original DVC PT Requirement

[KANSAS]

what was the original point requirement, when purchase from DVC guide, retail? someone posted that it was higher than 150 points, that exists currently,when there were selling OKW,if true, when did this change??

 

[Candace]

Can't remember when it changed, but yes, it was originally higher. I purchased in 1994 - 230 points - not sure if that was the minimum, but I do remember that it was over 200.

 

[PamOKW]

I think it was even slightly higher than 230 but I'm not positive. 230 was the minimum when I bought in May 1993 but I seem to recall they had just lowered it. The idea was that you needed to have a minimum of 1 complete week in a one-bedroom in order to make RCI (that was the company then) exchanges.

Just looked at some old notes and it looks like the memory is fading. When I compiled a point cost history a few years back, members put the minimum at 230 until at least May 1993 when it went to 190. I show 1997 with the minimum at 150, not sure if it started sooner than that.


Pre-construction prices was $48 per point and then it went to $51 per point for the 10/7/91 opening of OKW.

 

[KANSAS]

PAM
WHAT YEAR??was OKW, the only choice? back then 230+ points at OKW, was alot,if you only wanted a studio or 1 bedroom.

 

[Chuck S]

It was a minimum of 230 points in May of 1992. Yes, the only resort open (and only Phase I) was OKW. There were no buildings completed over the bridge from the Hospitality House - just Miller's Road and the Bldgs across the parking lot from the Hospitality House were complete and open. There were no promises that OKW (then known as THE DISNEY VACATION CLUB RESORT) would ever be fully completed, or that other resorts would be added to the system. The trade out company was RCI.

And as you know, the points tables went through a minor adjustment at OKW in 1996. Prior to that, studios were 69 points for a week in Adventure Season, giving every early owner the possibility of over 3 weeks in a studio

And FREE length of stay park passes for 1/2 the capacity of the villa (Studios and 1 Bdrm received 2 passes, 2 Bdrms 4 passes and GVs 6 passes.)

 

[dianeschlicht]

Yep, 230 points was the minimum. That is why we have one 230 point contract and one 150 point contract.

 

[PamOKW]

Not only was it a lot of points to have to own. It was expensive.

It's very annoying for people to claim that OKW owners are "cheap". In fact, owning OKW points prior to the opening of BWV and the reduction of point requirements to 150, cost nearly as much as buying into DVC today (pre-SSR) and quite a bit more than the original 150 purchaser at BWV. Original purchasers of OKW (after opening) paid roughly $11,700-$12,500. Today, DVC purchasers are paying $12,600. It's true they own fewer points but the actual cost is roughly the same. BWV owners were able to buy in for $9,400 for 150 points when it opened. Significantly less than the original OKW owners. So, who got in cheap and gets to use the all the resorts?

 

[paults]

boy oh boy, can't wait to see where this goes.

 

[Nick@ VB+OKW]

Originally posted by PamOKW
230 was the minimum when I bought in May 2003 but I seem to recall they had just lowered it.

Pam......are you sure you didn't buy before May of 2003?

 

[BillPA]

I thought the original buy in was 270 points. Enough for 7 nights in a 2BR in dream season, before they adjusted the points needed to the current level.

 

[KANSAS]

PAM OKW
I have come to really admire, the First DVC OWNERS.
THE 230 PT MINIMUM, was quite high.
I do not beleive that you had any idea, if anything, would be built after OKW.
What helped you make this commitment, the First THEME PARK PASSES? or something else?

 

[PamOKW]

Oops. Yes that should be May 1993 not 2003.

To tell you the truth, the park passes were not a deciding factor. They weren't presented as an incentive, they were presented as part of the total program....but that's water under the bridge now.

I bought because OKW aka Disney Vacation Club was absolutely gorgeous and had everything that I was looking for in a Florida vacation home without the worry of ownership and maintenance when I wasn't there plus it was IN WDW! (I also think they put a little something in the hot fudge sauce.)

 

[KANSAS]

PAMOKW
I found your comment about OKW, being just Wondefull, very interesting. I sometimes think, that new and recent DVC owners,see OKW, as an inferior place to stay, if they cannot get into Boardwalk, or Beach club, like it is a big dissaointment, if they have to stay there
at one point, OKW, was considered the most desirable place to stay at WDW.

 

[Chuck S]

For us, the theme park passes were not the "clincher" in the deal. We has always stayed in the Contemporary Tower, and simply comparing the cost for a week there vs. cost of DVC over 50 years (even factoring in the maximum allowable dues increase), plus the larger more comfortable room just made sense. We didn't care if there were any other resorts in the system, although the Newport Beach resort would have been nice, as we have friends in California and would have stayed there while visiting them.

As far as OKW being the least desirable resort...it depends on what you are looking for in a vacation. Some people like the more "exciting" feel of BCV & BWV and the availablility of room service, a more "hotel" feel to their vacation experience. We prefer a more relaxed feeling to our vacations, especially since we almost always travel with only adults. I'm not a big pool person, so BCV has no special appeal to me (though it is a pretty resort) and BWV is too "busy". I think I'd like to stay at VWL sometime, I just haven't gotten around to it. I'm undecided about staying at SSR...it looks lovely, but OKW just feels like home.

 

[mom2rb]

So how much did they change the points? Did they adjust points for room size or season? Is this the only time an adjustment has been made at a DVC?

 

[Cruelladeville]

Pam,
I think your prices are wrong somewhere along the line. If the requirement was for 230 pts when OKW opened, and pre-opening price was $48, then $48 X 230=$11040. After opening, it would be $51 X230=11730. Didn't they have some kind of Magical Beginnings or something back then, or was it just the park passes? Also, when BWV opened, there was a Magical Beginnings which brought the 150 pt necessary for buy-in down to $56 per point, I think, which means the cost would be about $8400 to buy in. Still, OKW owners got a bargain if you consider those doggone park passses.

 

[Chuck S]

No, there was no "Magical Beginnings" type promo for early sales into OKW. We got the passes. And in the early years, we often got little "gifts" when we went home...like a DVC photo album.

 

[RobDoc]

Originally posted by mom2rb
So how much did they change the points? Did they adjust points for room size or season? Is this the only time an adjustment has been made at a DVC?

DVC has reallocated the points only once- 1996 at OKW.

They lowered some weekend nights for a couple of seasons and raised the weeknights for the same seasons. Others were not changed at all.

Originally, a Studio could be reserved for as few as 7 points per night.

Since the reallocation did affect our needs for the time we like to travel, we just bought more points.

The original minimum was 230 as already mentioned. When we purchased in June, 1993- the minimum had jus been lowered to 210 points. It was lowered to 190, 170 and finally the current 150 with subsequent change.

Originally, 230 points was the number deemed necessary to be able to enjoy the exchange opportunities available at the time. When subsequent changes were made, a caveat was added to the documents warning that all aspects of the program might not be available with the lower number of points.

Obviously, the lower minimum has proved a successful change to the sales of the DVC program. IMO, the change to a point chart for II exchanges has also simplified that program. At least it is easily understood since the points required are fixed.

Enjoy!

 

[Disney Doll]

I never knew that about the original minimum buy-in being higher than 150. I wonder if that was because of the trade-out thing??? When we bought in 1997, I can remember them being VERY EMPHATIC that the 150 point minimum purchase requirement might not be enough to trade out to the other timeshare companies that were in the system at the time. That particular point was made in every piece of literauture, and I almost remember signing something that said that we understood that if we bought 150 points, that we ran the risk of not being able to trade out. We actually ended up buying a 200 point contract, because I like even numbers , but I can remember my DH commenting "boy, they really want us to undertsand that minimum point thing, don't they?"

 

[PamOKW]

I didn't include the pre-opening price of OKW since I'm not sure of the details on that. I used the opening price of $51 and the price increases over the next few years to get the range I cited. $11,730 rounded down to $11,700.

At one point there was a rebate of the money you had spent during the vacation where you purchased DVC. I don't recall the specifics since I didn't use that incentive.