Did I overpay?

[Yahweh]

Looking now at some of the other sales for DVC, I'm starting getting the feeling that I may have overpaid.

Our bid for 100 Polynesian points was accepted at $170/point.

It was listed at $177/point and did come with an extra 100 points (200 total points this year)/ I'm OK either way, but just curious what other people think.

Thanks!

 

[Bing Showei]

I wouldn’t have paid that, but the fact that I need 1BRs, and that my wife would leave me if I came home with another DVC contract, factors into that heavily. “Overpaying” is so subjective, as it involves so many personal biases, that I’m not sure what value it should carry coming from others.

If it was a price you could afford and were happy to pay to get the contract, then no, you didn’t.

 

[Spartan86]

I agree with Bing. If you were comfortable with the deal and got points and a use year you are happy with then it is fine. A very fast glance at listings at “the resale market” shows 100 point contracts listed lower than yours to be somewhat to mostly stripped. Enjoy your Poly

 

[BillPA]

Posted on this site, resales for POLY July 2018. $177 does look to be a bit high. As long as you're happy just enjoy the resort and don't worry about the cost.
PVB:

DVC Fanatic---$145-$31133-200-PVB-Dec-0/17, 200/18, 200/19- sent 6/26, passed 7/12

phatscott25---$150-$16165-100-PVB-Jun-0/17, 110/18, 100/19, 100/20- sent 6/20, passed 7/23

DVC2018---$145-$15825-100-PVB-Jun-0/17, 161/18, 100/19- sent 7/10, passed 7/27

 

[ziravan]

The difference in $10/point, over 47 or so years, is negligible. Don’t sweat it.

If it’s that big a deal to you, rent out the loaded 100 points. At $15/point, that’ll bring your contract price down to an effective $155 for an unloaded contract. Of course, I’d rather have the points.

The price you paid is the vanguard of the new normal of a resort now priced at $220 direct. I mean, it’s the Poly. IT’S THE POLY!

Enjoy your contract and don’t sweat this another minute.

 

[mom2rb]

I wouldn’t have paid that, but the fact that I need 1BRs, and that my wife would leave me if I came home with another DVC contract, factors into that heavily. “Overpaying” is so subjective, as it involves so many personal biases, that I’m not sure what value it should carry coming from others.

If it was a price you could afford and were happy to pay to get the contract, then no, you didn’t.

Switch it to my husband would leave me and I could have written this.

 

[Dean]

Looking now at some of the other sales for DVC, I'm starting getting the feeling that I may have overpaid.

Our bid for 100 Polynesian points was accepted at $170/point.

It was listed at $177/point and did come with an extra 100 points this year. I'm OK either way, but just curious what other people think.

Thanks!

Depending on how the dues are handled and closing costs, you likely did overpay. If you're reimbursing for this years dues and paying a full service closing at around $500, you're over maybe $2000 ($20 pp), more or less depending on how the closing/dues comes into play. The other issue is can you use the extra points. When you say extra 100 points I'm assuming the current UY has all 100 plus an extra 100 plus all of next years points. I'm further assuming you're early enough in this UY that you can close and either use or rent the points. Now if you're within 10 days of the offer you can legally cancel and move on. Or you could discuss that you now know you overpaid and see if you can get any concessions or a faster closing.

 

[Bing Showei]

Switch it to my husband would leave me and I could have written this.

But with as much panache and charm?

I wouldn’t have paid that, but the fact that I need 1BRs, and that my wife would leave me if I came home with another DVC contract, factors into that heavily.

Copyright 2018 Bing Showei All rights reserved.

Yes, I just quoted myself. And yes, I also just copyrighted it.

 

[Bing Showei]

Now if you're within 10 days of the offer you can legally cancel and move on.

This is a great point worth making.

The sense I got from the OP was that they had identified the market trends and recognized the price they paid was clearly above average resale prices, but the question is did they overpay?

That’s the subjective part that’s tougher to say. If one came to the table with zero interest in messing with resale and bought PVB direct, did they overpay at $220/pt? The argument could be made that the buyer valued their time more than futzing around with ROFR, delayed closings, haggling prices, sleazy resale brokers, etc.

In that sense, I would maintain that if one is happy with what they have, no. If they have regrets? Well...

if you're within 10 days of the offer you can legally cancel and move on.

 

[_auroraborealis_]

OP paid $170 for a loaded contract. While $177 may be high, taking that $7 off is relevant.

 

[Yahweh]

I probably wasn't clear in my original post, It had 200 points in total for the first year.

 

[deerh]

Agree with other people... If you are happy with it, don't sweat it.. Or rent out the points at $16-17/point to recoup some costs. We all have second thoughts about a big purchase-car/house/DVC.. That's why they give you 5-10 days to cancel purchase...

 

[Networth]

Well you didn’t pay the direct price of $220 PP like my coworker so I would say you are way ahead...

Really though, you got $7 off the asking price. You have 200 points ready to go where other listings are stripped, and lastly your happy with resort and UY (I assume).

Congratulations!

 

[Dean]

I probably wasn't clear in my original post, It had 200 points in total for the first year.

It has 200 points in the current year that it's in now AND 100 pts in the one coming up? IF that's the case AND you're early enough in the current UY to get closed AND rent or use the points, that will offset your cost by around $1000 because of the banked points. Of course reimbursing for the full fees for this year will erode some value and raise the costs as well because that means one paid dues on points they didn't have depending on the UY which will offset some of the benefit of the banked points.

 

[Jerry5788]

Looking now at some of the other sales for DVC, I'm starting getting the feeling that I may have overpaid.

Our bid for 100 Polynesian points was accepted at $170/point.

It was listed at $177/point and did come with an extra 100 points (200 total points this year)/ I'm OK either way, but just curious what other people think.

Thanks!

I think it’s a little high - I think $145 is a fair price point. If you are fine with it that is all that matters. If you are not fine with it you can simply walk away at this point and for 10days after you sign if you prefer

 

[Mumof4mice]

If it's going to bother you that you didn't get the best deal you could have, then I'd rescind (assuming you are within 10 days of signing the contract). It wouldn't be too hard to find a replacement. On the flip side, you might regret the extra time/work just to save $1000-$2000!

For me, the hassle of buying resale and the difference in promotional incentives is worth a $70pp discount. Any less and I'd consider buying direct from Disney. Good luck whatever you decide to do.

 

[ziravan]

Go take a peek at Timeshare User Group.

There are plenty of people who spend the same amount of money every day on contracts that are worth pennies on the dollar afterwards.

Poly will almost certainly hold value over time.

Even if you didn’t get as good of a deal as you maybe could have gotten, I don’t think it’s enough to worry about it.

When we bought our first contract, we weren’t sure if it was a good value over all. So. Our gut check was this, “Is it a good value for us?”

We decided that it was. Ultimately, that’s all that matters.

 

[kniquy]

I guess this thread is a good reason for people to research on this forum to get an idea of what people are paying. I am sure what is on the ROFR thread is just a small sample of what is selling, but it at least gives you an idea of what offers are accepted by the sellers and what passes ROFR. So with that I would say that compared to people paying $20 per point less, yes you over paid by probably $2000. Sometimes when you are getting into a luxury purchase whether it be a car, house or timeshare - your judgement is clouded and you may not be looking at the whole picture or realizing that if you keep looking you will find a better deal.

To the OP If you stuck within your budget to get the contract that you wanted and are happy with it then get the contract in your hands and move on to enjoying your stays at the poly. If you went over your budget just to get this contract then when you decide to add on in the future then you will know what to look out for. I guess be thankful it wasn't for purchasing a 200-300 point contact because then your overage would be much more significant.

You will still save compared to a direct contract and certainly save money compared to booking from disney. I guess when you look at that you can have some peace of mind knowing that.

 

[ELMC]

Looking now at some of the other sales for DVC, I'm starting getting the feeling that I may have overpaid.

Our bid for 100 Polynesian points was accepted at $170/point.

It was listed at $177/point and did come with an extra 100 points (200 total points this year)/ I'm OK either way, but just curious what other people think.

Thanks!

You overpaid. Only one person can get the best deal. Everyone else overpays by comparison.

The point is, even if you did pay a little more than you could have gotten the contract for it's not the end of the world. More contracts are lost by trying to squeeze every last dime out of the deal. You hear the success stories of people who get crazy deals, but you never hear about the 30 rejections and lost contracts that happened before that. My advice would be to enjoy your purchase! And congrats!!!

 

[Cyberc1978]

I'd say you got a good deal, and maybe you overpaid a bit. How much does $1-2000 matter in 10, 20 or 30 years down the road. if you feel you got a good deal then thats what matters. If you dont, I would rescind(if you are still within the window to do so)