yet stayed there but think we will wait until the refurb is finished before we do.

Thanks for all the updates and pictures

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I'm expecting 3 years worth of above inflation rises to pay for this refurb.
Let's be honest Disney won't pay a penny for it, we the Members will pick up the entire tab.

[YorkshireT]

The dues already cover it I think, no need to increase much if at all because of the refurb. As of end of December, the capital reserves were $106 m sitting in the account. They reckon (with a roof replacement) within the next 40 years total expenditure will be $263m required on capital expenditure (things like refurbishments, roofs, maintenance, repaving etc). Whilst I haven't broken it down year by year, it would appear that at current dues rates the capital reserves account will build up at the required levels to meet obligations. I would certainly hope the current refurb doesnt cost $106m but there seems to be little clarity on such matters- in terms of what the contract for refurb cost, but I would expect maybe 30M?
It will be interesting to see what happens at the end of the contract, because they seem to be quite conservative to me in building up capital reserves, (albeit I am playing a guessing game but I imagine DVC will be risk averse in this area) and they maybe will build up too much. If they do, I imagine there could be chunky refunds due to people at the end of the contract.
Here is a prediction I havent seen yet. Imagine there are big capital reserves which I think will have to be returned, will contract owners be rubbing their hands in glee at a big payout at the end of the contract? I havent reviewed the documents by the way to see what definately happens in such a scenario.

Edit- BTW I agree we will have big rises coming anyway, they already prepared us for this year, mainly because of the increased labour costs to $15 an hour.

Edit edit- what will they be spending per unit for the refurb Tom in your view? $20k or more? With 900 ish units, $20k would give us around $18m, if it is $30k (surely no higher?) then $30m.

[Mr Tom Morrow]

Originally Posted by YorkshireT

The dues already cover it I think, no need to increase much if at all because of the refurb. As of end of December, the capital reserves were $106 m sitting in the account. They reckon (with a roof replacement) within the next 40 years total expenditure will be $263m required on capital expenditure (things like refurbishments, roofs, maintenance, repaving etc). Whilst I haven't broken it down year by year, it would appear that at current dues rates the capital reserves account will build up at the required levels to meet obligations. I would certainly hope the current refurb doesnt cost $106m but there seems to be little clarity on such matters- in terms of what the contract for refurb cost, but I would expect maybe 30M?
It will be interesting to see what happens at the end of the contract, because they seem to be quite conservative to me in building up capital reserves, (albeit I am playing a guessing game but I imagine DVC will be risk averse in this area) and they maybe will build up too much. If they do, I imagine there could be chunky refunds due to people at the end of the contract.
Here is a prediction I havent seen yet. Imagine there are big capital reserves which I think will have to be returned, will contract owners be rubbing their hands in glee at a big payout at the end of the contract? I havent reviewed the documents by the way to see what definately happens in such a scenario.

Edit- BTW I agree we will have big rises coming anyway, they already prepared us for this year, mainly because of the increased labour costs to $15 an hour.

Edit edit- what will they be spending per unit for the refurb Tom in your view? $20k or more? With 900 ish units, $20k would give us around $18m, if it is $30k (surely no higher?) then $30m.

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YT. So difficult to put a price on a refurb without seeing the plans and schedule of work.

Material isn't that expensive.

Take a Studio for example. A new bathroom suite, tiles for floor and walls. A new little kitchen and a new sink unit for the dressing area will come in under $2k with their huge buying power.

If they start ripping walls down is where huge money gets spent. Cheap to rip out and plasterboard isn't dear. But to install it and plaster it is where the costs come, plus skirting etc will need replacing.

So a good job for a Studio should be no more than $4k or $5k tops and furniture on top.

Then the room costs progressively increase as you go up the scale such as one bed, lock off etc.

I haven't seen any pipe work in the skips so it appears the water pipes aren't being replaced.

I have this urge to go skip diving to see what's in them.

[YorkshireT]

[Talland 2016]

Thanks for the photos

[Mr Tom Morrow]

Not much activity here yesterday. It's like all the Tradesmen have gone to another job. Weird.

I wonder if they are very near completing the first two blocks internally and are waiting for the next two blocks to be released to them.

Hilarious to see so many of them pulling along these with their tools in them. I thought they were for kids!

[Grace_1412]

I had a spy through the windows at CP when we were there a couple of weeks ago the studios looked like the plasterboard was new but were still basic shells so couldnt get a view of what they would be like.

We had a DVC tour as we are considering buying with SSR as our home resort. Has there been any images of what the new rooms will look like. The mock up of the studios at Resort Riviera looked fantastic with the setee bed coming off the wall rather than a pull out. Still undecided which resort to go for if we take the plunge

[YorkshireT]

Originally Posted by Grace_1412

I had a spy through the windows at CP when we were there a couple of weeks ago the studios looked like the plasterboard was new but were still basic shells so couldnt get a view of what they would be like.

We had a DVC tour as we are considering buying with SSR as our home resort. Has there been any images of what the new rooms will look like. The mock up of the studios at Resort Riviera looked fantastic with the setee bed coming off the wall rather than a pull out. Still undecided which resort to go for if we take the plunge

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Most current owners would avoid Riviera. If you sold it, the points can only ever be used at that resort- this will seriously impact on its resale value is the thought. The first contract that came up for resale allegedly went for well below what say a Copper Creek resale has gone for. Whereas DVC has always held its value well and actually made money long term, the outlook is not quite so rosy for Riviera. It is also very expensive points per night, and dues are very high. It could be a very, very expensive option but ultimately all you can do is research and make your own choices. I would have been tempted to get a contract there myself maybe if it didn't have the resale restrictions, but have just gone for another SSR resale instead.
Plenty of pictures of new SSR rooms on here if you look down the DVC thread. SSR can be picked up about 103 a point at the moment resale. Seriously think about resale for anything but Copper Creek, as you can save a lot of money. Poly resale contracts for example, have recently gone down quite a bit. The benefits are not worth the extra money (I have direct and resale).
SSR is the first resort to get the 'settee bed' (Murphy) with some of the new rooms being occupied it seems before Riviera opens.
Spend a good 3 months intensively researching, read the other board DVC thread (I do not want to mention the other board on here, but it does have very knowlegeable members on threads covering everything you can imagine) and read all the articles at DVC info.
We will certainly see SSR becoming a lot more desirable with the refurb and it wouldn't surprise me if the points costs climb a bit resale as a result. The room refurb looks very nice- above BWV and BCV for example and more in line with a Copper Creek or Riviera. The 1 beds are also getting 5 sleep surfaces- the under TV murphy and the sofa bed murphy- but the sofa bed in the 1 bed also has a chaise bit to it.

[Grace_1412]

Originally Posted by YorkshireT

Most current owners would avoid Riviera. If you sold it, the points can only ever be used at that resort- this will seriously impact on its resale value is the thought. The first contract that came up for resale allegedly went for well below what say a Copper Creek resale has gone for. Whereas DVC has always held its value well and actually made money long term, the outlook is not quite so rosy for Riviera. It is also very expensive points per night, and dues are very high. It could be a very, very expensive option but ultimately all you can do is research and make your own choices. I would have been tempted to get a contract there myself maybe if it didn't have the resale restrictions, but have just gone for another SSR resale instead.
Plenty of pictures of new SSR rooms on here if you look down the DVC thread. SSR can be picked up about 103 a point at the moment resale. Seriously think about resale for anything but Copper Creek, as you can save a lot of money. Poly resale contracts for example, have recently gone down quite a bit. The benefits are not worth the extra money (I have direct and resale).
SSR is the first resort to get the 'settee bed' (Murphy) with some of the new rooms being occupied it seems before Riviera opens.
Spend a good 3 months intensively researching, read the other board DVC thread (I do not want to mention the other board on here, but it does have very knowlegeable members on threads covering everything you can imagine) and read all the articles at DVC info.
We will certainly see SSR becoming a lot more desirable with the refurb and it wouldn't surprise me if the points costs climb a bit resale as a result. The room refurb looks very nice- above BWV and BCV for example and more in line with a Copper Creek or Riviera. The 1 beds are also getting 5 sleep surfaces- the under TV murphy and the sofa bed murphy- but the sofa bed in the 1 bed also has a chaise bit to it.

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Thanks, the one bed sounds a lot like Riviera and a drop down bed makes the studios far mor appealing. The sales lad was pushing Riviera massively but couldnt see the benefit in paying higher annual fees just to have earler booking. Going to loook into it and havent got around to resale yet so definately an option. After 5 on site visits 4 of which were at SSR we could have probably paid for the points a couple of times over by now. Just the lack of DDP that is making us think about it, but poor food quality this year is tipping us to DVC

[Birtie]

Originally Posted by Mr Tom Morrow

Not much activity here yesterday. It's like all the Tradesmen have gone to another job. Weird.

I wonder if they are very near completing the first two blocks internally and are waiting for the next two blocks to be released to them.

Hilarious to see so many of them pulling along these with their tools in them. I thought they were for kids!

See more...

We’ve just checked out of POR where there were working on half of our block and there’s been more workers there these last couple of days, so I don’t know if any of those would have come from SSR