contract expiration and multiple contracts

[martin33]

Hi everyone,
Been following some great threads for awhile now, and it has been a wealth of information- thanks to all of you who contribute. I am at the point of looking to finally buy into DVC resale, I do have a couple questions I was hoping to get some owner feedback on as I make my way towards a potential purchase decison!

I was wondering what people's thoughts are of the deed expiration dates for OKW,BCV,VWL, BWV that all seem to expire in 2042. This is a consideration of mine when thinking of purchasing resale- not because I want to resell in 15 years, but what if my situation changed and I had to? Its only 29 years away- and if I am not concerned with an 11 month window for a resort, then would it not make sense to just go with a combo of cheaper(per point) and longer deed? I only ask as I would love to own at BCV (and pay more per pount there) but I don't know if it makes sense when I can buy elsewhere for cheaper for a longer contract? (Think of it as considering resale values when you buy a car?)

Does anyone think/know if they will extend contracts there? I see OKW is the only one but not sure how much they charged owners to extend?

And lastly- I see lots of recommendations for multiple, smaller contracts for various reasons- I see good points here, but my question is for those who say they have points at resort x, y, z, and then go on to say they now have access to the 11 month window at these three , does it not depend on how many points you have at each. My example would be if I bought 150 at BCV, and 150 at VWL- at 11 months , if I wanted to book an 8 day holiday in a 1 bedroom it would be , for sake of argument, 300 points. Can I book my whole 9 days (eg.300 points ) at one resort at the 11 month window(either BCV, or VWL) given I only have 150 at each?

Thanks in advance for any insight- I guess I'm just being cautious before the commitment.

 

[disneynutz]

I believe that you should buy where you love to stay. Problem is most new DVC owners don't know what they like yet. Some think that they can buy SSR and be happy there and some are. Later as they stay at other resorts, they may decide that they like BWV Boardwalk view as their number one fav. Problem is they can't always get it at 7 months so now they buy a add-on.

We own at 5 resorts for just that reason, added on as we learned about the different resorts, locations and amenities.

If you own a limited amount of points at more than one resort, you can bank and/or borrow to double your available 11 month points every other year.

Bill

 

[staceymay00]

You can only book using home resort points at the home resort at 11 months. You can't use points you own at a different resort to book at 11 months even if you own other points where you want to book, but you can bank and borrow to have enough points to book an entire stay. If you decide to buy at two different resorts, you'll need to stay every other year at each resort, or book a split stay at both resorts with your 11 month window and hope you can switch at 7 months out. Or split time between two resorts during one stay.

We own 2042 OKW points (purchased 3 yrs ago) and I actually like that they expire then, We will be in our 70's and who knows if our kids will want the points (with the annual MFs that need to be paid). I figure if we want more years we'll extend (if given the option) or buy another resort with a later expiration date.

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[disbound09]

Decisions Decisions I would go for the at least 250 and split them at two.

 

[lovin'fl]

I agree with splitting into smaller contracts. One thing, smaller contracts are easier to sell (in case you would need to later on) and if you find, down the road, that you don't need as many points you can sell off one contract. We initially bought 200 OKW points and then added on 75 HH and are now adding on 100 AKV...knowing what we know know, I would have 100 points at BWV (to book standard view at one of our fave resorts..we like Epcot resorts), 100 at AKV (to book value or standard view for trips with inlaws) and 100 at HH (to alternate WDW trips with beach trips and save on park tickets and airfare every other year). We also plan to gift our points to our 3 kids someday...any by that I mean that we will let them use them but still pay the MF on them (I am assuming)...we will be about 68 when the 2042 points expire and our kids will be 45 and 43 and 43 (my inlaws are about that age and still going to Disney, with our points that they paid us to use, but I think their trips there are winding down so I think we will be fine with the 2042 expiration and we'd still have the AKV points). If my kids have their kids young (like I did) then my grandkids will be past the Disney stage by 2042 and if my kids have little kids still, then we could always add onto our AKV points (or buy an extension if offered). Heck, we might sell all our points by then. I think there's just too many variables to consider expiration when buying into DVC and I think you should just buy where you want.

 

[a742246]

Thats the beauty of banking and borrowing points. You can turn a 150 point contract into: 150, 300, 450 points. So if you have two contracts of 150 pt each, you can bank one contract and borrow from the other.

 

[chalee94]

Its only 29 years away- and if I am not concerned with an 11 month window for a resort, then would it not make sense to just go with a combo of cheaper(per point) and longer deed? I only ask as I would love to own at BCV (and pay more per pount there) but I don't know if it makes sense when I can buy elsewhere for cheaper for a longer contract? (Think of it as considering resale values when you buy a car?)

if you'd only be happy staying at BCV, buy there and book at BCV at 11 months out. if you're happy staying at SSR, buy there and be happy that the expiration is 12 additional years out...book SSR at 10-11 months out and try to get BCV at 7 months - you win whether you get BCV or not.

if you save money by buying SSR but are frustrated at the 7 month window a few times trying to get other resorts, will you still be pleased that your SSR contract runs to 2054? only you can say...

i know a number of SSR owners bought into SSR with the notion that they didn't ever have to stay there...and that won't work mathematically.

BCV - 36 Dedicated Studios - 20 Dedicated 1Bdrm - 78 Dedicated 2Bdrm - 74 Lockoffs - 0 Grand Villas = 208 Villas / 282 Max. Available

SSR - 0 Dedicated Studios - 0 Dedicated 1Bdrm - 360 Dedicated 2Bdrm - 432 Lockoffs - 60 THV - 36 Grand Villas = 888 Villas / 1320 Max. Available

Does anyone think/know if they will extend contracts there? I see OKW is the only one but not sure how much they charged owners to extend?

$25 per pt. that amount was discounted down to $15 per pt if we acted quickly.

still seemed like a lot for pts that wouldn't show up for 30+ years, so most OKW owners (including me) passed on the extension.

there were some fine lines on the legal side as well, with a few owners taking issue with the fine print on the contracts and demanding a free extension...so a few owners are holding out to see if disney really wants to go to court over it. (another reason i don't expect to see another extension any time soon.)

one other issue with extending other DVC resorts was that OKW is a standalone resort. VWL, BCV and BWV are not - in order for DVC to extend them, they would need to get approval from the hotel side (WL/BC-YC/BWI)...so it would be necessarily more complicated. if disney hotels decided to change WL into an asian-themed resort, for example, that would impact what DVC can do with VWL...

but if DVC did offer a BCV extension, i can promise you it won't be reasonably priced...

my question is for those who say they have points at resort x, y, z, and then go on to say they now have access to the 11 month window at these three , does it not depend on how many points you have at each.

they mean they have 11-month access for each individual contract. at 11 months out, a BLT contract and a SSR contract are still treated separately and an owner cannot combine pts to book BLT, for example. if i own 50 BLT pts and 200 SSR pts and want to book BLT at 11 months out, i can only use BLT pts from that 50 pt BLT contract...the SSR contract is on the sidelines till the 7 month window except for booking SSR.

here's more reading material if you are curious about contract expiration:

http://www.disboards.com/showthread.php?t=2960343

 

[chalee94]

Thats the beauty of banking and borrowing points. You can turn a 150 point contract into: 150, 300, 450 points. So if you have two contracts of 150 pt each, you can bank one contract and borrow from the other.

i think this confuses some newbies into thinking that if i bank my SSR pts, i can use them at BLT at 11 months out, so let me clarify that we are still talking about distinct home resort pts.

you can book BCV at 11 months out with banked BCV pts, current BCV pts, borrowed BCV pts or BCV pts transferred in from a BCV owner, but they have to be BCV pts to book BCV at 11 months out (and the same is true for other resorts.)

 

[martin33]

Huge thank you to all of you for some really great insight. I think the biggest thing I learned was the "duble down" effect for banked or borrowed points at the resort you own at. Now I get it as to how people go on vacation owning 150, simply borrow into next year to double, and repeat for the other resort the next year. Now all I need to do is figure out whether to go for resort of choice (with exp 2042), or longer contract at second or third choice, and accept the 7 month window. As many of you have said before (with good argument) that can only really be decided by the individual!
Thanks again guys,

Cheers
Martin

 

[DannysMom]

After much discussion along these lines, DH decided he really liked the BCV location. It was worth it to him to be able to definitively stay there when he wanted to. So we bought BCV points. I would have been happy with (a few more) SSR points, but after staying there, DH was not crazy about the location. (DTD has never been a huge draw for our family.)

I agree that only you can make that call for your family.

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