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More Disney Vacation Club Restrictions
Posted on 1/7/19 at 10:14 am
Posted on 1/7/19 at 10:14 am
Disney doing everything they can to try to slow down the resale market for DVC
It's been interesting to watch Disney, over the years, put restrictions on resale owners that somewhat diminish the price the selling owners can get.
quote:
Effective January 19, 2019, only members who purchase directly from Disney will be able to use their vacation points at the 14 existing Disney Vacation Club Resorts or future Resorts — such as Disney’s Riviera Resort or Reflections – A Disney Lakeside Lodge. Resale contracts purchased for the existing 14 Disney Vacation Club Resorts will only be able to exchange points into those 14 Resorts.
quote:
Once sales for the Riviera Resort begin, those who purchase a contract for that resort on the resale market will be limited to staying only at that resort. That means anybody who purchases a resale contract with the Riviera as their home resort would not be able to use their points to stay at any of the existing Disney Vacation Club resorts or, presumably, at any future resorts.
It's been interesting to watch Disney, over the years, put restrictions on resale owners that somewhat diminish the price the selling owners can get.
Posted on 1/7/19 at 10:26 am to LSUFanHouston
It's price fixing plain and simple. Because they want the price to go down so they can use ROFR to then sell them at full price which is only going up. It's disgusting tbh.
We originally bought in in 2013 when the market was way down and the benefits weren't removed yet. So we are good even if we want to expand. But I doubt it. We bought again in 2015 and with just a family of 3, we should be good with 250 points going once a year or every 2 years.
Sucks for new buyers though. But As the contracts get closer and closer to running out (OKW is first in 2042), I'm curious what it will do to prices. Originally, many thought it would bring the price down, but it turns out lots of people see the appeal of a shorter contract without such a long commitment which has held the older resorts steady if not a big increase.
Of course, when you buy, you should NEVER do it with concern for reselling. If that's in your head, you're doing it for the wrong reasons. But it's still a good feeling that if an emergency ever arose that we could unload our points for a small "profit".
We originally bought in in 2013 when the market was way down and the benefits weren't removed yet. So we are good even if we want to expand. But I doubt it. We bought again in 2015 and with just a family of 3, we should be good with 250 points going once a year or every 2 years.
Sucks for new buyers though. But As the contracts get closer and closer to running out (OKW is first in 2042), I'm curious what it will do to prices. Originally, many thought it would bring the price down, but it turns out lots of people see the appeal of a shorter contract without such a long commitment which has held the older resorts steady if not a big increase.
Of course, when you buy, you should NEVER do it with concern for reselling. If that's in your head, you're doing it for the wrong reasons. But it's still a good feeling that if an emergency ever arose that we could unload our points for a small "profit".
Posted on 1/7/19 at 10:46 am to ell_13
I'm curious if they try to do another extension either at OKW or the other resorts expiring in 2042.
I'm also curious what's going to happen to dues as you get closer to 2042 at those resorts. It would be kind of crappy for DVC to charge for reserves, etc, in the last couple of years, as owners would not get the benefit of improvements and refurbs that extend the life of the property past 2042.
I'm also curious what's going to happen to dues as you get closer to 2042 at those resorts. It would be kind of crappy for DVC to charge for reserves, etc, in the last couple of years, as owners would not get the benefit of improvements and refurbs that extend the life of the property past 2042.
Posted on 1/7/19 at 11:17 am to LSUFanHouston
The first extension was a huge failure. Hardly anyone took the bait. No one really knows what the plan is or even if one exists. Still over 20 years before it happens.
And that's a good point about the reserves. My dad who has owned OKC since 1994 will be pissed if his dues get OOC the closer to expiration.
And that's a good point about the reserves. My dad who has owned OKC since 1994 will be pissed if his dues get OOC the closer to expiration.
Posted on 1/7/19 at 11:34 am to LSUFanHouston
We go to wdw a lot and I can’t imagine a senario ever buying into dvc.
Posted on 1/7/19 at 11:43 am to Cash
quote:It's meant to be a luxury purchase. Not something you need. I've gotten used to being in a condo with washer/dryer (especially when doing the races) and kitchen within walking distance to a park. I've also used my points for Hawaii and plan to use them for Hilton Head. If I need cash, I can always rent them out to come out ahead about $2k/year to pay for a different vacation.
I can’t imagine a senario ever buying into dvc.
Posted on 1/7/19 at 1:07 pm to Cash
quote:
We go to wdw a lot and I can’t imagine a senario ever buying into dvc
Then it may not be for you but for the prices you pay if you stay moderate or especially deluxe, and you go atleast everything other year and will for the foreseeable future it basically pays for itself.
Posted on 1/7/19 at 1:31 pm to TigerDat
I know people who do well by renting points and getting the DVC-type stays without making that big up front payment and avoiding dues. It's a solid plan. And most are passholders so they still have access to many of the discounts and benefits a DVCer would have.
Posted on 1/7/19 at 2:05 pm to ell_13
quote:
know people who do well by renting points and getting the DVC-type stays without making that big up front payment and avoiding dues. It's a solid plan. And most are passholders so they still have access to many of the discounts and benefits a DVCer would have
True, renting is a great way to go too.
Posted on 1/7/19 at 2:14 pm to ell_13
quote:
I know people who do well by renting points and getting the DVC-type stays without making that big up front payment and avoiding dues. It's a solid plan. And most are passholders so they still have access to many of the discounts and benefits a DVCer would have.
This is what we have done for the past 9 years.
We always stay in a deluxe resort and have only rented direct from Disney one time. We go every 12-18 months and after running the numbers, there is not much benefit, at least for us, to buy into DVC.
My kids get Florida resident annual passes thanks to their grandparents living in Florida, so we get all the discounts thanks to their passes.
This post was edited on 1/7/19 at 2:17 pm
Posted on 1/7/19 at 3:57 pm to LSUFanHouston
I've been researching DVC the last month or so and was leaning towards buying resale in the coming months.
I'm not sure if this news makes me want to hurry up and put an offer in, or wait, or just decide to go another direction altogether.
I'm not sure if this news makes me want to hurry up and put an offer in, or wait, or just decide to go another direction altogether.
Posted on 1/8/19 at 3:09 am to SLafourche07
This news shouldn’t affect prices of the current resorts much if at all. But the new Riviera resort owners are fricked if they ever have to or just want to sell. The only people they’d be able to sell to are buyers who only want to ever stay at Riviera for the remainder of the 50-year contract. This is who it really hurts.
Posted on 1/8/19 at 6:33 am to ell_13
quote:
The only people they’d be able to sell to are buyers who only want to ever stay at Riviera for the remainder of the 50-year contract. This is who it really hurts
Yeah. Riviera resale will be crap which will allow Disney to ROFR at crazy low prices and resale direct at full price.
Posted on 1/8/19 at 10:55 am to Cash
quote:
Cash
Your cranky arse goes to Disney?
Posted on 1/8/19 at 12:43 pm to TigerDat
I just got 8 nights in a studio at the Poly at $9/point for 196 points in July ($1796).
I’ve been standing on top the renting point mountain for a few years and I don’t think this will last forever but I’m liking as much as I can right now.
I’ve been standing on top the renting point mountain for a few years and I don’t think this will last forever but I’m liking as much as I can right now.
Posted on 1/8/19 at 12:56 pm to LSUfan4444
quote:
I don’t think this will last forever but I’m liking as much as I can right now.
I said the same thing when I first discovered renting points. Nine years later I'm still renting albeit at a slightly higher cost, but still cheaper than directly through Disney.
We always book 10-11 months out and we always get the resort we ant, including the elusive Beach Club.
This post was edited on 1/8/19 at 12:57 pm
Posted on 1/8/19 at 1:44 pm to SmackDaniels
quote:
Your cranky arse goes to Disney?
I’m an onion, many layers.
Posted on 1/8/19 at 2:40 pm to ell_13
quote:
This news shouldn’t affect prices of the current resorts much if at all.
Well in a couple of weeks, future resales at the current resorts will be unable to have their points used at the new resorts stating with Riviera. Not sure how much that reduces value, but it surely doesn't add to it.
Posted on 1/8/19 at 2:48 pm to LSUFanHouston
quote:If you have access to the 14 already, Riviera isn't exactly something a "new" owner will want or feel like they have to have access to. It's not exactly in a prime location. I doubt I'll ever stay there because the point requirements will be outrageous. The resale market will still be strong simply because it doesn't have any competition for a "value" dvc purchase. As Disney direct prices skyrocket (both for new and old resorts), the resale prices of the original 14 will follow regardless, even if new buyers "only" get the choice of 14.
future resales at the current resorts will be unable to have their points used at the new resorts stating with Riviera. Not sure how much that reduces value, but it surely doesn't add to it.
This post was edited on 1/8/19 at 2:49 pm
Posted on 1/8/19 at 3:04 pm to Cash
quote:
We go to wdw a lot and I can’t imagine a senario ever buying into dvc.
IF:
1) You visit once a year, or once every other year but on long trips
2) You typically stay in the higher moderate or deluxe resorts, AND
3) You can pay cash
Then it does make some sense to run the numbers. I've seen it make sense if you can meet all three of those standards.
For example, Animal Kingdom DVC has a listing for resale, 150 points, starting in 2019, for $16,895 assuming no financing. Annual dues are $1,115.
Deed expires 2057 so 39 years to go.
Let's not worry about the time value calculation on the purchase price. Let's also assume that the inflation rate on the dues will be the same as the inflation rate on regular disney hotel rooms.
Purchase price divided by 39 years is $433/year. Add to that the dues of $1,115 and you get an annual cost of $1,548.
150 points is enough for a one bedroom villa, savannah view, for 4 weeknights and one weekend night, September 1-30. So the cost would be about equivalent to an average of $310 a night.
Many people aren't willing to pay $310 a night in September.
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