Caleb Allison is back with a case of addonitis. What started as a post for thoughts and advice in the My DVC Points Patreon Producer's club ended up being a podcast episode as Chad and Caleb discuss options for adding on.
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Caleb's original post:
Long post but important. Talk me off or push me off the ledge. I spoke to a guide last week about adding direct points. So I have until the end of today to make a deposit which will give me 10 more days to fully make a decision. This is to take advantage of past incentives. ($25 off per point)Here is my scenario. I own 75 pts at Riviera for my blue card. I own points at AKL resale and SSR resale, both purchased after Jan of 2019 so they can only be used at the legacy resorts. All of these contracts have a March UY. We typically travel in the summer every year (sometime between late May and the end of July), March every other year, and an occasional/rare Christmas or February trip.
I am considering 150pts ($195/pt)at CCV with a December UY. Here is my reasoning.
- Different Resort and a different area. This would literally give me a resort near every park and Disney Springs.
- CCV avoids the massive resale restrictions and possible resale devaluation that Riviera has. I LOVE LOVE LOVE Riviera but I hate hate hate the resale restrictions. We are transitioning to being a 1 BR or more family especially since we are going on longer trips. So my thoughts are that I can use my RR points at 11 months and transferred CC points at 7 months to get 1 BR at Riviera for the summer months about every other year. It appears with the updates to the member site that using transferred points will become much easier.
- Dec UY: It appears with the updates to the member site that using transferred points will become much easier. I'll be using most of the points to enhance my summer stays but a Dec UY will allow me to use the “leftover” points for the occasional Christmas or February stays. Also, the banking deadline is July 31st so if I'm not using the points for the summer I will still be before the banking deadline. (Bonus I should get 2019 points pre-banked for me.)
- Estate planning and exit strategy: We are a traditional family of 4. I plan on breaking this purchase into two 75 point contracts. This will allow me to give each child 75 points at CC to be on their way to being a blue card member themselves. (I can't afford 100 for each). Also, if things go south I can dump a 75 pt contract at a slightly higher rate than 150. I'm buying direct for use at Riviera (and future resorts) and estate planning.
Chad's suggestions on things to consider:
Chad suggested that Caleb consider buying in at Old Key West as it has the smallest resale-to-direct gap. You buy a resort that's priced on a 2042 expiration date but you get the extension when you buy direct so the contract is good until 2057.
Chad suggested that Caleb may have more than 10 days to think this over. He should consider NOT signing the final paperwork until he's fully committed. When you put down the refundable deposit, you lock in the cost of the points. The 10 days to back out of a DVC contract and get your money back (minus rack rate for any new points you used), starts the day your receive 100% of your paperwork, you sign, date, and return the documents. By dragging your feet on signing the paperwork, you can prevent that 10-day clock from starting and get more time to think things over. Caleb indicated DVC is using DocuSign now, so that streamlines document delivery and return of the documents. Chad suggested he look into what constitutes actually signing the document and starting the 10-day clock to cancel a contract.
Chad also suggested he consider buying a 100 point and a 50 point contract or three 50-point contracts for estate planning purposes. This way he can give a child the 100 point contract that is 100% eligible for blue card memberships. Giving them each a 75 point contract isn't a full gift. The contract needs to meet the criteria at the time it was issued so that it will be grandfathered if given to an heir.
Update: Caleb decided to purchase a 100 and 50 point contract at Copper Creek.
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