Thoughts on Poly?

[rsn8or]

We just signed the contract a few days ago to become owners at the Poly! Really excited as we will be first-time owners and we've been eyeing this for over a year now.

The contract is for 110 points @ $149 with an October use year, with no points until 2021. Looking at some of the deals people got earlier this year and in the ROFR thread, I can't help but have a sense of FOMO and think we may be overpaying.

Here is our reasoning though.

1. We want the October UY because we live in FL and like to visit when the weather is nice between November and April. My understanding is that Sept and Oct use years are hard to find.

2. We want to book a trip in Dec 2021 with the home resort priority because we really love Poly, and if we wait much longer to buy a contract, we won't be able to book at 11 months. Even this I know is cutting it a little close with the time it is taking for points to get loaded in our account, we are looking at January possibly before we can even make our first reservation.

3. If we want to use some points in spring 2021, we can probably just rent what we want, rather than pay more for a loaded contract. I know this won't be the case for long, but last month we rented a weekend at Beach Club for $9/pt, lol.

3. On the instant sale/valuation tool on DVC resale market, this contract has an 'instant sale' price of $134 and an automated valuation of $161. I know the brokers are putting upward pressure on prices right now. But if you split the difference on these valuations, you get $147.50 which is really close. If the broker values their time to facilitate a deal at their 8.5% commission, if you add that to $134, you get $147.50. (I have no idea what their actual formula is -- just a guess because the math makes sense) And the instant sale is their $, so they are "putting their money where their mouth is", so to speak. I've had my eyes on Poly listings at 8 different resale sites, and I only see prices go under $150 if it's a larger contract of 150+ points. The ~100 pointers are consistently in the $160-$170 range, even stripped, and they would have to come down at least 10% to get to $149.

So, are we crazy?

 

[RoseGold]

Sure, maybe you could have done $5ish better. On a 110 point contract, that's $500ish. In a deal this size, $500 probably isn't going to make or break it.

Reality is most of the cost is dues anyway:
https://www.dvcresalemarket.com/blog/best-economical-dvc-resort-to-purchase-spring-2020/
And Poly is an awesome choice for dues, longetivity, ease to rent, and LOCATION.

BUT if you are having second thoughts, back out. There will always be another contract.

Resale historically has a lot of inventory in January when dues come due, but 2020 has been anything but normal. Dec 2021 also might be very hard to book with all the extra points floating around, and historically December is tighter than the rest of the year anyway. So you might need 11 month to book December 2021 especially.

So, I wouldn't let $500 stop it, if you know this is the contract you want.

 

[DVCanonymouse]

Aloha and congratulations!! You purchased an amazing home at a nice deal! And you saved OVER 10K vs direct!!

Could it have been a few dollars cheaper? Maybe...maybe not? But over the course of the 45-46 years remaining on the contract...maybe save $1 per month? Not worth the FOMO when you found exactly what you want and you don't have to look anymore. Just enjoy your membership!

 

[Wedgeout]

Don’t over think the slight difference one or the other paid resale compared to the thousands you saved over the direct purchasers. The contract was a match for you. You will always be even with everyone else when paying yearly fees.

 

[Jack_Sparrow_NJ]

Poly is a great resort. The contract works for you. Even if you could have saved a few $$ it doesn’t matter in the grand scheme of things. Welcome home !

 

[rsn8or]

Thank you all for the insights and perspective!

Looking at the dues history, they haven't gone up much at all year over year, compared with a lot of the other resorts. Definitely like buying into a great resort with such low dues! I'm curious if that trend is likely to continue, like if Poly and some of the other lower-dues resorts are inherently cheaper to maintain than the others?

 

[Where'sPiglet?]

Thank you all for the insights and perspective!

Looking at the dues history, they haven't gone up much at all year over year, compared with a lot of the other resorts. Definitely like buying into a great resort with such low dues! I'm curious if that trend is likely to continue, like if Poly and some of the other lower-dues resorts are inherently cheaper to maintain than the others?

I agree with the PPs - you found a contract that works for you, and you settled on a price that works for you.

I don't exactly know about the dues and how some seem cheaper to maintain than others. Poly is a small resort and split between DVC and cash rooms, and Saratoga is a massive resort and 100% DVC. Both are on the lower end of annuals dues list.

I do know what the top three for dues have in common though. They are the beach resorts: Vero, HHI, and Aulani.

 

[MICKIMINI]

October is a really tough month to get so take that into consideration. Honestly, I think you overpaid by about $10 per point and you are the only one that knows if that will bug you forever or not. I think $149 is a fair price for a loaded contract with 2020 points.

You can rescind within 10 days, but it may take forever to find another contract in the size and UY that works for you. Planning for next December will be close if you have to start over but not impossible. Sleep on it...

 

[DisneyTim76]

We just signed the contract a few days ago to become owners at the Poly! Really excited as we will be first-time owners and we've been eyeing this for over a year now.

The contract is for 110 points @ $149 with an October use year, with no points until 2021. Looking at some of the deals people got earlier this year and in the ROFR thread, I can't help but have a sense of FOMO and think we may be overpaying.

Here is our reasoning though.

1. We want the October UY because we live in FL and like to visit when the weather is nice between November and April. My understanding is that Sept and Oct use years are hard to find.

2. We want to book a trip in Dec 2021 with the home resort priority because we really love Poly, and if we wait much longer to buy a contract, we won't be able to book at 11 months. Even this I know is cutting it a little close with the time it is taking for points to get loaded in our account, we are looking at January possibly before we can even make our first reservation.

3. If we want to use some points in spring 2021, we can probably just rent what we want, rather than pay more for a loaded contract. I know this won't be the case for long, but last month we rented a weekend at Beach Club for $9/pt, lol.

3. On the instant sale/valuation tool on DVC resale market, this contract has an 'instant sale' price of $134 and an automated valuation of $161. I know the brokers are putting upward pressure on prices right now. But if you split the difference on these valuations, you get $147.50 which is really close. If the broker values their time to facilitate a deal at their 8.5% commission, if you add that to $134, you get $147.50. (I have no idea what their actual formula is -- just a guess because the math makes sense) And the instant sale is their $, so they are "putting their money where their mouth is", so to speak. I've had my eyes on Poly listings at 8 different resale sites, and I only see prices go under $150 if it's a larger contract of 150+ points. The ~100 pointers are consistently in the $160-$170 range, even stripped, and they would have to come down at least 10% to get to $149.

So, are we crazy?

We just signed a purchase agreement today for 200 Poly points at $134/ point. So deals are out there. It just takes a bit to find them.

With that being said, sounds like you’ve got a solid contract with your preferred use year (we got December). We would have loved to get a little earlier month like October but compromised on use year based on the financial savings.

Can you save a little money? Sure. Is it worth the time, potential stress/ anxiety to find a new deal & close in time for Dec 2021 11 month window? That’s obviously for you to decide.

Good luck with whatever you chose to do.

 

[DebLovesPooh]

I think you made a great choice! Some will pay leas than you and others will pay more. If you’re happy with your purchase then I think you’re doing awesome. And it sounds like you’re thrilled! I wouldn’t change a thing.

 

[RanDIZ]

Yes there were some great POLY deals to be had earlier this year, but I think sub $150 is still good. A couple hundred dollars over the course of a contract isn’t huge. I’m still kicking myself over a 50 pointer I passed up earlier this year for $130.

 

[RaymOOOnd]

We spent $139 for a 175 point contract very early in the year -- and then swapped out our first (upcoming) booking there in favor of Cooper Creek since I didn't think we'd get the full experience with the resort proper being closed. Kind of a bummer but we're really excited to check out Copper Creek.

When we bought I was shocked at how undervalued it seemed. This is a legendary MK resort walkable to VGF and now MK and the TTC with unbeatable theming and huge studios. I'm pretty sure that the amount you paid will seem a huge bargain in a few years.

 

[3 DD love princesses]

You can always resend if you are within the timeframe. There will always be a better deal or you will see one that passed lower than what you paid. As long as you are happy with your contract that’s all that matters at the end of the day. I had 2 blt taken by Disney so decided to look for a poly. Took 4 months until I found one I was willing to pay for and get an offer accepted. Good luck with your decision.

 

[Pluto777]

We just signed a purchase agreement today for 200 Poly points at $134/ point. So deals are out there. It just takes a bit to find them.

With that being said, sounds like you’ve got a solid contract with your preferred use year (we got December). We would have loved to get a little earlier month like October but compromised on use year based on the financial savings.

Can you save a little money? Sure. Is it worth the time, potential stress/ anxiety to find a new deal & close in time for Dec 2021 11 month window? That’s obviously for you to decide.

Good luck with whatever you chose to do.

Don't forget also that it's not only contract size but very importantly HOW MANY POINTS are on the contract; a loaded vs stripped contract is a big factor that some may overlook when they are looking at the price per point only.

 

[LillianBelle]

We just signed the contract a few days ago to become owners at the Poly! Really excited as we will be first-time owners and we've been eyeing this for over a year now.

The contract is for 110 points @ $149 with an October use year, with no points until 2021. Looking at some of the deals people got earlier this year and in the ROFR thread, I can't help but have a sense of FOMO and think we may be overpaying.

Here is our reasoning though.

1. We want the October UY because we live in FL and like to visit when the weather is nice between November and April. My understanding is that Sept and Oct use years are hard to find.

2. We want to book a trip in Dec 2021 with the home resort priority because we really love Poly, and if we wait much longer to buy a contract, we won't be able to book at 11 months. Even this I know is cutting it a little close with the time it is taking for points to get loaded in our account, we are looking at January possibly before we can even make our first reservation.

3. If we want to use some points in spring 2021, we can probably just rent what we want, rather than pay more for a loaded contract. I know this won't be the case for long, but last month we rented a weekend at Beach Club for $9/pt, lol.

3. On the instant sale/valuation tool on DVC resale market, this contract has an 'instant sale' price of $134 and an automated valuation of $161. I know the brokers are putting upward pressure on prices right now. But if you split the difference on these valuations, you get $147.50 which is really close. If the broker values their time to facilitate a deal at their 8.5% commission, if you add that to $134, you get $147.50. (I have no idea what their actual formula is -- just a guess because the math makes sense) And the instant sale is their $, so they are "putting their money where their mouth is", so to speak. I've had my eyes on Poly listings at 8 different resale sites, and I only see prices go under $150 if it's a larger contract of 150+ points. The ~100 pointers are consistently in the $160-$170 range, even stripped, and they would have to come down at least 10% to get to $149.

So, are we crazy?

This is literally my first post, so I will probably mess it up on many levels. I am in almost the exact same position; offer accepted for a 175 points at Poly, Oct UY, no points until 2021, $147. It's my perfect contract and within my budget. We have a pre-paid points rental trip in early 2021 and wouldn't make it back until December 2021 (our favorite time to come, so also rushing for that 11 month window). You aren't crazy; I'm having the same thoughts. But I've decided I'm going to sign with joy and not lament a few theoretical dollars.

Good luck with whatever contract you choose!

 

[KAT4DISNEY]

Oct UY contracts at the Poly actually aren't that rare. I'm haven't noticed if one UY was sold more than another there like it definitely was at BLT (Feb) or AKV (Dec). So don't feel like finding an Oct contract means you should pay more.

 

[iheartglaciers]

If it's the perfect UY and contract size, I wouldn't worry about getting the absolute best deal. It's really not that much money over the course of the contract length and having the right UY can be invaluable if you do travel during specific times of the year. I also have a October UY and it's perfect for us (we don't usually travel to Disney June-Sept).

 

[Spark65]

If you felt good about the deal when you finalized it .. it was a good deal no more no less. A good deal is what YOU feel is a good deal not what others say it should be.

Businesses make deals all the time base on what they feel is a good deal maybe not what the investors may tell them it is.. Capisce (capeesh)?

Have a great time at Poly from another Poly owner!!!

 

[justadreamaway77]

October is a really tough month to get so take that into consideration. Honestly, I think you overpaid by about $10 per point and you are the only one that knows if that will bug you forever or not. I think $149 is a fair price for a loaded contract with 2020 points.

You can rescind within 10 days, but it may take forever to find another contract in the size and UY that works for you. Planning for next December will be close if you have to start over but not impossible. Sleep on it...

We have an October UY and it is hard to find additional contracts to add on. I would probably do a different UY

 

[Hawkeyegirls]

I would say we got a good "deal" at $130 for 100 points. But honestly I think it was just the right place at the right time for us. I looked for about 2 weeks, made offers on like 3 contracts and was the "runner up" for this one as the first buyer fell through. Since the process went fast it was worth it, but if it would have taken longer I would have been ok paying a little more. Its stressful making offers and waiting, and in the whole contract saving $1-2K isn't much when you think about 40+ years.