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-   -   If you were going to to join DVC all over again...... (http://www.disboards.com/showthread.php?t=3133622)

winniethepooh2 06-29-2013 08:27 AM

If you were going to to join DVC all over again......
 
I am a newby to the board :cool1: and thought I would make this my first post.

I am interested in purchasing at the Grand at DW. I spoke with the rep and he tells me the cost is $150 per point and maintenance fees are around $1,700 annually. I usually go to DW at least once a year and purchase two rooms at the GF. It seems to me if I plunk down $60,000 (400 points) I can get a nice villa or better during the times that I want to go down and my payback would be +/-9 years. Understanding that I would be on the hook for the maintenance fee for the life of the contract, if I am a regular to DW, I don't see the downside to doing this. I confirmed the Deluxe Dining package is available for purchase for everyone in my family (2 adults and 3 children), I would be staying on the same property as I would if I stayed at the Grand Floridian (my usual cost for my stay is $8,000 for the rooms only), and the rooms in the new vacation club building are larger and newer.

What am I missing and what should I consider before doing this?

As my title states - those that have purchased, are there any regrets or things you would/would not do?

Thanks!!

msd1776 06-29-2013 08:33 AM

I would have the pts on multiple deeds. I would think this would be important for you with 400 pts as your travel needs can change and you may want to downsize your points in the future.

Rochester Disney Fan 06-29-2013 08:46 AM

Hi and welcome to the boards.

There is a sticky on the top of these boards ( Resource center) that has a history of all the maintenance fees. Currently GFV is 5.41 so 400 pts will be 2,164 not 1,700.

As well as saving you some money on the rooms you will also get a discount on your annual passes. Many members ( myself included) stager their trips just a little by starting their second annual trip just a week or so before the time they went the previous year to get 2 years out of a pass.

The added benefit of having a washer/dryer and full kitchen in your room will have you never wanting to go back to a regular room. Have fun.

winniethepooh2 06-29-2013 08:57 AM

Quote:

Originally Posted by Rochester Disney Fan (Post 48811992)
Hi and welcome to the boards.

There is a sticky on the top of these boards ( Resource center) that has a history of all the maintenance fees. Currently GFV is 5.41 so 400 pts will be 2,164 not 1,700.

As well as saving you some money on the rooms you will also get a discount on your annual passes. Many members ( myself included) stager their trips just a little by starting their second annual trip just a week or so before the time they went the previous year to get 2 years out of a pass.

The added benefit of having a washer/dryer and full kitchen in your room will have you never wanting to go back to a regular room. Have fun.

Sorry - you are correct. I was originally talking to the rep about purchasing in the 300 point range. See your from Rochester - Nick Tahoes for garbage plates - YUM!

No regrets, things you didn't consider or gotcha items that you experience as a result of your DVC purchase?

JimMIA 06-29-2013 08:58 AM

Quote:

Originally Posted by Rochester Disney Fan (Post 48811992)
As well as saving you some money on the rooms you will also get a discount on your annual passes.

The annual pass discount -- as well as the ability to get DDP -- are CURRENT perks. They are not guaranteed, did not exist just a few years ago, and could go away at any time.

Both of those particular perks are items which DVC must negotiate with other Disney operating units, so you'd be foolish to consider them regarding a $60,000 purchase.

Also, OP's comment on DDP is not quite accurate. OP, you can get DDP for anyone -- family or not -- staying in a DVC villa on points. Not staying in some other Disney or offsite property, and not just because you are a DVC owner. The perk is specific to DVC points stays. Again, this perk could go away at any time.

Deb & Bill 06-29-2013 09:03 AM

Quote:

Originally Posted by winniethepooh2 (Post 48811823)
I am a newby to the board :cool1: and thought I would make this my first post.

I am interested in purchasing at the Grand at DW. I spoke with the rep and he tells me the cost is $150 per point and maintenance fees are around $1,700 annually. I usually go to DW at least once a year and purchase two rooms at the GF. It seems to me if I plunk down $60,000 (400 points) I can get a nice villa or better during the times that I want to go down and my payback would be +/-9 years. Understanding that I would be on the hook for the maintenance fee for the life of the contract, if I am a regular to DW, I don't see the downside to doing this. I confirmed the Deluxe Dining package is available for purchase for everyone in my family (2 adults and 3 children), I would be staying on the same property as I would if I stayed at the Grand Floridian (my usual cost for my stay is $8,000 for the rooms only), and the rooms in the new vacation club building are larger and newer.

What am I missing and what should I consider before doing this?

As my title states - those that have purchased, are there any regrets or things you would/would not do?

Thanks!!

If I were looking at buying into DVC now instead of 16 years ago? I wouldn't be buying into DVC now. The price per point is just too high.

The maintenance fee for GFV is $5.41 according to the DVC Resource thread. That put your 400 points at $2164 this year. This fee is likely go up each year. Maybe $464 isn't that much in the scheme of things to you right now, but plan on it to go up each year. That alone is the price of a discounted ticket.

After the Aulani fiasco, I'm gonna bet they took great pains to determine a correct annual maintenance fee for GFV, but plan on it going up.

JimMIA 06-29-2013 09:04 AM

Also, we'd be remiss if we didn't tell you there is an active resale market for DVC points. You can buy some resort contracts for as little as $50 per point.

You cannot get VGF resale yet, but you will be able to probably within a year...although the price differential won't be that great for the first few years.

Because you are exclusively interested in GF, resale may not be of interest to you, but you should at least know it exists.

winniethepooh2 06-29-2013 09:18 AM

Quote:

Originally Posted by JimMIA (Post 48812092)
The annual pass discount -- as well as the ability to get DDP -- are CURRENT perks. They are not guaranteed, did not exist just a few years ago, and could go away at any time.

Both of those particular perks are items which DVC must negotiate with other Disney operating units, so you'd be foolish to consider them regarding a $60,000 purchase.

Also, OP's comment on DDP is not quite accurate. OP, you can get DDP for anyone -- family or not -- staying in a DVC villa on points. Not staying in some other Disney or offsite property, and not just because you are a DVC owner. The perk is specific to DVC points stays. Again, this perk could go away at any time.


Sorry - not familiar with the acronyms yet - I assume DDP is the Deluxe Dining Plan? If so, I was told the dining plan is only available to those that stay at a hotel onsite as well as DVC members and can be purchased for cash - not points. What am I missing? Thanks.

Rochester Disney Fan 06-29-2013 09:20 AM

Quote:

Originally Posted by winniethepooh2 (Post 48812081)
No regrets, things you didn't consider or gotcha items that you experience as a result of your DVC purchase?

I waited a few years to make sure returning to WDW was something I was going to be doing with no regrets. Joining DVC has made the trips more relaxing knowing you can always do something next time.

As far as the contract itself I did not know about splitting the contract into the point structure you might desire later for either selling part or passing it down to children in equal shares. I learned about that on these boards after I joined. I have added on a few times and have it worked out that my twins can now have equal amounts someday if they would want them for their future family.

winniethepooh2 06-29-2013 09:21 AM

Quote:

Originally Posted by Deb & Bill (Post 48812127)
If I were looking at buying into DVC now instead of 16 years ago? I wouldn't be buying into DVC now. The price per point is just too high.

The maintenance fee for GFV is $5.41 according to the DVC Resource thread. That put your 400 points at $2164 this year. This fee is likely go up each year. Maybe $464 isn't that much in the scheme of things to you right now, but plan on it to go up each year. That alone is the price of a discounted ticket.

After the Aulani fiasco, I'm gonna bet they took great pains to determine a correct annual maintenance fee for GFV, but plan on it going up.

That's the dilemma I face. I realize the cost is going to go up annually BUT 15 years from now (or anytime after my break even from upfront costs is realized) paying even $3,000 annually for a weeks stay seems like it would be worth it when you take into account that the hotel cost at that time would more than likely have increased also. Agree?

winniethepooh2 06-29-2013 09:23 AM

Quote:

Originally Posted by Rochester Disney Fan (Post 48812258)
I waited a few years to make sure returning to WDW was something I was going to be doing with no regrets. Joining DVC has made the trips more relaxing knowing you can always do something next time.

As far as the contract itself I did not know about splitting the contract into the point structure you might desire later for either selling part or passing it down to children in equal shares. I learned about that on these boards after I joined. I have added on a few times and have it worked out that my twins can now have equal amounts someday if they would want them for their future family.

Splitting the contracts is an interesting concept but passing on the contracts means you are passing on the ability to stay there AND the monthly/annual maintenance fee - correct?

Missyrose 06-29-2013 09:29 AM

There are a few differences between a DVC stay and regular resort stay that you should be aware of.

When you stay on points, you don't get daily housekeeping. And also, the villas are different from their resort room counterparts. VGF rooms are very poshly decorated. But for the most part, most DVC villas are less luxe than a regular resort room (and they get refurbed far less often).

OP, it sounds like you know what you want. Good luck and read, read, read before signing on the dotted line (learn about UY, banking/borrowing, cancellation policies, etc.).

Rochester Disney Fan 06-29-2013 09:31 AM

Quote:

Originally Posted by winniethepooh2 (Post 48812274)
Splitting the contracts is an interesting concept but passing on the contracts means you are passing on the ability to stay there AND the monthly/annual maintenance fee - correct?

Yes, when transferring to your direct family members Disney will let the contracts pass to them with the benefits of purchasing direct.

If the family does not want the contracts, you can sell them on the resell market and the buyers are responsible for the maintenance fees.

JimMIA 06-29-2013 09:46 AM

Quote:

Originally Posted by winniethepooh2 (Post 48812239)
Sorry - not familiar with the acronyms yet - I assume DDP is the Deluxe Dining Plan? If so, I was told the dining plan is only available to those that stay at a hotel onsite as well as DVC members and can be purchased for cash - not points. What am I missing? Thanks.

Yes, Disney Dining Plan.

DDP is available to guests in any onsite Disney resort. DVC members can get DDP for points stays. You pay cash for DDP, but you have to be staying in a DVC villa on points. There is no DVC owner DDP perk -- it's tied to a DVC points stay. For that reason, even non-owners renting DVC reservations have the ability to get DDP on the same terms you do.

If you book a regular onsite hotel room, you can get DDP subject to the regular DDP requirements for hotel guests. I haven't used DDP in years, so you'd have to check to see what, if any, differences there are between DVC and regular hotel guests.

Msmithmd 06-29-2013 09:59 AM

Be aware that as a DVC member you will be eligible for the tables in wonderland card, which in almost every situation comes out financially ahead of any Disney dining plan. Google tables in wonderland for more information.

And yes, as has been alluded in prior posts, the only thing buying a DVC interest guarantees you is ability to book at your home resort. All other discounts and ability for anything else is not a guaranteed part of membership.

For what it's worth, in my opinion if you are paying cash, especially for multiple rooms,to stay at the grand floridian annually- then DVC is going to be a good match for you and will be cost effective.

Just be sure to look yourself in the mirror as to whether you will still be making those same trips 30 years from now. If you're not sure, that's where the posts above about buying it in split contracts are relevant. If you buy a single 400 point contract, you cannot split it up for resale later. It would be exceedingly easier to resell all or part of your points interest later if you were to split your purchase into four-100 point contracts now. It cannot be divided once you own.


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