POLL: The OKW contract extension offer -- NOT just for OKW owners.

[JimMIA]

For those of you who have been living under a rock for the last few days, there is news of an offer to be made to OKW owners later this year.

We will be offered the opportunity to extend the life of our contracts (which currently expire in 2042) for 15 additional years, to 2057. Apparently, the cost will be $25 per point for the extension, with a $10 "incentive" offered until Feburary 2008. In other words, owners who sign on the dotted line, will pay $15 per point for the 15-year extension.

If owners decline the offer, the extra years will revert to Disney.

So...what's your preference?

 

[Disney Kim]

I will FOR SURE! I only own a small amount of points at OKW, That I was considering selling to buy more somewhere with a longer contract, If I have the chance to extend my OKW than I would do that and keep it!

I am only 25 so, maybe I would feel differently if I would be older than 60 in 2042. What a bummer it would be to retire and my points expire that same year!

 

[CarolMN]

I said not interested. For me, $15 per point is too much to pay for something that will have no value until 2043!

The only reason for us to extend would be to "recoup" some of our investment if/when we sell. (We own at BWV). We'll both be over 100 years of age if we are still alive in 2057 and I don't think we'll be traveling to WDW much after we enter our 80's - I'd like to think we will, but chances are not in our favor, darn it! The kid can use it when we are no longer able to go. (If she wants a Disney timeshare after we are gone, she can use some of the cash we leave her to get one).

Anyway, since there is no way to know what the price differential will end up to be between 2042 and 2057 contracts, I have no way to calculate the value of an extension.

Since I really don't consider DVC an investment, I'll be putting the "extension" money elsewhere - either into more points (if I want to use it for vacations) or a "real" investment until I need/want it for something else!

 

[jemiaule]

I am considering it if the $10 off incentive is true. I figure we have 200 points and that would only cost $3000 to get the extra 15 years. While it is highly unlikely my husband and I will be using it for that long it would be nice for our sons.

 

[JimMIA]

Obviously, I combined two different questions into this poll, so you'll have to do some rough math on your own to get an accurate perspective. The percentages aren't going to make any sense, but the numbers of responses will.

 

[Sammie]

I am with Carol, we won't be interested. We will be doing good to keep ours until 2042.

 

[snappy]

I'll be 104 in 2057. My money is better spent now adding cash days at either a DVC or non-DVC WDW resort to extend my stays on points.

Too many uncertainties way out there past 2042 anyway. Maybe I'll like Universal more then.

 

[WebmasterDoc]

We will not likely consider the extension. In 2042, our children will be in their late 60's and our grandchildren will be in their 40's (and would be the ones to benefit) - but we don't want to force the responsibility of the maintenance fees on them. They will able to make any Disney decisions on their own when the time comes and we won't make any decisions for them now.

 

[PSC]

The $10 quick acceptance incentive is one reason I would consider the extension for my BWV contract. $25 per point is a lot for something that has no value until 2042. My other reason for considering it is the thought that the resale market will find a "full length" contract worth more that an "early expire" contract. Of course I don't have any decision to make yet, but I'll be interested in seeing what the OKW owners do and what their reasoning is.

 

[OneMoreTry]

I said not interested. For me, $15 per point is too much to pay for something that will have no value until 2043!

The only reason for us to extend would be to "recoup" some of our investment if/when we sell. (We own at BWV). We'll both be over 100 years of age if we are still alive in 2057 and I don't think we'll be traveling to WDW much after we enter our 80's - I'd like to think we will, but chances are not in our favor, darn it! The kid can use it when we are no longer able to go. (If she wants a Disney timeshare after we are gone, she can use some of the cash we leave her to get one).

Anyway, since there is no way to know what the price differential will end up to be between 2042 and 2057 contracts, I have no way to calculate the value of an extension.

Since I really don't consider DVC an investment, I'll be putting the "extension" money elsewhere - either into more points (if I want to use it for vacations) or a "real" investment until I need/want it for something else!

I agree 100%.

I think this a flagrant, shameless ploy by DVC to generate cash flow. I have little doubt they will do this again at some point between now and 2042. Maybe IN 2042. If I'm still healthy then I may extend and will be able to calculate the value of what they are charging. I suspect the investments I use the money for until then will pay for the extension at that time PLUS annual passes for a number of years.

Otherwise I'll use it for some vacations to the Caribbean or Europe or buy a boat.

I would encourage everyone to turn down this offer which I think is a complete RIP OFF. I've never felt so strongly against anything DVC before as I do this.

 

[diznyfanatic]

I said not interested. For me, $15 per point is too much to pay for something that will have no value until 2043!

The only reason for us to extend would be to "recoup" some of our investment if/when we sell. (We own at BWV). We'll both be over 100 years of age if we are still alive in 2057 and I don't think we'll be traveling to WDW much after we enter our 80's - I'd like to think we will, but chances are not in our favor, darn it! The kid can use it when we are no longer able to go. (If she wants a Disney timeshare after we are gone, she can use some of the cash we leave her to get one).

Anyway, since there is no way to know what the price differential will end up to be between 2042 and 2057 contracts, I have no way to calculate the value of an extension.

Since I really don't consider DVC an investment, I'll be putting the "extension" money elsewhere - either into more points (if I want to use it for vacations) or a "real" investment until I need/want it for something else!

Ditto!

 

[jarestel]

I'd have no interest in the extra years if/when offered at VWL. It's not likely I will even still own my current membership in 2042 so there would be no reason to extend.

 

[Longhairbear]

I am with Carol, we won't be interested. We will be doing good to keep ours until 2042.

Likewise here. We wouldn't extend our contract.

 

[WDWorld2003]

Since we'll be in our mid eighties and our kids in their fifties when 2042 rolls around we probably wouldn't consider it. If the kids still want to go after 30+ years I'm sure Disney will provide something for them to purchase

However, resale does concern me.... Our contract would not be as appealing as one that has 15 additional years and could really bring the value down. I'm not sure if that value is worth $15.00 a point right now but it could be worth far more than that ten plus years down the line.

 

[drag n' fly]

I would maybe for resale value and handing down to the kids, With three kids I swear and hope I will get at least one grandbaby to bring down there. We do not own yet but are getting close to doing so. I had to throw 2c in even though I am just a wannabe! I do think it is a cash grab however as are they going to be able to maintain that resort to Disney standards for all those years?

 

[katdocnorf]

Do you guys forget that it does pass down to your children? I will be 88 in 2057, but my children would love to continue using DVC. And I would hope to help fulfill that.

 

[MiaSRN62]

I agree with most who say they wouldn't extend.
While we love our stays at OKW, we feel they skrimped with this resort in comparison to the other DVC resorts. No elevators, no food court (Turtle Shack isn't even open that much & Goods To Go has too limited hours), took away the character breakfast which used to be at Olivia's, no room service. So they'd have to offer a little more amenities at OKW to get us interested.

We are currently considering purchasing more points, but it's for time we can use now. We'll be in our 80's when OKW expires, so we wouldn't be interested. Our youngest will be 49.
We're currently looking at a VWL resale or VAK.

 

[Beca]

If they offer at BCV for $15 per point, I would definitely extend. I will be in my 80's in 2057, but I would love to give it to my dd as a gift. Also, I think if we ever did decide to sell, it would help our resale value greatly.

 

[bnlbebes]

I'll leave it up to DS if he wants to extend our BWV contract in 2042...

He'll be 40 - us 67,68.

As for now - we are waiting for the announcement of GCV and that is where we plan on spending our next DVC $s.

 

[Pootle]

Like Doc, probably not. Love ..... and I do mean love ..... OKW, but I'll be too old to be interested myself in 2042 and my son will be 62.

DH, an engineer, thinks some of the infra-structure at OKW is badly in need of attention now. He and Goofy's Apprentice's DH spent ages discussing the remedial work needed to the South Point pool hot tub (faulty for years) for instance, and the AC units are getting worn out. He believes there is little concern for energy/water usage incurred as a result of leaks or worn equipment. Enquiries to maintenance staff implied that only quick fixes would be undertaken as major equipment refurbishment required senior management approval.

We would need some commitment to a different approach to maintaining the property before we considered the offer.

Oh yeah, and I'd like the decorative cushions to be replaced on the studio beds I smiled when I saw the beds at AKV with the attractive cushions and wondered how long they would last and if they would be replaced after they 'start to disappear'.

Finally, I'd have been more likely to consider $10 than $15 per point and would definitely not even think about $25