Clarification please :)

[jenr812]

Can someone please explain this to me?

Membership in DVC is included with ownership at a DVC Resort. The program is currently scheduled to end on January 31, 2042- for OKW, BWV, VWL and BCV. After that date, the present resorts will revert back to Disney ownership.

The way I read that, if I buy into DVC today at any of those resorts, the last date of my "ownership" is Jan 31, 2042, but I thought that they were 50 year contracts? I am just in the "gathering info" stage of DVC, so please forgive my ignorance Thanks

 

[tamu91]

Unlike most other timeshare units, you will not own DVC forever. Yes, it's true. Sad but true.
If you purchased OKW, BCV, VWL and BWV contract today, your deed will expire in 2042. The resorts will revert back to Disney. You do get another 12 years at SSR. Someone correct me if I'm wrong but SSR deeds will expire in 2054?
Nobody really knows what's going to happen the day after all these deeds expire but there are plenty of speculations however.

 

[tjkraz]

tamu91 is correct.

Old Key West (formerly the Disney Vacation Club Resort when it was the lone timeshare property) opened in 1991. Most original owners there will have received the full 50 years of ownership. The next 5 resorts all piggybacked the 2042 ending date. Many initial owners at the Beach Club Villas only received 40 years' worth of points, and contracts trading hands now via the resale market will ultimately get as few as 36 years' worth of points (depending on the banked/borrowed status of the contract.)

However you look at it, if you buy into OKW, BWV, HHI, VB, VWL or BCV, January 31, 2042 will be your last day as a DVC member.

When Disney began selling points at Saratoga Springs, they introduced a new 2054 ending date, giving many owners at SSR the full 50 years again. In fact, some lucky early buyers will end up with 51 years' worth of points in the end.

The irony of DVC ownership is that, for the time being, prices continue to go up as contracts get shorter. Just to use SSR as an example, we paid $79 per point for our contract back in October '03, and will get the full 50 years. Those buying now will pay at least $87 per point and get a max of 49 years' worth of points. In less than a week prices are set to go up, so that disparity gets even wider.

Of course that's nothing compared to the prices for OKW points back in 1991, not to mention the decade of free park passes those folks received. But you probably don't even want to hear about that.

 

[sleepydog25]

Just a small point of clarification to add here, jenr812, but one that might have escaped you so far. The only resort DVC is currently offering is SSR, and the contract runs out in 2054. Current contracts aren't set up for 50 years--they're set up to end in 2054, but when SSR "officially" opened, it was 50 years and to a few early buyers a bit longer.

The other resorts are only offered through resales which many find an attractive option to buying through Disney as you can often find them a bit cheaper than what SSR is going for now. However, as noted above, those contracts are set to run out in 2042. There is some speculation that Disney will find a way to keep people in the program beyond their contract termination, but it's certainly not anything upon which I'd base a decision on whether to buy into DVC. Only you and your family can decide whether the cost of prepaid accomodations for the next 36 or 49 years (and counting) is worth it. Good luck with your decision.

 

[Doctor P]

That is not technically true, sleepydog, though it is true in spirit. Though not being actively marketed, Disney is, through ROFR, regularly selling points at OKW and HH directly, but only if you ask. Occasionally, the other resorts will also come available for new purchasers on a case by case basis depending on inventory from ROFR.

 

[sleepydog25]

Ahh, those darn technicalities, Doctor P! I stand corrected. Mea culpa.

 

[RobDoc]

... Current contracts aren't set up for 50 years--they're set up to end in 2054, but when SSR "officially" opened, it was 50 years and to a few early buyers a bit longer. ...

Another "technicality" is that SSR didn't get a full 50 years either. The resort opened on May 7, 2004 and expires January 31, 2054 - just 3 months short of 50 years. While a few early purchasers may get 51 years of points as SSR owners (those who have a December Use Year and pre-purchased), they will still have less than 50 years to use those points.

Only the very early members at OKW actually got a full 50 years. OKW opened on October 1, 1991 and expires on January 31, 2042 - thus having a total of 50 years and 123 days for those who purchased before opening.

 

[jenr812]

THank you all for your information. It makes more sense to me but still is confusing LOL!

 

[tjkraz]

There is some speculation that Disney will find a way to keep people in the program beyond their contract termination, but it's certainly not anything upon which I'd base a decision on whether to buy into DVC.

It's also not anything that DVD/DVC would do for free. If contract extensions are offered, it will certainly come at a price.