I can't believe the cost of add on at OKW

[walter]

I spoke with a guide yesterday about an add on at OKW, and he told me that I should do it soon, for the cost per point is being increased to $80! If it is an established/sold out resort, why should we pay so much more for add ons? I probably know the answer, but am afraid to hear it.
Maybe I should have taken the points I was recently offered privately (but wrong use year).

 

[CarolMN]

One could say that the $80 price is simply due to "supply & demand" or what the market will bear. Many people are willing to pay $80/point. As you say, you may be able to do better on the resale market.

It may not make you feel any better, especially if you always stay at OKW, but OKW points can be used at any DVC resort. IOKW points have the same value as any other point when used for non-DVC options.

Those who bought in several years ago will, on the average, pay less for their accomodations (over the term of the contract) than those who buy in now or in the future. Aren't you glad you bought when you did?

 

[Firefighter Mickey]

DVD doesn't care what resort the points are sold at, so it's going to be $80/point regardless of whether you add-on at OKW or any of the other resorts.

The price increase simply reflects the market - since people are willing to pay that price (in general), DVD can charge it.

The argument that OKW is an established resort doesn't really apply here - people that purchase points today clearly don't get as many years of use as people that purchased 10 years ago, yet the price per point has not gone down because of this aspect either.

 

[Michelemouse]

Basically, they charge the $80 per point because they can get the $80 per point. Also, DVC has always had the policy that the point price is the same at all resorts. If they are charging $80 at one they charge $80 at all...although they do sometimes offer incentives for slower-selling properties.

We bought into OKW at $62.50 per point. We've added on there once at $67.50 per point. Now the points are $75 per point and we are hoping the waitlist comes through so we can add one one last time...even at that price. If it does not come through before the price increase we will look for a 150 point resale.

If you are interested in a smaller resale contract call the resale brokers and get on their call list. Often the smaller contracts are sold without every being publicized because they are in such demand.

Michele

 

[Nanajo1]

We have added on 3 times at OKW, once throigh Disney and twice with The Timeshare Store. I would check out that site and call and ask to be put on a call back list if something in your use year comes up or any other contract you might be interested in. The only difference we found was you must wait for your deed to be recorded before you can use the resale points. Good luck.

 

[Disney Doll]

We bought OKW at 62.50/point. If we were to add on there, it would be through The Timeshare Store, not through Disney at 80.00/point!

 

[robinb]

Make sure that you take into account closing costs associated with buying a resale. You will pay a greater amount on a per point basis in closing on an add-on than a larger contract. The good news is that you don't have to wait for your use year on a resale. You can add-on any use year that works for you.

 

[DebbieB]

Originally posted by robinb
Make sure that you take into account closing costs associated with buying a resale. You will pay a greater amount on a per point basis in closing on an add-on than a larger contract. The good news is that you don't have to wait for your use year on a resale. You can add-on any use year that works for you.

Can you get a resale for less than 150 points with a different use year? I thought DVC only allowed a different use year if it was more than 150 points.

 

[Firefighter Mickey]

Originally posted by DebbieB


Can you get a resale for less than 150 points with a different use year? I thought DVC only allowed a different use year if it was more than 150 points.

There have been mixed reports on this. In fact, I've seen reports of people that weren't previously members purchasing a contract of less than 150 points.

 

[Dean]

Originally posted by Firefighter Mickey


There have been mixed reports on this. In fact, I've seen reports of people that weren't previously members purchasing a contract of less than 150 points.

There have been though buying less than 150 points that weren't a member previously and also those that bought less than 150 pts for a use year other than the one they owned already. Still, I suspect DVC is more likely to buy it back if it fall into one of these categories. DVC themselves won't sell less than 150 as the starting point. An as noted, the additional costs are magnified on smaller contracts. Still, if the numbers work out and you're willing to take the chance on having the rug pulled out from under you, give it a try. I'm still waiting on the BW contract at $54 pp with seller paying closing and no rebate for maint fees. There's no points until this December that that didn't bother me as long as the dollars work out with that in mind. We'll see if DVC buys it back or not. I'm willing to take my chances and I won't buy at the higher price, even at $60 pp.

 

[ilovebwv]

You can get a resale for OKW way cheaper than through Disney's add on. We have a 450 pt contract at OKW that we are trying to sell at much less than Disney prices. We have had this contract for sale for a while and hopefully (cross our fingers) we now have a buyer. Call the timeshare store. TUG and Florida real estate/timeshare agencies you will find resale $ much lower than Disney $ especially for OKW and VB.