Extensions for other resorts in the future...

[88golf88]

What are the feelings of current owners that DVC is going to offer the 15 year extension that they offered to OKW? Obviously no one knows for sure, but we were just wondering what those already in DVC thought. We are trying to decide between VWL and AKV. We would prefer staying at VWL, but AKV is 15 more years...Decisions, Decisions, Decisions...

 

[Metsoskil]

What are the feelings of current owners that DVC is going to offer the 15 year extension that they offered to OKW? Obviously no one knows for sure, but we were just wondering what those already in DVC thought. We are trying to decide between VWL and AKV. We would prefer staying at VWL, but AKV is 15 more years...Decisions, Decisions, Decisions...

As a VWL owner, I'd do the extension in a heartbeat. No idea if they'll offer it, though.

 

[Sandisw]

My understanding is that didn't really go very well so if they do it with the other resorts, it will probably be a bit different.

JMO, but if you really would prefer to be at VWL, I would buy there and not worry about those extra years right now. You are talking 30 years down the road before it is an issue.

We started with VWL, our 2nd choice resort, thinking it was a great way to get in to DVC (50 point contract) and then would just add on at BLT as time went on. But, once I was a member, I realized that I just wanted to be able to book my whole trip at BLT 11 months ahead and not try to do some nights at VWL and some at BLT and then try to change.

I sold VWL only 2 months later, after having added on at BLT. I did take a small loss, but in the end, it worked out and I am much happier. I booked next summers trip right at 11 months and go just what I wanted. We decided that we wanted to try BCV for a few nights, and traded out at 7 months. Had that not been available, though, we would have been fine staying at BLT the whole time (or would have tried for VWL).

Good luck!

 

[88golf88]

BLT is our ultimate goal, but the intial buy in is a little out of our price range. We are trying to get established as a younger married couple and have this paid off within a few years, before the little ones start coming along!

VWL is definitely 2nd on our list, because of its proximity to MK. We spend most of our time there. Due to our work schedules, we really cant go to the WDW during peak times anyways, so there is a chance we will be able to get in at BLT at the 7 month window everyonce in a while. But if we cant, we will have VWL booked at the 11month window and will be just as happy with that.

As far as not worrying about 30 years down the road, I agree to a certain point. My wife is definitely along the lines of "lets not worry" about 30 years. But, in 30 years, we will just be hitting our mid 50's. Again, who knows what will happen between now and then. Hopefully we will own at a few different properties!!

Thanks for all the help, I am hoping we will be DVC members with in a few weeks, if not shorter!

 

[Metsoskil]

BLT is our ultimate goal, but the intial buy in is a little out of our price range. We are trying to get established as a younger married couple and have this paid off within a few years, before the little ones start coming along!

VWL is definitely 2nd on our list, because of its proximity to MK. We spend most of our time there. Due to our work schedules, we really cant go to the WDW during peak times anyways, so there is a chance we will be able to get in at BLT at the 7 month window everyonce in a while. But if we cant, we will have VWL booked at the 11month window and will be just as happy with that.

As far as not worrying about 30 years down the road, I agree to a certain point. My wife is definitely along the lines of "lets not worry" about 30 years. But, in 30 years, we will just be hitting our mid 50's. Again, who knows what will happen between now and then. Hopefully we will own at a few different properties!!

Thanks for all the help, I am hoping we will be DVC members with in a few weeks, if not shorter!

Peak times at WDW do not match up with Peak times for DVC bookings. I wouldn't base any decisions on that.

 

[88golf88]

We aren't basing much on that. It was just an observation, but I appreciate the heads up. We are basing our decision on 2 things.
1)-Our absolute love of Disney
2)-Current finances. We are going to be going at least once a year over the next xxx years and we stay the lower end delux hotels anyways. It just makes sense to be saving money 7 or 8 years down the road...But we need the current buy in to be affordable and VWL is definitely in that category and we would be 100% happy with staying there every time!!!

 

[Sandisw]

BLT is our ultimate goal, but the intial buy in is a little out of our price range. We are trying to get established as a younger married couple and have this paid off within a few years, before the little ones start coming along!

VWL is definitely 2nd on our list, because of its proximity to MK. We spend most of our time there. Due to our work schedules, we really cant go to the WDW during peak times anyways, so there is a chance we will be able to get in at BLT at the 7 month window everyonce in a while. But if we cant, we will have VWL booked at the 11month window and will be just as happy with that.

As far as not worrying about 30 years down the road, I agree to a certain point. My wife is definitely along the lines of "lets not worry" about 30 years. But, in 30 years, we will just be hitting our mid 50's. Again, who knows what will happen between now and then. Hopefully we will own at a few different properties!!

Thanks for all the help, I am hoping we will be DVC members with in a few weeks, if not shorter!

And I can assure you that addonitis will hit you WELL BEFORE THEN so you will have plenty of DVC points to keep you going. It took me only 1 week to catch it last year!!!

 

[88golf88]

It will probably take a little longer to "hit us", unless we find a small fortune under the couch cushions...
If the $$$ was available, we'd be buying at least 160 points at BLT, but baby steps.

 

[Metsoskil]

It will probably take a little longer to "hit us", unless we find a small fortune under the couch cushions...
If the $$$ was available, we'd be buying at least 160 points at BLT, but baby steps.

We started with a 25 pt. VWL contract to add a few on-site days to our off-site timeshare stay that we do every year and get the discounts on APs. (we like to go late August one year, get APs and then early August the next so that our tix are payed for.)

Within 6 months we added on 25 more points directly through Disney, and then about 6 months later bought a 40 pt resale contract that was loaded. Add-on-itis is way more contagious than you think it is before you buy.

 

[DISNEY FIX]

We aren't basing much on that. It was just an observation, but I appreciate the heads up. We are basing our decision on 2 things.
1)-Our absolute love of Disney
2)-Current finances. We are going to be going at least once a year over the next xxx years and we stay the lower end delux hotels anyways. It just makes sense to be saving money 7 or 8 years down the road...But we need the current buy in to be affordable and VWL is definitely in that category and we would be 100% happy with staying there every time!!!

You better write that down for a good giggle in the future. We may save on the rooms, but the rest........food, airfare,spending money, tours, annual passes, events ........oh boy it will add up.
Once a year has turned into 2-3x a year.

 

[tjkraz]

OKW's extension was poorly received for a number of reason. IMO the number one reason was price. At $15 per point it was priced about 3x the present value of an ownership extension which didn't kick-in for another 35 years.

Many people weren't enamored with the methods DVC used to offer the extension. Rather than selling it as a separate entity, DVC legally extended the ground lease on the property and then required that owners who did NOT want to extend complete paperwork which would essentially sell-back those new years to DVC. This approach lead to some very appropriate questions about how capital reserves collections would be handled for people who did not extend--an issue which DVC apparently did not consider before making the offering.

If DVC took the approach of extending other resorts via a separate offering (i.e. pay $___ to buy years 2043 to 2062 at BWV), in many instances they would be handcuffed by local timeshare sales laws. As a separate offering, DVC could only extend members who lived in municipalities to which they were able to sell remotely. Members living in some US states, Canadian provinces and foreign countries would be obligated to take care of all of the paperwork at one of the Disney sales centers. This limitation would undeniably impact the success of such an offering.

If you really like one of the older resorts but are hung up on the expiration date, I'd suggest looking for a really good offer on the resale market. If you can buy BWV now for less than $80 per point, plan to ride that until 2042. Put additional funds aside earmarked for either a reasonably-priced BWV extension or to buy a resale when the BWV ownership ends.

If no extension materializes it would be simple enough to purchase a resale contract at BLT in 2042 which only has 18 years remaining. The price should be relatively small given the close ending date.

 

[Chuck S]

I also think it would tie Disney Resorts hands to extend the resorts that are attached to hotels. They may have other plans for those units by the time 2042 rolls around...maybe making them all cash, or checking them for structural integrity and rehabbing them fully, then selling another 50 year DVC contract on them, rather than extending for 15 years, or they could tear down, rebuild, and sell it as a "new" DVC.

I mean, look at how technology has changed just since OKW opened....high speed internet, flat screen TVs, glass top ranges...who knows how we'll be communicating and cooking in 2042? It may be cheaper and easier to tear down and rebuild rather than retrofit, and they may be seeing some retrofit problems at OKW, fitting the new TVs into the standard TV housings.

 

[hopare]

88golf88,
perhaps you should wait a few months to see if Disney offers 100 point minimum on BLT. You never know, they might offer it, they did last year. I regret not buying then! Like I mentioned we are buying in AKV for 100pts we hope to do a BLT add on soon! That has always been our first choice.

 

[BWV Dreamin]

I also think it would tie Disney Resorts hands to extend the resorts that are attached to hotels. They may have other plans for those units by the time 2042 rolls around...maybe making them all cash, or checking them for structural integrity and rehabbibng them fully, then selling another 50 year DVC contract on them, rather than extending for 15 years, or they could tear down, rebuild, and sell it as a "new" DVC.

I mean, look at how technology has changed just since OKW opened....high speed internet, flat screen TVs, glass top ranges...who knows how we'll be communicting and cooking in 2042? It may be cheaper and easier to tear down and rebuild rather than retrofit, and they may be seeing some retrofit problems at OKW, fitting the new TVs into the standard TV housings.

Your funny! This sounds like the "Million Dollar (Man) Resort"; we can rebuild it, make it better, stronger, etc.