Has Disney made any announcement about the construction at the Contemporary Resort. I would love to buy DVC at the Contemporary…walking distance to MK makes me smile!
It’s still just rumored that the new building will be DVC.
Thanks…I really hope they are DVC villas. Otherwise I don’t see me ever getting to stay there.:sad: I just love the thought of walking to MK and the monorail!
Nothing on the official WDW site yet. But what if it turns out to be just regular rooms? That would still be great.
I have been renting DVC points the last couple years. One day I will buy into DVC, but for now student loans take my excess money. Renting allows me to stay in places I couldn’t afford otherwise. So, I am really hoping they are villas, if not no contemporary for me!
MissDis…I think I read somewhere that the plans and permits that were filed said DISNEY VACATION CLUB. Something like that…
When this starts to sell, I’ll be one of the first in line. But I think it won’t be for a couple of years. AKV are still new, and buildings aren’t even completed there. One AKV is NEAR completion and almost sold out, that’s when they will probably announce CRV. I CAN’T WAIT!!!
Keep on renting. I looked at a cost breakdown once and unless you have cash to buy in, financing will put the cost over the rental cost. If you rent 2 times in a three year period, you’ll finish ahead after 30 years. Take a look here…
What if you plan to use a third of the points for yourself and rent out the other two thirds (like we plan to do)?
That is a great link, btw…since I am not a financial expert in ANY way, I’d love to hear if my plan is worth it. Buy points, use a third,rent a third. I’m sure you can get at least $12 per point at the Contemporary! Being on the Monorail line is a huge selling point for me.
What do you think?
Logically, Beach Club Villas and Boardwalk are walking distance to to the Studios and Epcot and AKL Villas are as close to AK as you can get. MK does need a DVC property in walking distance to MK. But anything can change before they top out the new tower, which I think will be as tall as the main tower based on crane height. Also, they’re only just pouring the 4th and 5th floors now.
Here is the permit info.
Our rep confirmed with me recently “this is just a rumor”…yah right, lol! Can’t wait til they announce it!
If Contemp was made avail to DVC I would def. want to buy in but on the other hand, I do enjoy booking packages with everything included as a whole!
Anyone else feel that way?
I call my trvl agt up, Iam booked for hotel, park tickets, meal plan and any transp that is needed. But when you rent points, etc… with DVC, you have to book everything separate and dont have everything on those nice plastic room keys! Plus you dont have that everyday maid service!!! :eek: Yes Iam spoiled like that!!! I hate having to use the same set of towels for 4 days on vacation! :ph34r: :laugh: Anyways, although it is cheaper to rent points then booking a package thru my trvl agent, it has its pros and cons and yeah I would need to pay cash for DVC, I can’t afford to finance it AND pay the maintenance fees, etc…
When you rent points they do put everything on your room card. I have done this twice, once in Jan 2007 and again in Nov 2007. Everything was placed on the same card and it was great. Actually the person whom you are renting from just puts on the reservation that you are going to be using the dining plan and you pay for it at checkin and they put it on the same key. Then the hotel concerige puts the park tickets on the same card. So you do not have to pay for meals or tickets prior to checkin. As far as towels go we got new towels when needed from mousekeeping or if need be we picked one up from the cart at the pool. Overall, the price is so much cheeper I can’t imagine paying rack rate for the deluxe resorts that offer DVC villas.
Im guessing you have to figure out the increase in dues per point vs. rental cost.
If you have 12K in cash to invest, and invested the dues (500) or so over the next 25 years, a modest 8% return would net you a total of 135,000 (minus taxes if your situation dictates). This is your opportunity cost, the amount you would give up to own DVC.
If you purchase say 360 points ($32400 at 90 a point) and rent out 240 a year for a net of $1920 ($8 per point taking into account $4 per point dues) year. It would take you almost 17 years to recoup your investment. Assuming you paid cash, your money has made a negative gain because of inflation and Disney’s dues increases of 3%.
That same $32400, invested over 17 years, with additional yearly investments of $1440 (what you would pay in dues) would net you $170,369 at a modest 8% interest.
Current prices seem to be $104 per point. In the above scenario your net would then be +197,097 after 17 years.
If your financing, forget about it. You will be so far in the hole that the numbers are scary. 32000 at 6.75% for 10 years has you paying over 12K in interest, not to mention the dues.
Also, If you are paying a mortgage on a house, you would be better off paying that off first. There is a reason Disney is building DVCs as opposed to regular hotels. They’re cash cows, and keep you back on Disney Property once a year.
Of course these are bland predictions, but I feel you are almost always better renting. Let me know what you think…
Here are a few pictures I took of the construction last month.
hmmmmmm…food for thought! I already own timeshare though (not with Disney) so I am familiar with the whole concept. But you have made me realize that maybe owning DVC isn’t the right thing. Hey, at least we have some time to think about it. :laugh:
BTW, my friends mom is buying 600 POINTS at AKV tomorrow, strictly to rent. :huh: She’s buying at $104 a point…and she gets 600 BONUS points!!! She’s gonna have a lot of renting to do! :laugh:
Here is a link to another thread – it was started in 2006, but it has new information, including photos, videos and news stories posted in the past few days!