VGF1 resale now or wait for VGF2?

[Sandisw]

Any idea what are direct closing costs?

Pretty close to resale. We paid just over $600 for RIV in 2019.

 

[Sandisw]

So, if I'm understanding you correctly about prorated MFs, the best time (strictly in terms of cost) to buy add-on direct if I have a SEP UY would be in August (assuming I'm in no hurry to use the points for a hard-to-get reservation or other extenuating circumstances).

That way, we would get all current UY points and then one month later get the next UY's points, but we wouldn't have to pay MFs for Jan-July of the current calendar year?

Of course, this also assumes that prices don't go up between now and August, which could wipe out the potential MF savings of waiting until the latest date to buy and still get the current UY points.

And, to be honest, I'm mostly just curious about this. I almost certainly won't be adding on again this year anyway. 1-2 years from now... we'll see. And maybe the landscape is entirely different then and we stick with another resale add-on.

That is correct. Now the one aspect is that if you want a resort considered sold out, they may not have your UY in stock with current points.

But, for resorts in active sales, like RIV and soon to be VGF, it’s the case.

As you said, you do have to monitor incentives and such but if adding on a small amount, most likely not going to have them anyway.

 

[Nabas]

Pretty close to resale. We paid just over $600 for RIV in 2019.

Maintenance Fees are separate?

 

[4luv2cdisney]

So, if I'm understanding you correctly about prorated MFs, the best time (strictly in terms of cost) to buy add-on direct if I have a SEP UY would be in August (assuming I'm in no hurry to use the points for a hard-to-get reservation or other extenuating circumstances).

That way, we would get all current UY points and then one month later get the next UY's points, but we wouldn't have to pay MFs for Jan-July of the current calendar year?

Of course, this also assumes that prices don't go up between now and August, which could wipe out the potential MF savings of waiting until the latest date to buy and still get the current UY points.

And, to be honest, I'm mostly just curious about this. I almost certainly won't be adding on again this year anyway. 1-2 years from now... we'll see. And maybe the landscape is entirely different then and we stick with another resale add-on.

You do run the risk of points not being available if it is a sold out resort.

 

[4luv2cdisney]

Any idea what are direct closing costs?

Really depends on how many points / the cost of purchase.

They charge a flat $200 for something which they never used to.

When I bought in 2017 my closing costs consisted of title insurance ($60), Recording fee (18.50) and City/County Tax/Stamps ($69.30) for a total of $147.80.

Expect to add $200 to that now.

I am purchasing SSR tomorrow. I believe I was quoted $300 but I'm only buying 30 points.

 

[Nabas]

Really depends on how many points / the cost of purchase.

They charge a flat $200 for something which they never used to.

When I bought in 2017 my closing costs consisted of title insurance ($60), Recording fee (18.50) and City/County Tax/Stamps ($69.30) for a total of $147.80.

Expect to add $200 to that now.

I am purchasing SSR tomorrow. I believe I was quoted $300 but I'm only buying 30 points.

Thanks. We are DVC members at a couple of resorts but are thinking about adding 100 points at VGF so we can book 5-night May or December VGF Studio trips.

At the moment, resale prices for 100-point contracts are close to what I think we are going to pay to buy VGF2 direct. I'm trying to get a sense whether there is any closing cost differences between direct and resale.

At this time, I really cannot justify paying $200pp resale for a contract that does not have 2020 points, might not have any 2021 points, and has closing costs that are higher than direct.

For many smaller VGF resale contracts, prices now are over $200 per point.

The only reason I see paying today's VGF resale prices is if you currently are not an existing DVC member and want to buy less than 150 points.

Otherwise, just wait until VGF2 is offered.

 

[JETSDAD]

I have heard that Disney also can make your first DVC reservation for you, having access to points that have not yet been released to other DVC members.

In our case, we would like our first VGF2 stay to be in December 2022. As I understand it, Disney will be able book this for us. Is this right?

That's only for new members....if you are already a member then you don't get the welcome home trip where they can potentially pull cash inventory to assist in a reservation.

 

[4luv2cdisney]

Thanks. We are DVC members at a couple of resorts but are thinking about adding 100 points at VGF so we can book 5-night May or December VGF Studio trips.

At the moment, resale prices for 100-point contracts are close to what I think we are going to pay to buy VGF2 direct. I'm trying to get a sense whether there is any closing cost differences between direct and resale.

At this time, I really cannot justify paying $200pp resale for a contract that does not have 2020 points, might not have any 2021 points, and has closing costs that are higher than direct.

For many smaller VGF resale contracts, prices now are over $200 per point.

The only reason I see paying today's VGF resale prices is if you currently are not an existing DVC member and want to buy less than 150 points.

Otherwise, just wait until VGF2 is offered.

I'll try to remember to update with my closing costs when I get the settlement statement.

I only look at small contracts and closing costs are nearly double via resale for what I've seen for myself. Combined with the smaller gap in price difference and the 2% I earn back from my Visa, and I always end up letting the resale contracts pass.

It seems the title insurance is a small amount. Gov't fees are what they are - actual costs.

 

[Sandisw]

Maintenance Fees are separate?

Yes. Those are the annual dues so whatever resort you buy, it’s prorated for that.

So, if the fees for RIV are $8.39, and you buy 100 points, that is $839 for the year. If you buy with only 2 months left in 2021, you would only pay $166.

Closing costs are the costs to just buy the contract. Years ago, DVD charged very little for that and then it changed and the fees are now pretty close to what it is buying resale.

 

[Oscar923]

Pretty close to resale. We paid just over $600 for RIV in 2019.

I just added 250 RIV points last month direct, and the closing cost was $909.83

 

[kandlsutton]

So I pulled the trigger this morning on a small 55 pt VGF contract priced at $175pp. I just don’t see direct prices for VGF2 dropping too much and do not expect many incentives until you reach 150 point Level.
Plan is to bank 1 year and use the points every other fall for 2-3 nights with split stay using other contracts. Ideally, would coincide with MK after hour parties (Boo Bash, MNSSHP, MVMCP, etc.).

 

[Jelly563]

Disney squeezes the lemon better than anyone. I can't believe how many people think that Disney is going to make their flagship resort super affordable.... They are going beat you over the head for your money and VGF2 is going to set a new record for cost per point. That's what they have always done and that's what they are going to continue to do

 

[Nabas]

Disney squeezes the lemon better than anyone. I can't believe how many people think that Disney is going to make their flagship resort super affordable.... They are going beat you over the head for your money and VGF2 is going to set a new record for cost per point. That's what they have always done and that's what they are going to continue to do

If VGF opens to existing DVC members at $220-$235, that's hardly super affordable. $220-$235 would be a record price for an active DVC property.

As I recall, most guesses were somewhere in this range to start.

Remember, DVD has a history of starting at a pre-opening price to get the ball rolling followed by rapid increases.

 

[KTownRaider]

So I pulled the trigger this morning on a small 55 pt VGF contract priced at $175pp. I just don’t see direct prices for VGF2 dropping too much and do not expect many incentives until you reach 150 point Level.

I was eyeing that contract as it was my UY, but I've been trying my best to control my addonitis (I have 3 contracts this year and another VGF midway through the resale process). I don't see Disney taking any VGF resale via ROFR for the foreseeable future, and that is an excellent deal on a small contract given the current crazy market. Even if VGF2 pricing comes in on the lower end of what some people are speculating on these threads, you'll should still have a pretty nice spread...Nice grab.

 

[Paul Stupin]

Disney squeezes the lemon better than anyone. I can't believe how many people think that Disney is going to make their flagship resort super affordable.... They are going beat you over the head for your money and VGF2 is going to set a new record for cost per point. That's what they have always done and that's what they are going to continue to do

I originally thought the same thing...namely, that the initial price per point would be on the high side. But I've changed my mind. Since the new bldg is all studios, accommodations preferred by buyers looking to maximize value, Disney is not going to want to alienate them with a record setting price per point. Also, it looks like they're doing this conversion kind of on the cheap, so they don't have a huge initial investment to recoup.

I'm thinking the cost might initially be in the $225 range, with incentives that can potentially get you down to a Riviera-esque $201.

 

[DVCsloth]

Hoping that VGF2 doesn't make the 1br harder to get! . Hope that Disney has a few surprises for us. I like the location of the current villas, its a nice walk to Polynesian and TTC for Epcot. I like the covered walkway to the main building. Even when the hotel is super busy, the villas are usually quiet and laid back. Not excited about Studios only though.

 

[SarahWI]

Hoping that VGF2 doesn't make the 1br harder to get! I like the location of the current villas, its a nice walk to Polynesian and TTC for Epcot. Not excited about Studios only though.

We are hoping people will buy just enough to get studios and leave the 1 br availability unchanged or even improved due to increased studio availability.

random thought or question: will vgf1 and vgf2 be considered separate resorts or points? And therefore siloed off from one another?

 

[JETSDAD]

random thought or question: will vgf1 and vgf2 be considered separate resorts or points? And therefore siloed off from one another?

According to the announcement it will be a part of the same condo association so no, they wouldn't be separate.

 

[DVCsloth]

I do think it is a little unfair to add all those as studios. I like the idea of having the option to stay in Big Pine Key, but they are changing the ratio of rooms to when we first bought in. The 1BR were usually available during busy DVC times and lately the studios are being walked in December. It may allow studios to be available where they are usually gone in 1 minute or not even available unless you walk.

 

[davidl81]

I do think it is a little unfair to add all those as studios. I like the idea of having the option to stay in Big Pine Key, but they are changing the ratio of rooms to when we first bought in. The 1BR were usually available during busy DVC times and lately the studios are being walked in December. It may allow studios to be available where they are usually gone in 1 minute or not even available unless you walk.

Clearly it will have a positive impact on studio availability, but to an extent hurt 1BR availability. I will say (as someone who is a fan of 1BR) that the biggest reason we have never stayed at VGF is the high point requirement for those 1BR. Often times at 7 months we basically have to decide between a 1BR at BWV, spending 100 points more to get a 1BR at VGF, or just get a VGF studio. My point being that hopefully for you the vast majority of these new buyers are buying points for studio use and the jump in points needed for a 1BR keep them away from those rooms.