OKW ext. ?'s..

[bribert]

Hi, all.
We just closed on our OKW re-sale last week & I have a few quick questions...
1-why have so many people said no to the extension. It seems like a good price for 15 additional years, but am I missing something? I'm 32 & my wife's 30, kids are 6 & 4, so those extra 15 years are something we're looking at for future trips with grandkids. Are most people's decisions based on their age/income/something else?
2-If the original owner already said no to the extension, does that effect our ability to accept it?
3-OR, would you take the $ instead & buy additional points at another resort, say AKV, which already has a later end date, to use in the future when we outgrow studios & need a 1 bedroom?
Thanks for your help!!

 

[dcamdad]

As an owner who has declined the offer (and still awaiting paperwork) I initially liked the idea of the extension but ultimatly decided the money for the extension would be better off used as money towards a newer DVC resort. My first thought was AKL but we have been holding out and awaiting any announcement for KT. We are in our early 40's with four kids ranging from 20 to 9 and have owned OKW since 1996,yes we would like have DVC available for our kids and future grandchildren, just waiting on any announcement for future DVC resorts.

 

[BillPA]

We did not extend. I felt that the price was way too high. I get no bennifit from those points until 2042, some 34 years from now. That $15 a point in an average fund should grow to $45,000+ for my 220 OKW point by then. I decided to use the money now to add on and points to use for the next 34 + years. Any way I will be "worm food" by then anyhow.

 

[Chuck S]

At my age, without any young children in the family, it just made no sense to extend. I'll be 84 in 2042, if through the magic of medical science I am still happy and healthy enough to enjoy it, I may extend then...depending upon the price.

 

[dianeschlicht]

We did not extend either. We will be 95 and 96 (should we be so lucky), and to pay now for something we either wont ever use, or see a usefulness for made no sense to us. Even our "children" will be past retirement age at that time, so we decided NOT to saddle them with the maintenance dues. I would much rather take $7600 and buy additional points I can use NOW.

 

[jodifla]

We extended. We have a young son, and he might want it.

And, if we want to sell, it will be better to have an OKW with more years on it.

 

[dianeschlicht]

We extended. We have a young son, and he might want it.

And, if we want to sell, it will be better to have an OKW with more years on it.

I suspect that is true if you plan to sell in the not too distant future, but since we are going to be mid 90's when the original contract expires, the additional 15years does nothing for us or our "children". We have no intention of selling, and either we or the "kids" will run it out to its end. Since I'm pretty sure I wont be living until the ripe old age of 110, I think I'll just let THEM decide what to do with it!

 

[Deb & Bill]

I'll be almost 92 when the Jan 31, 2042 date hits. I have no need for the extra 15 years. If my son wants them, he can buy them himself. He'll probably sell the remaining contracts for whatever he can get for them to keep his father and me in the nursing home for a few more days. I have no desire to spend $15 a point (original offer) or $20 a point for the revised offer at this time for something none of us may even use. We've already gotten over 10 years out of our original OKW contract.