OKW Extension Fees After Buying Contract

[dudelydude]

Because OKW'ers seem to be so passionate about OKW, I really don't understand why they wouldn't pay for the extension to 2057. But, to each their own - not a knock - really. My question is, if I buy an OKW contract in which the current owner has refused to extend (and signed the quit claim deed), will I have the opportunity to pay for the extension after buying their contract?

 

[Be1021]

look at the numbers closely. At that point you may be better off buying direct from Disney which will have the extention on it. Also be sure to add in the closing costs.

 

[5forDiz]

Yes at this point you can still extend if you purchase an unextended resale contract. If I am not mistaken it is presently $20 per point to extend. When first offered it was $15. Our guide expects it to soon be raised to $25.

If you buy OKW directly through Disney you will get an extended to 2057 contract.

Many have decided not to extend due to their age at time extension actually kicks in so to speak, or because they already own other DVC contracts with later expirations (like SSR, AKV & now BLT as well) and also because they'd rather spend $ it would cost to extend on an add-on contract giving them points that are available to use now. Others feel the price to extend is higher than what they are willing to pay.

 

[dudelydude]

Thank you....excellent point.

I knew the price per point to extend, but didn't really think about it...I can see where OKW owners might be miffed about these costs. But, I have also just read (one person's opinion of course) that OKW is really showing it's age and needs refurb, thus needing refurb dollars.

Thanks for the advice on considering buying through Disney with the contract already extended...I just see so many tempting deals on resales, but not on extended contracts.

Joe

 

[5forDiz]

Thank you....excellent point.

I knew the price per point to extend, but didn't really think about it...I can see where OKW owners might be miffed about these costs. But, I have also just read (one person's opinion of course) that OKW is really showing it's age and needs refurb, thus needing refurb dollars.

Thanks for the advice on considering buying through Disney with the contract already extended...I just see so many tempting deals on resales, but not on extended contracts.

Joe

Finding a great deal on an unextended resale may be a good way to start off in DVC even if it is a small contract ; you probably already know that you can become a DVC member buying a re-sale contract that contains less points then Disney's minimum point buy-in on a first purchase.

Then you can do add-on's at any resort(s) directly through Disney ( 25 point minimum purchase) or you can purchase additional contracts on the resale market.

As far as OKW showing its age, I think that it tends to be thought of that way because it is the original DVC resort. We own a contract there, maybe we are a bit biased because of that, or maybe we've just been lucky, but honestly we have never experienced a stay in any OKW villa that we felt was in shabby or unacceptable condition. They all were on par with other DVC resorts we've stayed at (BWV, VWL, HHI, VB). I know some people have had complaints but you will find that at all DVC's for one reason or another. All DVC resorts are on a pretty regular rehab/refurb schedule so maintenance should not be an issue at any of them.

Good luck on your planning !