Terminating Contracts

[erikthewise]

I can never understand why people make a big deal about DVC contracts terminating in 2042 (or 2054) compared to other timeshares which last forever.

Anyway, let's put it to a market test.
How much would you pay per point TODAY for a DVC contract at your favorite resort that BEGINS in 2042 and lasts forever after that?

The idea is that this amount represents your evaluation of the fact that DVC contracts terminate.

Financial analyses are welcome. I can't promise I won't laugh at them, but I will promise to laugh to myself, not in public.

 

[CarolMN]

I'm not willing to pay anything. If I'm still alive in 2042, I'll be 90 years old.

I have no desire to leave my DVC membership (or anything else that requires an annual payment) to my heirs. I'd rather leave them cash - if there's any left aftr the nusing home of course. I plan to sell my DVC for whatever I can get if/when I lose interest in it or the physical capability to go.

If my heirs want to own DVC or any other timeshare, they should have the fun and resposibility of deciding for themselves. Who knows what WDW will even be like then! Maybe they would rather vacation on the moon or even MARS!

Doesn't bother me in the least that my contract expires in 2042! Who can guarantee that any timeshare will be well maintained and up to date with amenities for 50 plus years? Just because it lasts forever doesn't mean it will always be worth something! The timeshare contracts that last forever are likely to end up costing you $$ for something you no longer want, need or can give away!

Best wishes -

 

[DebbieB]

I can't imagine making a commitment now for 2042. Most current DVC'ers will be retired.

 

[kweaver]

Personally, I'd rather have a contract with a specific ending date...rather than a timeshare that goes on forever...potentially saddling my heirs with a large assessments when the place needs to be gutted and revamped.

I'll be 83 when our SSR contract is over...I think I'll be glad to let it go at that point!

 

[RuthnPaul]

My husband and I will be 91 and 90 respectively in 2042 so I'm thinking that, even if we're still alive, going to WDW wouldn't be high on my list of things to do!!

 

[pplasky]

Although I am not opposed to buying a timeshare that lasts forever, I don't see the point of buying one that won't start until 2042. What's the point?

 

[megrod74]

I'm probably one of the younger DVC owners and I still wouldn't want it to last longer than it does. (I'll be 68 in 2042). If I still want to go to WDW after that I'll pay cash.

 

[threegoofys]

I have to agree with the rest so far. If I am lucky to be still in good health and alive in 2042 I will be 70. Why would I want to purchase another contract that lasts forever if I will probably be getting to old to enjoy it? Yes, I could leave it to my kids;however,as much as we do with Disney, they may be sick of going to Disney by 2042. Dvc may not be what it is today in 2042 and I wouldn't want to burden my kids to pay fees on a run down building. Although a timeshare that lasts forever sounds nice right now, I think DVC is smart to termintate the timeshare after a certain amount of time.

 

[spiceycat]

Disney is not about to let their property run down - so that is not a worry....

Disney does not let anything go FOREVER - even the Shades of Green and the resorts in DD only have a 99 year lease - then WDW gets that back too.

So it is not strange of Disney to want it back.

I don't think they will change their policy. They couldn't get into Cal before of it - Cal requires all estate contracts to be for life.

of course the maintence fees will be alot higher.

but kept in mind the Polyn and Cont are both around 33 years old. Disney does not let its property go down hill.

 

[erikthewise]

Originally posted by pplasky
Although I am not opposed to buying a timeshare that lasts forever, I don't see the point of buying one that won't start until 2042. What's the point?

One possible point is that if someone is not willing to pay anything for part from 2042 on, then they should be willing to pay just as much for one that ends in 2042 as one that lasts forever.

Another possible point is that a purchase which increases in value very dramatically (i.e. from $1 to $100 in 38 years) might turn out to make good financial sense.

 

[timC]

$1 par value. I think that's reasonable.

 

[DIZNYFAN]

I would purchase it for my kids and grandkids to use because I will be really old by then LOL.

 

[JimC]

I voted would not pay because I will not be able to use it and I doubt our daughters will want to inherit a timeshare.

I doubt Disney would permit permanent residents on property. They annexed Celebration for that reason. It would greatly complicate their control of the the two towns and RCID that comprise the property.

 

[Dean]

Originally posted by spiceycat
Disney is not about to let their property run down - so that is not a worry....

Disney does not let anything go FOREVER - even the Shades of Green and the resorts in DD only have a 99 year lease - then WDW gets that back too.

So it is not strange of Disney to want it back.

I don't think they will change their policy. They couldn't get into Cal before of it - Cal requires all estate contracts to be for life.

of course the maintence fees will be alot higher.

but kept in mind the Polyn and Cont are both around 33 years old. Disney does not let its property go down hill.

Several points. I voted $6-10 pp because I think the idea would give some value to the contracts. I think you can take the number of people willing to pay and divide by half or more as the number that would actually put up dollars when the time came.

As for run down, I'd use the Contemporary and old Disney Institute area as a reference. The properties will become dated at best.

 

[DVC-Don]

Did not vote as I'll be 90 then.

 

[dianeschlicht]

In 2042, I'll be 94, DH will be 95 and our kids will be 73 and 68. I doubt we will be signing up again.

 

[bobbiwoz]

2042 is too close to our century mark, no DVC extension for us.

Bobbi

 

[laceemouse]

Like the rest of you, DH and I will be old as dirt by 2042. However, I still did not know how to vote on the poll. Surely we will have grandkids by then, but who knows what they will like to do for vacation. My only concern about an ending date, and we do own another TS that does not have an ending date, is what will happen as the end of our contracts draws near? What if for some reason we want/need to sell in 2025 or whatever??? Will any of us be able to sell our contracts at all as the end grows near? At some points will Disney just stop doing ROFR because they don't want them back???? I agree that my other TS in Williamsburg, Va. will probably be a dump in a few decades, and I guess we will just worry about that when the time comes, but I still have concerns/questions about how good our DVC membership will be when 2042 is bearing down on us. I must admit I have a lot of other things right now to worry about (4 kids and we just hit the teenage years!!!) but I do think about these things.....Lacee