We just bought DVC direct, OKW, our favorite resort, 2057 expiration

[rickandcindy23]

There is a deal happening on OKW, which I saw on Facebook. We went to a short presentation on Wednesday, talked to a salesperson that afternoon, and Rick was the person most motivated to buy of the two of us. Such a surprise.

The deal is $90 off of OKW per point + reimbursement of 2024 MF's at $20 per point. We would have to pay MF's, so it's basically another $10 off per point.

 

[b2bailey]

Have to say I am surprised -- even knowing how often you go there!

 

[rickandcindy23]

Have to say I am surprised -- even knowing how often you go there!

Yes! Our grandkids all love Disney. We sold our townhouse in 2021, and we have the cash, so we bought 1,000 points.

 

[dioxide45]

OKW is such an easy trade and the annual fees don't make it an attractive resort for sleep around points. Do you see this saving you money over just using a cheap trader to book in through II?

 

[rickandcindy23]

OKW is such an easy trade and the annual fees don't make it an attractive resort for sleep around points. Do you see this saving you money over just using a cheap trader to book in through II?

No, but we do like to stay at Disney during times of year when we cannot get exchanges, like in October.

We really like to take advantage of early magic hours, so Marriott doesn't do that for us in October. Plus, the resale value two years ago exceeded the price we are paying today direct, and our kids will get the benefits for years to come of owning direct.

I also have been renting DVC at double my cost, and even David's can rent for $16 per point for us, should I get lazy. About $10 per point in MF's for 2024, double that is pure profit.

 

[CrazyPanda]

Don’t you also have to be an OKW owner to get one of the Grand Villas?

 

[rickandcindy23]

Don’t you also have to be an OKW owner to get one of the Grand Villas?

Those don't show up for exchange anymore. They used to. I was able to get one just once. That was about 10 years ago through RCI.

We are planning a trip for us and the kids for fall break, and I have given up on exchanges, so I am booking Saratoga Springs for a week for us, and I have no points left, so I will be cancelling reservations to book Saratoga with points. You do what you gotta do.

If that week happens to come through via exchange, I will rent the week I reserved with points through David's Rentals. RW is a bust with my DVC rentals because people are renting exchanges. That is becoming a business for some people.

 

[5finny]

Just wondering
What could you have bought this for resale?
What are the advantages to buying direct?

 

[rickandcindy23]

Just wondering
What could you have bought this for resale?
What are the advantages to buying direct?

Buying direct today has definite advantages over resale. In other words, current resale benefits are much more limited than when we bought our initial points via resale years ago. The only benefit we can really use regularly is what we already have with our resale, and that is the Sorcerer's annual pass. We have had annual passes almost every year since owning DVC, and even before DVC. The Sorcerer's Pass is for FL and DVC members only. We don't live in Fl, and that is a real benefit for us X 15 people in our immediate family between kids and grandkids.

Our three kids will be on this contract. When our daughter-in-law had to buy the Incredi-Pass for their family of four, she was quite upset that she had to pay that much, so we added our two sons to one of our resale contracts. They did get six weeks of Disney out of those passes but she was sure jealous of our deal. Had to correct that.

All of our kids and grandkids love Disney, and I don't see that changing much. Our oldest son is not as enamored with Disney, but our DIL never really went to Disney as a kid (her parents never really got into Disney and thought it was all pretty lame), and she really loves Disney and so do their two kids. Our son is outvoted, but he enjoys watching the kids having fun. Our son-in-law, same exact situation, different outcome. His parents didn't ever care for Disney or amusement parks in general. He doesn't love Disney but goes with the family because he is just a good sport about it.

Most of the other benefits won't get used much. But when we go to Disneyland Paris in two years, if we can get a good deal on a hotel by Disney, we will use points for that. If we go to Tokyo, same thing. I have looked at cruise benefits and didn't think that made much sense. Disney cruises are very expensive to start, and using points is like throwing money away, if you can rent them and pay for a cruise with Norwegian or another cruise line for much less.

Again, I am going to reiterate that resale value on these points is not much different today than what we are paying for these points. I expect the points will not devalue over the next 20 years, and if we want to sell later on, we won't lose much money. OKW are going for about $74 per point resale but are getting ROFR'd at that price, even slightly higher. The expiration on the points going for $74 is 2042, the points we are buying don't expire until 2057.

 

[ljmiii]

The deal is $90 off of OKW per point + reimbursement of 2024 MF's at $20 per point. We would have to pay MF's, so it's basically another $10 off per point.

Wow! I'm sure the answer is "no", but did the salesrep happen to mention any other resorts that DVC is offering amazing deals for?!?

 

[Huskerpaul]

Congrats. I'm sure you will enjoy. I know you said OKW is Rick's favorite resort.

Always interesting to see the differences in response between TUG and DISBoards. On DISBoard's DVC thread, 90% of the responses would be positive like "WOW Fantastic!" and "Welcome Home Neighbor!". On TUG, you say you bought a timeshare from a developer and the reaction is probably 90% skeptical.

I own BWV resale with no benefits because I bought just a few years ago. The FOMO gets to me sometimes and I dream about direct contracts. Who knows, if the Mouse has a blowout deal like this at Animal Kingdom, I would be tempted to buy 150 points to get a Blue Card. Then I would just have to convince my wife...................

 

[bnoble]

Wow! I'm sure the answer is "no", but did the salesrep happen to mention any other resorts that DVC is offering amazing deals for?!?

Not right now. DVC News keeps close tabs on the various promotions.

 

[rickandcindy23]

Wow! I'm sure the answer is "no", but did the salesrep happen to mention any other resorts that DVC is offering amazing deals for?!?

No, just OKW, and I think it's to bring the expiration to 2057 for the entire resort at some point. I always wondered what happens after your term ends. I assume those points that expire in 18 years will just disappear like Mickey Sorcerer magic.

The resale value on the expiry date of 2057 is not as low as the 2042 listings. I see listings for the same price we are paying for our points directly from Disney with the extended expiration date. Not that you can sell OKW points for over $100 per point, but some people are attempting it.

 

[rickandcindy23]

Congrats. I'm sure you will enjoy. I know you said OKW is Rick's favorite resort.

Always interesting to see the differences in response between TUG and DISBoards. On DISBoard's DVC thread, 90% of the responses would be positive like "WOW Fantastic!" and "Welcome Home Neighbor!". On TUG, you say you bought a timeshare from a developer and the reaction is probably 90% skeptical.

I own BWV resale with no benefits because I bought just a few years ago. The FOMO gets to me sometimes and I dream about direct contracts. Who knows, if the Mouse has a blowout deal like this at Animal Kingdom, I would be tempted to buy 150 points to get a Blue Card. Then I would just have to convince my wife...................

The more points you buy, the less expensive per point. 1,000 points for $105 net after the incentives is pretty good. I have not seen the paperwork yet.The closing costs are outrageous, I know that for sure.

Rick is dealing with major hail damage from last night. Our yard is full of branches and leaves, lots of lawn furniture broken and damaged beyond help, unfortunately. He takes great pride in our yard, and it looks like a tornado hit. The hail was various sizes, mostly pebble, some large marble to golf-ball sizes. We watched in horror as our tree of 45 years lost about half of its leaves, maybe more.

 

[got4boys]

Interesting that they are still offering that. Disney stop sales on that promotion a couple weeks ago. Was it $205 was the regular price? Did you break it up into smaller contracts? If you purchased 1,000, it will be harder to sell later on and the resale value. Yes you would have to pay for extra closing costs but will recoop more later on should you decide to downsize your timeshare portfolio.

Also, depending on your DVC use year, you could get 2023 points for free! It is a great deal! Depending what you buy - it is very close to the current market resale price of Old Key West with a 2057 expiration date.

 

[rickandcindy23]

Interesting that they are still offering that. Disney stop sales on that promotion a couple weeks ago. Was it $205 was the regular price? Did you break it up into smaller contracts? If you purchased 1,000, it will be harder to sell later on and the resale value. Yes you would have to pay for extra closing costs but will recoop more later on should you decide to downsize your timeshare portfolio.

Also, depending on your DVC use year, you could get 2023 points for free! It is a great deal! Depending what you buy - it is very close to the current market resale price of Old Key West with a 2057 expiration date.

Our use year is 2/1, so that was something we could not get (2023 points).

I know Disney stopped doing that promotion, but we didn't have a salesperson assigned to us anymore. Our guy quit or retired. Our new DVC salesperson was our advocate in getting this promotion. I am very happy with it, but I think our net amount will be a little more than the $95 per point that I saw touted on Facebook on the DVC various groups I belong to. We were in Italy and saw the deal, and we knew we would be in Disney two weeks after we got back from our cruise, so we figured it would still be available, but of course it wasn't, and here we are, special permission to buy the points we wanted, and for a price not quite as good as if we received the 2023 points as well.

 

[rickandcindy23]

Interesting that they are still offering that. Disney stop sales on that promotion a couple weeks ago. Was it $205 was the regular price? Did you break it up into smaller contracts? If you purchased 1,000, it will be harder to sell later on and the resale value. Yes you would have to pay for extra closing costs but will recoop more later on should you decide to downsize your timeshare portfolio.

Also, depending on your DVC use year, you could get 2023 points for free! It is a great deal! Depending what you buy - it is very close to the current market resale price of Old Key West with a 2057 expiration date.

We were thinking of 2 X 500, but maybe we should do 4 X 250. The closing costs of two X 500 as opposed to 1,000 is $349 difference. Maybe we should pay to have it broken down into the 250's for ease of selling later, if we even did that, which we wouldn't likely, but our kids might someday. We are 69 years old, so we will be long gone before these points expire.

 

[TheHolleys87]

We were thinking of 2 X 500, but maybe we should do 4 X 250.

If you or the kids ever wanted or needed to sell, a 250 point contract will sell much more quickly and at a higher price per point than a 500 point contract. And having several contracts would allow you/the kids to sell just one, for instance.

 

[elaine]

If you or the kids ever wanted or needed to sell, a 250 point contract will sell much more quickly and at a higher price per point than a 500 point contract. And having several contracts would allow you/the kids to sell just one, for instance.

I also concur: 250 is way easier to sell than 500, which is still better than 1,000. I would definitely want that flex. Who knows what the grandkids will want to do 10-20 years from now?

 

[rickandcindy23]

Yes, I am definitely thinking of 4 X 250 now. We have yet to pay and sign the contract. We had so much cleanup in the yard, and our grandkids came over for the day.

 

[Fido Chuckwagon]

There is a deal happening on OKW, which I saw on Facebook. We went to a short presentation on Wednesday, talked to a salesperson that afternoon, and Rick was the person most motivated to buy of the two of us. Such a surprise.

The deal is $90 off of OKW per point + reimbursement of 2024 MF's at $20 per point. We would have to pay MF's, so it's basically another $10 off per point.

What was your effective price per point? Can you get this deal by calling or does it have to be in person? I’m looking to add another resale contract on, but if the price is right I guess I wouldn’t mind getting a blue card.

 

[Fido Chuckwagon]

so we bought 1,000 points

Now I really want to know what your effective price per point was.

 

[Fido Chuckwagon]

1,000 points for $105

Any idea of what it is for 150 points? I was looking at picking up a BLT resale 150 point contract for SAP, but this is intriguing. We stay in 1 bedrooms a lot, so home resort priority really doesn’t matter.

 

[rickandcindy23]

Now I really want to know what your effective price per point was.

It's supposed to be $95 per point for the number of points we are buying. But, I think we have to pay 2024 annual dues, which would bring it up to $105 per point.

 

[Fido Chuckwagon]

We were thinking of 2 X 500, but maybe we should do 4 X 250. The closing costs of two X 500 as opposed to 1,000 is $349 difference. Maybe we should pay to have it broken down into the 250's for ease of selling later, if we even did that, which we wouldn't likely, but our kids might someday. We are 69 years old, so we will be long gone before these points expire.

I would definitely pay extra to break it down further. 500 point contracts will be very difficult to unload.