Thinking about Buying OKW - Am I missing anything?

[Mrs.Milo]

Well, I guess I'd ask what the appeal of OKW is over another resort. Just the price, or something else? See @disneynutz above. What's the reason you've attached this "buy DVC!!!" to OKW, versus AKV or BLT or somewhere? (We know SSR isn't ringing your bell thematically.)

Because of how the extension went, it will be hard for Disney to just scrap OKW, because the deeds do attach to specific units in the resort. They aren't consistently all in one area or a couple buildings, so they can't just tear a building with outstanding ownership down as I understand things.



We bought OKW in 1993, and what I remember would make this correct, our deed was attached to bldg 23.

 

[njprb]

I probably am too attached to the idea of one specific resort. Initial cost has a lot to do with my interest in OKW. I do really love the resort though...very relaxing vibe that I don't feel at many resorts. I think general availability is another factor...I would love to do AKV. I couldn't afford some of the other resorts at their current price points.

I agree 100%. We love the atmosphere at OKW as well. We've owned there for over 15 years and have stayed at many of the others but it is still one of our favorite and preferred places to stay and walk around the resort. We do prefer the 1bd over a studio, for the kitchen and laundry in the room. That's a big plus for us. This year we did decide to add another contract at BCV, then threw out a low ball offer on another OKW that was asking $63., seller took it and it passed ROFR to our amazement.
BTW, we were from NJ so Saratoga Springs did not appeal to us either. Also, OKW used to have one of the lowest maint fees.

 

[Mrs.Milo]

Well my comment didn't attached, sorry, we bought in 1993 and our OKW deed was attached to bldg 23.

 

[Dean]

I have been doing research on DVC on and off for about a year. To give you a little background, my family has been visiting Disney World since I was 3 years old (1983). I live in northern NY about 3 miles from the Canadian border so the trips were always infrequent and special. I have been 11 times for 8+days . I am now 36 years old. My wife and I do not have any kids. We both have good jobs (not rich by any means but doing well). As of now we plan 10-14 day Disney trips once every three years. Up to this point we have stayed at Pop Century in recent years.

A lot has changed for us in the last couple years financially. We have very stable jobs for a growing company that isn't going anywhere. So we are finally taking our honeymoon trip 11 years late next year. So with that we are looking at renting DVC points for the first time and my mind began to wonder. What if we bought into DVC? OKW is one of the more affordable places. I have visited the resort and loved it as well. I live 2 hours away from Saratoga Springs in NY so the SSR doesn't do it for me. I fully realize that buying into DVC isn't a financial investment. This is something I want...not something I need. I am looking at 75-125 point buy in and taking every other year trips from here on. Maybe some will be resort only stays as time goes on. Going forward, we planned on upgrading our Disney accomodations for our trips so the timing is right. So I am either looking at buying before our next trip or use this trip renting points at OKW as a gauge for what we want to do. So with that...here are the questions:

1. Has anyone else taken this approach? Renting to see if buying makes sense?

2. I think I understand the Use Year deal. I don't think this issue matters too much for us. Am I right that UY isn't a big deal if we aren't in a position where cancellations matter?

3. We would like be staying November-February every visit. What UY month would you go for?

4. With a 2057 expiration, what price per point is fair for OKW? I see one listing I have interest in but $87 seems high.

5. Would you wait until after the next trip to buy?

If you've been consistently staying on property at a mix of moderates and Dlx, renting probably doesn't add much other than I wouldn't rush around to get this trip on the points as a savings though, you'll likely cost yourself more in the long run if you do. If it's late 2018 you should have time to do both. But for most people renting first is the best options. IMO UY is important for most people but it might be less so. Everyone is at risk for potential cancelations. If there will be at time of year you're likely to travel, I'd see it as very important. If it's consistently Nov to Feb, then I do think UY is very important. I haven't followed OKW but I get the impression you're looking at it as a cheaper option and it really isn't. IMO one can reserve with other points consistently at OKW, even if you plan to stay there most trips, I'd buy elsewhere even if it's SSR though BLT or AKV might be a better choice. That way you'll have either a cheaper long term option and/or other choices you won't have at OKW.

 

[hosler427]

If you've been consistently staying on property at a mix of moderates and Dlx, renting probably doesn't add much other than I wouldn't rush around to get this trip on the points as a savings though, you'll likely cost yourself more in the long run if you do. If it's late 2018 you should have time to do both. But for most people renting first is the best options. IMO UY is important for most people but it might be less so. Everyone is at risk for potential cancelations. If there will be at time of year you're likely to travel, I'd see it as very important. If it's consistently Nov to Feb, then I do think UY is very important. I haven't followed OKW but I get the impression you're looking at it as a cheaper option and it really isn't. IMO one can reserve with other points consistently at OKW, even if you plan to stay there most trips, I'd buy elsewhere even if it's SSR though BLT or AKV might be a better choice. That way you'll have either a cheaper long term option and/or other choices you won't have at OKW.

I seemed to have had a mental block when I first posted this thread. As much research as I did, I kind of got tunnel vision. I think I am going to patiently look for a lower point contract at AKV for the long term but am not closing out the possibility of any other resort if the price is right. I was too narrow in my view to begin with so this post has helped me immensely.

 

[Shellyred8]

Thank you! All great feedback. I hadn't thought of doing a DVC tour honestly...is there a benefit to this? Anything I can gain in person that I can't from doing research?

If you do a tour in person, you can gain some ice cream! You get free ice cream after your tour (at least you used to...). We also got a couple of fast passes. Not sure if they do that anymore or not either.

 

[Dean]

I seemed to have had a mental block when I first posted this thread. As much research as I did, I kind of got tunnel vision. I think I am going to patiently look for a lower point contract at AKV for the long term but am not closing out the possibility of any other resort if the price is right. I was too narrow in my view to begin with so this post has helped me immensely.

I'd recommend against being open to any home resort or UY. I'd decide which options best fits your needs and situation then proceed accordingly. Unless you'll stay at OKW in a 3 BR, that's very unlikely to be OKW. I'd determine the best home resort and UY, how difficult finding a contract is likely to be and the minimum and ideal points contract. For SSR, AKV or OKW I be very strict on the UY and points availability, for some of the others, a little less so esp on the points accounting and somewhat on the price.

 

[hosler427]

I'd recommend against being open to any home resort or UY. I'd decide which options best fits your needs and situation then proceed accordingly. Unless you'll stay at OKW in a 3 BR, that's very unlikely to be OKW. I'd determine the best home resort and UY, how difficult finding a contract is likely to be and the minimum and ideal points contract. For SSR, AKV or OKW I be very strict on the UY and points availability, for some of the others, a little less so esp on the points accounting and somewhat on the price.

I mistyped my thoughts...What I meant was I am going to target AKV but wouldn't close out the possibility of certain other resorts if the price is right. My wife absolutely loves Animal Kingdom and Animal Kingdom Lodge so I think I want to go 100-125 points on AKV. I think that will work out well for taking every other year trips and still have a cushion for points.

 

[pauly's girl]

We are also thinking of buying. We normally go to Disney every other year and would probably go every year if we did purchase. We are only a 6 hour drive away now. We decided to rent at several resorts first. This year we are staying at AKV and SSR. I would definitely suggest renting first. I have several friends that bought and now never stay at their home resort because they prefer other resorts. For us, we wouldnt' be able to buy more than one for quite awhile so we want to be sure we buy where we love!! Good luck!

 

[Dean]

I mistyped my thoughts...What I meant was I am going to target AKV but wouldn't close out the possibility of certain other resorts if the price is right. My wife absolutely loves Animal Kingdom and Animal Kingdom Lodge so I think I want to go 100-125 points on AKV. I think that will work out well for taking every other year trips and still have a cushion for points.

I'd still recommend against just openly looking for a great contract and then making an offer, the range on costs isn't enough to make savings worth it. If it was, one might simply look at HH or VB as a means to getting cheaper points. I'd still open up to a little larger contract, the price per point and the range of contracts available will be much better. It'll also be more likely to find a loaded contract if you have a larger range of points. Now if you're split on a couple of resort choices, looking at both isn't unreasonable but not just generically looking for "a great contract". But you should be able to find that size contract at AKV and find a reasonable price and points accounting, it just might take a bit longer.

 

[hosler427]

I'd still recommend against just openly looking for a great contract and then making an offer, the range on costs isn't enough to make savings worth it. If it was, one might simply look at HH or VB as a means to getting cheaper points. I'd still open up to a little larger contract, the price per point and the range of contracts available will be much better. It'll also be more likely to find a loaded contract if you have a larger range of points. Now if you're split on a couple of resort choices, looking at both isn't unreasonable but not just generically looking for "a great contract". But you should be able to find that size contract at AKV and find a reasonable price and points accounting, it just might take a bit longer.

I am not quite dumb enough to go for HH or VB contract. It isn't only about the price because it is much more complex than that. Weighing all the options is obviously important. Technically for what I am looking for about 75 points is more than enough to accomodate what I need. So in reality I am already looking above what I absolutely need. I will allow some wiggle room of course. What I was trying to get at was, I am going to keep an open mind (within reason). Like I said in previous posts, this thread has been great for me and I appreciate all the help/feedback. I feel like I have a much better understanding of what I want going forward.

 

[Dean]

I am not quite dumb enough to go for HH or VB contract. It isn't only about the price because it is much more complex than that. Weighing all the options is obviously important. Technically for what I am looking for about 75 points is more than enough to accomodate what I need. So in reality I am already looking above what I absolutely need. I will allow some wiggle room of course. What I was trying to get at was, I am going to keep an open mind (within reason). Like I said in previous posts, this thread has been great for me and I appreciate all the help/feedback. I feel like I have a much better understanding of what I want going forward.

Good luck and let us know how it works out.

 

[kniquy]

36 years old

At your age think about the expiration -- you can get deals for the 2042 OKW, but for a little more the 2057 will get you much more time. I just think the 2057 OKW are sometime hard to come by. This might be why you could consider some of the other decent price per point, longer expirations such as SSR or AKV.

Renting to see if buying makes sense?

We rented only once before buying. We didn't even rent with the idea of purchasing, but it was nice to see and compare what the moderate resorts were compared to deluxe.

4. With a 2057 expiration, what price per point is fair for OKW? I see one listing I have interest in but $87 seems high.

There is a thread called ROFR - I'm sure some previous poster mentioned it but it can give you a decent ball park for where the price should be. For a 2057 you probably are looking at the high $80's

Would you wait until after the next trip to buy?

If you are certain you want to buy in and have the cash to do so then the biggest factor is when you are planning your next trip. buying resale can take up to 6 months or more with finding the right contract and then going through the paperwork and waiting game of the ROFR and closing. If you are flexible with when your next trip is then if you bought tomorrow, you could have your contract in 3 months, then you could be in a good position to book for something next february. It almost make sense to buy now (depending on how much you have educated yourself on what you are buying and its limitations) put the money you would use from renting towards your purchase.

Just keep in mind that you are not locked into one resort nor even one resort for a long trip. Many people will book their home resort at 11 months and then switch to another resort at the 7 month mark.

 

[keishashadow]

I would look into AKV as well, might not be as cheap as OKW or SSR, but it isn't that more expensive. But I think it is generally available at the 7 month window.

Depends on the unit, certainly not the value category

 

[hosler427]

Thanks to a ton of research and everyone in this thread beating some tough points into my head, I think I got this now...Give me some feedback

I was tempted to put in an offer on a contract for AKV over the last day even though I was planning on waiting. The points are perfect at 100. The 2017 and 2018 points are loaded so it would accomodate our vacation next year. I talked myself out of it simply due to the UY. As I stated in the inititial post, our travel will almost 100% of the time be November-January with an outside shot at October or February. The UY for the contract I was looking at was March. Am I right thinking this is probably the worst UY I could get?

One last DVC question. Am I right that you can make reservations at the 11 month window regardless of your current point totals? The points are only significant at the time of the stay. If I have these two aspects right, I think I finally fully understand DVC. Of course, now that I said that I will run across something else that makes me scratch my head.

 

[_auroraborealis_]

Am I right that you can make reservations at the 11 month window regardless of your current point totals? The points are only significant at the time of the stay.

Correct. Otherwise the 11-month window would be a brutal lie, much like the Via Napoli pizza window.

 

[hosler427]

Correct. Otherwise the 11-month window would be a brutal lie, much like the Via Napoli pizza window.

It only makes sense that you pay when you stay but I just wanted to be 100% sure on that fact. If I buy a contract that doesn't have any points currently available I wanted to be sure as long as at the time of the stay I did, I would be golden. Thanks so much aurora

 

[jerseyduke]

I think you have 2 different questions.

1. Should I buy DVC at all?
2. Should I buy OKW?

1. You have done your research, you know what you are buying.
2. I would not buy at OKW. Unless you want OKW at high demand times, you can usually get it at 7 months - also assuming you do not need Near the hospitality house. To me, OKW has next to zero home court advantage. SSR is more expensive, but has an extra 15 years of life, plus lower MFs. IMO, it is a much better value.

So, unless staying at OKW is of virtually paramount importance, I would buy SSR. I like OWK better than SSR, and I would buy SSR to stay at OKW. However, if I "had to" stay at SSR 20% of the time, as opposed to OWK, I would be ok with that.

 

[kboo]

Thanks to a ton of research and everyone in this thread beating some tough points into my head, I think I got this now...Give me some feedback

I was tempted to put in an offer on a contract for AKV over the last day even though I was planning on waiting. The points are perfect at 100. The 2017 and 2018 points are loaded so it would accommodate our vacation next year. I talked myself out of it simply due to the UY. As I stated in the inititial post, our travel will almost 100% of the time be November-January with an outside shot at October or February. The UY for the contract I was looking at was March. Am I right thinking this is probably the worst UY I could get? ...

Pretty much! For those vacation times you'd want August - November UY to cover a potential February vacation, and you could go as early as a Jun UY if you're ok with a rare Feb trip where you're past your banking window. I think. I'm pretty new at this still.

 

[bobbiwoz]

I do not own at OKW, but if I did, I know I would have booked a Grand Villa there. The point cost is very attractive!

I wonder if the folks who suggest renting do rent their points.