new DVC rules Riviera

[paults]

anyone here that was thinking of buying Riviera before the news came out change their mind??

 

[BillPA]

Once I saw the concept art, I had no desire to stay there much less buy there.

 

[bobbiwoz]

I was never interested in buying there.

 

[wishicouldgomoreofte]

Like bobbiwoz, I never had any interest in buying it, even before the concept art.

 

[Simba's Mom]

No desire to stay at Rivera. Heck, the newest DVC resort we've ever stayed at was opened in 2009. For us, there are plenty of choices.

 

[CarolMN]

For me, it was always going to depend on the cost, villa layouts and point charts. Still does. Haven't seen those yet. So don't know if we will buy a small contract at Riviera or not just yet.

FWIW, when we first purchased in 1999, my analysis did not count on getting any $$ back if we should have to sell. Still won't for any future purchases. For us, DVC was a luxury purchase. Considered it a sunk cost from the beginning. Wouldn't have bought if I thought we would ever need to get money out of it by selling. Worked in the Financial Services industry and saw too many people who came to regret buying luxuries before taking care of emergency funds, life insurance, saving for retirement & children's college educations, etc.

 

[JETSDAD]

anyone here that was thinking of buying Riviera before the news came out change their mind??

Our plan had been to try to stay there on our current points to see if we liked it but it was one that we were considering purchasing. The point charts along with that visit would ultimately determine whether or not we would buy. The new rules have caused us to not have interest in buying there direct unless it is just amazing and/or there are some hard to book categories that we would like to take advantage of but require the 11 month booking (such as Value and Club rooms at AKV)

 

[Bing Showei]

For us, DVC was a luxury purchase. Considered it a sunk cost from the beginning. Wouldn't have bought if I thought we would ever need to get money out of it by selling.

I think this was my fatal flaw in buying in. I read the posts that people like Dean would repeatedly throw up about luxury purchases, I parroted the lines about how this shouldn’t be financed because it’s a risk, I intellectualized that a timeshare should be considered a sunk cost, etc., but if I were being honest with myself? Yeah, I had a resale exit strategy in the back of my mind.

I think those who truly understood the product they bought into and all the rights you sign away in so doing (no, those weren’t hypotheticals you were agreeing to - Mumof4mice has a great post spelling some of this out), those owners are much more at peace with a lot of the restrictions.

For me, this is a bit of a growing period... growing pains and all. I’ll say this though, as an owner who continues to own after these latest restrictions, re-allocations, and discussions around corporate greed; for the first time, I’m going to own all of it.

So when Disney comes out with the exchange charts that show our grandfathered exchange into the new DVCs have essentially become the new DCL exchange where the value just isn’t there, I will not be among those who lament how DVC has changed and have devalued our timeshare ownership. Or that they “don’t care about the membership.” I know they don’t, and I’m starting to come to terms with that.

It’s exhausting feeling like you’re in an abusive relationship with your timeshare. So if I decide to stay, I’m owning that decision.

 

[zeferjen]

I intellectualized that a timeshare should be considered a sunk cost, etc., but if I were being honest with myself? Yeah, I had a resale exit strategy in the back of my mind.

How long have you owned? I think I broke even just from savings from the trips we took. That said, I am still not happy with Disney devaluing something I bought from them. But you can still make a ton just renting your points so I am not at all in a hurry to sell even if we may not go as often as we used to.

 

[Bing Showei]

How long have you owned? I think I broke even just from savings from the trips we took. That said, I am still not happy with Disney devaluing something I bought from them. But you can still make a ton just renting your points so I am not at all in a hurry to sell even if we may not go as often as we used to.

I bought into the system in 2017. I appreciate where you’re coming from, but I’m not a fan of the “break-even” calculation of value. Comparing DVC to even discounted rack rates to determine break even (how most people do it) is comparing apples to oranges, I feel.

But that’s a whole other can of worms you don’t want to start me ranting on.

 

[zeferjen]

I bought into the system in 2017. I appreciate where you’re coming from, but I’m not a fan of the “break-even” calculation of value. Comparing DVC to even discounted rack rates to determine break even (how most people do it) is comparing apples to oranges, I feel.

But that’s a whole other can of worms you don’t want to start me ranting on.

Lol, totally understand. We were very lucky to buy resale in 2009 when the stock market was tanking and everyone was dumping their timeshares. So our buy-in was low. I think your approach is good. You have a sunk cost and you are enjoying your benefits every year.

 

[Ben E N]

I'll be curious to see how fast Riviera sells out. CCV sales are currently slowing, so there is a not a lot of momentum going into its opening. They will have those resale restrictions, which will have some, but not not much, impact on people's interest to buy. It's in one of the worst locations for a DVC resort. It looks massive, so there will be a lot more points that they will need to sell. They will almost have to start sales at $185 a point or higher. And then the resort has a 2020 opening of Reflections breathing down its neck.
That's a lot going against this resort before it even opens. It could end up being a great place to stay, and I do plan on checking it out using my grandfathered resale points, but these recent changes have convinced me to never buy there.

 

[drusba]

My impression in the past is that add-on sales to existing members was always an important part of the sales of a new resort. I wonder if the new rules wil result in a significant decline in add-on sales for Riviera, because the new rule is something existing owners will consider in deciding to purchase.

I also wonder if Disney is going to instruct its sales personnel to specifically tell new purchasers of the resale limitation or, instead, just allow the issue to be buried somewhere in the POS, while the salesman emphasize the ability to trade out to any other DVC resort.

 

[Lauren in NC]

I understand it's financially foolish to factor in the resale value, but emotionally, it was a nice perk that if we felt the need to sell, we'd likely be able to recoup our initial buy-in.

I dislike the concept art for Riviera, but I was interested in the gondolas. DH and I were starting to talk about adding on with a WDW resort and had contemplated buying direct, but I think that now, unless the incentives are absolutely ridiculous, we'll stick with resale. I'm not sure what percentage of direct buyers are existing members, but to me, the new resale restriction is a huge negative.

 

[Candlelady]

anyone here that was thinking of buying Riviera before the news came out change their mind??

No. I have no desire to own points at Riviera due to the size. It's massive and that's not something we enjoy on vacation.

 

[KAT4DISNEY]

anyone here that was thinking of buying Riviera before the news came out change their mind??

It wasn't really under my consideration but I'm a never say never. Until now. They easily nipped any need or worry of considering it!

My impression in the past is that add-on sales to existing members was always an important part of the sales of a new resort. I wonder if the new rules wil result in a significant decline in add-on sales for Riviera, because the new rule is something existing owners will consider in deciding to purchase.

That is also my understanding and what prompted the indication from DVC that they made a mistake with PVB that they wouldn't do again. It was because they didn't have the same level of current owner purchases that they recognized a failure of some sort.

 

[DenLo]

We have always said we have enough points now. However, we are considering selling our Aulani contract because long trips to Hawaii will soon becoming more than I can handle because of health problems, not yet though, so we hesitate to sell so soon. If we sell those points I always thought we would consider buying at the Riviera. Now I am worrying that the resale price of Riviera points might be very low at the point we are ready to sell those points when age and health is once again a factor. I would like enough money back that represents the remaining years on the contract.

So the changes are definitely affecting my decision on whether to buy Riviera.

 

[Jperiod]

Yes, if we liked the units and the points weren't crazy, I was thinking we'd buy enough points for banking/borrowing a week in a 1 bedroom every 2-3 years. But between the astronomical premier AP price increase (we're west coasters, so DLR is our go-to) and this new restriction, not only are we no longer interested in buying there, we're not even planning to go back to WDW in 2020 or the foreseeable future! Our kids would rather visit other places, so this was the straw that broke the camel's back. Matter of fact, we were mulling over buying more resale points last night before 1/19, but decided that our VGC points and DLR will have to be "enough." I'm kinda sad, but we just can't justify the cost and limits imposed, not to mention our kids just don't have the disney bug like me and DH. Perhaps that'll change when we become empty-nesters. We were going to disney long before we had kids, so I know we'll be going long after they're gone too.

 

[js]

Lol, totally understand. We were very lucky to buy resale in 2009 when the stock market was tanking and everyone was dumping their timeshares. So our buy-in was low. I think your approach is good. You have a sunk cost and you are enjoying your benefits every year.

Happy DVC 10 year anniversary!

We also purchased resale in 2009. We have 420 points that were purchased at SSR-120 for $73 per point and then again that month for SSR-300 at $69 a point and we usually stay monorail, although SSR GVs and THVs are also a great stay for us. We have had great trips, DCL trips and love our purchase.

We own two other TS, both fixed weeks. One in August in HHI three bedroom at Spinnaker (got that resale for $6000 a December purchase when TS owners unload their purchases) and one three bedroom at Orange Lake Country Club in Orlando and went into purchasing DVC with the mindset it is just like any other TS at the end of the day.

To answer OP, although I would love more points, there are maintenance fees and we do like to cruise and take other vacations. However, I would like to stay at Riviera.

I also wonder how many first time buyers will not know or care about switching to other resorts. For the most part, unless you trade into RCI, you stay where you purchase with a TS. I think anyone that wants to purchase a timeshare should get educated and a good site I use which is a TS forum is tug2.net. There are so e people on the disbaords that are also members of that group.

 

[tjkraz]

It's in one of the worst locations for a DVC resort.

I'm not sure if that will be the consensus. Geographically it's very close to Epcot and DHS. Fireworks view and Skyliner to both parks. Objectively, I don't see how the location of AKV, OKW, SSR or VWL is superior. None have more convenient transportation to 2 parks nor more central location.

It looks massive, so there will be a lot more points that they will need to sell.

300 rooms...about the same size as Bay Lake Tower. BWV, OKW, SSR, Poly, AKV and WL all have more DVC villas.

And then the resort has a 2020 opening of Reflections breathing down its neck.

Reflections is a 2022 opening.