OKW ? 2042 or 2057

[PearlyJoy]

What would buy if you were to buy OKW ? A contract that ends 2042 or 2057 ?

Pros and Cons ? Any other thought ? I see my use year with 50 points which is ideal for an additional home resort plus SAP in OKW. But I am questioning the 2042 expiration, since I know 2057 contracts are out there.

Any insights ?

Thank you in advance

 

[JETSDAD]

Personally I'd rather have a longer contract. There really are no benefits to a 2042 other than price.

 

[The Jackal]

If you can find a small resale with 2057 expiration, the price difference is minimal, less than what it cost the owner to upgrade per point. If you buy direct they will be 2057. With the higher prices on most small resale contracts, especially OKW and SSR, the direct prices can be within a few hundred dollars. I believe a little under 30% of OKW has been extended to 2057.

 

[Red Dog Run]

I own both. 140 pts 2042 and 100 2057. Since I'll be 73 in 2042, well, it doesn't matter to me.

 

[GrtDisGuy]

I think it depends on your specific circumstances and price willing to pay. For me, I like the 57 contract, which is bit harder to find on resale. Direct will cost a bit more, but are all 57. Pro for 42 - shorter term, lower cost - Con for 42, shorter term, can't use at Riviera since resale. Pro for 57 - longer term, can get direct, sometimes not priced too much higher on resale, may hold value compared to 42. Con for 57 - longer term, higher costs, hard to find on resale.

 

[Bearval]

What would buy if you were to buy OKW ? A contract that ends 2042 or 2057 ?

Pros and Cons ? Any other thought ? I see my use year with 50 points which is ideal for an additional home resort plus SAP in OKW. But I am questioning the 2042 expiration, since I know 2057 contracts are out there.

Any insights ?

Thank you in advance

I would go for the OKW 2057 contract if you can find one. They are not that much higher in price and will hold onto their value much longer. The 2042 contracts will start their price drops when there are less than ~ 10 to 15years left before expiration.

 

[MD850]

What would buy if you were to buy OKW ? A contract that ends 2042 or 2057 ?

Pros and Cons ? Any other thought ? I see my use year with 50 points which is ideal for an additional home resort plus SAP in OKW. But I am questioning the 2042 expiration, since I know 2057 contracts are out there.

Any insights ?

Thank you in advance

Absolutely 2057 if the same cost but 2042 is fine too.

 

[chalee94]

2042 owner questions involve how we will be certain that DVC is not charging us annual dues that involve benefits that extend beyond 2042.

DVC's Old Key West Extension Ordeal | The DIS Disney Discussion Forums - DISboards.com

I do know that at least one OKW owner did get a concession from DVC that payment into the Capital Reserve fund (for all owners) will be curtailed at some point near the end so that owners without the extension are not contributing any more $$ into the fund for dates beyond 1/31/42. So, according to that, those who expire 1/31/42 will have lower dues at some point than those who own the extension.

Stay Tuned.

There are some uncertainties for 2057 owners related to how Disney might handle owning half the resort (if it comes to that). While they technically should be limited by unit numbers, they may try to finagle things to shutter part of the resort... Alternatively, they could try to rent their units for cash or turn part of the resort into short term housing for cast members or something. But it could be a mess if they don't step up their ROFR and direct sales turnover with OKW...

 

[The Jackal]

2042 owner questions involve how we will be certain that DVC is not charging us annual dues that involve benefits that extend beyond 2042.

DVC's Old Key West Extension Ordeal | The DIS Disney Discussion Forums - DISboards.com



There are some uncertainties for 2057 owners related to how Disney might handle owning half the resort (if it comes to that). While they technically should be limited by unit numbers, they may try to finagle things to shutter part of the resort... Alternatively, they could try to rent their units for cash or turn part of the resort into short term housing for cast members or something. But it could be a mess if they don't step up their ROFR and direct sales turnover with OKW...

I don’t think they can take buildings out of service. Contracts are deeded to different buildings. I believe just under 30% of OKW is already extended, so I would assume at least a little bit of every building has been extended.

 

[chalee94]

I don’t think they can take buildings out of service. Contracts are deeded to different buildings.

That's why I put that the way I did.

 

[GrtDisGuy]

2042 owner questions involve how we will be certain that DVC is not charging us annual dues that involve benefits that extend beyond 2042.

DVC's Old Key West Extension Ordeal | The DIS Disney Discussion Forums - DISboards.com



There are some uncertainties for 2057 owners related to how Disney might handle owning half the resort (if it comes to that). While they technically should be limited by unit numbers, they may try to finagle things to shutter part of the resort... Alternatively, they could try to rent their units for cash or turn part of the resort into short term housing for cast members or something. But it could be a mess if they don't step up their ROFR and direct sales turnover with OKW...

Very interesting thread you attached. Thanks for sharing - really enjoyed reading. I do believe whatever they do, we will be pretty happy with it. Disney always does things very well compared to others and will have an interest of making money on a very nice property. It is really fun to contemplate different outcomes though. And how interesting and fun to see old comments and speculation from years ago - and even someone speculating they will not be able to function at 70 years old .

 

[mamaofsix]

What would buy if you were to buy OKW ? A contract that ends 2042 or 2057 ?

Pros and Cons ? Any other thought ? I see my use year with 50 points which is ideal for an additional home resort plus SAP in OKW. But I am questioning the 2042 expiration, since I know 2057 contracts are out there.

Any insights ?

Thank you in advance

To be honest, the answer to this totally depends on your age, how long you want to use the contract, and how much you want to pay for it in the end. For our family, a 2042 would make more sense. We're pushing 40 and would not be using a contract 35 years from now.

People who say a 2057 contract is "cheaper in the end" are in error - your annual dues are what are the most expensive part of the contract, not your initial buy-in spread over number of years. By buying 2042, we'd be saving tens of thousands of dollars in dues.

 

[JETSDAD]

To be honest, the answer to this totally depends on your age, how long you want to use the contract, and how much you want to pay for it in the end. For our family, a 2042 would make more sense. We're pushing 40 and would not be using a contract 35 years from now.

People who say a 2057 contract is "cheaper in the end" are in error - your annual dues are what are the most expensive part of the contract, not your initial buy-in spread over number of years. By buying 2042, we'd be saving tens of thousands of dollars in dues.

By buying 2057 you would have something that could still be sold when you're done with it and will hold its value longer. You don't have to keep it until the end.

 

[Deb & Bill]

Who knows what OKW will be like on Feb 1, 2042? With the majority of contracts still not extended (unless Disney takes all resales by ROFR), the resort will be partially open and partially closed for stays.

 

[mamaofsix]

By buying 2057 you would have something that could still be sold when you're done with it and will hold its value longer. You don't have to keep it until the end.

I'm not so sure you'd be able to sell it for much with only 10 or 15 years left on the contract. 10 years from now, if BCV and BWV are still holding their value, that would be a good predictor.

 

[JETSDAD]

I'm not so sure you'd be able to sell it for much with only 10 or 15 years left on the contract. 10 years from now, if BCV and BWV are still holding their value, that would be a good predictor.

I guarantee that a contract with 15 years remaining will sell for more than a contract with zero years left.

 

[The Jackal]

By buying 2057 you would have something that could still be sold when you're done with it and will hold its value longer. You don't have to keep it until the end.

I agree if you sell it in 10 years a 2042 contract should be going for a lot less than a 2057. 11 years left compared to 26.

 

[RoseGold]

I own both. 140 pts 2042 and 100 2057. Since I'll be 73 in 2042, well, it doesn't matter to me.

Hey, if you bought your 2042 direct, who knows what will happen in 2042!