OKW extension question...

[matosfam]

We are considering an OKW resale and have seen some listed as extended and some not...
Was this merely an option for OKW owners?
What does it really mean (other than more years on the contract) and do you think it matters?

Thanks for helping this newbie!

 

[browniemtb]

We are considering an OKW resale and have seen some listed as extended and some not...
Was this merely an option for OKW owners?
What does it really mean (other than more years on the contract) and do you think it matters?

Thanks for helping this newbie!

OKW owners were given the option of extending their contracts another 15 years....I forget how much per point though. Other then more years to use the property and maybe help aide in resale price it doesn't mean that much. But thats my opinion and I do not own at OKW. I guess if you were going to break down the true cost of ownership the extra 15 years will give you more time therefore reducing your mathmatical yearly expense. With BWV I figure I will be Disney'ed out by 2042 so I wouldn't opt for an extension if it were to be offered. So to sum this up.....do I think it matters...no...but thats only my opinion and there are plenty more in this forum. Good luck on you resale hunt.....

 

[chalee94]

Was this merely an option for OKW owners?

yes. i think initially it was $15 per pt, then moved to between $20-25 per pt. i didn't think it was worth it, regardless.

opinions vary whether other DVC resorts will eventually offer an extension. my personal guess is "no."

What does it really mean (other than more years on the contract) and do you think it matters?

if you'll be too old to care after 2042, it's not worth a dime. if you are younger and love OKW, it might be worthwhile...

i would buy more of the cheaper OKW-42 pts that i could use over the next 30+ years than pay more for OKW-57 pts. YMMV.

 

[dianeschlicht]

The cost last year for us to add on the 15 years was $15 a point, and is currently $20 a point. For us, it made no sense to pay an extra $6000 for something we will never use! We have no immediate plans to sell, and even if we did, the sales price of an extended contract certainly isn't $15 per point higher than a non-extended one. We will be 95 and 96 when the original contract expires. If my adult kids care to DVC beyond that, they are going to have to get their own!

 

[Caskbill]

Keep in mind that in 2042 OKW will be 50 years old. By the time the extended contracts expire, the resort will be 65 years old.

No telling what kind of maintenance will be required those last 15 years as the buildings age.

My understanding is that about 30% of OKW owners actually purchased the extended years. So in 2043 what happens to that 70% of the buildings no longer owned by DVC members?