You will find many here that try and do the financial calculations..............
Here is my calculation:
12K originally invested (13 years ago)
+ 10K in dues (a guess) over the years.
13 years of fun, and, I just got done staying 5 days in an OKW GV which comes with a 10K Rack Rate. I would imagine we have stayed in rooms valued at way over 100K since we became members.
I think it really comes down to: Is this a place I want to go every year or every other year? If it is - then I think the answer is the numbers will work.
You also have to consider what I call the DVC life-cycle:
1) We loved taking the kids and my MIL for years. Everyone loved it.
2) Both my kids - now in college - have taken a dozen different friends down.
3) Last year my kids and their college friends went down solo for a long weekend trip.
4) Eventually Grand-kids will come and I will be the best Grandpa in the world.
5) My kid's will inherit our bounty.
6) I can sell my membership tomorrow and get back my original investment PLUS a few grand.
7) If we run in to financial hardship - we can rent our yearly points to pay for dues PLUS some a grand.
Both my kids, based on the DVC experience, looked in to the College Program and both were admitted and loved it. As did 8 of their friends - after my kids experience. Three of those kids are now working for WDW Permanently. Both my kids made lifetime friendships and we paid for dinner for 5 friends and ex-roomies (now full timers) last week.
My son told me last week: "Dad, we have gotten more out of DVC then you possibly could have paid!". I agree!