Purchased Riviera

[Mrtommorrow1987]

Welcome to the dilemma of Riviera...

I have concerns about the resale value with the new system but another part of me doesn't care b/c I don't ever plan to sell. I would rather just gift each one of my contracts to my children when they are old enough.

 

[TexasChick123]

I have concerns about the resale value with the new system but another part of me doesn't care b/c I don't ever plan to sell. I would rather just gift each one of my contracts to my children when they are old enough.

I’m still trying to figure out how any of our contracts appreciate year after year when they have less years on them. Yes, I understand supply and demand, ROFR, and other economic principles. It still defies logic and doesn’t follow common sense. I think the resale value will be fine. We bought Riv because we want an EP and HS resort that doesn’t expire when we’re in our 50s. I know many other current owners who have done the same.

There are some unknowns with this property though, so you definitely have to consider them. We also don’t know if DVD will offer a fee to book at 7 months, a fee to qualify points, etc. Good luck with your decision.

 

[Lori Fuhrmann]

Hi!
We purchased Riviera on our last trip a few weeks ago. We got 250 points and a December UY. Can someone please explain the specifics of my borrowing availability? I think understand correctly that I am getting 250 points on Dec 1 this year to use from 12/16-11/30 of 2020. Then on Dec 1 2020 I get another 250 to use until 11/30 of 2021 and so on.

My confusion lies in the borrowing aspect. My example is this:

I use 227 points for a Riviera trip 1/1/20-1/8/20. Leaving me with 23 points until December.
BUT
My 5th anniversary is August of 2020. So, I want to go to Hilton Head from 8/30-9/4 which would be 165 points.
SO
Am I correct in thinking that I can borrow 142 points from my 2020 points and use them?

And if so, on Dec 1 2020 I would be getting only 108 points after the borrow.
Can I then borrow say 120 points from my 2021 points?

And can I just keep borrowing from the next year if I need them?

This purchase has my head spinning (with excitement and a little confusion )

Thank you for any help!

 

[Phatscott25]

You're correct on the borrowing aspect. Although if you already think that you'll be borrowing every year you may want to consider more than 250 points.

Also, and someone more seasoned than me on HH availability would know better, but, it's my understanding that 7 months isn't easy to book there in the summer.

 

[Lori Fuhrmann]

You're correct on the borrowing aspect. Although if you already think that you'll be borrowing every year you may want to consider more than 250 points.

Also, and someone more seasoned than me on HH availability would know better, but, it's my understanding that 7 months isn't easy to book there in the summer.

Thank you!

Yes more points are definitely in my future! But for now I was just hoping I was thinking correctly about the borrowing.

And yes I did consider that difficulty with HH. But worst case I will waitlist and if I can’t get there, then it looks like I will probably just celebrate at home. Or maybe a short Disney trip

 

[Phatscott25]

Yeah I remember when I bought my first contract. I was looking to buy 160 and ended up buying 250 which at the time I thought was way more than I'd ever need. Lol.

Now 8 contracts later I've got 1,400. Damn addonitis. Congratulations on your purchase neighbor! I bought there too and can't wait until my first stay January 18th.

 

[Lori Fuhrmann]

Yeah I remember when I bought my first contract. I was looking to buy 160 and ended up buying 250 which at the time I thought was way more than I'd ever need. Lol.

Now 8 contracts later I've got 1,400. Damn addonitis. Congratulations on your purchase neighbor! I bought there too and can't wait until my first stay January 18th.

Yessss
I went in with plans to buy resale direct at okw and toured the models and ended up with 200 points that day which turned into 250 a week later.

1,400 points

Thanks again for the response and the welcome.

 

[Jack_Sparrow_NJ]

Hi!
We purchased Riviera on our last trip a few weeks ago. We got 250 points and a December UY. Can someone please explain the specifics of my borrowing availability? I think understand correctly that I am getting 250 points on Dec 1 this year to use from 12/16-11/30 of 2020. Then on Dec 1 2020 I get another 250 to use until 11/30 of 2021 and so on.

My confusion lies in the borrowing aspect. My example is this:

I use 227 points for a Riviera trip 1/1/20-1/8/20. Leaving me with 23 points until December.
BUT
My 5th anniversary is August of 2020. So, I want to go to Hilton Head from 8/30-9/4 which would be 165 points.
SO
Am I correct in thinking that I can borrow 142 points from my 2020 points and use them?

And if so, on Dec 1 2020 I would be getting only 108 points after the borrow.
Can I then borrow say 120 points from my 2021 points?

And can I just keep borrowing from the next year if I need them?

This purchase has my head spinning (with excitement and a little confusion )

Thank you for any help!

Yes, you are indeed correct

 

[polynor]

Well...we did it! We put the deposit down on the Riviera as first time buyers. Got the March UY we wanted too.
We understand the resale restrictions but we also are looking at the fact with the exception of two years, we've gone on something Disney but mostly Disneyworld. Our last trip was AoA, and we liked the added room and with the kids getting bigger, more room is better (and a washer and dryer! No one told me puberty would smell this much...). We would have loved BWV, but with the contract ending right around when I expect to be able to spend a lot more time there -- that wasn't going to work. We split the contract into three for the kids sake.

Now knowing we are definitely coming back, I won't have that sense of being rushed the way we felt this time (because it had been three long years since our last trip!).
We are excited about the gondola and being close to CBR doesn't bother us at all -- it's where we spent out honeymoon (Jamaica 4411!) so there's sentimental value there.
We bought enough to be able to stay in a 2BR with a little borrowing/banking action -- so I think we'll be able to do every other year if we need breaks from Disney too.

Whew. After watching the DVC space since BWV open - finally made the jump and I feel relieved.... (If we hadn't bought with the incentives, we would be waiting for Reflections to open. And that one doesn't excite me really.)

 

[vikequeen]

Well...we did it! We put the deposit down on the Riviera as first time buyers. Got the March UY we wanted too.
We understand the resale restrictions but we also are looking at the fact with the exception of two years, we've gone on something Disney but mostly Disneyworld. Our last trip was AoA, and we liked the added room and with the kids getting bigger, more room is better (and a washer and dryer! No one told me puberty would smell this much...). We would have loved BWV, but with the contract ending right around when I expect to be able to spend a lot more time there -- that wasn't going to work. We split the contract into three for the kids sake.

Now knowing we are definitely coming back, I won't have that sense of being rushed the way we felt this time (because it had been three long years since our last trip!).
We are excited about the gondola and being close to CBR doesn't bother us at all -- it's where we spent out honeymoon (Jamaica 4411!) so there's sentimental value there.
We bought enough to be able to stay in a 2BR with a little borrowing/banking action -- so I think we'll be able to do every other year if we need breaks from Disney too.

Whew. After watching the DVC space since BWV open - finally made the jump and I feel relieved.... (If we hadn't bought with the incentives, we would be waiting for Reflections to open. And that one doesn't excite me really.)

Your story sounds very similar to ours. Seriously considered beach club but couldn’t justify cost w such a short contract. Congratulations!

 

[Wakey]

I wouldn’t buy because of the resale restrictions and I very much believe the majority buying a 50 year contract now will likely come to sell. Passing down to children- they may not want it, it’s a very expensive hobby in dues and who knows if the rental market will be as buoyant.
But I very much like the rooms here and if you are buying with full knowledge of its issues and do the cost benefit and decide it’s for you, then good on you, no one could criticise that decision.
I am staying here at Christmas so I will see then whether I will find it so good that I am prepared to take a wash when I sell. I don’t think I will but I may be on here in January saying I was wrong and to hell with it.

 

[Gaston77]

My first dvc just bought Riviera tonight 200 points pretty excited i understand about the resale but we didn't finance it and have no intention of selling it but i can see why some wont bite on it

 

[Cyberc1978]

I'm not purchasing DRR as well, this is solely due to the resale restrictions.

I know that some claim they wouldn't ever sell and some possibly wont, but the statistics speak for them selves. Most owners keep their contract for 5-10 years.

I'd like to say I'm gonna keep my contracts forever or until the end, but deep down I honestly know that I wont. I might be here for the 10 years maybe a few longer or a few less. Who knows where life will take me.

 

[Bruin_mouse]

I know that some claim they wouldn't ever sell and some possibly wont, but the statistics speak for them selves. Most owners keep their contract for 5-10 years.

The only place I’ve ever seen this statistic is people mentioning it on the board, has Disney ever released the stats on this or has someone reputable like DVC News studied it? I’m relatively new to DVC so it’s entirely possible I missed it.

 

[Madame]

The only place I’ve ever seen this statistic is people mentioning it on the board, has Disney ever released the stats on this or has someone reputable like DVC News studied it? I’m relatively new to DVC so it’s entirely possible I missed it.

I think it's a semi-educated guess (10-15 years). Think about it this way though; if everyone were holding on to their contracts indefinitely (or even the large majority), why would DVD see it as a problem? Problematic enough to go after resales guns blazing and to include the line in the DRR contract that notifies the buyer that resale value could potentially be impacted by the resale restrictions.

 

[Cyberc1978]

The only place I’ve ever seen this statistic is people mentioning it on the board, has Disney ever released the stats on this or has someone reputable like DVC News studied it? I’m relatively new to DVC so it’s entirely possible I missed it.

I don’t think anyone have or maybe I missed it too.

It would be sort of easy to find out. I just checked two of my contracts. One had been owned for 6 years before sold to me. The other for 17 years.

 

[KAT4DISNEY]

The only place I’ve ever seen this statistic is people mentioning it on the board, has Disney ever released the stats on this or has someone reputable like DVC News studied it? I’m relatively new to DVC so it’s entirely possible I missed it.

I believe it's a statistic for timeshares in general. I did see a post elsewhere recently that did seem to support that there are more contacts resold than might be thought. Had to be some reason for restriction after restriction. Someone else pointed out though that most timeshares aren't as punitive as DVC is being in the way. I have no idea on the validity of that statement though.

 

[Bruin_mouse]

I don’t think anyone have or maybe I missed it too.

It would be sort of easy to find out. I just checked two of my contracts. One had been owned for 6 years before sold to me. The other for 17 years.

Thanks. I’m just wondering because even Disney’s infamous “Save 50%” number is caveated with after owning 6-11 years (I think). You’d hope the average years owned is at least a bit longer than that, especially if a lot of people are using Disney 10 year financing.

 

[dvcsince93]

I know that some claim they wouldn't ever sell and some possibly wont, but the statistics speak for them selves. Most owners keep their contract for 5-10 years.

I'm not sure what statistics you are refering to but the numbers of recorded deeds for the WDW DVC resorts don't seem to support the 5-10 year holding time.

To date, DVD has recorded about 370K contracts for just the WDW DVC resorts. On the other hand, there have been at most about 45K resales with the number likely being closer to 40K resales. (this does not include gratuitous transfers or foreclosures of contracts)

So, even if every resale was for a "never before sold" contract, which isn't the case as some people sell a contract that they bought resale, a maximum of only about 12% of contracts have been sold at all.

In fact, the oldest resort, OKW, has about 51K contracts and have had no more than about 10K resales-likely closer to 8K. So at most about 20% of the OKW contracts have been sold in 25 years.

It seems that a vast majority of contracts bought direct have not been sold at all much less in 5-10 years.

 

[zavandor]

I'm not sure what statistics you are refering to but the numbers of recorded deeds for the WDW DVC resorts don't seem to support the 5-10 year holding time.

To date, DVD has recorded about 370K contracts for just the WDW DVC resorts. On the other hand, there have been at most about 45K resales with the number likely being closer to 40K resales. (this does not include gratuitous transfers or foreclosures of contracts)

So, even if every resale was for a "never before sold" contract, which isn't the case as some people sell a contract that they bought resale, a maximum of only about 12% of contracts have been sold at all.

In fact, the oldest resort, OKW, has about 51K contracts and have had no more than about 10K resales-likely closer to 8K. So at most about 20% of the OKW contracts have been sold in 25 years.

It seems that a vast majority of contracts bought direct have not been sold at all much less in 5-10 years.

Thanks for the data. Do contracts taken by Disney at ROFR are included as resale in the numbers you've listed?

Anyway, since not so many contracts are resold, why Disney bothers at all with the restrictions?