Anyone extending their OKW contract?

[MELSMICE]

I'm sure this has been asked when the offer first came out, but my DH just asked me a question about it.

He wants to know what the "skuttle" is on "the boards" about people extending their contract. He is not so sure it's a great idea for us because we'll be close to our 80's by 2042.

Any thoughts either way on why you would or wouldn't extend your contract?

 

[JimC]

There are a number of threads covering this issue. A search should bring them up.

We are waiting for the next communication from DVC regarding the extension, which should arrive this week or next. After we digest that, we will decide.

 

[dianeschlicht]

The poll done on this board indicated that most of us will NOT take the offer. We will be mid 90's in '42, so we will not. I figure I'll be lucky if I make it to '42, so why do I want to go another 15 years? I am also reasonably sure our adult kids (who will be in their 60's then) wont care either.

 

[MELSMICE]

The poll done on this board indicated that most of us will NOT take the offer. We will be mid 90's in '42, so we will not. I figure I'll be lucky if I make it to '42, so why do I want to go another 15 years? I am also reasonably sure our adult kids (who will be in their 60's then) wont care either.

God willing, I will be 79 & DH will be 80 in 2042, so we are pretty much thinking the same as you.

 

[Laurabearz]

Not extending here either...

 

[Checkers]

We won't be extending either. Talked to our daughter who will be "elderly" by then and we (DH & I) will probably be pushing up daisies so it doesn't make much sense.

 

[mikesmom]

Not us either. By the time the CURRENT contract ends, we will be over 90, youngest DS (the WDW lover) will be 60, and his new born will be 35. Conceivably the baby could have Disney age kids at that point, If so, they can get something newer.

If the price was lower (by a LOT) it might make some sense for resale purposes. But for $15 - $25 a pint, it just seems silly.

 

[LIFERBABE]

http://www.disboards.com/showthread.php?t=1563551

Here's a link to the poll, please add your vote if you have not already

We will not extend either.

 

[Dman67]

The TUG boards have a rather spirited debate going on regarding this contract extension. Here's the link if anyone is interested...

Big DVC Changes

Dave

 

[OKW Lover]

The poll done on this board indicated that most of us will NOT take the offer. We will be mid 90's in '42, so we will not. I figure I'll be lucky if I make it to '42, so why do I want to go another 15 years? I am also reasonably sure our adult kids (who will be in their 60's then) wont care either.

We're actually thinking of doing the extension even though we probably won't be around then. We're doing it for our children, grand-children and yet to come great-grandchildren.

 

[disneymayz]

Currently I am 30 years old. I just bought resale 70 points in July. Total after all and done I paid $6000. Including dues (4% incress a year) I will be $1567 ahead of the game (based on todays room rates) in the year 2015. I will spend $1050 to extend and still in the year 2015 I will be ahead of the game. From 2015 to the end I will only be paying dues.

 

[Chuck S]

I'll be too old (or dead) by then, too...but thinking of doing the extension in case we want to sell our points later on (hopefully it will add some resale value) or to leave to whomever disposes of my remains.

 

[MELSMICE]

We're actually thinking of doing the extension even though we probably won't be around then. We're doing it for our children, grand-children and yet to come great-grandchildren.

After DH read some of the links that came up after doing a search he said there are some advantages to extending - one being it will be there for our kids & grandchildren.

So, it looks like it's up in the air for us right now.

 

[La2kw]

Nope. We will use the money that it would have cost us to extend to buy points at GCV and/or CRV instead. That way we get to use the points now, and not have to wait until 2043 to benefit.

 

[dianeschlicht]

Nope. We will use the money that it would have cost us to extend to buy points at GCV and/or CRV instead. That way we get to use the points now, and not have to wait until 2043 to benefit.

See, that was my thought too. I would rather use that "extension" money to buy more AKV.

 

[mvc1997]

We will do it!!!
We will long be pixie dust, but we will do it for our children, grandchildren, future great grandchildren, even great great grandchildren!! Our oldest grandchildren will be in 62 by then!!

We really like OKW! Bigger rooms, & many less points for the wonderful grand villas. Our children, & grandchildren have been really excited by the prospects of bringing their children & grandchildren to Disney continuing the tradition of family vacations at OKW!!

We will be in OKW for Thanksgiving this year. As a 40TH Wedding Anniversary gift and to show us HOW much they appreciate the DVC we will be leaving to them they are paying for a memory picture of all of us at Epcot.

It pleases us sooo much that they want to continue, and keep our memory alive!!
This is Priceless to us!!

 

[LIFERBABE]

See, that was my thought too. I would rather use that "extension" money to buy more AKV.

Me too and AKV and the DVC's that follow will have the longer extension date built in.

Now that the facts are out, Im even more sure that we will not extend.

OKW is selling on the resale market for $78-$82 per point.

DVC will begin selling their new 2057 contracts for $94 or $96.

So Im not losing anything by not extending. I can still sell for $78 and make a profit and there will be plenty of people out there that can benefit by owning a DVC that expires in 35 years. That's a lifetime that could span 2 more generations.

People will still try to get past ROFR with these shorter contracts priced in the low $80's and some may and some may not but the savings will be significient and still worth a try.

DVC will maintain its value and will always be worth a fraction of what a comparable Disney hotel stay is worth.

In 2040 if I was looking to go to WDW and someone was selling an 2042 OKW contract for $2,000 and it was going to cost me twice that to stay the same number of nights on cash, I would buy the OKW contract enjoy it for 2 years and throw it away like gift card when I was done

 

[Lampman]

You guys are assuming that Disney will allow the 42's to pass ROFR. I think they will ROFR them all and slap on the extention thus forcing the conversion as families exit the system (and making a nice profit in the process). I wouldn't be suprized if they could manipulate the price after Febuary of the 'enhanced' contracts to maintain the $25 price difference.

In fact that may make all the prices jump (in anticipation of other extentions).... and allow them to charge really big bucks for the CRV.....

 

[DVC-Don]

We are going to extend ours. We'll be gone or infirm by then, but plan on passing our two contracts on to our 2 children in a few years.

 

[OlderMan]

We were childless when we bought into OKW over 10 years ago--we did have our adoption paperwork in progress.

After adopting two daughters, AND moving from upstate NY (Saratoga Springs, to be exact) to FL, we still stay at OKW 2-3 times per year.

Our daughters are now 10 & 9 and, since they enjoy OKW as much as we do, we expect them to continue to vacation at OKW after we're gone, so, we will probably take the extension.

If our girls DON'T want OKW when they get older--after we're gone--then they can sell it themselves.