Said it before, will say it again:
The effect of the resale restrictions is greatly exaggerated.
1 -- Can only stay in 1 resort. How many DVC owners primarily stay in their home resort anyway? Do lots of GFV owners try to use their points at SSR? Lots of owners mostly already stay primarily at their home resort. I was just checking the inventory for 7 months from now -- There were only a handful of options for studios. No studios at BRV, BLT, RIV, GFV, BWV, BCV, or CCV. If you travel around holiday periods especially, trade options are very limited at 7 months. So owning at "just one resort" is not always much different than owning unrestricted points.
2-- Very soon, Riviera will probably be the only Epcot area resort with any long term value. BCV and BWV are both entering their final stretch. In 2030, there won't exactly be a big re-sale market for a contract with only 10 years left, while Riviera still has 40 years left. And with access to both DHS and Epcot, there will always be a demand for the Epcot area resorts. If you're buying now, you are planning on holding until at least 2030. So realistically, which of the 3 will have the best resale value: "Unrestricted" BWV and BCV with only 10 years left, or RIV with 40 years left. And if new DVC is added to the Epcot area, it will almost certainly have the same restrictions.
3--Any diminished resale value is already baked into the direct price. Yes, RIV resale may be less than GFV resale, but RIV direct is a lot less than GFV direct. For the reasons 1 and 2, RIV resale won't be worthless. For the right price, lots of people would accept the resale restrictions. So if the price is $30 less than a GFV resale, ok.... but it was a cheaper direct purchase too.
4-- Future resorts will have similar restrictions. And the old resorts will have the restriction of not being able to use numerous newer resorts. So in 15-20 years, the reality will likely be that the only way to get unrestricted is by buying direct. And all re-sale will have to deal with off-putting restrictions. A 15-20 year re-sale contract at SSR or AKV would have their value diminished if they couldn't be used at any of the Epcot resorts, for example.
To me, I can understand the resale restrictions pushing someone to buy direct as opposed to resale. But they wouldn't stop me from buying direct in 2021, because it might somehow affect the resale value in 2031-2041.
I like Riviera, and if I loved it, I’d consider buying direct, but I don’t think you can minimize the significance of the resale restrictions.
1. No one really knows where the Riviera resale price will settle in a few years, but there’s a distinct possibility it could be lower. I think most resale buyers want their contracts to retain value. So, for me there’s too much uncertainty regarding the long term worth of the contract, especially when statistics have owners starting to sell after 7 years. If I were going to buy resale, I’d wait a few years. Direct as well, since I’d have a better idea of my contract’s worth on the resale market.
2. I agree about the eroding value of BCV and BWV, but there are those who argue otherwise. If you know that you’re buying 12 years of vacations in 2030 at either resort, and crunch the numbers, I bet they will still be a good value. That said, personally, I wouldn’t own there.
3. When VGF2 goes on sale later this year, it will probably be priced within the same range, or the same as, Riviera, probably with zero resale restrictions. That sounds like a better value.
4. Not everyone books studios. My wife and I stay in one bedrooms, which are easier to book at seven months. Of course we love our home resorts, but it’s fun to “sleep around” too, especially for last minute bookings, when our home resorts are probably unavailable. So no last minute trips with Riviera resale. So that’s another hit to your contract‘s value on the resale market should you buy direct and wish to sell.
5. Future resorts. Hmm. What future resorts? There’s VGF2, which will be a good option. I love VGF and it’s one of our home resorts. Not counting the
Disneyland Tower 3000 miles away, that’s about it. And its certainly not a completely new resort. Or a new building for that matter. In 20 years there will be BCV2 and BWV2, but that’s two decades away! Nothing new there either. I guess there’s always a chance Disney might revive Reflections, or build something even cooler, but if they did, I think I might rather own there than Riviera. But I think that might be 5-10 years away. And there’s no guarantee we’ll see an explosion of new mega resort construction at WDW anytime soon.
6. I think calling Riviera an Epcot area resort isn’t exactly true. I love the entire Crescent Lake vibe, and the boardwalk, and all the fun activity. There’s none of that at the Riviera. And though I haven’t timed it, I’d bet it’s about a half hour in travel time from one’s room at the Riviera to the Epcot Gate. It’s a fun journey on the skyline, but it’s still a journey.
Anyway, I still really like the Riviera. The facility and the rooms are beautiful. Stunning! And sooner or later I might buy direct. I think a contract there, though, would be a better add-on to a portfolio of points elsewhere.
!
. My only suggestion is to maybe buy the 300 points in a few contracts. One has to be 150 points if you are a new DVC member, but then you could buy two 75 points ones too. That way if you ever want to downsize it’s much easier to do so without losing your blue card. It’s about $250 in fees per extra contract but totally worth it it IMHO.
