Disney's Golden Oak Resort Community

[myoakley]

I received a brochure today introducing Disney's Golden Oak Resort Community, which is whole ownership of single family homes at Disney World. I went on the website (www.disneygoldenoak.com/inquire) and was blown away! To say they are luxurious is an understatement. Disney must know something that no one else knows to be building the way they are (I'm thinking also of Aulani) in this economy. Prices of these homes start at 1.4 million. Incredible!

 

[rickandcindy23]

The ultimate DVC vacation home. Holy cow! Wish I could afford it.

 

[joyzilli]

This would be a great place to retire!! Too bad I can't afford to do it

 

[bnoble]

Not surprising at all. The "bad economy" is really only hitting the middle class and below. The well-to-do are doing well.

 

[zcrider]

Wow, really cool. Thanks for sharing. Now I know where to move after I win the lottery.

 

[marmite]

Disney must know something that no one else knows to be building the way they are (I'm thinking also of Aulani) in this economy. Prices of these homes start at 1.4 million. Incredible!

Yes, they know the rich are getting richer and the poor are getting poorer.

Beautiful homes though... I could get used to that quickly.

 

[MichaelColey]

Prices of these homes start at 1.4 million.

If you compare that to the cost of staying in a 2BR DVC unit year-round, it's not that bad of a deal...

Typical 2BR DVC, 300 points. Typical purchase price, $100 per point. 300*100*52 = $1.56 million upfront. Typical maintenance fee = $5 per point. 300*5*52 = $78k in annual MFs.

 

[glypnirsgirl]

I bet the HOA dues are through the roof.

 

[AnnaS]

Will look forward to seeing how fast they sell.

 

[tlwmkw]

I guess if you compare the prices to large beach houses they aren't too ridiculously priced and people will buy them to use and get some rental income. Though I would guess there are more economical ways of buying a house in Orlando area. If you rent it out though do the renters get all the benefits that the owner gets? If not then it's not such a great deal. It's aimed at the Disney fanatics with lots of $$$. The Four Seasons connection will be a big plus too.

tlwmkw

 

[MichaelColey]

If it's rental income you want, I bet you would do a lot better with about twenty $50k-$100k houses than a single $1.4+ million house. With a house payment somewhere in the neighborhood of $15k/month (plus HOA fees, insurance and taxes), you would have to charge some big bucks to make a profit. I doubt many people would be willing to pay more than the $5k/week or so that it costs to rent a 2BR DVC unit directly from Disney.

 

[Janann]

Probably not rentable

...people will buy them to use and get some rental income.

I would expect that the homeowners' association would have some serious limitations on the owner's ability to rent the house out, whether it is weekly, monthly, or yearly.

 

[bnoble]

I bet you would do a lot better with about twenty $50k-$100k houses

...preferably not located in Orlando. Mouse-town is *lousy* with rental inventory.

 

[tlwmkw]

I didn't mean to buy this as a money-making rental unit but the way the description reads on the website it sounds like Disney will do the renting for you if the house is empty. I would assume that most buyers also would be using cash since the banks aren't going to lend money on this type of second home so I wasn't considering a mortgage (if you can afford these houses then you don't need a mortgage). The web site suggests that they can be rented via Disney (or perhaps Four Seasons) but it isn't explicitly stated. Wonder if anyone can find out more information?

tlwmkw