Contract Regret (Home Resort)

[glamdring269]

I'm starting to realize in planning our October trip that we may have made a slight mistake in our contract choice. We got a good deal on a 75 point contract for VWL but realized when making our plans for October that I really just don't care where we stay. In retrospect I should have bought a contract for SSR where the contract length is longer and the dues are cheaper. And the thing is... everyone preaches that same concept here all the time!!

Have any of you experienced this? If so, I hope it was with a small contract like ours!

 

[DizBub]

We also really don't care where we stay most of the time. In retrospect I wish we had bought all our points resale at SSR because we love it and don't mind being there. Chances at 7 months for other resorts are good most of the time.

On the upside, you said you got a good deal at VWL for 75 points. A very desirable contract especially for someone who wants to stay during the holidays. You could always resell it and buy what you want or just use and enjoy your points.

 

[Simba's Mom]

I'm starting to realize in planning our October trip that we may have made a slight mistake in our contract choice. We got a good deal on a 75 point contract for VWL but realized when making our plans for October that I really just don't care where we stay. In retrospect I should have bought a contract for SSR where the contract length is longer and the dues are cheaper. And the thing is... everyone preaches that same concept here all the time!!

Have any of you experienced this? If so, I hope it was with a small contract like ours!

Oh, yes-we had "home resort regret". Although I'd visited our home resort before we bought, we'd never stayed there. After our first stay there and then another DVC resort (split stay), we really regretted where we'd bought and wanted to change homes. I even called our guide to see if we could switch. No. So we had to buy/sell-maybe not the best financial decision, but DH knew we'd be paying dues for many years to come and he reasoned that it would be much less painful every year to be paying our dues to a resort we loved and visited. And unfortunately, it was an original purchase of 175 points, not a small contract, so it took a few months for the sale and buy.

 

[sleepydog25]

I'm starting to realize in planning our October trip that we may have made a slight mistake in our contract choice. We got a good deal on a 75 point contract for VWL but realized when making our plans for October that I really just don't care where we stay. In retrospect I should have bought a contract for SSR where the contract length is longer and the dues are cheaper. And the thing is... everyone preaches that same concept here all the time!!

Have any of you experienced this? If so, I hope it was with a small contract like ours!

While your basic point is true, you may come to enjoy VWL enough to forget about the money you might be losing over the years, especially if you ever decide to visit during the Christmas season. There is no resort better at Christmas than VWL. Congrats on your contract.

 

[rusafee1183]

We had a bit of regret when we realized how high the MF fees were for AKV. We purchased that contract direct, and didn't do our homework ahead of time. It is high to own there, and easy to book pretty much all the time. But, we have found the benefits in owning there. The Value rooms are extremely cheap, and nearly impossible to book them if you don't own (sometimes if you do. LOL)

I agree with Sleepydog, that you may come to realize you love the Lodge during the holidays - and that is a benefit of being an owner there.

We specifically purchased there for that reason!

 

[Dean]

I'm starting to realize in planning our October trip that we may have made a slight mistake in our contract choice. We got a good deal on a 75 point contract for VWL but realized when making our plans for October that I really just don't care where we stay. In retrospect I should have bought a contract for SSR where the contract length is longer and the dues are cheaper. And the thing is... everyone preaches that same concept here all the time!!

Have any of you experienced this? If so, I hope it was with a small contract like ours!

I don't think everyone preaches the same concept. I've stated many times that I believe that many, if not most, should buy the lowest resort option they will be comfortable with. I've also stated that I think many buy their "favorite" or the new kid on the block out of emotion rather than analysis. Another point I've made many times is that it's better to underbuy in most situations (both home resort and # of points) than to overbuy. Now I realize there are exceptions mostly centered around needing a difficult to reserve option a fair portion of the time, say a 3 BR and that one doesn't want to underbuy # of points on the very small side. The more one investigates the better decisions they can make and the more likely that decision is based on sound information and less affected by the emotions involved.

We had a bit of regret when we realized how high the MF fees were for AKV. We purchased that contract direct, and didn't do our homework ahead of time. It is high to own there, and easy to book pretty much all the time. But, we have found the benefits in owning there. The Value rooms are extremely cheap, and nearly impossible to book them if you don't own (sometimes if you do. LOL)

I agree with Sleepydog, that you may come to realize you love the Lodge during the holidays - and that is a benefit of being an owner there.

We specifically purchased there for that reason!

This is true with timeshare in general where people are sold a timeshare without truly understanding what they're getting into. In your case you both paid almost double up front (if you bought in the last 3 or so years) and are paying higher dues. As you say, AKV is essentially always available. I've come to the conclusion that it's as cheap or cheaper, and likely better, to buy SSR and use them exclusively for AKV than it is to buy AKV and use just for the value rooms.

 

[SpaceMountain77]

As you say, AKV is essentially always available. I've come to the conclusion that it's as cheap or cheaper, and likely better, to buy SSR and use them exclusively for AKV than it is to buy AKV and use just for the value rooms.

I came to this realization several years ago and wholeheartedly agree. At the time of my initial purchase, OKW was the least expensive, on property, direct offering. Based on our booking experience, with the exception of value villas, villas at AKV are significantly easier to book. As Dean suggested, it would have been better to purchase the same number of points at OKW and use them exclusively for AKV.

All that being said, if I had the opportunity to do things over, I would have selected VWL as my home resort. Although I truly love AKV and would likely have used my VWL points mostly for AKV stays, it is advantageous to have VWL for late fall and holiday-time reservations.

 

[disneynutz]

Like Dean said, in the beginning we bought what we thought was our "favorite(s)" as a the new kid on the block out of emotion rather than analysis.

Now years later, the honeymoon is over, we have stayed at all of the resorts many times and we really have decided on our favorites. Of course the list now is different than our original list.

Bill

 

[Dean]

Like Dean said, in the beginning we bought what we thought was our "favorite(s)" as a the new kid on the block out of emotion rather than analysis.

Now years later, the honeymoon is over, we have stayed at all of the resorts many times and we really have decided on our favorites. Of course the list now is different than our original list.

Bill

We have our favorite's but nothing is a strong front runner. We're happy staying at all the resorts. My view is that most people end up trying things here and there and that it's unusual where anyone gets enough benefit out of a single high end contract to justify the added costs. Obviously this is different for some who are well experienced and who own multiple resorts and/or have owned a long time. Even many of those aren't in a position they can adjust their membership reasonably to do what they'd prefer routinely. And the landscape has changed the last few years where the difference is 50% not 15-20%.

 

[LSchrow]

you may come to realize you love the Lodge

i agree
else, make lemonade......

we try to think everything through (& through & again & over) because i dislike regret on general principle.
it still got us after we bought our second contract. we figured the other (prebuild) resort would be similar to our favorite (original contract) resort, and we were sure to love it!
alas, not while there were/are a few similarities, much of what we love about the original resort were missing (quiet/active options, views, etc).

our lemonade is using that contract (thankfully, only 60 points) at 7 months toward our spring vac at our favorite (less busy times), trading with friends, renting those points.

if the occasion arises, that will be the first contract to go (we own at 3 resorts).....then maybe we could buy more at our

 

[Meggysmum]

You have a valuable, easy to sell contract which would command a high price so that is nice to know should you decide to sell.

However you also have the opportunity of booking a gorgeous resort in the autumn and xmas seasons when everyone want to stay there. the new 5 sleeping studios will make VWM even more difficult to book so you have a great advantage.

I own at SSR and love it and appreciate the lower dues and I am happy to stay there anytime but I would prefer your contract!

 

[bobbiwoz]

You have a valuable, easy to sell contract which would command a high price so that is nice to know should you decide to sell.

However you also have the opportunity of booking a gorgeous resort in the autumn and xmas seasons when everyone want to stay there. the new 5 sleeping studios will make VWM even more difficult to book so you have a great advantage.

I own at SSR and love it and appreciate the lower dues and I am happy to stay there anytime but I would prefer your contract!

Sleeping 5 in VWL studios?

 

[SpaceMountain77]

Sleeping 5 in VWL studios?

Yes, the reimagined studios will have a pull-down twin, similar to those featured in the studios at VGF.

 

[rusafee1183]

This is true with timeshare in general where people are sold a timeshare without truly understanding what they're getting into. In your case you both paid almost double up front (if you bought in the last 3 or so years) and are paying higher dues. As you say, AKV is essentially always available. I've come to the conclusion that it's as cheap or cheaper, and likely better, to buy SSR and use them exclusively for AKV than it is to buy AKV and use just for the value rooms.

Not to hijack, but at this point in the game.... Is it worth it to try and sell AKV contract and purchase a resale SSR contract? I did purchase in 2012, direct and way overpaid. I bought during the 'free points' incentive, so we got 120 points for the cost of 100. At that point they were $130 a point, making my contract $13,000 for 120 points.

Selling now - I am only going to get about half of what I put in. ($65ish resale I am guessing) So that would be about $7,500 that I could purchase another contract with, minus the broker fees.

Will selling now, and purchasing a SSR contract save me in the long run? Or will I pretty much break even?

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[PoohsFan1]

I've come to the conclusion that it's as cheap or cheaper, and likely better, to buy SSR and use them exclusively for AKV than it is to buy AKV and use just for the value rooms.

I completely agree with this . When we purchased our second contract, we bought into SSR because the points and MFs were much cheaper. Our initial plan was to use those points, along with our BLT points that we already owned, and get into a different DVC resort at the 7 month mark (which we have never had a problem doing at any time of year) or even use the SSR resorts to get into a bigger villa at BLT (we own 100pts there). We could of added onto BLT, but we didn't want to spend the $$$ that Disney wanted since we bought direct. The funny thing was, we bought SSR without giving it a test drive, per se, and didn't think we would ever stay there, but just use the points. Well we have stayed there twice since buying (in 2011) and have really grown to love it there. In fact, we just added on another 50pts at SSR in October. Now we are very happy that we have BLT and SSR as our home resorts .

 

[disneynutz]

Not to hijack, but at this point in the game.... Is it worth it to try and sell AKV contract and purchase a resale SSR contract? I did purchase in 2012, direct and way overpaid. I bought during the 'free points' incentive, so we got 120 points for the cost of 100. At that point they were $130 a point, making my contract $13,000 for 120 points.

Selling now - I am only going to get about half of what I put in. ($65ish resale I am guessing) So that would be about $7,500 that I could purchase another contract with, minus the broker fees.

Will selling now, and purchasing a SSR contract save me in the long run? Or will I pretty much break even?

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Do you have availability issues at other resorts? Do you plan to stay only at SSR?

Bill

 

[Dean]

Not to hijack, but at this point in the game.... Is it worth it to try and sell AKV contract and purchase a resale SSR contract? I did purchase in 2012, direct and way overpaid. I bought during the 'free points' incentive, so we got 120 points for the cost of 100. At that point they were $130 a point, making my contract $13,000 for 120 points.

Selling now - I am only going to get about half of what I put in. ($65ish resale I am guessing) So that would be about $7,500 that I could purchase another contract with, minus the broker fees.

Will selling now, and purchasing a SSR contract save me in the long run? Or will I pretty much break even?

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IMO there is a cost side to this discussion and a usage side. I'm mostly talking cost but with the expectation one can use the points to get most things over time. There are items that will be out of bounds without the 11 month priority and truthfully, even with the home resort priority they may be elusive. These might include the BWV 3 BR & standard, AKV concierge and value and the VB beach homes. Now there will always be examples of successes but usually few and far between for off season and/or short notice.

Anything you may have overpaid really is gone so all that's applicable, assuming you're paid in full, is the relative costs and comparisons. IMO this will not make sense for most situations. The exceptions might be if you have less points and plan to add on anyway (esp smaller contract), if you had a very high demand option or if you wanted to downsize significantly. By the time you pay a commission and closing on the new purchase, you will have eaten up any savings and in the end, still have something worth less than you started out with. For sake of discussion and assuming replacing a 200 pt contract at AKV with one at SSR all points issues being the same, you'll pay commissions of around $1400 on the sale, buy SSR at maybe a $2000 savings then pay roughly $500 closing on SSR. That's roughly break even but with lower dues but IMO, the difference yearly isn't enough to make it worth this doing this plus you will give up some options that might be beneficial for rental, even if not for usage, like concierge and the value rooms.

 

[Jennasis]

DH is the brains of this outfit LOL. I thought we (I?) wanted an AKL contract...we do love it there and the points were much cheaper than how TRUE first love, BLT. But DH insisted on BLT not only because we love it with the white hot intensity of 10,000 suns but also because the MF are cheaper, so for the long haul it will work better for us. We can still use our points at AK as it seems rooms are generally available when we tend to go (Sept/October). Plus both resorts have the second bathroom in the 1 bedrooms which we will book from time to time if family/friends are traveling with us.

 

[BubMunkeyBles]

We bought at SSR. We bought direct and got a good deal. The only other resort they were selling at the time was AKV. We didn't want the high dues. There's definitely other resorts I wish we had points at. We've been looking into buying resale at BCV and BLT. We added Grand Californian because it can be harder to book at 7 month window.

 

[glamdring269]

Good discussion here all, appreciate the feedback! One of the key reasons we did buy this contract was to have booking advantage for the Christmas season since it is one where we know we can always travel. I guess what I found interesting in booking my first trip is that pretty much any resort I was interested in was open the week of October 5th. We managed to snag 5 nights at BWV without much of a problem from Tue-Sat. Noticed that AKV is pretty wide open as well, especially at Kidani. Even VGF had a couple of nights open had we decided to do a split stay.

I'm sure the first time we decide to make our way down during the Christmas season is likely when it will all make sense...