Buying resale: BWV or OKW?

[JudyS]

Hello everyone! I have wanted to buy into the DVC for years; however, it wasn't economically feasible for us until recently. Today is my 10th wedding anniversary, and DH suggested buying into the DVC as a Anniversary present. Hooray! So, I have a bunch of questions to help me decide what contract would be best.

One of my biggest questions is where to buy. We plan to buy resale in order to try to save a little money, plus it seems that not much is available right now through Disney, other than pre-opening SSR contracts. (I'd rather buy into a resort I've already seen.) We definitely want one of the on-site resorts, so Hilton Head and Vero Beach are out. This means we will probably go with Old Key West or Boardwalk Villas, since Beach Club and Wilderness Lodge resales are hard to find.

Probably, we will want to stay at OKW some years, and BWV other years. Buying contracts at both is really not feasible financially for us at the moment. So, the question is which resort to get. I have toured both OKW and BWV, and I find them both extremely nice. I know there are strong opinions here about which resort is preferable, given room size, location, amenities, noise, etc., but I've already decided that I like both resorts, so that is not an issue for me. Instead, I'd like opinions about financial, trading, and reservations considerations.

It seems to me that even though OKW has lower dues, I might be better off buying at Boardwalk. My reasoning is that I can probably get an OKW studio or one bedroom for most dates at the 7-month window. However, getting a reservation at Boardwalk at the 7-month window strikes me as much tougher. In particular, my impressions is that Standard View rooms at Boardwalk are almost always gone at the 7-month window. Since we will be buying a smallish contract (probably 150 points or just a bit more), I will really want to maximize my points by getting a Standard View when I stay at the Boardwalk. Furthermore, I'm guessing that Boardwalk points are more desirable for renting or trading, given that other people want to get into Boardwalk at the 11-month window, too. The new "Boardwalk View" and "Quiet View" categories are yet another reason to want to get into Boardwalk at the 11-month window. OKW doesn't have anything comparable to these different room categories, so reserving at the 11-month window is less of an issue.

So, I'm leaning towards Boardwalk as my home resort, if I can find a resale that I like. Do people think my reasoning is right? Have I understood the factors involved in reserving rooms, and am I correct in my impression that rooms (other than Grand Villas) are usually available at OKW at the 7-month window?

Also, I'm trying to figure out what is a good price for a Boardwalk resale. My impression is that Boardwalk often goes for a dollar or two more per point at resale than does OKW. Has anyone else noticed this?

Thanks in advance for your insights!

Judy S.

 

[DebbieB]

I sort of had the same decision when I bought almost 4 years ago. I liked both OKW & BWV. OKW was only available through resale, DVC was close to selling out BWV. I wanted to stay at OKW in May and BWV in early December. The reason I bought BWV was it would be very difficult to get BWV in early December at 7 months (especially standard view), but it's very easy to get OKW in May at 7 months. I have not regretted my decision.

 

[timC]

Congrats on your decision!

Rule#1: Buy where you want to stay the most. If you were stranded on a deserted island with only 1 resort, which would you pick (boats not included )? Your interest in both OKW and BWV is not really a special problem. DVC'ers generally think all of the resorts are terrific for different reasons. But since you're only buying one resort today, you gotta first decide on your favorite.

Once you get that figured out, points/view strategies will sort themselves out.

Regarding renting/trading options, I'm not so sure about that, but it's not a very strong reason to buy a particlur DVC resort.

 

[Popovich]

We had the same issue 3 yrs ago. We bought 2 resale contracts at BWV for the same reasons and it has been a great choice. Since we purchased, be have stayed at BWV twice, VWL once (no problem with 7 mo window), and we're staying at BCV this Oct. (no problem at 6 months out).

We've also let friends use our points twice, no problem for their resies 6 or 7 mos out OKW at beginning of Dec. and BCV in beginning of Dec.

Hope this helps you.

 

[ncligs]

Originally posted by JudyS
. Today is my 10th wedding anniversary, and DH suggested buying into the DVC as a Anniversary present. Hooray!

"Happy 10th Anniversary"!!

You can't go wrong with either one, but if you want Boardwalk at certain times, you will need the 11 month window.

 

[J.P.]

i like OKW but either places are great to stay at. JP

 

[riggins]

We just bought in July and faced the same dilemma. We had stayed at both before and love them both, but decided to buy at BWV for the exact reasons you mentioned. We really wanted to be able to take advantage of the standard view and knew that we would have trouble getting it without the 11 month window.

FWIW, you may still be able to get some BWV points direct from DVC if you are interested. We had planned to do a resale, and quite frankly, probably should have, but buying direct was so much easier. We haven't closed yet, but my reservations were made weeks ago; I didn't have to worry about ROFR; etc. About 6 weeks ago they still had points with a Feb use year available.

Good Luck
-Leslie

 

[DeeP]

BWV has always been much more difficult to book on a whole and now with the new room reservation system at BWV the BW views and the standard view rooms are going to get even more difficult to get outside of the 11/7 month window.
You can always use your pts to stay at any of the DVC resorts but for when you want to stay at BWV the home booking advantage will be important.
Booking a GV at OKW is the exception to this though, so if you think you will book a GV on a pretty regular basis that is something to weigh into the equation.
BWV resale prices do tend to be a little more than OKW but not a significant amount to sway one's buying decision.

 

[dmoore22]

We debated between BWV and OKW. We went with OKW and never regretted the decision. We really enjoy the quiet resort atmosphere.

 

[JudyS]

Thanks to everyone for your insights! I've stayed (briefly) at OKW, and now have a ressie for December at BWV. It sounds like they are both nice; I might wait until I've stayed at BWV to decide which resort to buy.

 

[dianeschlicht]

Originally posted by JudyS
Thanks to everyone for your insights! I've stayed (briefly) at OKW, and now have a ressie for December at BWV. It sounds like they are both nice; I might wait until I've stayed at BWV to decide which resort to buy.

That is the smartest way to make the decision.

 

[JimC]

Happy anniversary!

All of the resorts are special. Each has unique theming, locations and other attributes that appeal to some more than others. But we have stayed at almost every resort on property (non-DVC included) and have had a fabulous time at all of them.

Since you asked about financial and reservation issues, here are my two cents. OKW is currently the largest resort and has been the easiest to book into (GV at certain times excepted). How this plays out in the future is anyone's guess, but at certain times of the year and for certain size units the owner's booking advantage is important.

OKW is the least expensive to own (lowest maintenance fees) and use (fewest points required). Needing fewer points can save on the total cost of points because you can buy a smaller contract. As to the cost of points, I am not sure that I agree with your impression that OKW is generally less per point to buy. The on-site resorts all seem to trade within a narrow range of prices based on ROFR, current list price, the size of the contract and its status (number of points in current year, banked and borrowed). Many of us would say that OKW should sell at a higher point cost because it respresents a better value (fewer points to use and larger units), others would respectfully differ.

If you give me your email address I will send you a spreadsheet that I use to evaluate different resale contracts. In my view the important number is the cost per point for the points acquired over the remaining term of the contract. That number when added to the maintenance fees per point is the true cost of owning that allows you to understand the value of using points either in DVC or elsewhere.

Good luck with your decisions and again Happy 10TH!!

 

[jmminarik]

Originally posted by JudyS
So, I'm leaning towards Boardwalk as my home resort, if I can find a resale that I like. Do people think my reasoning is right?
Judy S.

Your reasoning seems logical and your explanation articulate.

-Joe