Really -- What does someone do with thousands of points?

[greenban]

We've already seen a couple of cases where ownership was placed in different names to get around the maximum point issue: contract in husband's name, contract in wife's name, contract in both names, etc. It's definitely do-able.

I'm sure the retirement theory is a good one. But as an example, the MFs on 10,000 pts would be about $45,000/yr (based on an average of $4.50/pt), I would think that many people in that situation would take that money and just buy a vacation home outright. Oh well, whatever the reason, I wish it was a problem I had!!!

Coming from a small town in New Jersey. Let me point out that I pay way too much in property taxes, and we get very little. Vollie EMS and FD (not knocking these great people), No sidewalks, No street lights, No trash service.

If my property taxes keep increasing at the rate they had over the last 10 years, I will pay more in property taxes than I will in MFs on 3,000 DVC points, assumming the same rate of increase in MFs.

For that I get 6+ months in a Studio, or 3+ months (snow season) in a 1 Bedroom. No maintenance costs or 'Honey-Do lists', no snow shoveling, etc. Someone cleans my 'room' every 8 days and every 4 days I get clean towels, and someone empties my trash for me! Heck, that's not only the cheapest assisted living option, it's Disney!!!.

I can get a part-time seasonal job at WDW, and get Silver park passes for me and the DW. We can people watch to our hearts content, we can have a nice WS dinner each week, and like all seniors take advantage of 'Early Bird' dinners and the like. I'll even be encouraged to drive 25 miles below the posted speed limit with my turn signal left on, in the left-hand lane! (Statewide pastime of Seniors in Florida).

I'll hopefully die before 2042, and definately before 2054, so in our case, this makes real financial sense. (I have run this scenario before my Accountant and Financial Planner, and they both agree that for us it makes good financial sense.

Of course if the DVC is sold, destroyed or whatever else may happen, I may not be pleasedwith my decision. But similar risks apply to homeownership as well.

Finally, if we stay at OKW well be surrounded by old people anyway!

-Tony

 

[dwelty]

We live in a prosperous country. There are millions of wealthy people who could afford to do this without difficulty. Almost all of them have worked hard to achieve this financial position. If they can afford it, more power to them! That's the great thing about the "American Dream" It can be whatever you want it to be.

 

[Mtnman44]

What they do is help Disney built resorts without having to take a big hit with expenses and liabilities on its financial statements...

 

[Cruelladeville]

Well, I own 1000 pts, and I am using it to visit WDW several times during the year. Most of that time is in the winter. Between DVC and Marriott, we can stay about 5 weeks. I can see that we will begin to sell off our holdings in the future, though, because of the high cost of dues. I can understand the seniors who complain about being on a fixed income--even with pensions, SS, and investments. I have more money in retirement than alot of people, but it's frightening to see how quickly the money disappears to home repairs, dues, and taxes. And yes, the government taxes the SS and pensions of retirees.

 

[calypso*a*go-go]

Not trying to beat a dead horse, but I can perfectly understand having a couple of thousand points...but still question (argue I guess) that someone owning in excess of 10,000 pts. seems to be way beyond personal use. As pointed out, yes it is their money, which is great that they are wealthy enough to do this. But we're looking at an investment of well over $1,000,000 between the original purchase and maintenance fees. I love WDW but don't know that I would want to be there 24/7.

 

[jimmytammy]

If I had this many pts.,what would I do with them? Go, Go, Go Seriously, will never have that many. We are happy with our 350, would love to have more, but grateful with what we have.

On our first really cold fall day in NY recently, I thought about the snow birds going south, and I wondered if any DVCers actually use the DVC as their home base. Not a bad way to retire!

Winter is setting in here in NC. Yesterday DW noticed huge amount of birds setting on telephone lines and billlboards. My 1st thought was getting ready to head south. 2nd thought, if smart, they will head to WDW and stay You know, those birds you always see in the parks, same ones year after year. And they didnt have to buy like us to get repeat trips

 

[Pluto 2]

I could easily see where 1,000-2,000 pts. would not be too difficult to manage. But what about 10,000+ that are spread out all at different resorts, with different use years. It just seems like it would be a nightmare to keep track of all the points and their use-it-or-lose-it dates. What about "tipping" (if that's the correct real estate term). Are there investors that are savvy enough to buy as low as possible, then turn around and sell quickly, making a $5-$10 profit per point? It's doesn't seem like a person would make very much money at this (especially with ROFR). Anyway, just curious.

the maximum anyone can own is 5,000 points. so i dont know where you got your 10,000 plus points at.

 

[dumbo71]

the maximum anyone can own is 5,000 points. so i dont know where you got your 10,000 plus points at.

As stated ealrier in the thread, it is very easy for a family to exceed 10,000 points.

Example: Bill smith owns 5,000 Judy Smith owns 5,000, the smith family trust owns 5,000 and then just for fun both of there kids Sally and Michael own 5,000 as well.

This brings the grand total to 25,000, all legally of course.

As an owner who previously owned well over 1,000 points I can twell you it was GREAT. No problem managing those points. I rented some and used the majority.

After some mistruths told directly to me by DVC legal, and some recent changes in the DVC climate I have downsized to 350 points. Sometimes I miss those days of large point ownership but certainly not come annual dues time.

 

[calypso*a*go-go]

After some mistruths told directly to me by DVC legal, and some recent changes in the DVC climate I have downsized to 350 points. Sometimes I miss those days of large point ownership but certainly not come annual dues time.

I'm sorry to hear that you felt you had to downsize, but understand. We can never be so enthralled with DVC that we look the other way when things aren't as originally presented, or left open to interpretation in a way that would only be a benefit to DVC...not the contract owners.

Apparently Pluto has missed out on some of the previous threads we've had running concerning families that own over and above the supposed limits.

 

[Fitswimmer]

I don't know what other people do, but I know what I would do!!

give some to Parents to use when they want
give some to Niece to go with friends
give some to cousin who has 5 kids and can't afford Disney
give some to hairdresser who LOVES disney and can't afford it

Keep the rest for ME!!!! I'd love to go for at least one week for each of the major Disney Festivals: Food and Wine, Flower and Garden, Halloween and Christmas!!

 

[dumbo71]

We can never be so enthralled with DVC that we look the other way when things aren't as originally presented, or left open to interpretation in a way that would only be a benefit to DVC...not the contract owners.

Thanks for the kind words.

I quoted this part of your post because this is one of the best statements I've seen on the Dis. Many have never had any issues occur during there stays. Many have never had DVC tell them directly one thing only to see them reverse course. I pray they never do.

DVC still stands out among the timeshare crowd, but we all need to maintain some sense of realism. DVC is not perfect and not a good fit for many.

 

[drakethib]

With a 1000 points we would be spending a lot more time at WDW

 

[DVC Dude]

I wish I had the problem of having thousands of points.

 

[Sammy]

I have a friend who owns at OKW. She travels to WDW at least 4 times a year....each time with different members of the family (ie: one trip is "girls only", one is with the grandkids, one with just hubby, etc). Each time, she stays for 7-10 days, so though I don't know the exact number of points she has, it's got to be over 1,000. She uses each and every one of those points!

I'm jealous!

 

[dcal]

Have a good time...and they can afford it. Cheers!

 

[DisneyHumbug]

You can never be too rich, too thin or have too many DVC points.