Close in time for Nov/Dec trip?

[Bmlors]

I am a newbie to purchasing DVC -- recently made an offer for OKW and found out today that Disney exercised ROFR so am back to the drawing board. We are planning a trip Nov 27-Dec 4 and will be wanting a 2 BR at OKW for that week.

I am looking at other listings today and will likely extend an offer to one tomorrow. For those of you experienced DVC members/buyers, is it likely that I'll be able to close and then book the stay we want? Or we will be too late and the 2 BR at OKW will not be available by the time we close (which I'm assuming will be late April-ish)?

Any advice would be appreciated...we are committed to making the trip during that week and would like to purchase DVC to do this trip (we've rented DVC in the past). But if I can't get it done for this trip, I will likely either rent again or book at some other resort this time around...taking the time crunch off the DVC purchase. Thanks!

 

[cyiland]

My impression: in April, you're still likely to be able to book the 2bdrm OKW since you aren't going into it until after the Thanksgiving weekend.

Since I also have a contract at OMW going through ROFR, can you tell me more (points, points available, price per point, how long you waited)? Thanks!

 

[Bbguy5]

You may be ok, but that is very busy dvc times so the sooner the better. I closed in July and was able to get a 1 bedroom for my 4 day split stay.

 

[Cyberc1978]

Unfortunately you don't know if your next contract is gonna get ROFR'ed too.

The days which you are going are in a high demand week, so if you wish to ensure that you have a room, i'd suggest that you rent the points and should you have your account setup in time, you could rent out your own points to offset the cost of the rental.

 

[disneynutz]

I would rent again and hope for the best. Once you close on the purchase, you can either bank the points or rent them out.

Select the best UY for your vacation patterns.
Buy where you love to stay.
Book at 11 months.
If you buy additional contracts, keep the same UY and names on deeds.
If you intend to buy a small direct contract for the perks, buy now before the minimum increases.
DVD/DVC marketing can change the perks at any time.
Perks and policies tend to change when management changes.
Expect to spend more on Disney vacations after you buy DVC.

Bill

 

[Bmlors]

My impression: in April, you're still likely to be able to book the 2bdrm OKW since you aren't going into it until after the Thanksgiving weekend.

Since I also have a contract at OMW going through ROFR, can you tell me more (points, points available, price per point, how long you waited)? Thanks!

It was 150 pts with a March use year -- no points from 2017, all other points available. $87 was the accepted offer -- submitted for ROFR on 2/2 and came back on 2/19.

 

[Bmlors]

I would rent again and hope for the best. Once you close on the purchase, you can either bank the points or rent them out.

Select the best UY for your vacation patterns.
Buy where you love to stay.
Book at 11 months.
If you buy additional contracts, keep the same UY and names on deeds.
If you intend to buy a small direct contract for the perks, buy now before the minimum increases.
DVD/DVC marketing can change the perks at any time.
Perks and policies tend to change when management changes.
Expect to spend more on Disney vacations after you buy DVC.

Bill

Thanks for the advice -- we definitely want OKW and are flexible on the use year. We were intending to purchase a small direct contract for the perks, but we were one of the casualties of the change mid-stream. We'll now just purchase more points off resale, as the perks for us aren't worth the premium for 75 pts of a direct purchase (it was worth it at 25).

 

[igrsod]

Thanks for the advice -- we definitely want OKW and are flexible on the use year. We were intending to purchase a small direct contract for the perks, but we were one of the casualties of the change mid-stream. We'll now just purchase more points off resale, as the perks for us aren't worth the premium for 75 pts of a direct purchase (it was worth it at 25).

That sounds like what we decided too. I like what others have said.... rent the point for peace of mind for this trip... keep searching and trying for the resale DVC contract in the mean time. If you should get lucky, then just rent out or bank your points from your new purchase. We are thinking of the same scenario if ours gets ROFLed. It's still on the chopping block... fingers crossed.

 

[_auroraborealis_]

I think even OKW may be a problem.for that week inside of 6 months. The fall has been pretty packed for availability.

 

[Debbie Jean]

I would rent again and hope for the best. Once you close on the purchase, you can either bank the points or rent them out.

Bill

Totally agree with this.

While it's possible, I think it's unlikely you will get 7 days in a 2 bedroom during that time period even at OKW. You will be within the 7 month booking period open to all owners when you finally get access to your points. OKW 2 beds are extremely popular because of their size and low point requirements, especially during the "DVC lead up to Christmas frenzy", as I call it. If you didn't mind a split stay, you might be able to put something together or try a wait list and hope you get lucky. But honestly, I think Bill's suggestion makes the most sense to minimize stress and score the reservation you need.

 

[Bmlors]

On the rent side -- let me think out loud to make sure I'm understanding the financial implications. I rent points now and make my reservations...talking 226 points at ~$16/pt. Then later, presuming we land a contract, I rent out my points at around $13.50/pt. So I net "lose" about $2.50/pt or $565 for this reservation, essentially spending $565 to ensure I get the room I want. Am I thinking through this correctly?

 

[_auroraborealis_]

On the rent side -- let me think out loud to make sure I'm understanding the financial implications. I rent points now and make my reservations...talking 226 points at ~$16/pt. Then later, presuming we land a contract, I rent out my points at around $13.50/pt. So I net "lose" about $2.50/pt or $565 for this reservation, essentially spending $565 to ensure I get the room I want. Am I thinking through this correctly?

Close. You also pay tax on the point rental income.

 

[disneynutz]

On the rent side -- let me think out loud to make sure I'm understanding the financial implications. I rent points now and make my reservations...talking 226 points at ~$16/pt. Then later, presuming we land a contract, I rent out my points at around $13.50/pt. So I net "lose" about $2.50/pt or $565 for this reservation, essentially spending $565 to ensure I get the room I want. Am I thinking through this correctly?

Getting the reservation at the resort that you want comes at a price. What is it worth to you? You can always wait and see what happens and what's available where or like I said you could rent and bank your points.

Bill

 

[Bmlors]

Close. You also pay tax on the point rental income.

Interesting...I haven't seen anything about this aspect. How is the basis calculated to figure out how much income was generated on the rental? In the grand scheme, this probably isn't a major implication for this specific scenario, but now I'm curious.

 

[Bmlors]

Getting the reservation at the resort that you want comes at a price. What is it worth to you? You can always wait and see what happens and what's available where or like I said you could rent and bank your points.

Bill

Totally agree -- and I think we'll do it this way as it's worth the spread. Just wanting to ensure I'm understanding it before I jump. BTW, I tend to lurk on these forums and learn a ton by reading what's posted, so many thanks to those of you who freely share the knowledge you all have.

 

[chalee94]

Interesting...I haven't seen anything about this aspect. How is the basis calculated to figure out how much income was generated on the rental? In the grand scheme, this probably isn't a major implication for this specific scenario, but now I'm curious.

The cash you get is taxable income. You may deduct related expenses like due paid on the rented points. Buying DVC in order to rent it commercially is against the ownership agreement so I'm not one to recommend trying to sell that argument to the IRS.

 

[thelionqueen]

It was 150 pts with a March use year -- no points from 2017, all other points available. $87 was the accepted offer -- submitted for ROFR on 2/2 and came back on 2/19.

Well phooey! This is concerning! I have an OKW (E) contract in for ROFR at less. Here's hoping they're happy with just this one contract.

 

[Bmlors]

Well phooey! This is concerning! I have an OKW (E) contract in for ROFR at less. Here's hoping they're happy with just this one contract.

Once the change was announced from 25 to 75 direct points for benefits, I figured we were high risk since the 150 pts were available in March...so DVD could snatch them up and then feed them back out to everyone who's happily snapping up 25 pt contracts this week. Just really unfortunate timing for those of us caught in this at just the wrong time, as we end up getting the double whammy of losing the resale purchase along with being unable to add 25 direct points for benefits. But, I look at it as something I didn't have a month ago...still don't have it today...so not worth worry about. But hopefully yours works out better...

 

[cyiland]

Yeah, I have to agree with other replies here. In writing my original response, I read (and was typing) 2 bdrm, but *thinking* 1bdrm. I also should have checked the historical data. I was thinking things settled right back down the week after Thanksgiving for that kind of "pre-Christmas lull". Best of luck, whichever way you decide to go.

 

[Debbie Jean]

The crowd calendar does not apply to DVC. September to January is the busiest season for DVC due to F&W, holidays and low points required to book. December is especially tough and prime rooms are often gone before the 11 month booking window with people walking reservations.