Help us choose...

spiiffy · Mar 2, 2015

Hello dvc experts

We are a family of 5 and looking to purchase dvc. We vacation every year or so at WDW, Aulani, Disneyland or DCL. At the moment we live on the west coast but plan on moving to the east coast within two years.

Kids aged 6, 4 and 3mo.

I believe that resale is the way to go although my husband is not fully convinced this is the way to go. I have explained to him the savings but he is worried about the restrictions which I have tried tried to show him are not great use of points anyways. He is also worried about future restrictions.

If we do buy resale I have narrowed it down to OKW or BLT based on overall value and appeal but we are not sure which to choose. We like one bedroom units (not studios) and they must be able to hold a family of 5. We are looking at 200 points or so. We want to try all the various resorts over the next few years and we do not have an affinity to any one resort.

We are not buying to save money but more for the opportunity to stay in condo style rooms, guaranteed vacations and for the experience and perks of being a dvc member

So I guess I am hoping for some info, stories, advice etc about OKW vs BLT or suggestions of something else we should look at.

sgrap · Mar 3, 2015

Not an expert but thought I'd reply anyway. ;-) We are West Coasters and have only done Disneyland so far, and love the Grand Californian. We are in the process of buying GCV resale because we really want that as our home resort. From the advice we got, GCV is so small and hard to get into that we put that as our priority. We found a great resale package with points available now. We have a great experience so far with the Timeshare Store. We figured that with all the options at WDW, we would be able to find something at 7 months if and when we want to give that resort a try. Good luck!

disneynutz · Mar 3, 2015

spiiffy said:
Hello dvc experts

We are a family of 5 and looking to purchase dvc. We vacation every year or so at WDW, Aulani, Disneyland or DCL. At the moment we live on the west coast but plan on moving to the east coast within two years.

Kids aged 6, 4 and 3mo.

I believe that resale is the way to go although my husband is not fully convinced this is the way to go. I have explained to him the savings but he is worried about the restrictions which I have tried tried to show him are not great use of points anyways. He is also worried about future restrictions.

If we do buy resale I have narrowed it down to OKW or BLT based on overall value and appeal but we are not sure which to choose. We like one bedroom units (not studios) and they must be able to hold a family of 5. We are looking at 200 points or so. We want to try all the various resorts over the next few years and we do not have an affinity to any one resort.

We are not buying to save money but more for the opportunity to stay in condo style rooms, guaranteed vacations and for the experience and perks of being a dvc member

So I guess I am hoping for some info, stories, advice etc about OKW vs BLT or suggestions of something else we should look at.

You can rent a reservation from an owner and stay in the DVC resorts without having to buy.

You could buy knowing that without staying in all of the DVC resorts can you really know which is your favorite? We bought BLT without staying there first and it is one of our least favorite resorts. OKW is a nice resort but it is the first resort and IMO shows it's age.

:earsboy:

Bill

Dean · Mar 3, 2015

spiiffy said:
Hello dvc experts

We are a family of 5 and looking to purchase dvc. We vacation every year or so at WDW, Aulani, Disneyland or DCL. At the moment we live on the west coast but plan on moving to the east coast within two years.

Kids aged 6, 4 and 3mo.

I believe that resale is the way to go although my husband is not fully convinced this is the way to go. I have explained to him the savings but he is worried about the restrictions which I have tried tried to show him are not great use of points anyways. He is also worried about future restrictions.

If we do buy resale I have narrowed it down to OKW or BLT based on overall value and appeal but we are not sure which to choose. We like one bedroom units (not studios) and they must be able to hold a family of 5. We are looking at 200 points or so. We want to try all the various resorts over the next few years and we do not have an affinity to any one resort.

We are not buying to save money but more for the opportunity to stay in condo style rooms, guaranteed vacations and for the experience and perks of being a dvc member

So I guess I am hoping for some info, stories, advice etc about OKW vs BLT or suggestions of something else we should look at.

You seem to have it figured out, you husband, not so much. Your best options to prove the point that DCL and similar are poor choices buying retail might be the following. First calculate the additional cost for the same resort resale and retail and ask him if that amount is worth it for insurance against any present or future resale restrictions. Then calculate the cost of doing a typical cruise on points and what it would be cash normally this is between $6 & $7.50 per point. Calculate the difference between that and fees including the $95 exchange fee. Then calculate how many extra points you'd need to cruise on points rather than on cash and only using points for DCL. Calculate the retail price of those extra points and add that to the premium just on the points you were looking at. It might look something like this.

$20000 for 200 BLT points resale
$25000 for retail (not sure if the retail went up recently on the sold out resorts)
Need an exra 200 points yearly to cruise every yrs so another $25000.
So the option to cruise every 3 yrs on points would cost you roughly $30000 plus the Maint fees on 200 points or another $800 per year extra.

If you end up buying retail, I wouldn't buy at those resorts but a fixed week at the Poly or GF.

a742246 · Mar 3, 2015

As Disneynutz says renting is probably your best option. I would wait to buy until you move to the east coast.
Buying resale is the way to go!

suebeelin · Mar 3, 2015

You are grandfathered into the current restrictions and not subject to future restrictions.

If you bought resale prior to March 2011, there are no restrictions.

If you bought resale after March 2011 you are only restricted room the concierge, adventures and another one of the collections (slipping my mind). The ppl whom I personally know who bought direct (2000 and 2009) have never used a non dvc resort option. Neither wiil we. So resale restrictions do not bother us and that's the way we went. We saved 30k buying resale in today's prices vs our cost. We bought last month and in 2011.

If you want to rent out your points, certain resorts command a premium (BLT, etc). BLT std rooms are hard to get on the 7 mo mark (less points). Okw is dated, I believe.

We bought where we want to stay. We only want to talk to the parks

Good luck!

skier_pete · Mar 3, 2015

You are right that resale is the way to go. If you want to "use your points" to cruise, you are much better off financially renting your points through a service, and taking the cash to pay for the cruise. This will save you probably 50 % versus using your points.

If up front cost doesn't matter, I would pick BLT over OKW any day of the week.

1) Owning BLT gives you the opportunity to rent "standard" view rooms at BLT, which are lower point costs than the lake or MK view rooms. These are typically only available to owners at BLT because they rent quickly.
2) Most OKW contracts run on in 2042, though a few are longer but those cost more up front. BLT contracts are until 2059 (I think - might be off a year or two) and therefore will retain more value.
3) OKW is easy to stay at with point you own at BLT. BLT is harder to get into if you own at OKW.
4) Location, Location, Location

Missyrose · Mar 3, 2015

suebeelin said:
You are grandfathered into the current restrictions and not subject to future restrictions.

If you bought resale prior to March 2011, there are no restrictions.

If you bought resale after March 2011 you are only restricted room the concierge, adventures and another one of the collections (slipping my mind). The ppl whom I personally know who bought direct (2000 and 2009) have never used a non dvc resort option. Neither wiil we. So resale restrictions do not bother us and that's the way we went. We saved 30k buying resale in today's prices vs our cost. We bought last month and in 2011.

If you want to rent out your points, certain resorts command a premium (BLT, etc). BLT std rooms are hard to get on the 7 mo mark (less points). Okw is dated, I believe.

We bought where we want to stay. We only want to talk to the parks

Good luck!

I don't think there's been anything in the deed/contract language that guarantees that any future resale restrictions would have all current owners grandfathered in. The assumption is that because Disney grandfathered owners in before, Disney would do it again. But it's nowhere near guaranteed.

J-Akers · Mar 3, 2015

Seriously, buy resale. The only time buying direct makes any sense at all right now is if you want VGF. Even buying Poly isn't necessary because there aren't enough Poly owners to book up the rooms they have already. I have several nights this year booked at the Poly on SSR points. This may change as more people buy in and exercise the 11 month window, but at this point it is a big unknown.

Buying direct for any resort other than VGF (right now) is a big waste of money. In fact, if you are buying BLT it might even be faster to buy resale because if you buy direct you will have to wait for Disney to exercise ROFR on someone else's contract, only to turn around and sell it to you for 2x as much. No way!

Dean · Mar 3, 2015

suebeelin said:
You are grandfathered into the current restrictions and not subject to future restrictions.

That is not accurate. While they might or might not grandfather the current restrictions, it's more likely they won't if they change them. Technically even the qualified points are not guaranteed options going forward. For example, IF DVC instituted a VIP program, it might exclude any or all current owners or require a fee to participate. And if they created a new timeshare system, say DVC II, there's no guarantee of cross availability and if there were, it's likely to be restricted in some way by either a VIP program and/or qualified points (non restricted resale).

J-Akers · Mar 3, 2015

Dean said:
That is not accurate. While they might or might not grandfather the current restrictions, it's more likely they won't if they change them. Technically even the qualified points are not guaranteed options going forward. For example, IF DVC instituted a VIP program, it might exclude any or all current owners or require a fee to participate. And if they created a new timeshare system, say DVC II, there's no guarantee of cross availability and if there were, it's likely to be restricted in some way by either a VIP program and/or qualified points (non restricted resale).

While it definitely isn't guaranteed, I wouldn't say it would be more likely that they wouldn't grandfather. When they changed the restrictions for resale for the cruises/Disney Collection/etc, they did grandfather previous resales. If you go based on history, it would be more likely that they would do this again if they make another large change. You can't bank on it, but I wouldn't say that they wouldn't, either.

Dean · Mar 3, 2015

J-Akers said:
While it definitely isn't guaranteed, I wouldn't say it would be more likely that they wouldn't grandfather. When they changed the restrictions for resale for the cruises/Disney Collection/etc, they did grandfather previous resales. If you go based on history, it would be more likely that they would do this again if they make another large change. You can't bank on it, but I wouldn't say that they wouldn't, either.

I'm doubting they want multiple versions to keep up with. Historically the other systems I'm aware of that have made changes over time have not gone with multiple versions, maybe Jim or Brian can comment on what Wyndham as done in this area.

Tinkerdreams · Mar 4, 2015

Definitely buy resale. If you're only plans are to visit WDW, then the current restrictions don't apply - plus like another PP stated, you can rent out your points and use the cash to book DCL (for example). One other thing you want to consider is the length of the contract. OKW stops at 2042 for most unless you snag one that was extended (I think to 2057). BLT goes till 2061? I believe. Since you have young children, that would play a big part in the decision. Good luck!!

suebeelin · Mar 4, 2015

Oh! Sorry I didn't know the grandfathered situation isn't guaranteed. Even more reason to be glad we bought resale ivy where we are happy at staying (and have primarily stayed thus far).

spiiffy · Mar 5, 2015

Thanks for all the responses. We are still debating and have not made a decision. We are stuck on location vs family amenities (playground, child friendly themes, etc)

CMNJ · Mar 5, 2015

One other thing I didn't see mentioned in this thread but have read others post about in the past. If you do go with OKW and get an extended contract no one knows what will happen with the resort and maintenance fees once 2042 arrives. Since many owners did not extend their contracts ownership for a good portion of the resort will revert to DVC (unless they offer extensions again and a lot more owners decide to extend). So for those additional 15 years on 2057 contracts no one knows if part of the resort will be shut down, converted to hotel space etc (all of which could affect availability and Maintenance fees). Obviously this is all pure speculation but something to consider.

nalajms · Mar 5, 2015

spiiffy said:
We are stuck on location vs family amenities (playground, child friendly themes, etc)

Huh?

Are you saying OKW has more family amenities compared to BLT? Not sure what's considered "child friendly theme", but how long will that be important? With DVC you want to think looooooooong term. Are the kids going to go with you when they are in high school or as adults? What will they prefer? Are you going to take their preferences into consideration at that point? :goodvibes

We bought at BWV before kids. We bought VGF because that's what I like. The other resorts were more for 7m booking elsewhere.

If you really do not have a preference, I'd buy at SSR to try out the other resorts and get a handle on the booking system. I'd also buy a loaded contract and half the points you need so that if/when you decide, you can buy at your preferred resort.

loudisneyfan · Mar 6, 2015

We just bought DVC last week through Disney and bought 100 points at OKW. They happened to have some points in inventory and we wanted our first resort to be one with lower initial cost and lower maintenance costs. Our plan is then to purchase additional points, approximately 50 - 80 at a time at different resorts so that eventually all of the resorts will be our home resorts.

specalkay · Mar 6, 2015

I am sitting in a room at BLT right now. We wanted to go to rope drop this morning at MK. Nothing beats walking there. It doesn't matter what happens you can be there in 8-9 minutes. We were walking over and noticed a POLY/GrandFlo bus dropping off people and I was like, "why in the world would those guys be on a bus?"! We saw the monos passing but evidently they were not running w/ passengers. We talked to some people from GF that almost missed their breakfast ressie b/c they had to wait for a bus, since the mono wasn't running until rope drop! Can't imagine spending so many Points/Dollars to stay there then have to take the bus to MK!

Anyways, heading home after a great day a MK, me and DW were commenting on how nice it is no matter what happens with busses, boats, and mono that we are only 9 minutes from the MK gate to our room!

I am biased no doubt b/c I am here now, but go BLT!!!

yaawgmoth · Mar 12, 2015

Either option is a good choice, yet buying direct is far too expensive IMO.
There may be restrictions, yet as far I am concerned, the purpose of buying DVC is to stay at DVC.
With as many resale contracts as DVC has, my opinion is that the restrictions will be minimal to your ability to stay on property.

After you research every option possible, if you make the choice to buy, enjoy.

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