Someone raised a good point will OKW maintance go up

[cherie68]

We just passed up SSS to buy OKW resale do you think that the yearly due will go up been that it is ten years old verses new constuction?

 

[Chuck S]

The resorts all have a fund that we pay into through our dues for scheduled major maintenance and rehabs...so unless something unforeseen happens like a fire or major hurricane damage, or a huge rise in general operational costs...I think they'll be pretty stable.

OKW has recently (I think it is completed) gone through a rehab with new couches and appliances.

 

[carol1231]

Wouldn't they have insurance for hurricanes and fires?

 

[Chuck S]

Yes, but then premiums would likely increase. Plus, whatever damage the insurance didn't cover would have to be made up by owners.

 

[cherie68]

Yes, but then premiums would likely increase. Plus, whatever damage the insurance didn't cover would have to be made up by owners.

Doest hat mean all of them would go up just incase god for bid

 

[PamOKW]

I don't think you'll see a rise in OKW dues that, percentage-wise, is much different than that at the other resorts. As Chuck pointed out, Disney has a pretty good idea of the lifespan of resort items like roofs, siding, furniture, appliances, etc., etc. and they budget the amount that is put into the capital improvement budget so we won't get socked having to pay for these items in one or two years. As you've figured out, if insurance costs go up, they pretty much go up for all the DVC resorts -- this is what happened recently with both employee and property insurance prices. OKW dues had pretty stable for nearly 5 years until the rise in insurance costs and the drop in interest being earned on saved money conspired to give us the first increase in 5+ years.

 

[cherie68]

Doest hat mean all of them would go up just incase god for bid

Thank you

 

[crisi]

Some people here do expect dues to go up slightly now that the pool slide is open. That involves staffing lifeguards and carrying more insurance. However, given the number of points those costs are being distributed to, I don't think it will be huge.

OKWs dues trend has been higher than most of the other resorts - they've been historically cheaper, but their increases have been higher - at this rate in a mere 20 years or so they will be the most expensive resort dues wise! However, there really isn't enough history to say that with any statistical confidence at all. And when you are comparing SSR - no history at all.

 

[OKW Lover]

We just passed up SSS to buy OKW resale do you think that the yearly due will go up been that it is ten years old verses new constuction?

Yearly dues will go up no matter where you buy. Take a look at the current dues levels and you'll find that they are pretty close between the WDW resorts.

OKW is nearly 14 years old, but IMHO is wearing well. I wouldn't base a buy/no-buy decision on this factor.

 

[dianeschlicht]

At the annual meeting they talked about how Florida increased taxes greatly for timeshares. That was why the big increases at all resorts the past couple of years. They have been trying to catch up to the tax increases.

 

[jmuboy]

Yeah, my dues at OKW on 150 points have gone up by about $100 since I bought in 5 years ago.

 

[jctwizzer]

Yeah, my dues at OKW on 150 points have gone up by about $100 since I bought in 5 years ago.

That works out to $1.67 per month or $20 annually...Not exactly a monumental increase. JMHO

 

[tjkraz]

Yeah, my dues at OKW on 150 points have gone up by about $100 since I bought in 5 years ago.

...and if you'd have bought 5 years earlier, your dues would have only gone up a total of $21 during that first 5-year period.

Just goes to show how cyclical these things can be.

 

[spiceycat]

the new slide pool and the lifeguards will make it go up make 1% -

from to 2.4484 to 2.5657 is a big increase for OKW. but percentage wise it is only 4.6% less than 5%.

I got told when I brought (okay years ago) - that they would try to kept it to 8% or less - most years it is less. One year it was more.

I think Florida laws allows an increase of 30% in one year?????

 

[BillM]

The present OKW dues structure for 2005 contains the cost of the Lifeguards.
As to insurance....For the last ten years I have been an owner of a condo in Ft. Myers. As a former insurance agent I handled the insurance on the condo. The increase prices during that ten years has been rather large. Few Florida insurance companies want to handle condo buildings, especially those with hurricane exposures. Our exposure at OKW from a dues standpoint would be increased pricing plus large deductibles in the event of severe damage. There would be little exposure to an uninsured loss. The same is true of all DVC resorts but maybe more so with HH and VB.