Would you buy VGF if you didn't intend to stay there?

[Pootle]

I want to add 50 or 60 points onto a joint contract I own with my adult son. It currently has 100 OKW points which were bought directly from Disney when prices were a lot lower than they are now. (My husband I also own another contract, with points bought in the $60+ region 17 years ago).

When my son and his young family are eventually in a position to pay for themselves to vacation at Disney (we are from the UK and school vacation air fares are very high!), they are unlikely to want to visit any more often than once every 2 or 3 years for 2 weeks in late August.

150 points (3 years x 50) would mean they could spend a week in a studio at GF if they wished, without their 2 young boys needing to share a bed, and a week at OKW in a 1 bedroom (which they love). Now my DS has no enthusiasm for the GF at all - if anything, AKL might suit them more. But AKL is a large resort, and I would have to pay full price for 50 or 60 points there, and at resale they would probably plummet in value.

So I'm thinking that at 7 months, points are points, and they could used them all at OKW if they wanted (or VB another favourite of us all), but, more importantly if they weren't able/didn't want to go, then the VGF points would be very easy to rent out, and, would probably be easy to sell down the road, keeping a higher percentage of their purchase price than, say, AKL.

I know all about resale, but small contracts, with a particular UY are hard to come by, and are quite expensive. I do get the emails from The Timeshare Store just in case.

Is it madness to buy VGF points when there is a good chance they would not get much use for staying there? (I would definitely stay with DH to try it out at least once). Opinions would be very welcome.

 

[DVC Mike]

I wouldn't buy VGF if I didn't plan on staying there.

Why not buy OKW on the resale market?

 

[JWG]

No. Maintenance fees are starting high ($5.41) and it's a small resort, so few people to spread the cost across.

Plus, if you like OKW, you can buy there for $130 per point direct.
Or, any "old" WDW resort except BLT.

 

[amypetecar]

I get your logic of wanting to maintain resale value, and ease of renting.

That said, you could buy almost 3X as many points at SSR or OKW (just over $50 per point vs. $145 per point)

While OKW resale won't be as much down the road, you are only paying 1/3 the price of the Grand Floridian

If you decide to resell, I bet you would recoup a greater percentage of your upfront principle cost on the OKW resale than the VGF.

i.e - buy OKW resale for $60-$65 per point..... you could probably resell somewhere in the $50's at least..... regaining 80% of your principle cost.

If you use BLT as a model for VGF..... you would pay $145 per point (roughly the same as BLT direct) and would resell for around $90-$95 per point (going rate for BLT resales)...... regaining only 65% of your principle cost.

My advice: Buy Resale where you WANT to stay!

 

[Pootle]

Thank you so much to those who have taken the time to respond. I've mulled this around for a few weeks now and it actually helped putting it down in words and reading others' responses.

I get your logic of wanting to maintain resale value, and ease of renting.

That said, you could buy almost 3X as many points at SSR or OKW (just over $50 per point vs. $145 per point)

......

My advice: Buy Resale where you WANT to stay!

You got my 'wordy' issue and put it very well in your first sentence

I think the advice given would have been excellent a year ago, but unless I'm missing something, those resale contracts that were real bargains are no more! For instance, a Timeshare store email has arrived today and the only 2 OKW contracts are stripped; one is for 230 points at $70 and the other is 270 at $68. Neither are my UY and I only want a small contract, which should it appear, is likely to be a lot more expensive.

Of course, in a year's time, the position could be different again - who knows? Meanwhile, we need extra points now. I had a BLT points transfer from a UK DVC member for a good price recently (and yes, they will be used at OKW ) and that just reinforced in my mind that I should do another add-on to ease our situation. A first-world problem or what!

Still thinking ..... but thanks again each of you.

 

[KAT4DISNEY]

Small resales do come along and could still save you a couple of thousand dollars.

But if the point is to get points right now so direct is the decision I still wouldn't buy at VGF if there is virtually no intention to stay there. MF's are similar or lower at other resorts and that includes the one you already have the contract at. I'd consider adding on 50 pts at OKW for $130/pt. You'll get the later expiration, lower dues and have all the points at one resort with lower point requirements for the rooms.

And there doesn't seem to be a lack of demand for renting points from any resort if that becomes necessary.

(Just received an email of a 60 pt OKW for sale that has current points for $90/pt. If that applied to a 50 pt it would be a $2750 savings over buying VGF direct Or getting 10 more points and still paying $1850 less than VGF).

 

[Pootle]

Small resales do come along and could still save you a couple of thousand dollars.

But if the point is to get points right now so direct is the decision I still wouldn't buy at VGF if there is virtually no intention to stay there. MF's are similar or lower at other resorts and that includes the one you already have the contract at. I'd consider adding on 50 pts at OKW for $130/pt. You'll get the later expiration, lower dues and have all the points at one resort with lower point requirements for the rooms.

And there doesn't seem to be a lack of demand for renting points from any resort if that becomes necessary.

(Just received an email of a 60 pt OKW for sale that has current points for $90/pt. If that applied to a 50 pt it would be a $2750 savings over buying VGF direct Or getting 10 more points and still paying $1850 less than VGF).

Interesting, and it does make perfect sense. I think I just have a mental block about paying $130 a point for something I've always bought 'cheaply' (in retrospect of course ) previously. It may still be the way I will go. Or maybe BCV if buying directly for the same price of $130 ...... still thinking it might retain a higher percentage of its value if they wanted to sell 5 years down the line, and I'm pretty sure DS and DDIL would stay there with the boys if for no other reason than SAB.

Thanks for your views. It's really helped me focus.

 

[luckyman_apd]

Absolutely not. Buy where you want to stay....or if you don't care where you stay, buy SSR as its cheaper up front and one the MF.

I hear you when you say you want more points right away, but you will be throwing money away now and later if you buy VGF and don't intend to ever stay there. My advice is call the resale places ( timeshare store, and the other that I can't name) and tell them how many points you want. When I was looking, the nameless place called me directly when a contract came around that I wanted.

While they sell for the seller, and small contracts usually go fast, if they know you are really interested they will call you. They want the highest price for their commission so it only makes sense to call you to get your offer.

 

[AmyB2006]

No I wouldn't buy there if I didn't want to stay there.

 

[Sur]

I can see where it would be difficult to purchase a small contract, living in the UK. They list and GO.... with the time difference, your chances of obtaining one are even slimmer.

I see the value of a small contract, too, for a "combine points for an every three year trip" This method keeps the annual dues lower, since traveling yearly is not possible (due to airfare prices).

I WOULD buy, given your situation and variables. I WOULDN'T use those points elsewhere if not used at VGF, rather rent them with the 11 month advantage. VGF has 22 more years than several other resorts.... will be the cost effective choice when those contracts expire, villas are rebuilt, and points resold (I think!)

 

[Pootle]

A new day here in the UK whilst you in the USA still sleep .... and more views to consider. Thanks.

I had already contacted the Timeshare Store already to put my name down for a resale.

If I were going for good value, I would go for OKW and not SSR, and yes I know about the dues and the extended contract (although the contract I share with my son at OKW, bought direct, is an extended date one).

Something sticks in my mind you see. One year I was in the hot tub at OKW and was talking to 2 couples who were friends, owned at BCV (it's what they were selling when they bought) but always stayed at OKW, which of course is relatively easy to book at 7 months. Now the point is, had they wanted to sell years down the line, they would have recouped a higher percentage of what they paid simply by buying at a smaller, in-demand, resort. Of course, they would have also paid higher dues too.

These points are not for me - I would always choose OKW. Ultimately they are a gift for my DS and family, whose affection for WDW, despite having been more than 20 times between the ages of 8 and 18, is minimal and, I suspect, will disappear totally when his boys are older. Currently they are 2 and 3

I want to make it easy for them to sell should they choose, and get a reasonable return - and I know there are no guarantees here whatever I buy. And yes, having the points now would be good, but that is not the over-riding factor. I could wait, and will do so as I have definitely decided NOT to purchase at VGF.

So thanks everyone, I have answered my own question, and as I indicated before, it has been really useful having others 'in the know' to discuss it with. DH doesn't care how many I buy, or where - guess I'm pretty lucky in that respect

 

[Pootle]

I can see where it would be difficult to purchase a small contract, living in the UK. They list and GO.... with the time difference, your chances of obtaining one are even slimmer.

I see the value of a small contract, too, for a "combine points for an every three year trip" This method keeps the annual dues lower, since traveling yearly is not possible (due to airfare prices).

I WOULD buy, given your situation and variables. I WOULDN'T use those points elsewhere if not used at VGF, rather rent them with the 11 month advantage. VGF has 22 more years than several other resorts.... will be the cost effective choice when those contracts expire, villas are rebuilt, and points resold (I think!)

Very useful contribution to me. I too still think that VGF would be the most cost-effective choice, even though I've decided against it (I think!) .... but I'm not sure about your last point, and I certainly won't be around to know for sure

 

[luckyman_apd]

The timeshare store is not the only place that resells, so I would google them all, and get your name in ALL of them. When we purchased, certainly the timeshare store had the most contracts listed, but we were looking for a specific UY and a smaller amount of points (100). I got a call from one of them with a 125 point contract with our UY came along. We bought the extra 25 with this one as our UY was not the most common. SOOO glad I got the extra 25 as we have started going more than originally planned.

Anyway, just get in with all of them as it will up your chances of getting what you want. I disagree that VGF would be the most cost effective for you, but it doesn't appear that it is high on your priority list.

 

[Pootle]

The timeshare store is not the only place that resells, so I would google them all, and get your name in ALL of them. When we purchased, certainly the timeshare store had the most contracts listed, but we were looking for a specific UY and a smaller amount of points (100). I got a call from one of them with a 125 point contract with our UY came along. We bought the extra 25 with this one as our UY was not the most common. SOOO glad I got the extra 25 as we have started going more than originally planned.

Anyway, just get in with all of them as it will up your chances of getting what you want. I disagree that VGF would be the most cost effective for you, but it doesn't appear that it is high on your priority list.

Yes, I will do that - thanks for the reminder, I've seen good comments about the Timeshare store and negatives about one other in particular, but I will look to see who else is out there.

As far as VGF being the most cost effective, well you may be right, it might not have been, but only time will tell. One thing I do believe is that it would be better than paying $130 for a small contract at OKW direct! Paying $90 for a small resale at OKW doesn't appeal too much either - purely from a 'best value for money' angle of course, as I love the resort.

I'd be very rich if I had a $ for every time I've read the 'buy where you want to stay' or the more recent updated version: 'buy where you wouldn't be disappointed to stay' mantras - and I still think that these words of wisdom are better directed at those who buy in at the 'cheaper'/larger resorts with the intention of often staying elsewhere.

But again luckyman, thanks for engaging in the wrangle I'm having with myself and I'm pleased that your extra 25 points worked out well for you . I am aiming to go down the resale route now, but at BCV

 

[Pirate Granny]

We have four contracts...all December UY...bought OKW to have family trips in a GV every three years...although I could stay there every year for the balconies and quiet. Bought two BCV for SAB and EPCOT at flower and garden and food and wine, first 100 points in our UY, and then realized needed 107 for a studio...on to the hunt for a low number contract...a year later found 64 point! Nabbed that one . Finally after taking hubby to VWL last Christmas, he agreed points there to get 11 month reservations at Christmas was a good idea...so although we only wanted 100, we found 150, and grabbed that and it just closed. We are done now...or so we think we have three adult daughters and when we are gone, they will each have a contract (can fight it out--all three are named on all four deeds anyway). We do spend either the first night or last night of each trip at BLT...hummmmm

 

[Pootle]

We do spend either the first night or last night of each trip at BLT...hummmmm

LOL, resist, resist . Not tried a GV at OKW but are hoping for a Beach house at VB next year (but only have enough points there for 2 nights even with borrowing, so will be praying at the 7-month window )

I think I should have added on/bought resale a year ago when there was more availability. Demand really seems to have hotted up now. Maybe next year .......

 

[dianeschlicht]

I wouldn't buy VGF if I didn't plan on staying there.

Why not buy OKW on the resale market?

Totally agree with Mike.