buy into OKW or SSR???????

Discussion in 'Purchasing DVC' started by disguy1, Jan 15, 2007.

  1. disguy1

    disguy1 Mouseketeer

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    I have the option to buy into SSR at the promotion of $86 a point with 150 points till 1/20 with the 2054 exp date


    or


    I can buy a OKW resale for $78 a point with 150 points coming in December 2007 PLUS 256 banked points thrown in for free. I know Disney had ROFR, so im not sure if it will survive it. OKW expires in 2042


    what would you do??
     
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  3. skibum

    skibum DIS Veteran

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    I will just give you our reasoning for purchasing SSR.
    We liked the extra 12 years (less per point when you amortize it over the length of the contract, plus better resale value down the road), the fact it is new, and the lowest maintenance fees of any of the DVC's.:cool1:
    That said, it sounds like a good deal on the OKW, and comes down to a personal decision.
    Good luck!!:thumbsup2
    If you need a referral, just PM me.
     
  4. phorsenuf

    phorsenuf Not so New Rule author

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    Thats alot of banked points and a great price too. Are resales passing ROFR that low these days? To me the extra years outweighed a lower price.
    But you have to determine whats best for you family situation now and down the line.
    PM if you need a guide and referral name. My guide is real good!
     
  5. disguy1

    disguy1 Mouseketeer

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    yes.....OKW seems like a good deal with the banked points, but DVC may use there ROFR due to the amount of free points im getting..
     
  6. phorsenuf

    phorsenuf Not so New Rule author

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    Have you checked out that thread about whats been passing ROFR lately?
     
  7. disguy1

    disguy1 Mouseketeer

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    Im not quite sure what is passing
    does anyone know if DVC is passing OKW @ 78$ with banked points?
     
  8. mbrowninc

    mbrowninc Mouseketeer

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    I think I was going to buy the same listing at OKW that you are refering to but eventually decided to go through Disney. I was able to get a Sept. use year with 2006 points through Disney. It just made more sense to buy through Disney for me. I was afraid that the OKW listing would not make it through ROFR and I would be stuck buying through Disney at a higher price. Also I had to finance for a short period and Disney made it super easy. They also do not report to credit agencies. That was important because we are in the process of building a new house. Do what you think is best but I am happy I went through Disney.

    Melanie
    :)
     
  9. LIFERBABE

    LIFERBABE DVC MEMBER @ BCV BWV OKW SSR BLT AKV

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    Are you going to be paying Maintenance Fees on those banked points? Technically, you are getting 106 more points than you would if you purchased a December UY now thru Disney but you will probably end up paying full MF's on all 256 for the resale.

    Disney would sell you a Dec 06 UY now with all points intact (150) and a new set (150) coming in Dec 2007 for $86 per point and $200 closing costs. So around $88 per point.
    When you start paying maintenance depends on your building and closing date.

    Add in closing costs and your savings would be small if any.

    This resale will most likely pass ROFR, once you throw back in the MF's and closing costs it will cost you as much as Disney with 12 fewer years.

    I just dont think that similarly priced contracts are a good enough deal to pass up the 12 extra years of trading value. A few years back, maybe.
     
  10. disguy1

    disguy1 Mouseketeer

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    i would not be payying MF for those extra 256 points....thats what makes it a sweet deal, but im not sure if DVC will pass it....i may just go with SSR, heck with it..this is frustrating after a while:dance3:
     
  11. LIFERBABE

    LIFERBABE DVC MEMBER @ BCV BWV OKW SSR BLT AKV

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    Then you would be around $81 per point for the resale. That would be cutting it close for ROFR considering DVC could sell that for at least $92 per point and keep the banked points.

    A savings of $900 if you decide to go for it. I guess another way to look at is, $900 for 12 more years or $75 per year for 12 years.

    Edited to add last OKW ROFR info from ROFR Thread:

    triple7 (seller) ---- 210 OKW (Dec) $76, 180 '06 pts coming and all '07 pts coming, buyer pays all MF and closing, can't close until after 10/28 (ROFR'd 9/22) - member
     
  12. tubtruck

    tubtruck Tubtastic

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    Its now at the point where an SSR contract is 25% longer than a contract for all the other available resorts, in 12 years time it will be considerably longer than a contract for any other resort, my opinion is that this makes some of the secondhand contracts look pretty unappealing, $78*1.25 = $97.50. This is the real price of the OKW contract at this price if it had the same length as the one at SSR or put it another way $86/48 = $1.79 per point per year for the duration of the SSR contract not including any other fees, dues, etc which incidentally are higher for OKW, against $78/36 = $2.16
    That would be the cost of OKW for what is left on the contract. Obviously as the years roll by i.e in around 24 years time a SSR contract will be twice as long as a contract at any of the present resorts, there will be a time when a contract at SSR will be worth a lot more than at any of the present resorts and that margin will only get bigger as the years role on, one day when a SSR contract has 12 years to run which given DVC has only been running for about 14 is still a fair amount of usage to go and will still be worth a good bit of cash, an OKW contract at this point in time is guaranteed to be worth the grand total of zero as the owner of the contract will by then be a Mr M Mouse
     
  13. disguy1

    disguy1 Mouseketeer

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    I have an offer from my DVC guide....he will give me August 06 points (150)for $86...then, of course I would get a new set of 150 points August 07

    im gonna hold out a day or 2...just to see if he comes back with a better offer
    :drive:
     
  14. phorsenuf

    phorsenuf Not so New Rule author

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    There won't be a better offer. That $86.00 is based on the friends and family promotion. I'm assuming you gave him a members name in order to get that price. That's the best offer they've ever given.
     

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