DVC expiring and others never expiring

[karebear06]

I was just wondering if anyone knew anything about other timeshares not ever ending. I think I remember Disney telling me at one time that in the fine print other timeshares do end or that there is a huge re-assessment fee sometime. Does anyone know? I was just curious.
Thanks

 

[disney0210]

I went on ebay before I bought our DVC and those that said the timeshare is perpetual (never ending), some of them you'll see that there is an assessment fee. I think of it the way my DVC guide has explained it to me. No matter whose buildings these are, when they hit 50 years old, they will start to need maintenance big time. Our right-to-use gives us a way out if we don't want to be paying for this roof, that roof, that pipe and so on... Besides, she said, who knows what the next big thing in vacationing is going to be in 50 years?

I have regular timeshare-owner friends who kinda looked down at my DVC (at least that's how I felt) because my DVC was not forever. Yep, good luck with forever to them... Good luck with those repair bills...

Cheers!

 

[Dean]

For the US, most never expire other than DVC and some in HI though there are exceptions. For the Caribbean and MX, most expire but even then they are not all the same. Overall I think too much is made of this issue in general terms but when you get say under 30-35 years it does affect marketability and price. Given there are so many other issues and limitations that determine whether DVC is a good fit for a given family or not, I wouldn't let eh RTU issue stand in the way though it might affect your choice of resorts. OTOH, there are many resorts that you might not want to own in 50 years and might be willing to pay to get rid of.

 

[CarolA]

I decided the "never expiring" wasn't an issue for me.

While I read on here that folks want to "leave" thier timeshares to thier heirs, personally I don't think that's something I want to do. How do I know what they want to do in the future? How do I know they can afford the dues etc? What if the market for my timeshare tanks and they are stuck with this "pink elelphant?"

If I had a non-expiring I would consider selling it when I get to old to use it.

 

[Brian Noble]

It is true that a DVC contract, near the end of its life, will be worth nothing.

It is also true that many "deeded/perpetual" timeshares are worth nothing, and many of them are worth that little much more quickly than for a DVC contract.

The issue of deeded vs. RTU is less interesting to me than the rate of depreciation.

 

[Grandbuddy]

It is true that a DVC contract, near the end of its life, will be worth nothing.

It is also true that many "deeded/perpetual" timeshares are worth nothing, and many of them are worth that little much more quickly than for a DVC contract.

The issue of deeded vs. RTU is less interesting to me than the rate of depreciation.

But until it has expired, it is worth the same amount in Disney accommodations each year as it is today, is it not?

 

[Dean]

But until it has expired, it is worth the same amount in Disney accommodations each year as it is today, is it not?

That's the questions isn't it? The answer will certainly be different for selling vs using. What will it be worth in 25-30 years to sell will be likely very little. For using it depends on things like dues at the time, quality of the resorts, and comparison to other available options (quality, price, location, etc). Obviously members are counting on that these will be favorable comparisons but we shall see, well some of us won't I guess.

 

[Brian Noble]

Right. And my point wasn't that DVC is eventually worthless in terms of resale. My point was that nearly every timeshare is eventually worthless in terms of resale---and most of them become worthless much more quickly than a DVC membership will.

For example, a brand new, shiny Wyndham deed---which is yours and your heirs' forever and ever---looses 75%-90% of its value as soon as the ink is dry on the purchase.

 

[karebear06]

The reason that I posted this topic is because we got suckered into doing a tour yesterday while we were in Pigeon Forge. We knew we were not going to buy anything because we just bought DVC, but the man at the Walmart was very persistant and offered some great gifts. After the tour, they asked us if it sounded like something we would be interested in and we said no. They asked why, and of course we told them we just bought DVC. That is when it began... It was like we were a bunch of morons for only wanting to go to Disney World every year. Not only that, it was like they were putting down our purchase of DVC because of the expiration, the amount of dues, pricing. etc. So anyways, I was just curious about the assessment fee because they said it did not exist.

Thanks

 

[UConnJack]

The reason that I posted this topic is because we got suckered into doing a tour yesterday while we were in Pigeon Forge. We knew we were not going to buy anything because we just bought DVC, but the man at the Walmart was very persistant and offered some great gifts. After the tour, they asked us if it sounded like something we would be interested in and we said no. They asked why, and of course we told them we just bought DVC. That is when it began... It was like we were a bunch of morons for only wanting to go to Disney World every year. Not only that, it was like they were putting down our purchase of DVC because of the expiration, the amount of dues, pricing. etc. So anyways, I was just curious about the assessment fee because they said it did not exist.

Thanks

You should have reminded them that they were selling timeshares at WalMart, and then asked who is the idiot.....

 

[UConnJack]

If I am not using DVC much anymore when I am 60 years old and my contract still has 15 years on it, yes the resale value will be minimal, but as long as Disney stays a top destination and the resorts are kept in decent shape, the rental value of them should still be better than most timeshares. Rather than sell it for pennies on the dollar, you should be able to rent it out for a fair price until it ends. Although who knows what kind of rental restrictions there will be then. I suspect renting will become more prevalent and competitive toward the end of DVC lives, and Disney will do more to restrict it to reduce competition with CRO.

But bottom line, who knows what will happen in 25 years? If global warming is true, Florida may be under water anyway. Or maybe Disney sells the parks and they go to pot. Or maybe the US or world economy is in shambles. Who knows?

 

[mopee3]

If I am not using DVC much anymore when I am 60 years old

Man you guys are butal, we just purchased our AKV contract last year shortly after my 61st birthday (my bride of 40 years is 59 years young).
In another 15-25 years I will be the guy in the wheelchair that gets on the buses, or what ever transportation they have then , before anyone else.

Yee haw!!!

monty

 

[paulh]

we were told that the reason why its 50 years is insuance,they would not get it for more than that
Plus think we will be a bit too old at 86 then
And if kids what to go they can buy there own
Paulh

 

[Dean]

The reason that I posted this topic is because we got suckered into doing a tour yesterday while we were in Pigeon Forge. We knew we were not going to buy anything because we just bought DVC, but the man at the Walmart was very persistant and offered some great gifts. After the tour, they asked us if it sounded like something we would be interested in and we said no. They asked why, and of course we told them we just bought DVC. That is when it began... It was like we were a bunch of morons for only wanting to go to Disney World every year. Not only that, it was like they were putting down our purchase of DVC because of the expiration, the amount of dues, pricing. etc. So anyways, I was just curious about the assessment fee because they said it did not exist.

Thanks

They get paid to get you to tour, not based on whether you buy or not. They do not work directly for the timeshare company normally so reasoning with them that you won't buy or just bought really has no meaning.

we were told that the reason why its 50 years is insuance,they would not get it for more than that

You were told wrong. The reason is very simple, control. If they sold it otherwise they'd lose permanent control of the land.

 

[Brian Noble]

Precisely---and this is land on which the privately-owned quasi-government of the Reedy Creek Improvement District sits.

The Mouse is incredibly careful about making sure that no one---and I do mean no one---other than a few trusted employees owns land in (and hence votes in) RCID.

http://en.wikipedia.org/wiki/Reedy_Creek_Improvement_District

 

[Buckeye Fan]

Man you guys are butal, we just purchased our AKV contract last year shortly after my 61st birthday (my bride of 40 years is 59 years young).
In another 15-25 years I will be the guy in the wheelchair that gets on the buses, or what ever transportation they have then , before anyone else.

Yee haw!!!

monty

Good for you, Mopee...both on your DVC purchase and your 40-yr marriage! Both are truly AWESOME!!!

I was just sitting here figuring out that I'll be 72 when our VB contract ends and 84 when our SSR. DH will be 74 and 86. All I can say is that God willing, we'll ride DVC into the sunset, and I CANNOT wait! Being 38 and 40, we've got lots of great years and memories to go with two precious babies, who are now 12 and 5!

Again, congrats! Your post made me smile!!!

 

[mopee3]

All I can say is that God willing, we'll ride DVC into the sunset, and I CANNOT wait! Being 38 and 40, we've got lots of great years and memories to go with two precious babies, who are now 12 and 5!

Again, congrats! Your post made me smile!!!

Ah yes God willing! That is the most important part!

Enjoy the ride, because that's what life is on this planet.



moe

 

[casper]

There is a good chance that I will have expired before my contract does. I will be 88.

 

[Princess_Melanie]

Interesting post and I'm enjoying reading some of the answers.

My mother and step-father purchased into a timeshare deal years ago - with a company that has most of it's villas etc in Spain/Portugal. Great for them - they love the place.

My DBF and made the big step towards the rest of our lives together and bought into the DVC last year - We love Disney so that's great for us.

However, I get endless teasing and remarks from my mother and step-father about the "disney-thing" and to remember that I'm being left half of their timeshare so what will happen then? I wouldn't use it all as I'm not exactly fussed with Spain etc, going further afield uses a lot more points so in my opinion, for me, it wouldn't work. I'd also have to fork out all the usual costs and the maintenence is waaaay higher than our DVC.

I suggested leaving it all to my brother (who won't fly long distance) and I have nooooo problem with that....clearly my mother does though as she still continues to dig at us about Disney.

I love the DVC for us so far - it's given us a lot of scope for what we want to do, we can't wait to add on more points at a later date....and OOH we're taking my Father with us this December!!

 

[jakenjess]

I personally wouldn't want to burden my heirs with a timeshare that "never ends". My SIL gave us the same line, "I would never buy a timeshare that has an end date." My other SIL bought the same timeshare as first SIL, and when she couldn't afford to either use it or keep up with the taxes and maintenance fees she decided to sell. Easier said than done, it took her two or three years to sell it, and it sold for practically nothing. I would hate to leave that kind of financial headache to my kids.