The Value of an Old Key West Extended Contract0 Comments
The original Disney Vacation Club Resort, Disney’s Old Key West, opened in December of 1991. In fact, the original name of the resort was the Disney Vacation Club Resort. Later, the name was changed to provide it with more contrast from the other resorts. The original deed expiration date was January 31, 2042.
In 2007, Disney Vacation Club offered an extension opportunity to Members of Old Key West where they could extend their contract for an additional 15 years at $25/pt. This cost was reduced to $15/pt. for any Member committing prior to February 29, 2008. Years later that extension typically commands an additional $6-$9/pt. when Members are looking to resale their extended Old Key West contracts. It is difficult for the extension to command more than $10/pt. as it can get compared to Animal Kingdom contracts very quickly.
While someone can debate on which resort they prefer more, certainly the numbers between an Extended Old Key West contract and Animal Kingdom contract are very similar. Both have a similar amount of rooms and similar amount of annual dues per point. And now, with extended Old Key West contracts, they have the same expiration year of 2057 as well.
|Resort||Extended Old Key West||Animal Kingdom|
|Annual Dues Per Pt.||$6.01||$6.42|
|Deed Expiration Year||2057||2057|
|*Cost Per Pt. Per Yr.||$8.21||$8.59|
|*DVC Resale Economical Ranking||#3||#4|
*Based on the following blog: Best Economical DVC Resort to Purchase: Spring 2016
The great news is that for buyers of an Extended Old Key West they are purchasing a contract that ranks #3 on best economical value compared to a non-extended Old Key West contract at a ranking of #8 based on the analysis from the blog, Best Economical DVC Resort to Purchase: Spring 2016. And the good news for those selling extended Old Key West contracts is that in spite of the full amount of money spent to purchase the extension rarely being recaptured when reselling, the value these contracts do provide tend to help them sell fast.