BCV - contract extensions possible???

[wroth3]

We already own at the AKV and are debating adding a second home resort. We really like the location of the BCV and am wondering two things:

1. Is there any rumor about contract extensions at the BCV, similar to OKW?

2. If you own a resale contract at BCV, are you automatically entitled to buy an extension if it is offered?

Thanks!

 

[Deb & Bill]

There is nothing from DVC currently about extending the other resorts. For the OKW extension, all OKW members were offered the extension.

 

[disneynutz]

We already own at the AKV and are debating adding a second home resort. We really like the location of the BCV and am wondering two things:

1. Is there any rumor about contract extensions at the BCV, similar to OKW?

2. If you own a resale contract at BCV, are you automatically entitled to buy an extension if it is offered?

Thanks!

I reality too many people focus on contract length. Very few of us will live long enough or want to go on a WDW vacation for 40 or 50 years.

The DVC rules can change as Disney sees fit. Usually the reason for change is to increase Disney's profit and no one can guess for a certainty what they will do next. If a billionaire offered to buy Disney, then we would be owners in the Billionaire Vacation Club.

That being said, if extending contracts increases Disney's profit, then you can bet that other extensions will be offered.

 

[johde]

This is completely speculation but, I would think we would see BWV, and VWL extended first. Given the staggered expirations for SSR, AKL, and BLT, I would think they would stagger the extentions of the 2042 resorts and offer different expiration dates, probably extendending then to 65 years total.

 

[Dean]

Like OKW, it's likely that any extension offered will not be a value financially. I'd buy it resale and use it if you want to stay there routinely. Otherwise I think a later expiring contract will offer more value in general.

 

[janni518]

I reality too many people focus on contract length. Very few of us will live long enough or want to go on a WDW vacation for 40 or 50 years. The DVC rules can change as Disney sees fit. Usually the reason for change is to increase Disney's profit and no one can guess for a certainty what they will do next. If a billionaire offered to buy Disney, then we would be owners in the Billionaire Vacation Club.

That being said, if extending contracts increases Disney's profit, then you can bet that other extensions will be offered.

Yes, but many of us have children and grandchildren w plan on leaving our DVC to.

 

[Dean]

Yes, but many of us have children and grandchildren w plan on leaving our DVC to.

Plus there is an inherent value to the longer contract. The question becomes the relative value vs cost of each component. From a $$ standpoint, extending OKW was a poor choice. But that's partly due to the relatively low value compared to other resorts and the difference in resale prices compared to the other resorts. One can bet the difference in resale prices will not be $15 per point for some time to come for 2042 contracts vs 2057, just look at the difference between OKW and SSR resale prices, not that much. For resorts like BCV, BWV & WVL the same thinking may or may not hold true, but it will not be as much a no brainer from a $$ standpoint as was OKW. And it is a different decision to a degree for smaller vs larger contracts.

 

[CarolA]

Yes, but many of us have children and grandchildren w plan on leaving our DVC to.

Why? You are leaving your children and grandchildren a "liablity". In 40 years or so the value of an asset that expires in 10 to 20 years is going to be very small. The EXPENSES associated with this "legacy" may even be a burden on your family members.

The assumption is that your children and or grandchildren will want to vacation as often as Disney as you do (after you aren't paying LOL!) That might not be valid.


Even with a 15 year extension I expect the 'resale' market to be pretty weak. I did not extend my OKW. My assumption is that by the end of a contract period on ANY of them you won't be able to give it away!

Yes, Disney will come up with DVCII and allow your family to "buy" new points at a discount which by that time will be what $1,000 a point? But what if they don't have the cash or don't want to spend it on Disney?

IMHO a timeshare is not an asset I would want to inherit or leave to anyone!

 

[disneynutz]

Yes, but many of us have children and grandchildren w plan on leaving our DVC to.

It's a nice thought, but can you say for certain that your children or grandchildren will want your membership when the time comes, or will they be upset with you because now they have take the time to sell it?

In my opinion a more thoughtful gift would be an annuity and letting them decide if they love Disney enough to buy a prepaid accommodation plan.

 

[Tink-n-Belle]

When someone dies you have the burden of selling their assets anyway. If Dh& I died yesterday, my executor would have to sell the timeshares I have, along with the cars, business, house, rental property etc etc. If the kids want to keep the DVC that will be their decision, but its part of my estate, no matter if I intend to leave it directly to them or not. I won't have ANY say as what they do with it.

 

[CarolA]

No, but there's a difference between buying for my use and them having to deal with it and spending money on it so "they will have it after I am gone" By 2042 I will be 82 years old. SO those 15 years would have probably ONLY been for my "offspring" or "heirs". Wouldn't it have been better just to leave them the cash?