Extending membership end date

[jen_mangini]

Hi - did I read somewhere that current DVC members received an offer to extend the 2042 date for the sold out resorts? Were they offering an additional 10 years? Do you know for how much $$? I wonder if we bought a resale if that same offer would one day be extended to us. We are thinking of buying in 2009. Thanks for any insight

=)

 

[Chuck S]

It was offered to OKW owners only, as it isn't simply an extension of membership, it is an extension of the ground lease agreement between Disney and DVC/DVD.

The extension was for 15 years, to 2057. The extension, as approved by the board, is $25 per point. Those that extended in the first few months were given a $10 per point discount (so $15 to extend). We just received an offer of $20 when we received our paperwork when we declined the extension.

No official word as to whether the extension will be made for the other 2042 resorts, or at what price.

 

[jen_mangini]

Thanks for the info. $20 is steeeeeeeep!!

 

[Chuck S]

Thanks for the info. $20 is steeeeeeeep!!

Well, yes and no. If a new contract is $100 per point for 50 years, that is $2 per year.

At $20 for for 15 years, that is $1.33 per year, the problem is paying now for something you won't get any use out of at all until 34 years later. Many of us may have a change in vacation habits, or be in a nursing home (or worse) by then.

If you, or your heirs, would be at an age where you or they would use it, it isn't an awful deal.

 

[WALTSAGOD]

Thanks for the info. $20 is steeeeeeeep!!

Actually pretty cheap I think,...its just way off. You could be dead.