Kingdom Tower is FINALLY (almost) a reality..please help!

[thelionqueen]

Ok, so it's been 2 years of speculating, hoping and wondering if Kingdom Tower was really going to happen...FINALLY...my ULTIMATE Disney Dream is going to come true. So here's my question.

We are planning on buying 2 150 point contracts right off the bat (1 for each son to inherit). How much do we need to have ready when the "Official" announcement is made? Are we going to have to pay 2 closing costs? If I remember correctly, isn't it like 10% down for Disney financing?

I know many will discourage financing this purchase, but it is the only way we can get the amount of points we want. I honestly don't think adding on "down the road" is going to happen; so I want to get it out of the box.

We have been saving for awhile now, and I'm estimating we will need around $4,000 "ish"...you think this is a close estimate?

I can't believe it's FINALLY happening..I am just totally and completely BEYOND happy!!! This is TRULY my ultimate Disney Dream, and it's going to be mine..somebody pinch me..am I dreaming?? Thanks for the advice!

 

[Buckeye Fan]

How exciting for you!!! For the record, though I won't add on points there, I think KTV will be AWESOME. We were there a few weeks ago, and it's moving right along. I know most people will want a magic kingdom view, but I bet the view of the lake will be unbelievable!!!

Okay...to your question. Say points are $110, you'll probably need the following:
$3,300 for a downpayment
$100 - $300 for closing (forgot what the exact amount is)
$1,200 for MFs

More than likely, DVC will run some kind of incentive to buy, which may or may not help towards your downpayment. It just depends.

Bottom line, I'd try to have about $4,500 earmarked. Also, if you own a home, check with your mortgage company on loan options. Rates are significantly cheaper than through Dis.

Best of luck and wishing you a VERY early WELCOME HOME!!!

 

[Desnik]

I thought when you buy directly through DVC you don't pay closing costs. Also, you don't have to pay the dues up front for the year. You can pay them monthly.

We are also very excited about KTV and will be adding on there. I would really think about how many points you are buying. I would expect the points to be higher than what they currently are at let's say, BCV. For example, I would imagine a MK view at KTV would cost a lot of points per night, even in the off season. That's just MHO.

We also financed our DVC and I do believe we had to put 10% down.

 

[the who #3]

i just talked to may guide 3 days ago and she said they don't know anything about sales yet.

please let me know where you got the almost ready to sale info.

i am on pins and needles!! i can not wait.

wonder what sort of incentive dvc will offer. when i purchased thru dvc they paid the closing cost. i think it was just cost per pt, tax, and a small fee to have your deed recorded. but then i may be wrong, after all it has been a little while since akv started to sell and sometimes my memory escapes me.

does anyone know if they will have a concierge level?

 

[Judy WI]

I thought when you buy directly through DVC you don't pay closing costs. Also, you don't have to pay the dues up front for the year. You can pay them monthly. .

You pay closing cost to Disney now on the first purchase, I believe it is a set amount no mater how many points. Any add on later are with out closing costs. This was a change in the last couple of years.

 

[Eeyoreloverforever]

But what is Kingdom Tower?

 

[Monorail Purple&Gold]

I thought when you buy directly through DVC you don't pay closing costs. Also, you don't have to pay the dues up front for the year. You can pay them monthly.

There are closing costs, I think ours was between $300 and $400 (bought in last month). It was absorbed into our down payment, so to speak.

 

[louisianatigger]

RUMOR on another site form someone in the KNOW says KT will go own sale JULY 1st. Think this could happen? Said sales were real slow. Lot of old guides left after restructor of pay and if sales stay slow they want meet their goals for this year. So if KT starts to sale by july they should be fine for this year and next. Also claims to have seen documents on DVC for POLY and GF.One more thing said to expect 8 mth. sell out of KT.

 

[spiceycat]

But what is Kingdom Tower?

the tower that is going up next to the CR.
the full name
is KT @CR

Kingdom Towers at Contemporary Resort

hoping for Disney Towers, or Magic Towers, or WDW towers, or even DVC towers, even CR towers...

but anyway have to live with what they picked.

 

[spiceycat]

RUMOR on another site form someone in the KNOW says KT will go own sale JULY 1st. Think this could happen?

don't know.

but generally they announce something and sales start in 6 months.

since the building won't be finished inside and outside until 2009 at the earliest - just don't know

I expect the annoucement this May and sales to begin in 2009.

but hey everything is just guess work.

8 months to sell out KT - don't know - that might be one reason to make the annoucement later. more anticipation.

something is going up - now what?

 

[DW-Admin]

money in hand...... waiting to buy another 160 on top of my 160 at SSR..... now all we can do is wait and hope

 

[louisianatigger]

the tower that is going up next to the CR.
the full name
is KT @CR

Kingdom Towers at Contemporary Resort

hoping for Disney Towers, or Magic Towers, or WDW towers, or even DVC towers, even CR towers...

but anyway have to live with what they picked.

On other site rumor Say's " NO WAY ON NAME CHANGE"

 

[louisianatigger]

RUMOR.....expect 8 mth sell out, NO incentives No early sells for DVC members. Will go on sell to everyone at the same time.

 

[WALTSAGOD]

On other site rumor Say's " NO WAY ON NAME CHANGE"

Whats that mean?

 

[DVC Mike]

RUMOR on another site form someone in the KNOW says KT will go own sale JULY 1st.

I think the rumor from "Deep Croaker" said KTR would be announced on July 1.

 

[louisianatigger]

296 unites at KT. How many points will they have to sell and how will that compare to other resorts?

 

[WALTSAGOD]

RUMOR.....expect 8 mth sell out, NO incentives No early sells for DVC members. Will go on sell to everyone at the same time.

They won't have to offer any incentives, but an advance buy in to DVC members would be a nice perk that should be offered; they don't lose anything.


I'd still rather POLY.

 

[WALTSAGOD]

296 unites at KT. How many points will they have to sell and how will that compare to other resorts?

Anyone?

 

[Monorail Purple&Gold]

296 unites at KT. How many points will they have to sell and how will that compare to other resorts?

Puts KT in between BCV and BWV for units.

 

[louisianatigger]

I think the rumor from "Deep Croaker" said KTR would be announced on July 1.

On other site post #75 "DEEP CROAKER" SAY'S HE FEELS THE ANNOUNCEMENT DATE WILL BE THE SALES START DATE, OR WITHIN TWO WEEKS OF JULY 1st. Let me say I give all credit for this information to" DEEP CROAKER " PRETTY GOOD STUFF !!!!!!!