How much would it cost to live at O.K.W.

[Richnj]

Has anybody try to fiqure out how much it would cost, or how many points you would need to live at O.K.W. Can you imagine missing a reservation!

 

[ez]

You know, I've wondered about that myself...how much it would cost to live at a dvc resort. I know we have a lot of statistical whizzes on this board, so how about it guys? Is it a fantasy...or reality based fiction(as my daughter would say) Get out your calculators!

 

[TigrLvsPooh]

2214 points for a studio for one year! (according to my DVC calculator)

 

[TigrLvsPooh]

6105 points for a 2 bedroom at OKW for a year! LOL

 

[PamOKW]

But, don't get any ideas. DVC has it written into the contract that we can't make DVC our permanent residence.

 

[drusba]

Only limitation to realizing your dreams: maximum number of points you can own at any one resort is 2,000, and 5,000 total combined all resorts.

 

[mooses41]

Only limitation to realizing your dreams: maximum number of points you can own at any one resort is 2,000, and 5,000 total combined all resorts.

True, but I believe that a husband and wife could each do this seperately and therefore have 10,000 points total.

DVC has it written into the contract that we can't make DVC our permanent residence

True, but I believe the rule is you can't stay @ one resort for more than 30 consecutive days and can't claim residence (get your mail, etc.). You could get a po box and stay at another resort for a weekend then start over for a month @ home.

 

[Disney Adventurer]

OK let's assume it's your home, a two bedroom home at that. Now you've got the inital purchase of 2105 points at lets say $65/point. That would be $136,825. So you get a 30 year note at 7.5% making your payment about $957/mn. Of course you wouldn't have any taxes or insurance to pay but you would have the maintenance fee. I'm not an OKW owner so correct me if I'm wrong but I think the fee is $3.13/pt making your yearly maintenance $6,589/yr or $550/mn. So total monthly cost to live in a two bedroom at OKW would be $1507. I would suspect this is lower than most of our mortgage payments when you take into account taxes and insurance. But of course in 2042 you'll be looking for a new home. But by then most of us will be heading for the old folks home anyway. Hey there's an idea. Do you think DVC will come out with a DVC retirement home for all of us who expire in 2042.

 

[Caskbill]

2214 points for a studio for one year! (according to my DVC calculator)

6105 points for a 2 bedroom at OKW for a year! LOL

Don't know what calculators you were using but those numbers are way off. For example 2214 divided by 365 is only an average of 6 points per night for a studio. That's tough to do when the lowest is 8 points Sun-Thur in Adventure Season, and goes as high as 36 points/night Fri-Sat during Premier season.

6105 divided by 365 is only a 16.7 point/night average. Again an incorrect number.

My spreadsheet program takes about 1/2 second to calculate a full year. So here's the results to have booked all of the year 2002. (BCV and VWL would be same as BWV preferred)

Studio OKW (5116), BWV preferred (6433), VB(6282), HH (5285)

1-B/R OKW (10,256), BWV preferred (12,855), VB (11,572), HH (10,256)

2-B/R OKW (13,975), BWV preferred (16,723), VB (15,709), HH 12,960)

GV/BC OKW (23,158), BWV (36,344), VB (28,160), HH (22,706)

 

[CK1]

I met an elderly couple while walking around the OKW property (in Jan 2001). We struck up a conversation, and I learned that they were on month #3 of a 4 month stay! Apparently they live at OKW for the winter every year! Said it was easier (& better!) than getting a condo in Fla like some retirees do...

Lucky THem!

Cindy

 

[Caskbill]

So total monthly cost to live in a two bedroom at OKW would be $1507

Actually you were trying to use the Studio numbers for a 2-B/R, but even at that the original numbers posted that you used were incorrect. Maintenance fees at OKW I think are about $3.20 which makes it just under $45,000 / year.

So maintenance fees actually come out to $3, 720 / month.

Of course the original purchase, if you could get it at $65/point actually comes to $908,000. Using your 7.5% 30 year mortgage, that would make monthly payments of $6350.00.

So your actual monthly expenses to stay in an OKW 2-BR unit would be $10,070.00 / month.

I think that's higher than everyone here's regular mortgage payments.

 

[eva]

I just ran a 1-bedroom at OKW through my loan calculator and with a 6.5% rate you would only need about $7000 a month with dues. That's nearly $84,000 a year with payment and dues. I guess that I better start saving now. It sure is a nice dream!

 

[Nanajo1]

How difficult will it be to book 11 months out for a 3 month stay? Or should I book day by day ? Disney dreaming.....

 

[joepoe]

Originally posted by Disney Adventurer
OK ... of course in 2042 you'll be looking for a new home. But by then most of us will be heading for the old folks home anyway. Hey there's an idea. Do you think DVC will come out with a DVC retirement home for all of us who expire in 2042.

If I expire in 2042, I will not need a DVC retirement home! LOL!
BTW, in 2042 I will be a spry 91 years old!

 

[mom2boys]

Well, I do have a ticket for the Mega Millions jackpot tonight with an estimated jackpot of $165 mil. You can bet the first words out of my mouth would be "We're going to DisneyWorld". With that kind of $$ maybe I could live in Grand Villa at BW. I am grinning just thinking about it. (A gril can dream!)

 

[mikesmom]

Actually, when we first were considering DVC we were staying on cash at BWV and were asking around about how people liked their membership. (Before I discovered these boards!).

The CM in the gift shop at BWV introduced us to a man that happened to be in the shop at the same time. Apparently, he had enough points that they'd spend a couple of weeks at BWV, then a couple at Vero, a few at HH, then start over at some of the WDW homes. I don't remember how many points he had, but it must have been a TON. It didn't sound like he EVER went back home.

Actually, talking to him almost talked us out of it. We felt afterward like we'd been talking to the Stepford wives, LOL

 

[TigrLvsPooh]

Oops... Sorry Caskbill! I just entered it again and it came back with 13,934 points! I don't know what I entered the first time... probably the wrong date.

 

[PamOKW]

Erika, your first amount was just wishful thinking on how we could pull this off.

Mom2Boys -- You took the words right out of my mouth. I guess one of us will just have to win tonight so we can put this plan into action.

 

[joepoe]

DW and I discussed staying in a studio for the month of January after the kids are all growed up in about 15 years. Always something different to look forward to with our DVC ownership.