Totally confused Disney vs Resale

[TwingleMum]

How do I figure whether Disney or a resaler is the way to go? Lets make it simple and pretend I'm buying 200 pts and I'm not locked on a particular home resort. Disney selling BCV would cost me 200 x 84 = 16800.00 A resale at lets say VWL going for 70/pt would be 200 x 70= 14000.00. (no banked /borrowed pts to make it easy Feb use year full points for 04) Since no pts for 03 I shouldn't have to pay for 03 but Would be responsible for 04 tax/maint (which would be same for Disney) My Dh isn't into the MB, he doesn't want to lose a whole year. So it looks like resale would save me $2800.00 How do I calculate in closing costs?? What are they on average. I may pay cash so I'm not considering financing.

 

[ArnyVee]

Generally closing costs are in the $400-$500 range. So, place that into your figures.

Also, you have to realize that a resale can delay you being a DVC'er by about 2 months. While, Disney can have you makin' reservations as soon as the deposit is given to them.

It's based on a personal preference and dependant on whether or not you need the contract right away. In my case, I was able to wait a couple of months searchin' for the right one.

If you have time to look, search for one with banked points which IMO makes it even more attractive to own a resale.

 

[MarylandPizzaman]

Also with resale, Disney can buy your resale out from under you if they want it back. Then you have to start the search all over again.
I think the main question is are you in a hurry to get started, I was and I went directly but its up to you. WIth not having a preference on a home resort you have alot of flexability.
Good luck and let us know what you decided.

 

[TwingleMum]

Thanks ArnyVee its such a big step and so confusing at times. Just when you think you have it all figured out something comes along and makes you all confused.

 

[ArnyVee]

Good point by the PizzaMan.

If Disney excercises their ROFR (Right of First Refusal) then they will buy it back from the seller and sell it at the current rate ($84/point) to someone on their existing customer waiting list.

Then, you have to start the search all over. So, although every once in a while some contract will go through with a low price/point, it's generally the rule that nothing under $70-$71 per point at OKW, VWL, BWV & BCV will go through and nothing under $65/point will go through for HH or VB. But, like I said, anything goes sometimes with Disney. You never know what's going through their minds.

 

[5infam]

TwingleMum,

I felt the resale was a better value as long as it had banked points. If not, then with the additional costs of a resale the deal is not as appealing. With previous years banked points, you can use them for a stay at DVC or exchange them out to II (I believe so anyway). Another thing to possibly consider is taking past year banked points that you would be buying and rent them out. The money you would make could go towards the purchase price, which can easily help bring down the overall price per point.

 

[yasuern]

I have gone through WDW and purchased VWL and through resale and purchased OKW twice - The really ? is what resort do you honestly want to stay in? Personally we LOVE OKW - But as stated above we own at VWL which we like alot - its close to the Magic Kingdom and is just beautifully done!

There are times of the year that DVC units fill up FAST! - like the 1st two weeks in December - So if you really have your heart set on BWV and own at BCV at the 7 month window there may not be availibilty at BWV. So buy where you want to stay the most.

Sue

 

[TwingleMum]

I'm not really sure where I want my "home" to be. I loved yacht club when we stayed there but we also loved CB,Cont,Poly and AKL. We try to stay somewhere different each time.I have 3 boys under 3 yrs old so I think Mk is where will be most .

 

[ArnyVee]

With 3 boys, you will need some space. The OKW rooms are larger in size and also 'cost' the least in points. But, you don't have the advantage of being a boat ride or walkway away from Epcot and Studios as BCV and BWV have.

Make sure that you check out the points values and which seasons you would most likely go to determine what size contract you need.

 

[WebmasterDoc]

Originally posted by TwingleMum
How do I figure whether Disney or a resaler is the way to go? Lets make it simple and pretend I'm buying 200 pts and I'm not locked on a particular home resort. Disney selling BCV would cost me 200 x 84 = 16800.00 A resale at lets say VWL going for 70/pt would be 200 x 70= 14000.00. (no banked /borrowed pts to make it easy Feb use year full points for 04) Since no pts for 03 I shouldn't have to pay for 03 but Would be responsible for 04 tax/maint (which would be same for Disney) My Dh isn't into the MB, he doesn't want to lose a whole year. So it looks like resale would save me $2800.00 How do I calculate in closing costs?? What are they on average. I may pay cash so I'm not considering financing.

Using the same example- with a direct purchase, Disney would give you Feb, 2003 Use Year points for MB- thus lowering the cost to $74 per point. You will still pay prorated maintenance fees for 2003 and will get your points in Feb 2004. In this case, you would lose the points for MB, but would have the same points you suggested in your example.

In reality, you can find resales with banked points or ta least current points and come out with a price better than the direct purchase. With Disney's ROFR at it's current level, there is not too much difference once you add in the closing costs, so make sure you do the math which ever way you decide.

Enjoy!

 

[TwingleMum]

Thanks Doc & Arnyvee - I'm leaning towards BCV. We really enjoyed SAB and that was pre-chidren. I'm sure the boys will love it too. OKW seems great value and having a very large family I could see wanting to do a Grand Villa( can you get one with the 7 mos window during peak times?). If $ was no object I'd buy both.

 

[ArnyVee]

From what I've read on the boards, there are about 30 GV at OKW. And, the likelihood of getting one of those in that 7-month window are not as good depending on the seasons. But, I have yet to stay 'home' as my resale contract has not gone through at this point.

The units at BCV aren't as spacious as OKW and the 'point' values are more at BCV. For instance, a 2BR at OKW during Premier Season (costliest of seasons) is 41 points/night for Sun-Thurs and 100/night on Fri & Sat. In comparison, the BCV 2BR during the same season is 50 points/night for Sun-Thurs and 106 points/night for a Fri & Sat stay.

So, you have to compare to make sure that your points are enough to cover what you need for your family as well.

 

[TwingleMum]

Thanks ArnyVee. Decisions, Decisions.

 

[ArnyVee]

Originally posted by TwingleMum
Thanks ArnyVee. Decisions, Decisions.

That's right, takes a lot of info to finally get what you might think is the right contract for you. In total, it took me 3 months to get the right contract. 1 month of researching and another 2 months of lookin' for the right contract.

Best thing is to make sure that when you finally decide which contract size and whether it's going to be a resale, get on those resellers calling lists and let them know exactly what you want so that you can get the calls before they list those things on the web and they get snapped up.