Perhaps we overpaid on our SSR points

[MissCecelia]

Feeling kinda dumb now that I look at the typical cost of points. We're ready to buy but we won't get our big winter bonus until early Jan. We found a contract at SSR for 50 points but wanted a long closing. Seemed perfect for us as we'd been watching the market just climb and climb! 108pp is still a discount and we don't live close to WDW to take advantage of the other discounts as we go every other year or so.

SSR has the lowest dues and we like the resort so this contract seems like the best match for us. I just see how much others are paying/have paid and I feel like a dummy now


EDIT: I don't regret my contract. I'm super happy with it, I just wish I was a better bargain shopper is all.

 

[_auroraborealis_]

Are you looking at 50-point contracts? Small contracts like that sell much higher than even 100 point contracts. Compare like to like.

 

[Ben E N]

Are you saying you already bought a contract? Looking into a specific one and are about to pull the trigger? Asking for advice or just sharing with the masses?

 

[MissCecelia]

Are you saying you already bought a contract? Looking into a specific one and are about to pull the trigger? Asking for advice or just sharing with the masses?

We put an offer in and send our deposit. I'm excited about everything but the fact that it's not a "super deal". I pride myself on being a smart shopper

 

[Ben E N]

We put an offer in and send our deposit. I'm excited about everything but the fact that it's not a "super deal". I pride myself on being a smart shopper

If you paid $108 a point, then you really didn't overpay. You may have gotten it cheaper, but you got into a resort with reasonable dues, and got the points you wanted in your contract. Even if you got it for $5 more per point that you could have paid, that's only $250 for getting exactly what you want.

I actually intentionally overpaid for my BLT resale, asked to pay $5 over asking in order to avoid ROFR. I may have thrown $800 away, but to me it was worth it to get into the place I wanted and in a UY and contract size that I was most comfortable with.

I think you will end up being very happy with your decision.

 

[lovin'fl]

Smaller contracts like this go for higher cost pp. So you may not have done so bad. And it's, what?, $145pp direct. So you saved big there.

 

[disneynutz]

Use your SSR points to stay at other resorts until you find your favorite(s). Buy there for 11 month booking advantage and you can sell SSR.

Bill

 

[ziravan]

You’re fine. It’s a small contract and gets your foot in the door.

The info being a member will give you to be better informed on your next contract is well worth the price of entry.

I wouldn’t sweat it another minute.

 

[Wakey]

108 is fine for a 50. I just bought 25 because I needed 25 before I book in December. There were no 25s, none that could have completed so quick, and none with banked points so I bought direct, thinking we’ll at least I am grandfathered in on the blue card stuff, and it was only 100 closing with no dues on this years points.

 

[DVC Doctor]

Feeling kinda dumb now
I feel like a dummy now

I pride myself on being a smart shopper

Well, in my opinion you made a pretty good deal. Seriously, if you are buying a 50 point contract, then $108 vs $145 direct ($37 savings per point or $1,850 total savings) seems pretty good to me. Of course you have to compare closing costs, etc.

I think the cheaper SSR are for 200+ point contracts as those do indeed sell for less, but the smaller 25-50 point contracts go much higher.

How low do you think a 50 point contract should sell for? Also, the competition for these are super hard as many many people want these as they can afford to pay cash and not finance them. thus, you may not even be able to buy them as 10 other people were competing for the same contract.

Thus, I do not think you are a dummy as in a worst case situation where you could buy SSR for $90pp (I am not stating you can even do this as I have not seen 50 point contracts sell that low, but wanted to use an extreme example) then you would only be out $108-$90 = $18 x 50 points = $900. In reality if $100pp was the value, then you only overpaid $8x50 = $450

 

[ziravan]

Well, in my opinion you made a pretty good deal. Seriously, if you are buying a 50 point contract, then $108 vs $145 direct ($37 savings per point or $1,850 total savings) seems pretty good to me. Of course you have to compare closing costs, etc.

I think the cheaper SSR are for 200+ point contracts as those do indeed sell for less, but the smaller 25-50 point contracts go much higher.

How low do you think a 50 point contract should sell for? Also, the competition for these are super hard as many many people want these as they can afford to pay cash and not finance them. thus, you may not even be able to buy them as 10 other people were competing for the same contract.

Thus, I do not think you are a dummy as in a worst case situation where you could buy SSR for $90pp (I am not stating you can even do this as I have not seen 50 point contracts sell that low, but wanted to use an extreme example) then you would only be out $108-$90 = $18 x 50 points = $900. In reality if $100pp was the value, then you only overpaid $8x50 = $450

And that last part is assuming that your contract could be had for $100, which I doubt.

If I were an under 100 point seller in the current market, I would hold firm to my asking price for at least 2 weeks. And as long as it's a semi-connected to reality asking price, I'd probably get it.

My guess is that if you'd had bid less, someone else would have outbid you.

A good shopper gets what they want for the absolute minimum price the market will bear.

I think you're there.

Could you get a better price? Sure. Just probably not on that contract. You could wait for someone to list another contract with what you want for a few dollars/pt cheaper and hope that you're the first to jump on it. I don't think you'd save more than a buck or two per point, though. Seems like that would be a huge hassle compared to a contract in hand. And I don't know about you, but my time is worth money to me. Like I said in an earlier post, don't sweat it another minute.

 

[DVC Doctor]

I just searched DVC resales listings and I think I see the contract you bid on (dvc resale market) and when you search that website for all contracts and sort the list from small to large contract size, I am blown away at the current market prices and think $108 is well within the range of a "fair deal".

A SSR 25 point contract went for $120 (2018 points available) and a 75 point contract went for $93 (2018 points used)

The only issue I see is that the 50 point contrct only has 8 points for 2018.

In this limited example, I personally would have bought SSR 100 points for $108 that included all 2017 and 2018 points as that is worth at least $24 to me and that would have netted the cost at $84pp

 

[Wakey]

I was just looking at resales now again. DVC resale market has a stripped 30 pointer for SSR, for $115, which says seller will only accept asking price and closing costs. Closing costs are just over $400. No points until 2019.
When you add together the lost 2 years points (worth a minimum of $13 a point rental) and take off the 300 for the cheaper closing, direct is cheaper.
The situation is crazy and I cannot see why anyone would buy it- but it seems they are?

 

[MissCecelia]

I just searched DVC resales listings and I think I see the contract you bid on (dvc resale market) and when you search that website for all contracts and sort the list from small to large contract size, I am blown away at the current market prices and think $108 is well within the range of a "fair deal".

A SSR 25 point contract went for $120 (2018 points available) and a 75 point contract went for $93 (2018 points used)

The only issue I see is that the 50 point contrct only has 8 points for 2018.

In this limited example, I personally would have bought SSR 100 points for $108 that included all 2017 and 2018 points as that is worth at least $24 to me and that would have netted the cost at $84pp

We were a bit back and forth on the only 8 points for 2018 too, but we're not going until 2019 (for 2 days) and then 2020 is when our next big trip is so the timing n the points works out for us. I agree though, if we have more available disposable income we would have gone with something that had more points.

Thanks everyone! I feel a lot better and I'm glad we are on our way to owning @ WDW

 

[DVC Doctor]

I was just looking at resales now again. DVC resale market has a stripped 30 pointer for SSR, for $115, which says seller will only accept asking price and closing costs. Closing costs are just over $400. No points until 2019.
When you add together the lost 2 years points (worth a minimum of $13 a point rental) and take off the 300 for the cheaper closing, direct is cheaper.
The situation is crazy and I cannot see why anyone would buy it- but it seems they are?

First you can't buy a 25 or 30 point contract as a new member from Disney

Second, people are probably only looking at list price and that is an obvious mistake

Third, buying this for all cash to avoid expensive (10% or more) is probably better than buying something else with financing.

 

[Wakey]

First you can't buy a 25 or 30 point contract as a new member from Disney

Second, people are probably only looking at list price and that is an obvious mistake

Third, buying this for all cash to avoid expensive (10% or more) is probably better than buying something else with financing.

Good points- I keep forgetting less than 50 are not available to new buyers.