Old Key West-Resale or Direct?

[jshadd]

OKW is selling on the resale market for an average of around $120/point but with an end date of 2042 on most contracts ( 20 years remaining). OKW is selling direct at $180/point but with a longer contract end date in 2057 (35 years remaining). Direct cost/point is $5.14 ($180/35 years) vs. resale $6.00/point ($120/20 years). I understand that it's a lot more money today, but you get 15 more years of points. Which would you buy?

 

[Sandisw]

Direct. Plus those are good at RIV and future resorts. And if you buy at least 150, you are eligible for the blue card perks, whatever those end up being.

So, you do get something for the extra money. Plus in 20 years, OKW resale is done, but the OKW direct will still have time left so even if you sold, you should be able to get something back on it, enough that should offset any extra you paid.

 

[Brian Noble]

Neither.

I would buy an extended contract resale. Those extra years are not valued anywhere near $60/pt on the resale market.

 

[wnielsen1]

If you have the patience, do as Brian Noble suggests. I, however, have no such patience and would buy direct

 

[npatellye]

Direct and that’s actually what we did this summer.

 

[mrsdoubie]

I had no patience to wait for a 2057 resale to come along and bought direct this summer. We were able to snag at $167 pp and not $180 so that was a big help too.

 

[Leight19]

My family had this same debate earlier this year and landed at buying direct. However, when we made this choice okw was $159 a point direct after incentives so not sure where I’d land today with the price increases. I feel okw and ssr went up direct more then market can justify to force more sales to Riviera.

 

[Epcot Forever Forever]

There’s over a dozen extended contracts on the market today with the cheapest I see being $128 on www.Fidelityrealestate.com.

I’d suggest that route as well.

 

[The Jackal]

If it’s a small contract your looking for, around 100 points or less, direct. If it’s over 100 and use year does not matter I would look for resale extended contracts.

 

[D-Trick]

I imagine the reason anyone would want to buy OKW (direct or resale) is to stay at OKW. That's what I did. Else I would be buying RIV direct for the incentives or SSR for lower MFs/SAP.

With that said, I vote to buy a 2057 contract resale. There are plenty out there; just be quick to pull the trigger as more get listed.

 

[KVacc]

If it’s a small contract your looking for, around 100 points or less, direct. If it’s over 100 and use year does not matter I would look for resale extended contracts.

I thought you had to buy 150 minimum direct now…this is why we went resale.

 

[Sandisw]

I thought you had to buy 150 minimum direct now…this is why we went resale.

As a new owner, yes. But current owners can add on as little as 25 points.