OKW thru resale or Disney

[vikkii19]

So we'd been pondering DVC for a while now and decided to take the plunge. I was originally looking for resales, but most OKW contracts expire in 2042.
Now we're both in our mid 20's and would want a contract until 2057. If I buy a contract that ends in 2042 for about $60/pt and want to add the years at $25/pt, then it would cost about $85/pt.

Would I just be better off buying direct from Disney at $101 with an $11/pt discount so technically $90/pt.

We're from Canada and have to buy while in Disney so I have to decide what is best before our trip in November.

I have been looking for OKW resales that end in 2057, but they are rare and usually aren't the amount we are looking for, or are really stripped.

What would you experts do?

 

[lugnut33]

Remember, as soon as you purchase that contract direct through Disney the real value of that contract is the resale value you are seeing out there in the resale market. Get ahold of one of the resale brokers and tell them you what you are looking for, they will go to the ends of the earth to find you an extended OKW contract that fits you.

 

[JimMIA]

So we'd been pondering DVC for a while now and decided to take the plunge. I was originally looking for resales, but most OKW contracts expire in 2042.
Now we're both in our mid 20's and would want a contract until 2057. If I buy a contract that ends in 2042 for about $60/pt and want to add the years at $25/pt, then it would cost about $85/pt.

Would I just be better off buying direct from Disney at $101 with an $11/pt discount so technically $90/pt.

This question is the same question all existing owners faced a couple of years ago when we were offered the 15-year extension -- for $15 per point, incidentally, not the $25 per point they are charging now.

VERY few OKW owners purchased the extension for one very simple reason. Most of us did not feel that the extension was worth $15.

The rationale for that decision was if we wanted to put more money into DVC, we'd much rather spend it on more points NOW than for points we don't even start to get until 2042. The points between now and 2042 would have much more value to us than points after 2042.

I know the longer-duration contracts are hyped by DVC timeshare salespersons (for their benefit, not yours). But I guarantee you two things:

1. NONE of us have any idea what we'll be doing 32 years from now.
2. And...there will be opportunities to purchase DVC in 2042, and probably carrying far beyond 2057-2060. If there aren't, DVC won't be worth owning beyond 2042.

So, my personal advice is put your money where it will do the most good. Get points you can use NOW.

If you take that point of view, the $30-$35 per point savings makes resale the obvious choice to me.

We're from Canada and have to buy while in Disney

That's not correct. Disney is not allowed to sell in Canada, so if you want to buy direct from Disney, you have to do it at one of their sales locations in the US.

However, you can purchase resale from home, and many, many Canadians have.

 

[KerTggr]

I think Disney has a waiting list of people trying to purchase OKW points (or at least they did this summer when my DH & I talked to them about this possibility). We ended up going SSR through resales as we like OKW and will likely use points there since my sister has points there, but SSR is nice too. We always get a GV so those are the 2 best resorts for us.

 

[Disfamoffour]

We bought OKW direct from disney because we wanted a 2057 expiration. We used two brokers who could not find us anything so they both tried to steer us towards SSR or BLT which we did not want. Our guide had exactly what we wanted and closing was painless. We wanted to buy resale for a cheaper price but we did not want to compromise on what we wanted. Everyone says you won't know what you're going to be doing in 2043, we'll be in OKW.

 

[6bowmans]

This question is the same question all existing owners faced a couple of years ago when we were offered the 15-year extension -- for $15 per point, incidentally, not the $25 per point they are charging now.

VERY few OKW owners purchased the extension for one very simple reason. Most of us did not feel that the extension was worth $15.

The rationale for that decision was if we wanted to put more money into DVC, we'd much rather spend it on more points NOW than for points we don't even start to get until 2042. The points between now and 2042 would have much more value to us than points after 2042.





I know the longer-duration contracts are hyped by DVC timeshare salespersons (for their benefit, not yours). But I guarantee you two things:

1. NONE of us have any idea what we'll be doing 32 years from now.
2. And...there will be opportunities to purchase DVC in 2042, and probably carrying far beyond 2057-2060. If there aren't, DVC won't be worth owning beyond 2042.

So, my personal advice is put your money where it will do the most good. Get points you can use NOW.

If you take that point of view, the $30-$35 per point savings makes resale the obvious choice to me.

I'm with Jim on this. The initial offer of $15 was IMO a break even deal ($1 per pt per yr) for an extension 30 some odd years down the road. At $25 per point, thats $1.67 per year per point. Most of the resales for Disney DVC resorts are about $2 per pt per year remaining on the contract (for example, VWL is around $70/pt with 32 years remaining ) and those are points you can use NOW.

Besides you may want to save that $25/pt money for when you get the inevitable case of addonitis - it's not a question of if, but when.

 

[JimMIA]

I think Disney has a waiting list of people trying to purchase OKW points (or at least they did this summer when my DH & I talked to them about this possibility).

I'd be absolutely astounded if that were really the case. MUCH more likely, IMHO, is that your DVC timeshare salesperson just didn't want to sell OKW because they had better financial incentives (for the timeshare salesman, not you) to sell you something else.

I remember about 3 years ago, we got emails from DVC saying they had X# of points in our Use Year available. Others got the same emails, and when they were posted on the DIS and added up, DVC had more than 100,000 OKW points to sell.

And that was long before they started taking back a lot of contracts because people couldn't make the payments or pay the maintenance fees.

 

[Deb & Bill]

This question is the same question all existing owners faced a couple of years ago when we were offered the 15-year extension -- for $15 per point, incidentally, not the $25 per point they are charging now.

VERY few OKW owners purchased the extension for one very simple reason. Most of us did not feel that the extension was worth $15.

The rationale for that decision was if we wanted to put more money into DVC, we'd much rather spend it on more points NOW than for points we don't even start to get until 2042. The points between now and 2042 would have much more value to us than points after 2042.

I know the longer-duration contracts are hyped by DVC timeshare salespersons (for their benefit, not yours). But I guarantee you two things:

1. NONE of us have any idea what we'll be doing 32 years from now.
2. And...there will be opportunities to purchase DVC in 2042, and probably carrying far beyond 2057-2060. If there aren't, DVC won't be worth owning beyond 2042.

So, my personal advice is put your money where it will do the most good. Get points you can use NOW.

If you take that point of view, the $30-$35 per point savings makes resale the obvious choice to me.That's not correct. Disney is not allowed to sell in Canada, so if you want to buy direct from Disney, you have to do it at one of their sales locations in the US.

However, you can purchase resale from home, and many, many Canadians have.

Exactly the reason we didn't add on the extra 15 years. I'd be over 100 years old when the extension ended and I don't want to saddle my teen aged son with the load. We'll probably just sell off our points in the next few years or so anyway.

 

[a742246]

vikki19
I would speak to one of the guys or girl at timeshare store or Jaki at dvcresales and tell them what you are looking for. They come across OKW 2057 exp all the time. Some of their contracts don't even make it to their web-site.

 

[briangli]

We were at OKW in May, and our guide was happy to sell us all the points we wanted at $95.

In the resale market, it took less than 3 weeks to find the same points at $53.

In the past, the "X" factor was ROFR, and the hassle of waiting a month to find out if a deal would close. But there has been very little ROFR action from DVC lately.

Like others, for me, 15 extra years doesn't add enough resale value to justify the price difference.

 

[vikkii19]

Well thanks everyone, I took your advice and spoke with Jason from the timeshare store. Hopefully I'll find something there.

 

[stefsko]

go with disney

 

[holidaygirl]

Disney IS ALLOWDED to sell in Canada, they are able to sell in Ontario as they have a license in that province. Disney also allows you take back your contract to Canada and think about it for one week as long as the paper work has been started in the States. My family took this route by having the paperwork started and then taking it home to really think about what we wanted to do.

 

[mlayton14]

Why dont you just buy SSR via resale at a really cheap price

OKW is one of the easiest (if not THE easiest) resort to get reservations at. Unless you are talking XMas .. you really dont need to worry about home resort advantage at OKW ..