I’m looking into DVC for my sister and me. We will only buy in California, which currently only has the Grand California. We really want to also have access to the new announced DVC property by the DLH, set to open 2023. With the new restrictions for access to new resorts for those buying resale we’re wondering, If we buy GCV via resale, then add 100 points of the new resort direct, will we be able to use all our points, including the GCV points for that resort?
No, only your direct points. You currently can bank your direct points and use 200 points every other year. If you have resale points you can only use them at the original resorts. As more and more resorts are built, and the older resorts age out, this becomes a larger issue.
Thank you. I don’t know what to do because the resale value of the new resorts, since resale points can only be used at that specific resort, is greatly decreased. The policy will effectively destroy the resale market for the new resorts. This is one of the great benefits of DVC is the ability to sell without a huge loss, when it’s no longer needed.That will no longer be the case. Now trying to decide if we should just buy all 200 points at GCV, with 100 direct.
Resale points at any of the “legacy” resorts (the original 14) can be used at any other legacy resort.
They are only invalid at Riviera for now, plus any future resort - like Reflections.
@BellesRose2K, are you considering what you will do when the new DL DVC is available?
That is the big ? The only future resort that’s important to me is at DLR. I would really want to have access to the new one. If we buy 100 GCV points direct I would have access to it at the 7 month window. If it’s in as much demand as GCV, then that might not be good enough, but I don’t see many people wanting to buy any DVC property resale that only gives u access to that one resort. I foresee selling at some time in the next 50 years, and I’m afraid that restriction would make it fairly worthless on the resale market–unlike most DVC. I’d really like the 11 month window at the new resort, but that restriction really makes me not want it for financial reasons.
You thinking of buying direct at the new DLR? If I was to bet, I think that those restrictions would not matter to anyone although if it is going to priced around the same as GC direct, GC would be better for you in the long run since the resale restriction wouldn’t limit you to one resort if you were to sell?
Is it even possible to get GCV direct? Is there a long waitlist?
I am sure there is.
I’ve heard there is a long waitlist, but sales is closed right now, so I can’t check. It’s expensive though–$280/point no other resort comes close in price. However, I can’t imagine the wait list would be longer than waiting for sales at the new DLH resort to open. The big dilemma is between wanting 11 month at new resort versus protecting my financial investment (yes I know it’s not really an investment).
Does anyone know how sales are going at Riviera? Is this restriction discouraging new buyers?
Not in terms of how quickly points were selling I believe.
Some of that could be down to existing members buying a small add-on there. After the initial reaction to the new restrictions, many were actually wowed by the resort rooms and did buy.
All in all, sales figures held up well against sales at the Poly and Copper Creek.
If someone buys direct at one of the original 14 now (i.e. after January 2019) and then sells the contract, are those resale points restricted to the home resort only, or can they be used at any of the original resorts? If not, do you think that will change as the original resort contracts come full term and Disney becomes the only source of new contracts going forward?
Once you sell those points are then restricted points but can be used to book at any of the legacy resorts. Only exception is if the points come under a gratuitous transfer (usually inherited by will or trust).
No reason to think that will change. As the 2042 resorts finish, there will simply be fewer legacy resorts to trade into.
If you buy direct from the original 14 if you sell the new owner is not limited to home resort only.
I believe as the originals expire, they most likely will be resold with that home resort only restriction. That is still over 20 years away?
Interesting. If they are doing it for new resorts I would have thought they would do it for new contracts at the older resorts. Or are they not allowed to because the bylaws owners sign for each resort have to be the same?
I think they can make that rule at any time but @Nickysymemight have better insight.
The legacy resorts are all part of a club. The deeds and POS essentially mean anyone owning there can trade in and out between those resorts as they want. Doesn’t matter if you have direct or resale points. And they cannot just change that rule for new owners going forward, whether direct or resale.
They can change benefits etc, which is why resale owners cannot get the DVC AP, for example.
My understanding is that when they drew up the deeds and POS for Riviera, they changed them. It is now in it’s own little “club”. Those with “qualifying” points can use those points to book there, which are any direct purchaser or those who bought resale before Jan 2019. That was stipulated in the Riviera rules, not because they changed the legacy rules.
I put my name on the waiting list for GCV. We’ll see how long I have to wait. Wanting 100 points. Can I separate that contract into four 25 point contracts, so that it’s easier to pass down to kids or sell if my kids don’t want it?
No, you can’t break it up. My DVCPoints Podcast recently did a show on putting DVC into trust or passing on to your children.
But when you buy you can ask for it to be separate contracts. DVC now have the ability to change a contract they buy back in ROFR, so they change the use year or break it up to resell.
if you then sold one, you would lose your blue card privileges. Not sure whether each of the 4 contracts would be grandfathered in if you pass them on separately to your children though.