I still recommend not buying until it opens. There is so much about a feel of a resort beyond the unit, and the unit will be refurbished 5-8 times in 50 years. But if you have to walk through the lobby o reach the pool, that is forever.
With Riviera, buyer's remorse will be expensive.
Agreed. There are plenty of people that bought at existing, open resorts certain they would love it. And didn't. Definitely a lot of people that bought where Disney was selling at the moment because that's all they thought they could buy and then they've spent their ownership time booking everywhere else. You might as well own something more economical in that case or be certain you love Riviera because you could be more economical with your DVC ownership if you ended up not liking the resort or location and consistently used the points elsewhere.
We bought RIV in three separate smaller contracts. We're a family of 5 - three growing boys, with hopes the oldest will be leaving our payroll in 10 years.
you can definitely get three smaller sized deeds. I just did this a couple months ago. We got a total of 250, with 100/100/50 split. you just have to pay an extra fee (I think it was $225) for each additional contract since that is the cost for filing with the county.Hi Polynor,
We are finalizing a purchase at RIV today and did much of the same analysis you did, including reading all the old Rivera threads like this one!
We too are a family of 5 and it seemed to be the best fit and overall cost. Our family is a bit further along than yours, our youngest (twins) should hopefully be off the household payroll in a year or so.
I asked our guide about splitting a 270 point contract into 3 deeds for easy separation later. All 3 deeds will have all 5 of our names on them so, if the boys don't want to deal with coordinating using the points after we stop coordinating the vacations, we can just pull names off the deeds and they can take their 90 points for their individual families.
Our guide wasn't sure they could do this and is checking with his manager. Did you have any issues getting it done? How many points did you get? I wonder if the sticking point might be that the 3 deeds are for less than 100 points each. Thanks for the help and see you at the Riviera!
you can definitely get three smaller sized deeds. I just did this a couple months ago. We got a total of 250, with 100/100/50 split. you just have to pay an extra fee (I think it was $225) for each additional contract since that is the cost for filing with the county.
You should also get whatever incentives are for the 270 points...not just for 90.
Good information. Thanks!
Are your children over 18? You can’t add children younger than that to the deeds...at least that was my understanding.
Yes all are over.
Can you add a child to the deed when he reaches 18? If you can would that child receive blue card benefits or would the child be consider the same as a resale purchaser?Are your children over 18? You can’t add children younger than that to the deeds...at least that was my understanding.
Can you add a child to the deed when he reaches 18? If you can would that child receive blue card benefits or would the child be consider the same as a resale purchaser?
Thank you.Yes, you can add adult children..or anyone else.,to the deed later on. There is a process and a cost..I believe I’ve seen around $500.
Once added, they would be eligible for a blue card. The only drawback is that once they are an owner, the contract could be at risk if the person had issues such as divorce, bankruptcy, etc.
Looks like everyone answered the question about the deed names — ours are under 18, so we couldn’t add them but we did ask about it. We’ll probably add them as they turn 18....
Our guide wasn't sure they could do this and is checking with his manager. Did you have any issues getting it done? How many points did you get? I wonder if the sticking point might be that the 3 deeds are for less than 100 points each. Thanks for the help and see you at the Riviera!
Looks like everyone answered the question about the deed names — ours are under 18, so we couldn’t add them but we did ask about it. We’ll probably add them as they turn 18.
We bought 360 points (120 per contract).
Congrats on your purchase and welcome home neighbor!