Contracts- how long should I buy in for??

[Ln42]

Hi and thanks for the help,

We are getting closer to purchasing a DVC. DH and I are 42, have one child age 9.

Tell me why I should/shouldn't buy a contract that lasts til 2042 vs 2057.

My thinking... I will be 74 at the end of 2042 and probably nearing the end of my travelling days. Orlando is a 3hr flight away for me where I live now. Why would I want a contract that goes 15 yrs past that age? What should I consider?

Thanks for your all of your insights!

 

[wbl2745]

My wife and I just purchased in the Villas at the Grand Californian, which expires in 2060. I would be 106 at that point. Our thinking on this has been that when we don't want to travel any more, we'll sell the membership. We have three daughters and I can't see the three of them trying to "share" the contract and the jointly pay the yearly dues.

So regarding your point, I'd consider when you anticipate not wanting to travel and buying a contract that meets that date. I would not assume that your child would want to take on the contract.

 

[Sandisw]

I think you should buy a contract at the resort that you really want to stay and not worry about the expiration date of the contract.

We bought BLT because that is where we want to stay when we visit WDW. If we decide to try other resorts, we will (staying a few nights at BCV next summer to try it out) but we know that when we make our reservations at the 11 month mark, we can stay where we love. The fact that it lasts until 2060 was a bonus.

Had we been interested in a resort that ended in 2042, we would have bought that instead.

2042 is still 32 years from now and who knows what the future holds.

Good luck!!!

 

[staceymay00]

We picked an OKW 2042 contract because that is what I found on the resale market meeting our desired points and use year. Had I found an extended OKW 2057 resale contract I would paid a little more for it, but not much more. I thought about SSR since it would give us more years, but I think OKW will be a better fit for our family so that is where I want to own.

DH and I will turn 72 in 2042. As much as I love WDW, I think we will have had our fill of WDW every year by then. Our three kids will be late 30s/early 40s then. Maybe one or more of them would want to take over our contracts, or maybe we would pay MFs and give them the points every year, but who knows. By then they should be able to pay for their own vacation club if that is what they want (mean mom, aren't I?). I'm not going to base my decision now on what we might do in 2042.

 

[cvjw]

We just recently bought into DVC and I am 42 and DH is 45. Our kids are 10 and 14. We bought the resorts that we love. They all expire in 2042. We will be in our 70's by then. We decided that if we still enjoy Disney like we do now, and if the kids, and hopefully their kids, still love it, we will just buy another contract to enjoy after 2042.

 

[OKW Lover]

We actually did the OKW extension to 2057 and I'm pretty sure that neither of us will be around then. We did it for our children and grandchildren.

 

[disneynutz]

Buy where you love to stay.

Bill

 

[wdwnut]

Buy where you want to stay! The only options when we bought were OKW and BWV- both expiring in 2042. We bought and added on to have equal shares to split between the kids/grandkids. There was a thread about "geriatric" DVC on the boards about 10 years ago; planning what we would do in our 80,90,and 100+ years.

 

[dmoore22]

Hi and thanks for the help,

We are getting closer to purchasing a DVC. DH and I are 42, have one child age 9.

Tell me why I should/shouldn't buy a contract that lasts til 2042 vs 2057.

My thinking... I will be 74 at the end of 2042 and probably nearing the end of my travelling days. Orlando is a 3hr flight away for me where I live now. Why would I want a contract that goes 15 yrs past that age? What should I consider?

Thanks for your all of your insights!

Unfortunately I do not have a crystal ball. When we bought into DVC the only option was 2042. Then DVD offered an extension at $15 a point which, depending on what you paid initially may or may not appear to a good deal. For us we figured we could buy more points rather than the extension thinking in the present tense. In our situation we would be in our nineties in 2042 and pushing 108 in 2057. We have six children who have different levels on interest in Disney so the idea of leaving a legacy or inheritance is not really a realistic mindset. In our situation the kids are better off deciding whether they wish to buy into DVC for their own families. We ahve provided them with an experience, now its up to them to decide if this is something for their lives after mom and dad have gone to that theme park in the sky. I know I've not been much help but, to quote the Bible "Let us eat and drink; for tomorrow we shall die." (Isaiah 22: 13).

 

[bobbiwoz]

We bought in 2003 because I had asked DMom how she wanted to celebrate her 85th birthday and she replied "In Disney!" We had a great time, and she travelled to WDW until she was 88.

I believe in buying where you want to stay most of the time!

Bobbi

 

[robertdangelo]

We bought BCV initially, because we love the resort.(expires in 2042) We added on at BLT last year.(expires in 2060) We're in our 40's and our DD will inherit what we don't use.

Bob

 

[RCM]

Hi and thanks for the help,

We are getting closer to purchasing a DVC. DH and I are 42, have one child age 9.

Tell me why I should/shouldn't buy a contract that lasts til 2042 vs 2057.

My thinking... I will be 74 at the end of 2042 and probably nearing the end of my travelling days. Orlando is a 3hr flight away for me where I live now. Why would I want a contract that goes 15 yrs past that age? What should I consider?

Thanks for your all of your insights!

We bought SSR 277 in 2004 for 2054 @ the age of 56 and have just added another 50 pts. Our grand kids will be in their 50's! What else could we leave that our great grandkids could be using and having fun? We will be there in June with all 5 children & 7 grandkids and loving every second!

We plan on leaving enough money to cover the fees until 2054 so all they will have to do is enjoy.

 

[snowhyte]

We bought SSR 277 in 2004 for 2054 @ the age of 56 and have just added another 50 pts. Our grand kids will be in their 50's! What else could we leave that our great grandkids could be using and having fun? We will be there in June with all 5 children & 7 grandkids and loving every second!

We plan on leaving enough money to cover the fees until 2054 so all they will have to do is enjoy.

WOW!!!! That is an awesome gift!!!


I agree with others who say buy where you love. We didn't think twice about the end date when we bought VWL. If we think we want something that lasts longer, we'll add on somewhere else with a longer "life".