What happens in the year 2040?

[lochbox1]

Do you think the resorts will get run down later? I know that we are paying alot in fees, but will they really replace carpet with only 2 years left?

Will anyone still want to stay at a resort that is so out of date (I am thinking of some late 60- early 70's properties that even if impeccably maintained....)?

What are your thoughts on this subject?

Also,

Can Disney sell off Vero or get rid of it? We are wondering what could happen to it - worst case scenario? Thanks!

 

[HookdonWDW]

Originally posted by lochbox1
Will anyone still want to stay at a resort that is so out of date (I am thinking of some late 60- early 70's properties that even if impeccably maintained....)?

You mean properties like the Poly and the Contemporary???

In the year 2040, I will celebrate my 74th birthday. In appreciation, Disney will hand the deed to the 5th floor of the BCVs to me. Of course, I will have to wait 2 years to actually receive my property, after the current deeds expire in 2042. I plan to live out the rest of my retirement days there along with select DISBoard friends who did not spend all of their days dissing my favorite resort.

 

[tjkraz]

Nobody really knows...

Some think our dues could go up the max for the last several years as DVC schedules rehabs that effectively return the resorts to pristine condition.

Some think they will bulldoze the resorts and build all new properties.

Some think they may even offer current members the ability to extend their contracts additional years beyond 2042.

With regard to Vero...

Some think it's in the program for good.

Others think that VB and HH would be prime candidates for a sale--particularly if some transfer in ownership of Disney occurs.

I've seen some state that the POS would seem to preclude DVC from ever selling a single resort. But I haven't studied it that closely myself. Besides, rules are made to be broken.

If you like VB and are considering purchasing there, I wouldn't lose too much sleep wondering what may happen. On the other hand, if you're considering a VB purchase with the intention of staying at a WDW resort the majority of the time, you might want to reconsider. While VB resales are often quite a bit cheaper than other properties, it has the highest Maintenance Fees in the program.

Buy where you want to stay.

 

[OneMoreTry]

If they increase the dues in 2040 they can have the contract, THWT, and I'll go somewhere else thank you. Unless they're offering an extension or an outright permanent deed to the property. I think my heirs would feel the same.

I think the classic themes of the properties will endure. And I believe they will keep them up. The only question is whether Disney and the American economy will endure. If they don't, I think the timeshare properties will be the least of our worries.

If I'm still around.

Long live Mickey Mouse!!??

 

[tjkraz]

Originally posted by OneMoreTry
If they increase the dues in 2040 they can have the contract, THWT, and I'll go somewhere else thank you. Unless they're offering an extension or an outright permanent deed to the property. I think my heirs would feel the same.

I doubt it will be quite that simple.

I'm certainly no expert on the timeshare industry as a whole, but I have seen reports here of people who have gotten into other timeshares only to have the maintenance fees rise to exhorbitant levels. In some cases, people would be willing to GIVE away their ownership just to get out from under the maintenance obligations.

As we get closer to 2042, I have to assume that even DVC will be forced to protect itself from people willing to default on their obligations.

Realistically, I doubt DVC would ever be overt in their actions. After all, DVC members could actually vote to remove DVC as the management company. If DVC gave the appearance of trying to stick it to the owners, I suppose we could always vote them out and instead let the resorts go to pot those last few years.

Easier said than done...but it does illustrate the give-and-take that will occur 35 years from now.

 

[OneMoreTry]

Originally posted by tjkraz
I doubt it will be quite that simple.

What would be simpler than not paying the dues and vactioning in Jackson Hole?

 

[tjkraz]

Originally posted by OneMoreTry
What would be simpler than not paying the dues and vactioning in Jackson Hole?

What happens if you don't make your house payment or car payment? The bank doesn't just come and sieze the property and say "oh well, at least we got our stuff back".

Buying into a timeshare represents fiduciary responsibilty--one that you can't simply walk away from if you so choose.

I'm doing this from memory, but the Purchase Agreement states that DVC does have a right to reclaim ownership if you default on payments. However, any court costs, legal fees and transfer of ownership costs are still your responsibility. The same would hold true for any maintenance fees in arrears through the point at which the contract formally reverted back to DVC ownership.

I believe this is detailed in the section labeled "Purchaser's Default", or something similar.

 

[joepoe]

Originally posted by HookdonWDW
You mean properties like the Poly and the Contemporary???

In the year 2040, I will celebrate my 74th birthday. In appreciation, Disney will hand the deed to the 5th floor of the BCVs to me. Of course, I will have to wait 2 years to actually receive my property, after the current deeds expire in 2042. I plan to live out the rest of my retirement days there along with select DISBoard friends who did not spend all of their days dissing my favorite resort.

I think the resorts won't look out of date, because they are themed, and the themesare timeless. I expect updated appliances, sinks, tubs, commodes over the years, and regular paint wallpaper and carpet changes. That is all built in the dues, isn't it?

Also, in 2040, I will be 89, so I hope I can still enjjoy the old places!

 

[Dean]

Originally posted by OneMoreTry
What would be simpler than not paying the dues and vactioning in Jackson Hole?

They could foreclose and it go against your credit but that's about it. Actually most timeshares don't report to the credit companies on foreclosers or SO I'VE BEEN TOLD.

 

[ClarabelleCow]

I just got out of a timeshare, paid 9600 and sold it for 3000! (it still stings) we didn't have to sell, but the maintenance was increasing,plus all the fees. We owned at Vistana, an eveyr other year, loved the place, but realized we liked DVC better, and we only have som much time to take away! I was paying my maintenance which was like 680, so 340 a year, then they hit us with another 99.00 every year for II and their Starwood program , which is great, but for almost 900. it was getting ridiculous, especially if you didn't use the Starwood program and stayed in Orlando, which you can pick up a rental for as low as 299.00 through RCI!! So we figured we'd take the loss now, and not have the frustration of trying to find a way to use it, we could have turned the Starwood into points for airline miles, but of course when we bought it was 1-1, I now found out my 65000.00 points was only worth about 30,000. miles!, so 900.00 bucks for 30000.00 miles? I could by my ticket for less!