Just purchased 22 square feet of OKW!

Discussion in 'DVC-Mousecellaneous' started by BuffaloJim, Feb 27, 2013.

  1. BuffaloJim

    BuffaloJim Mouseketeer

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    Well, actually we bought 220 points, but the way it works out at OKW, each square foot costs almost exactly 10 points, so in reality we purchased 22 square feet of living space. For those so inclined, the math is at the bottom of this post.

    We passed ROFR yesterday at $57 per point. The seller was asking $58 and I was willing to pay it, but the sales rep talked me into offering slightly less. Actually I was willing to pay up to $60 a point for somewhere around 200 points. What I really did not want was to offer a low amount, have it accepted, and then have Disney ROFR it. I’ve made the decision to purchase DVC, I did not want to have to spend multiple months, and go through several ROFR processes to do it. Now if I was buying an add on, things would be different. I would be willing to put in a low bid, and if it got refused or ROFR’d, who cares. I would just attempt to buy another property. But for the first one, I wanted to buy it now and not have to wait.

    A few random notes about our purchase and why we chose OKW…

    OKW has reasonably priced grand villas. We’re a big family, and I would like to stay in a grand villa eventually. OKW seems to be the only WDW property we could occasionally afford with 220 yearly points. And when I decide I want to stay in one, I don’t want to have to wait until the 7 month mark and hope they’re still available.

    I wanted a property that expired in 2042. I’ll be 79 then, and though I expect to be in decent shape and still vacationing, I won’t have to worry about what to do with the property – I just won’t own it anymore.

    I have a feeling that over the long haul, the annual dues at OKW are going to remain more reasonable than some of the other properties. I have little hard or even empirical data for this, it’s just a gut feeling.

    I like OKW. We’ve never stayed here, but it looks nice, the foliage is fully grown, and the rooms are very large. And like I said we’re a big family; normally we’ll be staying in a 2BR. Of course, we probably won’t always stay at OKW – I definitely want to mix it up. As it stands now, the only villas we stayed at are at AKV, which I also like. But AKV expires in 2057 and I think the care for the animals will eventually drive the dues up.

    When my wife and I honeymooned at WDW in 1994, I think the price of DVC (OKW) was about $60 a point. Amazingly, that’s the price it still is. We probably should have purchased then. But I was newly married, starting a new job, and completely unsure of our finances. Well, we missed out on 20 years of DVC, but it’s nice to know that the bottom hasn’t dropped out on the price of resale DVC properties over the years.

    I wanted a December UY. I think we’ll often be traveling over February break while the kids are in school. And eventually, my wife and I will probably be there in the winter. So December works well. In addition, the December UY allows us to use 4 years worth of points during the week after Thanksgiving. This could be needed when we’re renting a GV, and Thanksgiving is when I’d like to bring my BIL and his kids.

    I expect to often have a car with us when we’re here with the kids, so OKW’s more “condo-like” construction with nearby parking is actually a bonus.

    My ideal purchase would have probably been 160 points at OKW (Dec UY) and 50 at BWV (Oct UY). I’d still like to eventually do a small add on at BWV, but I can wait – I’m in absolutely no hurry.

    The bottom line is we’re happy with the purchase and looking forward to spending numerous vacations at WDW over the next few decades.

    Now I just have to figure out exactly where our 22 square feet are.

    ******************

    There are a total of 7,678,935 points allocated to OKW. There’s also 771,315 square feet of living space. This equals 10.0 points per square foot. The square footage breakdown is as follows: 274 2-bedrooms at 1410 sq ft, 230 lockoffs at 1395 sq ft, and 27 grand villas at 2375 sq ft. I got the square footage numbers from the DVC Resources Center stickie. Other sites give slightly different figures, but they don’t really change the points per square foot value.

    For those interested, the other WDW properties are as follows: BLT-16.3 pts/sq ft, BWV-16.1 pts/sq ft, VWL-15.9 pts/sq ft, SSR-15.2 pts/sq ft, BCV-15.9 pts/sq ft. I did not figure out AKV because of the huge variances in the number of specific types of rooms and their square footages. I spent less than a total of 10 minutes figuring out all of these, but doing AKV would have required significantly more work. A really quick estimation seemed to show that AKV was probably around 15 pts/ sq ft. It’s not surprising that OKW is the lowest, but what is surprising is that all of the other DVC resorts are approximately the same number of points per square foot. None of this, by the way, had any bearing on my resort decision. I calculated these values while I was in ROFR.
     
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  3. Illini Al

    Illini Al Mouseketeer

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    :) Nothing gets past you!

    Congrats and enjoy your 22 sq ft.
    If I'm ever there using it when you're not, I'll keep it clean. :thumbsup2
     
  4. MickeyFan612

    MickeyFan612 Mouseketeer DVC Gold

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    congrats on your 22 sq feet=)
     
  5. heynowirv

    heynowirv DIS Veteran

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    WOW!!!! That means i own 19 sq/ft OKW and 5.6 sq/ft of SSR !!YAY!!!!:cool1:
    thanx BuffaloJim
     
  6. a742246

    a742246 And, and, and I caught a fish this big!

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    You are really going to enjoy OKW. Good luck on your 22 sq feet!
     
  7. DizBub

    DizBub Totally Addicted

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    This is fun!!

    We own 50.53 square feet at BLT and 25.44 square feet at BCV.
     
  8. cfw213

    cfw213 DIS Veteran

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    Fun thread! I own a whopping 10.5 square feet at SSR!
     
  9. rmcildw2m

    rmcildw2m DIS Veteran

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    kinda neat way to think about things .
     
  10. WebmasterDoc

    WebmasterDoc Administrator Administrator

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    Your deed will be reflected in terms of ownership at a specific "unit". When OKW opened, a "unit" was a specific building and your ownership will be described as a precise component of that "unit". If your "unit" #34, you own a percentage of Building 34. The percentage could be a storage area, stairway, foyer, laundry room, Master BR or any other area of that specific Building ("unit").

    The % may actually vary at other resorts although the percentages are all based on square footage, most of the other Resort "units" may not refer to a specific building.

    Welcome Home! :)
     
  11. Pirate Granny

    Pirate Granny DIS Veteran

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    We bought same amount of points so we could do GV also...it will take my dec 2012 points banked into DEC 2013 and borrow 2014...for our stay in June 2014...which is why we added on at the BCV so we use those points for our 'other stays', for just hubby and I.
     
  12. mlittig

    mlittig DIS Veteran

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    Congrats :woohoo:
     
  13. luckyman_apd

    luckyman_apd DIS Veteran

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    Darn it.....I only own 7.66 sq ft at BLT
     
  14. ABE4DISNEY

    ABE4DISNEY DIS Veteran

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    :welcome: Home!!!
     
  15. MinnieVanMom

    MinnieVanMom DIS Veteran

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    We also bought a resale before the new rules and we picked OKW because of the mature foliage and large room, also at that time it was the lowest point usage. We started with a mere 190 point so every one of them we value. We like to feel like we are in Florida, not upstate NY, but Florida, Jimmy Buffet, old large trees and boats to DTD.

    I am happy that others don't like OKW very much, all the more for us to enjoy.

    Congrats on your 22 sq feet and welcome home.
     
  16. 1153rsmith

    1153rsmith DIS Veteran

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    You will love OKW. We are RCI owners but we have exchanged into OKW twice in the past few years. Also, my wife and I stayed there on our honeymoon in 1995 when it was called the Disney Vacation Club. (I wish I had sat through a sales presentation and bought then.)

    The staff there is fantastic, the rooms are the largest of any DVC resort, and the grounds are beautiful. I really like being able to park at my front door too.

    We hope to one day own DVC, and OKW will definitely be on the list to consider.
     
  17. staceymay00

    staceymay00 DIS Veteran

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    We bought OKW a few years ago for some of the same reasons you mentioned. We love it there, and I'm sure your family will as well based on your post.

    Sent from my iPad using DISBoards
     
  18. Husurdady

    Husurdady DIS Veteran

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    :cool1: WE will be there [OKW] in 6 weeks and 6 days can't wait. will be there for 9 nights, can't wait to break-in that new DVC discounted P A P, If we plan our vacations right,we hope to use that pass about 21 times in a year. :thumbsup2
     
  19. Judique

    Judique Dis Veteran, Beach Lover at BWV, BCV, HHI, VB

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    I am also happy to have mine expire in 2042!

    I own a few more square feet and at several resorts, but all expire in 2042.
     
  20. Simba's Mom

    Simba's Mom <font color=green>everything went to "H*** in a ha

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    Wow, now I'm really excited! I'd figured that for all our points, we maybe owned a doorknob. But it seems we may own something more, oh-except they're at 3 different resorts. So at BCV, we're still only slightly more than a doorknob!
     
  21. BuffaloJim

    BuffaloJim Mouseketeer

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    OK, we received the deed today, and apparently we own the mechanical room of building 47. So, if you're having problems with the hot water while you're staying there, let me know and I'll put my best man on it.
     

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