You could also look into renting points for a 2BR villa in VGF or BLT MK view, that would be the equivalent of the Bungalows. You could save >50% (you can look up the
points charts) and the villas at the VGF are considerably larger. The Bungalows are extremely cool and you can't beat the location but they aren't very big as a PP mentioned. I'm not trying to discourage you in any way, just throwing out some options.
For the same price you could also get a three bedroom Grand Villa that sleeps 12. As was also mentioned it is difficult to find an owner with 1000+ points to rent and cash availability is very low.