Question on adding points and current (listed) price?

[TAX GUY]

I was browsing this section the past few days, trying to get an idea of adding points vs buying a new contract. We currently have two; one with VGF and one with Riviera. Both are small, totaling 175 points combined. We're usually doing the bank/borrow which has been fine, but we're starting to use them a little more and for larger rooms (traveling with family and friends so wanting more space).

My question is around the current price per point, as listed and what I've read regarding some discounted prices? Specifically, both VGF and Riv show as $217pp, and some current incentives that run through September 2023. However, I've read in a few posts that prices dropped to $161pp. Where or how would one go about discussing that lower pp price? We have a trip in two weeks (7/13/23 - 7/20/23) and we plan on talking with a rep while there about possibly adding/buying. I want to be sure we have the correct and up to date info BEFORE we start talking with anyone.

Any and all feedback is welcomed. Thanks in advance

 

[lilsonicfan]

Have a read through the Summer Incentives thread as it’s really all there.

$161pp with full 2023 points is achieved by buying a UY that still has 2022 points and then selling those back in Magical Beginnings.

 

[DanCali]

For current members it actually drops to $183.1 after summer incentives.

https://www.disboards.com/threads/summer-incentives.3920216/

In addition, DVC can buy your first year points (2022 or 2023, depending on use year you pick) for $22/point - aka "Magical Beginnings". This is an option you select at the time of purchase and get in the form of a rebate check after closing. You can probably wait till your trip or call your guide before then to get the info in advance so you're more prepared.

These are the current incentives for existing members for 150 points. $27465 for 150 points is $183.1 and then you can opt for Magical Beginnings.

 

[jason423]

Most should be spelled out on the site. For a 150 point contract at VGF you should receive the following:

5 "free" points- $1,085
DVD incentive- $2,500
Welcome home credit- $1,500 (To receive the welcome home credit you have to have a trip planned already which is easy enough to book.)

This brings the price down to $183.10 per point

You can then ask about the "Magical Beginnings" promotion. Under this promotion you can sell the first use years points back to Disney for $22/point. If you have a later use year (Aug, Sept, Oct, Dec) that will be the 2022 use year and you will receive your regular allotment of points for 2023. If it is one of the earlier use years you would lose your 2023 points as part of the promotion and not receive them until 2024. You should still owe dues for 2023 in either scenario. This would be paid as a rebate about a month after closing which brings the effective cost down to the $161/pt you see many mentioning.

 

[TAX GUY]

Have a read through the Summer Incentives thread as it’s really all there.

$161pp with full 2023 points is achieved by buying a UY that still has 2022 points and then selling those back in Magical Beginnings.

that thread was SUPER helpful, thank you!

 

[TAX GUY]

Most should be spelled out on the site. For a 150 point contract at VGF you should receive the following:

5 "free" points- $1,085
DVD incentive- $2,500
Welcome home credit- $1,500 (To receive the welcome home credit you have to have a trip planned already which is easy enough to book.)

This brings the price down to $183.10 per point

You can then ask about the "Magical Beginnings" promotion. Under this promotion you can sell the first use years points back to Disney for $22/point. If you have a later use year (Aug, Sept, Oct, Dec) that will be the 2022 use year and you will receive your regular allotment of points for 2023. If it is one of the earlier use years you would lose your 2023 points as part of the promotion and not receive them until 2024. You should still owe dues for 2023 in either scenario. This would be paid as a rebate about a month after closing which brings the effective cost down to the $161/pt you see many mentioning.

I was able to piece it together from the summer incentive thread. Luckily for us, we have a trip in two weeks, so we might talk to our guide NOW, to also get Welcome Home credit! Our use year is October, so definitely doing the MB promo too!

Even better, is my wife wanted to add to Riv, and after reading, looks like we can split points into two, so we can add to both VGF and Riv!

 

[SkampyOne]

Even better, is my wife wanted to add to Riv, and after reading, looks like we can split points into two, so we can add to both VGF and Riv!

Unless I really missed something, pretty sure that while you could split 150 points in different tranches at a single resort, you wouldn't qualify for the incentives splitting across multiple resorts because they aren't the same - VGF has better developer credit than RIV (but wouldn't that be AWESOME?!?).

 

[D-Trick]

Even better, is my wife wanted to add to Riv, and after reading, looks like we can split points into two, so we can add to both VGF and Riv!

You are incorrect as the PP mentioned. To split a purchase into smaller contracts while maintaining the incentive level, they must be for the same resort.

 

[TAX GUY]

You are incorrect as the PP mentioned. To split a purchase into smaller contracts while maintaining the incentive level, they must be for the same resort.

Unless I really missed something, pretty sure that while you could split 150 points in different tranches at a single resort, you wouldn't qualify for the incentives splitting across multiple resorts because they aren't the same - VGF has better developer credit than RIV (but wouldn't that be AWESOME?!?).

that makes sense, but certainly wishful thinking on my part

 

[WxKristin]

One more thing to keep in mind when spitting into multiple contracts is the additional closing costs. I'm doing two 75 pt contracts VGF and I think each contract costs ~$380 to close (without title insurance).

 

[kgou]

in order to get MB, the minimum is 150 points right? thanks all, addonitis is REAL for this newbie resale buyer haha

 

[Sandisw]

in order to get MB, the minimum is 150 points right? thanks all, addonitis is REAL for this newbie resale buyer haha

Yes.

 

[kgou]

Yes.

Thank you Sandisw!

 

[SkampyOne]

One more thing to keep in mind when spitting into multiple contracts is the additional closing costs. I'm doing two 75 pt contracts VGF and I think each contract costs ~$380 to close (without title insurance).

Oooooh I had asked about the closing costs for doing this and was told $226.33 closing costs and $250 doc fee so would love to know how you got that down. That said, if they do $226 closing for BOTH and $250 doc fee EACH, then we get close to your number...

 

[WxKristin]

Oooooh I had asked about the closing costs for doing this and was told $226.33 closing costs and $250 doc fee so would love to know how you got that down. That said, if they do $226 closing for BOTH and $250 doc fee EACH, then we get close to your number...

I had them drop the title insurance on both contracts - that could be the difference? To be fair, I haven’t seen the final contracts as we don’t plan on signing until this next week. Over the phone, my guide told me each 75 contract will cost $14,115.10 to close (before magical beginnings).

 

[SkampyOne]

I had them drop the title insurance on both contracts - that could be the difference? To be fair, I haven’t seen the final contracts as we don’t plan on signing until this next week. Over the phone, my guide told me each 75 contract will cost $14,115.10 to close (before magical beginnings).

I had asked the same but it’s possible she didn’t include that in her calculations… Was $14208 each on the tally I took screen shots of.

 

[TAX GUY]

Quick update now that we're back from our visit.

We DID add while we were there. We scheduled an appointment with our guide (new one to us since our previous one retired) and he was extremely helpful and knowledgeable about all the incentives. We added 150 points at the Grand Floridian (we previously had 100 points) and qualified for all the current promotions and paid right around $161/point. We even waived the title insurance of about $187 from the closing costs.

My only other piece I'd like to add or confirm is if qualifying for the Welcome Home "buy back", and using a future stay, if you decide to explore this while on a current stay, it needs to happen within the first 5 days of check in. There *may* be some flexibility in that depending on how close to the 5 days you are. We happened to do ours on day 6 HOWEVER if there was any push back, they could see we scheduled the appointment on day three (after check in). There was NO issue however, for us.


For those keeping track, we opted for the Grand because it was $1000 less than the Riviera. We have existing contracts for place locations (was 100 at VGF and 75 at Riv) so now we're at 250 for VGF and 75 for Riv. We were able to pay *almost* the same price per point at VGF from 10 years ago when we first bought in (about $130/point back in 2013 and $161/point in 2023)

 

[RnP]

Quick update now that we're back from our visit.

We DID add while we were there. We scheduled an appointment with our guide (new one to us since our previous one retired) and he was extremely helpful and knowledgeable about all the incentives. We added 150 points at the Grand Floridian (we previously had 100 points) and qualified for all the current promotions and paid right around $161/point. We even waived the title insurance of about $187 from the closing costs.

My only other piece I'd like to add or confirm is if qualifying for the Welcome Home "buy back", and using a future stay, if you decide to explore this while on a current stay, it needs to happen within the first 5 days of check in. There *may* be some flexibility in that depending on how close to the 5 days you are. We happened to do ours on day 6 HOWEVER if there was any push back, they could see we scheduled the appointment on day three (after check in). There was NO issue however, for us.


For those keeping track, we opted for the Grand because it was $1000 less than the Riviera. We have existing contracts for place locations (was 100 at VGF and 75 at Riv) so now we're at 250 for VGF and 75 for Riv. We were able to pay *almost* the same price per point at VGF from 10 years ago when we first bought in (about $130/point back in 2013 and $161/point in 2023)

Were there incentives for VGF1 back in 2013? From what I understood, VGF1 started at $145/pp for members and a few dollars more a month later for non-members.

 

[Sandisw]

Were there incentives for VGF1 back in 2013? From what I understood, VGF1 started at $145/pp for members and a few dollars more a month later for non-members.

Yes, there were…I don’t remember exactly what they were… I bought on a cruise and it was less than the $145…

 

[CarolynFH]

Were there incentives for VGF1 back in 2013? From what I understood, VGF1 started at $145/pp for members and a few dollars more a month later for non-members.

Here ya go, courtesy of DVC News, a wealth of information - https://dvcnews.com/wdw-resorts/grand-floridian/2280-new-grand-floridian-details-video-photos