Why is everyone so concerned with the new Poly tower

[Tech4444]

I have a offer in on PVB and am in ROFR right now. Why is everyone so concerned with the new Poly tower and saying they would wait to find out if its part of old or new. Seems to me like being part of old is just a bonus and if it is new then its no different then a new DVC resort being build. Opinions?

 

[Marionnette]

I have a offer in on PVB and am in ROFR right now. Why is everyone so concerned with the new Poly tower and saying they would wait to find out if its part of old or new. Seems to me like being part of old is just a bonus and if it is new then its no different then a new DVC resort being build. Opinions?

PVB as it is has only studios and the bungalows. Some prefer the option to book larger villas, which PVB does not offer as a home resort.

If you're okay with only staying in studios, it shouldn't matter. But since you're a resale purchaser you need to be aware that your points are no good at RIV and will not be any good at Poly2 if it is a different association.

For that reason, a lot of people are taking a wait and see attitude.

 

[wilkydelts]

Many people also believe the resale price will drop substantially for current Poly DVC if the new tower is a different association or if the incentives are low enough for Poly2, so they also view waiting as a price saving measure.

 

[Tech4444]

Yeah we are used to staying at art so a studio at Poly will be a dream haha. I am aware of all the restrictions, I have family that has Riv so point swapping is an option for us. Thanks for the input

 

[Tech4444]

As far as cost goes how does the addition of a second tower lower the value of a separate resort?

 

[Sandisw]

I think the other aspect is the resale restrictions and having PVB points shut out completely.

They could make it a new resort but if restrictions were dropped, then PVB points resale might be eligible for booking at 7 months.

So, lots of unknowns. And, direct does give you access to membership perks whatever they may be so it could benefit to wait and get more info.

 

[Marionnette]

As far as cost goes how does the addition of a second tower lower the value of a separate resort?

The new tower would have more options from studios to grand villas.

It will have been built as a DVC resort and will not be converted hotel rooms.

It will have a longer contract life.

When it goes on sale, the price per point with incentives could be low enough to drive PVB resale prices down. If you had the choice of buying at a brand new shiny resort, with no resale restrictions, a longer contract life, and on the same property - where would you spend your money? The delta between resale at PVB and direct at Poly2 would have to be significant.

 

[hglenn]

As far as cost goes how does the addition of a second tower lower the value of a separate resort?

The theory is that nobody will want to buy at Poly 1 bc of the studio-only option (I know they have the bungalows but most don't opt for them and they just skew the point ratio in the club), thus devaluing Poly 1 as compared to Poly 2 with more room type options.

 

[sndral]

As far as cost goes how does the addition of a second tower lower the value of a separate resort?

Poly1 = studios & bungalows, Poly2 = studios, 1 br., 2 br., & 3 br.. Buy Poly1 & if Poly2 is a new resort you’ll never be able to upgrade to a larger villa in the Poly tower next door w/ those points. If Poly2 is a new association it’ll have 50 years on the contract v. Poly 1 w/ 42 years.
W/ VGF1 resale prices were high, DVC came out w/ lower than many expected prices for direct VGF2 which exerted downward pressure on resale VGF1 prices. I wanted to add on at VGF, but decided to wait to see the direct price of VGF2 & confirm it was the same association & am really glad I waited, I paid less than I expected for direct points v. the hassle of resale waiting for the right size contract that matched my use year, etc..

 

[Tech4444]

Ok to summarize everyone's points against buying Poly1 one now are:

-Wait for the better room selection (I completely agree with that if that is a concern for your family)
-Poly2 will drive down the price of Poly1 (That is a possibility if Poly2 becomes its own association, but if it is added to the old it could drive up the price a little)
-Wait so you can get Membership benefits (This is the argument against buying all DVC resale, so if resale makes sense for you now it will make sense once Poly2 launches)
-"Booking Restrictions" (Once again this is one of the arguments against buying resale for all resorts)

So to me it seems like the two main issues are room selection and possible price drop. If you love Poly1 and the rooms, great. If you dont mind playing a stock market type game with the what ifs and pricing, great.

Sound about right?

PS... waiting on ROFR is a pain haha

 

[hglenn]

PS... waiting on ROFR is a pain haha

Something we can all agree on!

 

[Matty B13]

Also, Poly 1 studios most times of the year can be booked at 7 months and with the addition of the VGF 2.0 studios to the mix, there won't be a shortage of studios on the monorail loop. So people with SAP (Sleep Around Points) points mainly SSR points will make Poly and VGF points less valuable.

 

[Marionnette]

Ok to summarize everyone's points against buying Poly1 one now are:

-Wait for the better room selection (I completely agree with that if that is a concern for your family)
-Poly2 will drive down the price of Poly1 (That is a possibility if Poly2 becomes its own association, but if it is added to the old it could drive up the price a little)
-Wait so you can get Membership benefits (This is the argument against buying all DVC resale, so if resale makes sense for you now it will make sense once Poly2 launches)
-"Booking Restrictions" (Once again this is one of the arguments against buying resale for all resorts)

So to me it seems like the two main issues are room selection and possible price drop. If you love Poly1 and the rooms, great. If you dont mind playing a stock market type game with the what ifs and pricing, great.

Sound about right?

PS... waiting on ROFR is a pain haha

If Poly2 is added to PVB to be one association, you will almost certainly see the resale price of PVB go down. DVC will not exercise ROFR on a resort that is in active sales. ROFR tends to set the floor for resale prices. Without ROFR, buyers who don't care about resale restrictions will be more likely to make lowball offers. This is what happened with VGF1 resales.

 

[AvidDisReader]

Ok to summarize everyone's points against buying Poly1 one now are:

-Wait for the better room selection (I completely agree with that if that is a concern for your family)
-Poly2 will drive down the price of Poly1 (That is a possibility if Poly2 becomes its own association, but if it is added to the old it could drive up the price a little)
-Wait so you can get Membership benefits (This is the argument against buying all DVC resale, so if resale makes sense for you now it will make sense once Poly2 launches)
-"Booking Restrictions" (Once again this is one of the arguments against buying resale for all resorts)

So to me it seems like the two main issues are room selection and possible price drop. If you love Poly1 and the rooms, great. If you dont mind playing a stock market type game with the what ifs and pricing, great.

Sound about right?

PS... waiting on ROFR is a pain haha

It should be mentioned that if you buy resale now, you will have around 3 years use of those points before the new Poly is open,

 

[Tech4444]

If Poly2 is added to PVB to be one association, you will almost certainly see the resale price of PVB go down. DVC will not exercise ROFR on a resort that is in active sales. ROFR tends to set the floor for resale prices. Without ROFR, buyers who don't care about resale restrictions will be more likely to make lowball offers. This is what happened with VGF1 resales.

Maybe your opinion is an indication that it will be one association, because they are not buying back right now as we speak.

I guess it really comes down to the old saying "Value is in the eye of the beholder". In my opinion if I buy Poly1 now and they add a new tower in my association that I can book at, I will like my resort even more.

Grand Floridian's price has stayed pretty consistent through all the changes that are happening there.

 

[Tech4444]

It should be mentioned that if you buy resale now, you will have around 3 years use of those points before the new Poly is open,

That's are good thing right? Seems like everyone is on the other side of the aisle from me so I just wanted to make sure haha

 

[RoseGold]

As far as cost goes how does the addition of a second tower lower the value of a separate resort?

VGF2 priced lower than most people expected. It did impact resale value of VGF1 points, which used to be higher than the direct cost.

If Poly2 comes in cheap, it could make your Poly1 points worth less. It happened to people on this board, who are now waiting to sell their VGF1 a couple years.

 

[CarolMN]

That's are good thing right? Seems like everyone is on the other side of the aisle from me so I just wanted to make sure haha

It's definitely a plus, IMO! To me, it doesn't make sense to delay (if you can afford the purchase and know the Poly is where you want to stay most of the time), based on speculation. No one here knows what the Poly2 will bring, or even if it will be. My advice is to decide on what you know now, not what others THINK might be. YMMV.

 

[Marionnette]

That's are good thing right? Seems like everyone is on the other side of the aisle from me so I just wanted to make sure haha

You asked:
"Why is everyone so concerned with the new Poly tower and saying they would wait to find out if its part of old or new."

If you had asked "What are the advantages of buying PVB resale now instead of waiting for Poly2?" The answers would have been different.

 

[kilik64]

It will have a longer contract life.

If new association, sure, but if not it'll be the same as PVB1. I think even if a new one they will go with the same end date as pvb1 as well.

UNLESS, just thought of this, they plan to give back the DVC buildings to the regular hotel when it expires. LONG time away still, but could be a possibility. PVB1 ceases to exist at contract end of life and those 3 buildings are given back to the hotel and the tower is now the only DVC units for poly.