Anyone own a very small contract only?

[Sammy]

As most of you know, we are in the process of selling our DVC contract. Someone suggested the possibility of purchasing a small add-on through Disney before our contract actually sells. We could then remain "members" with only a little cash output until we could perhaps come back some day and purchase a larger contract.

Is there anyone out there who owns only a very small contract.....like 25 points or so....and that's all they own? I'm looking for pro's and con's to doing this....? It's $91/point for an OKW add-on thru Disney, so 25 points would be $2275 with dues approx. $100/year. I'm just looking for any experiences or thoughts you may be able to share.

Thanks!
Sammy

 

[JimMIA]

Yes, there are a number of people who only own small contracts. Many bought them as a less-expensive way of getting in the system, intending to add on gradually as their finances make it comfortable to do so. Once you're in, you're in...and can add on in 25-point increments if you want to.

Keep in mind that, with banking and borrowing, 25 points is still a 75 point ressie every third year.

I think you'd have to weigh the cost of using the points vs. the cost of renting points to get an accurate picture of whether maintaining a small contract is worthwhile in your particular case.

Or, since the cost of going to WDW far outweighs the cost of ownership, you could rent your points until such time as you were able to resume normal vacationing.

 

[mamatojon]

As most of you know, we are in the process of selling our DVC contract. Someone suggested the possibility of purchasing a small add-on through Disney before our contract actually sells. We could then remain "members" with only a little cash output until we could perhaps come back some day and purchase a larger contract.

Is there anyone out there who owns only a very small contract.....like 25 points or so....and that's all they own? I'm looking for pro's and con's to doing this....? It's $91/point for an OKW add-on thru Disney, so 25 points would be $2275 with dues approx. $100/year. I'm just looking for any experiences or thoughts you may be able to share.

Thanks!
Sammy

We have two contracts and in a year are probably just going to sell one of them, but I have considered doing just what you are suggesting - probably more like 50 points though. I think it is a great idea, you could still get away to WDW every few years even if you borrowed/banked - and qualify for add-on pricing and incentives when you want to buy more. Good luck with your decision!

 

[Dean]

You may have seen my post this is my exact plan. While I will likely go with in the 50-75 pts range, I am still considering simply 25 points. Then I will sell the rest is the current plan. I can exchange in during times we can go and in a unit size that works for us (1 BR). We get all perks except those that are stay specific. We can rent for transfer points if we need a larger amount. I am also going to add my daughter, possibly my son and may even my sister and brother to the new smaller contract one way or another so they get the perks also.

 

[NJOYURLIFE]

I really enjoy our 25 point contract. We owned previously and then sold and we were not owners for about a year. We then had a sort of hard time getting back into the system because we were considered non members looking for a small point contract. In hindsight, I wish we had purchased a small contract BEFORE we sold the other one.

We are lucky to be able to use other timeshares to trade into DVC when we want to since we travel during non peak times. But by being owners, even small point owners, we get all the benefits like the annual pass discount and the ability to attend the member parties like the summer block party. We also received the recent 15th anniversary mailing and a separate mailing yesterday that was to encourage the current price incentive. It was a beautiful Cinderella blue box that had beautiful postcards in it.

Owning a small contract has definately worked for us.

 

[monami7]

We have 50 points. We love our points but I do plan on uping the points as soon as we can afford it. Goodluck.

 

[disneybass]

Yes, I just closed on 50 OKW points @ $88 pp. Works out great for us as I can only get off for 1 week a year at this point.

 

[Sammy]

Thanks to everyone so far for all the good feedback. After discussing it with DH, we both agreed we are not ready to cut the ties completely, and want to go ahead with a 25 point contract for now. I'm worried about the timing with the sale of our main contract, however. My guide had an OKW contract available immediately, but we also already have a buyer for the BCV contract (although we have not sent any paperwork back to the broker yet). What's the timeframe for closing on a direct-from-Disney contract?? I don't want to complete the sale before the add-on goes through....

 

[lisaviolet]

As most of you know, we are in the process of selling our DVC contract. Someone suggested the possibility of purchasing a small add-on through Disney before our contract actually sells. We could then remain "members" with only a little cash output until we could perhaps come back some day and purchase a larger contract.

Sammy,

I think that this is excellent advice. Especially since you stated in your other post that you want to be a member again one day. This strategy allows you to stay in as a member and when your situation changes well so many options at that point. Meanwhile you have the special discounts and incentives of the DVC program. Smart.

That's nice. After reading about your situation....well....it's giving me a big smile to think about this possibility for you!!!

All the best to you,

Lisa

 

[Sammy]

Sammy,

I think that this is excellent advice. Especially since you stated in your other post that you want to be a member again one day. This strategy allows you to stay in as a member and when your situation changes well so many options at that point. Meanwhile you have the special discounts and incentives of the DVC program. Smart.

That's nice. After reading about your situation....well....it's giving me a big smile to think about this possibility for you!!!

All the best to you,

Lisa

Thanks Lisa! The more DH and I thought about it, the mre we realized we could benefit from even a small contract. We were already talking about renting points if we had to, so now we'll still be able to do that....but with all the benefits of being members as well.

 

[chatchdvc]

I did something similar this past April.

I decided to sell my original contract and put it up for sale. But when I heard that there was an actual buyer I panicked at the thought of having no points at all. I bought 55 points the next day through my guide. That contract was in the system almost immediately, I think. As long as you put down $500.00 on a credit card, the points are put into your account. Then the rest of the paperwork takes a couple of weeks.
Hope that helps.
Good Luck

 

[cobbler]

Good luck to you Sammy. After seeing how badly you wanted to remain owners I think this is a great step towards that.

Pixie dust to you.

 

[Beca]

Sammy,

The points you buy via DVC will be processed IMMEDIATELY. The contract you are selling will probably take a week to even GET to DVC. Then, it will sit in ROFR for awhile. It will probably take a total of 8 weeks to process and close.

So...go ahead and buy that contract, and you will always be "in the system", and keep your original member number.

 

[spiceycat]

if you get 40 points - you can stay at OKW 5 nights - Jan, Sept, Oct, most of Nov & Dec. In a studio.

 

[Sammy]

Sammy,

The points you buy via DVC will be processed IMMEDIATELY. The contract you are selling will probably take a week to even GET to DVC. Then, it will sit in ROFR for awhile. It will probably take a total of 8 weeks to process and close.

So...go ahead and buy that contract, and you will always be "in the system", and keep your original member number.

Thanks, Beca! I went ahead last night and purchased a 25 point OKW contract. My guide said points would be available by Monday, so I guess that's pretty immediate! In talking with the timeshare broker today, she mentioned the same thing about it taking several weeks for the sale to even hit the system. So I guess we will be ok on that end.

I just want to thank everyone again for all the advise, hugs, and warm wishes through my multiple rantings this week!

Sammy

 

[dianeschlicht]

Sounds like the perfect solution for you at this time.

 

[keishashadow]

Glad it worked out for you .

JMHO, but (several) small contracts seem to be the best strategy for us since we want the 11 month window when we book. Thru banking & borrowing, we just need 1 more resort to make it work effortlessly.

Think it's a good idea to hold onto a min. contract even if you're not currently sure of future plans. Who knows if they'll change the rules for min. buy-ins in the future...certainly would make the smaller contract's value increase.

 

[lisaviolet]

Thanks, Beca! I went ahead last night and purchased a 25 point OKW contract. My guide said points would be available by Monday, so I guess that's pretty immediate! In talking with the timeshare broker today, she mentioned the same thing about it taking several weeks for the sale to even hit the system. So I guess we will be ok on that end.

I just want to thank everyone again for all the advise, hugs, and warm wishes through my multiple rantings this week!

Sammy

Fantastic Sammy,

It gives such a different feeling to everything that you've had to decide on in the last little while, eh? I mean I know such decisions, with your original contract, are difficult and stressful. But you are still a DVC owner. Love it. I'm so glad someone mentioned this possiblity to you.

All the best to you and your family,

Lisa

 

[spiceycat]

very glad it worked for you!!! and you still get to be DVC members

 

[NJOYURLIFE]

Sammy,
I am glad it all worked out for you.

Lisa