What happens when the contract is up?

[basketlacey]

we've stayed at DVC resorts on our last two trips. One was booked direct with an AP discount (OKW) and I rented points to stay at VWL this summer. I've never really considered buying in. But I'm exploring the resale market a bit because we really enjoyed the bigger rooms.

We're a family of 5 so I'm trying to make sure I understand what our best options are since not all resorts have studios or even one bedrooms that sleep 5.

Anyway, one thing I don't understand is the contract expiration. What happens then? You are just done and you'd have to buy back in?

 

[HookdonWDW]

No one knows for sure, because it's never happened yet, but that's pretty much it. Whether they will extend (ala OKW) or just refurb and start new leases from scratch, no one knows (or has admitted to knowing).

 

[magicaldisney]

OKW is the first resort that will expire. They offered an "extension" of years for the OKW contracts a while back, but I don't think that was as popular as they would have liked. My guess will be we won't see that offered again.

 

[lovin'fl]

Yeah, you buy a contract and pay annual dues until the contract expires. They did offer extensions for OKW at $15pp or something like that (then increased it to $25pp). It didn't go well. We own OKW and didn't buy the extension. However, it has been discussed that the new DVC plan to add more DVC rooms at already existing resorts and if that will bring contract extensions. IE: they are about to start construction on VWL to add more DVC there and folks wonder if they'll then extend the contract life (as most folks wouldn't want to pay the 'buy new direct' rates of $165pp for a resort that has a short life left). We are waiting to see what they do.

As far as rooms for 5: some studios allow 5 (like BWV pool/garden view). ALL 1BR villas allow you to have 5 (though only a few have the extra sleeper chair to sleep 5 and the resorts that don't you can bring air mattress).

 

[chris springer]

I'm not sure which will expire first.....me or the dvc membership! So, we really didn't give it much thought.

as a side note my wife and I just purchased a resale OKW and were pleasantly suprised when we saw that it was the extended contract!

 

[chalee94]

Anyway, one thing I don't understand is the contract expiration. What happens then? You are just done and you'd have to buy back in?

what happens when you lease a car?

you pay an upfront cost. you pay to wash and maintain it. at the end of the contract, it goes back to the dealer.

(you may or may not have an option to buy it back. if DVC gives you the option to buy back into a DVC resort after contract expiration, i suspect the price will be substantial. most of us OKW owners thought that extension price was too high.)

not sure how appealing a 50-year-old building will be at expiration anyway. it might need significant refurbing/re-theming/rebuilding to meet changes in laws or customer demand at that time.

However, it has been discussed that the new DVC plan to add more DVC rooms at already existing resorts ***will*** bring contract extensions.

i think saying it "will" bring extensions is overstating the case.

it bears watching. it is possible. but it's a long way from a sure thing.

We're a family of 5 so I'm trying to make sure I understand what our best options are since not all resorts have studios or even one bedrooms that sleep 5.

AKV, BLT and OKW 1BRs all have the sleeper chair and pullout sofabed to sleep 5 (and AKV-kidani and BLT have an extra bathroom that can help manage 5 in the room.)

i would think over time that 5 in a studio would seem unbearably cramped - many timeshare owners with families of 5 draw the line at a 2BR, but i get that DVC prices mean that 2BRs are too expensive for many.

 

[basketlacey]

Thank you for the insight. We hopefully won't be done vacationing in 2042 or whenever the contract would be up so I'm just trying to make sure we think it through.

AKV, BLT and OKW 1BRs all have the sleeper chair and pullout sofabed to sleep 5 (and AKV-kidani and BLT have an extra bathroom that can help manage 5 in the room.)

i would think over time that 5 in a studio would seem unbearably cramped - many timeshare owners with families of 5 draw the line at a 2BR, but i get that DVC prices mean that 2BRs are too expensive for many.

We had a 1 bedroom at VWL (rented points and brought an air mattress). It was the perfect size although the sleeper chair would have been nice so we didn't have to deal with the extra suitcase. We are doing 4 nights at YC in a garden view room in October so we are used to being 5 in a room but the extra space (and door) of the one bedroom was really great.

Eventually I see us wanting a two bedroom, especially so we can add a 6th or 7th person. But the points are sooo high on the two bedrooms! Buying resale certainly helps with wanting that many points. The DVC rep at WDW who I talked to for about 10 min suggested 150 points. But when I got the material in the mail showing the point charts, 150 points really doesn't do me much good.

 

[lovin'fl]

We started with 200 points and went up to 505 points but recently sold some and now have 405. We really stretch them out. We have been getting a 2BR since my 3 kids are teens and need more space (and another bathroom). My DS-18 is in his first year of college and told us he wanted to skip the WDW trips for a while so we'll go back to getting the 1BR. The points really do go farther with a 1BR. To go back to contract end date, SSR and AKV can be bought for a good price and have later end date.

 

[JWG]

I stop paying dues!