Thinking of purchasing a 1 bedroom Apartment With SSR

[angel659]

Hiya

We are interested in purchasing a 1 bedroom apartment with SSR. Apparently if we bought 200pts that would give us our 2 week break every other year, which will fit with our criteria at the moment.

However, I am interested in the 2 bedroom apartment, but I am concerned about how much more it is to purchase.

I will be studying in 2 years for 3 years to be a qualified nurse so money will be tight then and a bigger loan may not be optional.

Would you suggest a 1 bedroom or buy a cheap re-sale and then add on the extra points from Disney. or buy the whole contract with Disney. Due to closing fees from a re-sale.

If I am understanding this correctly we would be topped up with whatever contract we bought and the addional points we purchased with Disney? On a yearly basis.

We will be travelling with myself, dh, 6 yr old dd and twin boys who will be 2 this month.

 

[Hilary]

We are interested in purchasing a 1 bedroom apartment with SSR.

With DVC you don't buy into a 1-bedroom or a 2-bedroom apartment. The points you purchase are used to spend on whichever size accommodation you need each trip. For example, you may want a 1-bedroom this year, but fancy a splurge on a 2-bedroom next trip, or a studio for just you and DH a few years down the line. The number of points in your contract will be allocated every year for the term of your contract and you can bank and borrow from year to year (within limitations). You don't buy into a particular apartment as you would with a conventional timeshare.

You need to work out the difference in the number of points you'll need for a 1-bedroom or a 2-bedroom - the number of points required will vary according to the time of year as well as the resort and size of accommodation you think you'll want. Apart from the initial cost difference, you'll also be paying more in annual maintenance fees the more points you own (as a rough guide the annual fees are currently around $4 per point).

The other thing to mention is that the occupancy for a 1-bedroom is four people plus one child under three, a 2-bedroom will accommodate eight people plus a child under three (in a cot). It looks as though the 1-bedroom will suit you for only a short period!

 

[Miffy2003]

Hello,

as Hilary explains you buy points which you then "spend" on accommodations.

For a 2 bedroom for 2 weeks these are the points cost in an "average" points season (accommodations cost more and less in points at different times of year, so Xmas/Easter weekend is the most expensive etc)

OKW 526 points
SSR 570 points
BCV 628 points.

So if you went for 1 fortnight once every two years you would need the following number of points for the above examples:

OKW 263 points
SSR 285 points
BCV 314 points.

As Hilary says the dues are APPROXIMATELY $4 per point (it varies per resort, but as we are in the UK it varies more dramatically based on what the exchange rate it doing at the time anyway). So your dues once per year if you bought the points I list above would be:

OKW $1052
SSR $1140
BCV $1256.

These are due to be paid in Jan / Feb every year and may increase as years go by (but by no more than a certain %) and I think in the past dues have even gone down! They are obviously on top of your initial outlay of $24000 (approx) to buy the points in the first place