SSR vs Resale

[mc97]

We just returned from our trip where we joined DVC, purchasing 300 points at SSR...having never visited another DVC resort (except BW) we were happy, but really just wanted to become DVC members! Now that I'm home, with full access to DISboards, I'm learning much more about the resales and thinking that might be a better deal for us since it's cheaper and we're not necessarily in love with SSR. Would appreciate any thoughts from vetern or new DVC members on this. We have ~12 days to cancel our deal with SSR and receive a full refund. Thanks in advance!

Would also appreciate any insight to the resale process...what questions do we definitely need to ask in advance? Thanks again!

 

[SSRex]

Congratualtions on your decision to join DVC and welcome home no matter where your home ends up being. Interesting situation.

 

[tjkraz]

I'll just point out that the main advantage to SSR contracts (in my mind) is the extra 12 years of ownership. Ultimately that means that the SSR contracts will hold their resale value longer than the other properties. And, if you are young enough, those years may even be useful to you (or your children or grandchildren).

That said, with SSR you will only get 7 months to book at the other properties. If you're in a situation where you really don't mind where you stay, or at least don't mind trying the other properties on the occasions when your top choice(s) might not be available, then I would stick with SSR. Chances are you'll also save a few dollars per year in Maintenance over the resort(s) that may be your favorite.

But, if it's a situation where you NEVER want to stay at SSR, then I would certainly consider a resale.

 

[JimFitz]

Buy a resale and save the cash. Plus you can get a resale with some banked points. I am waiting on ROFR for an OKW contract with 500 banked points.

We looked at SSR and the extra twelve years did not matter to us. Also, $95 a point is very expensive

 

[Deluzy]

We went back and forth regarding To Buy or Not To Buy resale and we ended up going with purchasing SSR (without even seeing it!). Here were our main reasons for the decision:

1) The additional years
2) The maintenance fees
3) Financing thru Disney allows us to deduct any interest on our taxes as it is a secured loan. That is something that you cannot obtain with Tammac or other banks. Granted, we are planning on paying it off in a shorter amount of time - we will take what we can get in saving interest (albeit not putting the purchase on a low interest credit card).
4) We took advantage of the deal that they offered by pushing our use year to 2005 (so no points this year unless we borrow).

Now, that all being said, if we decided to get more points for whatever reason and we planned on paying cash, we may purchase thru resale or perhaps we will wait a few years and see what Disney opens next!

~Suzy

 

[bobbiwoz]

Hi!

We own BWV, VB and VWL, and we'd be happy if those were the only places we would be allowed to stay. (We are happier that we do have the choice of the other DVC properties at 7 months.) We have reservations at SSR and we have stayed at BCV. When you went on the tour, did you really like what you saw, or did you say, well, this is nice, but by buying into SSR, we can also stay at __________.

It's your call!

There are resales, and someone is going to buy them.

Bobbi

 

[mc97]

Thanks for all the quick replies and great advice! We really liked SSR and would have no problem if we had to just stay there forever, but we are definitely the type of couple (no kids yet) who enjoys staying at new places whenever possible...but maybe that's just because we haven't found that "perfect" home yet?

So unless we really like another DVC resort more than SSR, which we don't know since we've never visited/stayed at any of them, it sounds like we made a good decision for us. Is one home resort or another better for getting reservations elsewhere or are your chances the same everywhere?

Thanks again and please keep the advice coming!

 

[Granny]

Originally posted by mc97
Is one home resort or another better for getting reservations elsewhere or are your chances the same everywhere?

Once you get to the 7 month window, it's a free for all!

Seriously, once you get to the 7 month window, every DVC owner (including VB and HH) have exactly the same access to every available acommodations at every DVC resort.

Enjoy your membership...SSR looks like a great DVC home!

 

[tjkraz]

In your situation, if you know your travel dates ahead of time, many people will call and get a reservation at their Home resort. That way you're guaranteed of having SOMETHING reserved.

Then, when you reach the 7-month window, you can call and try to change your reservation to any of the other properties. If you can't get all of the dates you need at another resort when you first call, you can even go on the waiting list. If your dates become available anytime over the next 6 months, the reservation will be automatically booked in your name, and the duplicate reservation cancelled.

Home resort priority is really important if you are very particular about where you want to stay. But, if you're the type of person who wants to try the other resorts but would be just as happy being "stuck" at SSR, then I wouldn't bother looking elsewhere.

Welcome Home, neighbour!

 

[JimC]

You might want to consider lowering your SSR purchase to 150 points and buying a resale for 150 points at another DVC resort.

Advantage is that you get into SSR and the extra 12 years while you also get into another resort for 11 month booking window if you want that.

 

[tjkraz]

Originally posted by JimC
You might want to consider lowering your SSR purchase to 150 points and buying a resale for 150 points at another DVC resort.

Good suggestion!

Even if you want to keep all of your points at SSR, ask DVC to split you into two contracts of 150 points each.

Contracts can never be subdivided by the owner--only DVC can do that. So, if you reach a point in your lives where you are only going to WDW half as often as before, you would have no problem selling one 150-pt contract and keeping the other. Or, if you have two children, it would be very easy to will, sell or otherwise transfer one contract to each.

If you stick with the 300 pt contract, your only option is to sell or transfer the entire block to another owner.

 

[JudyS]

It can be a hassle to find a resale contract at BWV/BCV/WLV, especially if you want one with banked points. That said, I feel the resale contracts are a better deal, except for people who strongly prefer SSR.

I recently bought resale at BWV.

 

[JimC]

Originally posted by JudyS
It can be a hassle to find a resale contract at BWV/BCV/WLV, especially if you want one with banked points...

I believe the important issue is the price you pay per point for the remaining term of the contract. Take your offer and add in closing costs and any dues you pay until you get points. Calculate the total number of points acquired over the remaining term. Divide the total cost by the total number of points. Sometimes the stripped contracts are the better deal, sometimes they are not. But I do agree that finding the contract you want can take some time.

 

[mydogdrew]

We just bought a 200 point BWV contract with full 2002-2004 points for $76. We're using 2002 and selling 2003 and 2004 so our net cost is ~ $56. SSR seems ok to me but nothing special. The extra years are worth something extra only if you love the resort. We'll see what happens when the resales start showing up in numbers - I bet they sell for the same as other resales eventually. One other thing to consider - our contract @ $56 can pay for itself in 9 years by renting points ($6, net of dues annually) vs. 16 for SSR. We don't plan on this but it is a consideration.

 

[av8tor]

Just went thru the same process. We were all set to buy SSR from Disney having never looked at it or any of the other DVC resorts. I decided to do a little research before finalizing the deal and discovered the DIS boards. I got a lot of good advice from all the great people here but the overwellming response was to decide what resort we were most interested in owning at and buy there.

The other big issue when deciding between SSR or resale is the cost vs. the extra 12 years. If you search the threads from the last 60 days or so you will find a lot of interesting analysis's of this issue. You will find everything from the unusual to some very sofisticated financial comparisons. In the end I didn't feel either one had a significant financial advantage over the other. Bottom line, it is a personal decision. Decide what is most right or feels the best to you and your family and go with it. You have already made the most important decision, to join DVC. We never felt that this was a right vs. wrong decision, just a choice between two VERY GOOD options.

We ultimately decided to buy a resale contract at BCV because this was clearly the resort that appealed the most to us. Signed the papers on 6-1-04, passed ROFR on 6-15-04, closed on 6-29-04, got member number and made first reservation on 7-2-04, making first trip to WDW as DVC members on 9-12-04 (BCV 2BR for 1 week).

If you decide to go with a resale my only advice is to find a contract with banked points and all current points. You don't seem to pay much of a premium for this. Our contract is for 200 points and came with an extra 186 points.

Good Luck!!!

 

[JudyS]

Originally posted by mydogdrew
We just bought a 200 point BWV contract with full 2002-2004 points for $76. We're using 2002 and selling 2003 and 2004 so our net cost is ~ $56....

Wow, I'm impressed! I found it hard to even find an October BWV contract with all 2004 points and half of 2003! Do you have a December use year? (I'm assuming that would be the most likely use year to still have 2002 points left.) Where did you find this contract?