DVC RESALES
DVC RESALES

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Old 06-29-2013, 11:07 AM   #16
JimMIA
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The other "what do you know now?" point I would make is that DVC is not only a very expensive timeshare, it is also an extremely limited timeshare.

When GF opens, DVC will have 12 resorts, 8 of which are located onsite at WDW. For use exclusively at WDW -- which appears to be your intent -- DVC offers 8 great choices. Nice resorts, probably ranking between deluxe and mod, great locations, great theming...lots to like, and significant value for your money for WDW stays.

But once you leave WDW, you have practically nothing. One resort in Hawaii (least desirable part of the least desirable island), one in Vero Beach (beautiful resort for a tranquil stay at the beach), Hilton Head (another beautiful resort, although not on the beach) and Grand California. Other timeshare systems offer vastly more variety than DVC -- dozens of more locations.

Wyndham, for example, has about 90 resorts in 26 states, including 16 in Florida (5 in the WDW area) and 11 in Hawaii...ALL of which are better located than Aulani. That's 90 places to go without leaving the Wyndham internal system via an exchange. And you can buy Wyndham contracts for $1 on eBay...often with free closing.

In addition, many other timeshare systems include FULL RCI or II membership in their maintenance fees. With DVC, you have limited indirect access to only about 600 or RCI's more than 3,200 resorts. You do NOT have full individual RCI membership (and can't get it), and therefore cannot take advantage of their many great cash vacation offerings.

The non-DVC, non-RCI options currently offered to DVC owners are generally laughable from a value perspective. You would almost always be better off paying cash than using your DVC points for those options. You lose most of those "opportunities" if you buy resale, and that is actually a blessing rather than a loss.
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Old 06-29-2013, 11:17 AM   #17
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Quote:
Originally Posted by Rochester Disney Fan View Post
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.
One minor correction: when transferring to anyone as a gift, whether direct family members, extended family members, or friends, Disney lets the contracts pass to them with direct purchase benefits. Disney does not care who you transfer the contract to, only that no money changed hands.

And to the OP, if I knew then what I know now, I would have purchased resale a few years ago. There are tradeoffs with buying resale versus buying direct from Disney.

Pros of resale:
  • You can get any of the other resorts at WDW as your home resort (except the Grand Floridian, since nothing is on the resale market yet)
  • You save a ton of money.

Cons of resale:
  • You have to be patient; it takes longer to find the right contract on the resale market, make an offer, get it accepted, go through closing, etc.
  • You lose certain exchange options offered by Disney for cruises and non-DVC hotels. These are not significantly discounted over paying cash (or discounted at all once you account for your buy-in cost), they're primarily convenience uses. But it is more convenient to have other uses for your points you can just make one call to do.
  • Lately they've had several member-exclusive cruises and Adventures By Disney trips that have only been open to people who bought their points from Disney rather than resale. Again, financially this is not particularly interesting, but the member trips/cruises often have some minor but unique things about them that might interest you.

Pros and cons of DVC over staying in a hotel:

Pros:
  • You save massive amounts of money over hotel rooms if you book DVC Studio Villas, or you are able to stay in a small apartment with a kitchen and laundry and a living room for still less than you'd pay for a deluxe hotel room.
  • There are a variety of discounts and perks that add up to some nice savings. These are all incidental benefits and can be removed, but they exist now, and most people think it's likely that they'll continue in some form.

Cons:
  • DVC rooms that are booked on points get booked up really early at the most popular resorts and booking categories, like 7-11 months in advance. Hotel rooms (or even DVC rooms) can usually be booked for cash much, much later, even at popular times of year. So you absolutely have to plan ahead if you have specific rooms you want. If you don't mind staying at Saratoga Springs all the time, you can book last minute.
  • DVC Studio Villas are not exactly the same as similar-sized hotel rooms. Hotel rooms have two beds, and DVC studios have one bed and one pull-out sofa. DVC studios have a microwave, but are missing a desk compared to a hotel room.
  • Other folks have mentioned that you get less housekeeping. Though you can pay extra for more housekeeping and you're still saving money.

All of that said, I'd still buy and wish I had bought sooner. The savings (or ability to stay in apartment-like accommodations for the price of regular hotel rooms) are very real, and even if you buy direct it will pay off as long as you use your points to stay at DVC resorts at WDW. If you buy resale, it'll just pay off sooner.

Good luck with your decisions!
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Old 06-29-2013, 12:37 PM   #18
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Originally Posted by winniethepooh2 View Post
I am a newby to the board 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 you I'd get the fixed week contract , if they are available that way youhave a guarantee specific week since it seems you onl want to stay at the GF . I see no downside to the fixed week cause you can always opt out the week and get your points .
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Old 06-29-2013, 01:35 PM   #19
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There is nothing I'd particularly do differently if I could go back in time to my learning and decision making period. We first toured in Sept 1998 and purchased in May 2004. In the years between we learned much through both research and direct experiences.

Slimmest rundown of our learning highlights:
  • DVC is good for staying on Disney property but not particully good outside that definition. In our research we found, purchased, and loved four other timeshare products that provided a better fit for our purposes.
  • Exchanging into DVC using our other timeshare wasn't as tough as people predicted. (Granted, we had done a good job selecting those other timeshare and learned the ins and outs of trading.) Similarly, we've been pleased using SSR points thought the DVC system. I don't feel compelled to owned at a particular resort within the network.
  • Resale was worth trying (we made several offers and went into contract twice) but the price gap, at that time, wasn't a deal breaker. Both of our resale contracts fell apart before going to Disney for review. We purchased direct three separate times and were OK with the price/incentives of each purchase.
  • Our initial purchase (150 pts) was intentionally fewer points than our calculated 'need' (200 pts). We lived off banked/borrowed points for the first few years to get better understanding of the system. Our third contract (new total: 335 pts) put us well over our calculated target number ... but don't you know our travel patterns have made up the difference. We are again borrowing points! (I'm perfectly OK with our current number. I'm pleased to have the 'extra' points and am not, at this time, searching for a fourth contract to make up the occasional shortage.)
  • I'm very glad we researched Use Year (UY) before making the first purchase. Our UY is a perfect fit for our WDW travel patterns but has proved problematic for our CA and HI travels. Given that neither CA or HI existed when we were buying points, I don't how I could have done things differently. I suppose the 'underbuying' strategy left room for later corrections?
  • I'm glad my points are in three chunks rather than one big contract. This allows us to 'right size' the account should we wish, in the future, to reduce the holding.
If your travel plans remain focused on The Grand Floridian and you don't mind the lack of daily mousekeeping, then it appears you are on the right track considering GFV. You should plan on booking your reservations during the home resort reservation window. Don't expect that home resort offers any advantage to you with fewer than 7 months from intended travel.

If you think your travel might change to visiting the Grand Floridian every other year with Animal Kingdom, California, Aulani (etc) between, then consider buying fewer points now via direct with a resale at a different resort later? Best wishes on the research!
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Old 06-29-2013, 02:49 PM   #20
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I can honestly say that we have not had any "gotcha" moments owning DVC in the 4 years we have owned. Unless you count the dues going up every year. But we expected this. When we bought BLT it was brand new in 2009 and the dues were $3.22. They are now $4.50.

That and the urge to add-on points. It's addictive!
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Old 06-29-2013, 03:30 PM   #21
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If you stay on point you will not get the free dining plan when offered. The free dining plan, when offered is to fill cash rooms. This is not a problem, but does confuse a certain amount of people.
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Old 06-29-2013, 03:44 PM   #22
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Some people feel that as DVC members they are treated as lesser guests than cash guests. Others do not. But it is a possibility to be aware of before you make the commitment. A timeshare is not a hotel and if you expect a hotel, you may find yourself disappointed. It may be things like no daily maid service. Or that there may be some rooms with not great views and the front desk tends to shrug their shoulders (and should, we are all members and no member is more deserving of a room with a view than any other...except bootable views of course).

Also note that DVC resorts do eventually tend to book up at or near capacity. If you aren't booking seven months out, you may find yourself locked out of home. This can be frustrating as well.
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Old 06-29-2013, 03:46 PM   #23
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Quote:
Originally Posted by winniethepooh2
my stay is $8,000 for the rooms only
When that $8000 hotel stay go to $16000 in a bunch of years your maintenance fee will have only gone up to approx. $4000. When I bought in my maintenance fees used to pay for a week at Port Orleans ( or what we used to call Dixie Landings), my current fees would only pay for 3 days.
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Old 06-29-2013, 03:53 PM   #24
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We are new owners (via resale) & are thrilled about our purchase. FL residents who have stayed on & off site. We love the WDW resorts & stayed at many of them- convenience, dining, amenities, on-site transportation. I love the idea of planning ahead & always having a vacation to look forward to. Therefore, the home resort book window is great. My DS 7 loves WDW so I know we will enjoy many more years of fun vacations. Only regret is that I wish we had bought sooner! Good luck!
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Old 06-29-2013, 05:34 PM   #25
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Given the things I know now and my other options, I likely wouldn't buy DVC or would buy in very small. But that's because my options have changed, not that I don't like DVC. For the situation you've described, I'd buy a fixed week 2 BR that best matches your usual travel patterns. I think 9 years is optimistic as your best comparison is to what you've been paying at the GF and you fail to track the time value of money most likely but it still would be a good choice compared to 2 rooms at the GF yearly assuming you can afford to pay for it up front and ongoing and can plan ahead plus you plan to cont the same type of trip.
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Old 06-29-2013, 08:54 PM   #26
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Another difference between DVC and a hotel. If you want more towels, you pay for them. If you need more shampoo, conditioner, shower gel, soap, you pay for them. If you want turn down service, you won't get it except for AKV Concierge villas (five two bedroom lockoffs on the sixth floor at Jambo House with not great views). You get what you get and nothing more unless you pay for it. All costs are passed on to the members at that resort.
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Old 06-29-2013, 09:47 PM   #27
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We must be the exception. We have never paid for extra towels and request them often. Same with shampoos, etc. We do try and catch the cleaning team.
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Old 06-29-2013, 09:50 PM   #28
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Originally Posted by Daisyduck49 View Post
We must be the exception. We have never paid for extra towels and request them often. Same with shampoos, etc. We do try and catch the cleaning team.
Nah, you AND I are paying for them. With our dues as they go up each year to pay for the extra housekeeping supplies and towel laundering that some members aren't paying for.
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Old 06-29-2013, 10:20 PM   #29
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We bought DVC in 2006 and I wish we would have split our 200 points into smaller contracts and I also wish we would have bought at BWV or BCV instead of OKW. We have since added on HH and AKV (smaller) contracts for 425 points total and I suspect we aren't done adding (would like some more HH and maybe BCV or BWV). I agree with those who suggest you do multiple contracts as they sell easier and faster if you ever need to sell (and if you have 3 kids...maybe buy 3 contracts to pass on to them someday). Or you could also do the fixed week...I would LOVE to have a fixed week there (standard view studio for Halloween week...for DH and I to do Food and Wine).

I will say that we have been very happy with owning DVC. We love to have a villa with a separate bedroom for us parents (we have 3 kids too and they are now teens so the 2BR is REALLY nice). We also like having the washer and dryer and use it a lot (then we can pack less). We don't use the kitchen all that much but it's nice to keep drinks in the fridge and have a place to make coffee and keep snacks and quick breakfast items. We do 2-3 shorter WDW trips in a year with APs or PAPs (bought with DVC discount) and then the following year no WDW, but use our points for HH or VB instead (last year was VB year, this year is WDW/PAP year and next year is HH year).

As far as DP or deluxe DP...yes you can get it. We will have DP for our upcoming Xmas trip, but we have found that the TIW card (cost is $100 for 13 months of 20% discount on most TS locations) is the best deal going. We can order appetizers and bar drinks and get a 20% discount (but it can't be used for Xmas and Xmas Eve, so we'll just do DP for convenience).

We bought all 5 contracts via resale and it is the way to go in most circumstances. But, I don't see VGF being on the resale market for a while (probably some time next year). And I think they are going to sell out fast. I also think it's going to be difficult to get into VGF at 7 months out using other resort points. If you always stay at VGF and know that's where you will always want to stay...and you have the funds to buy points there...then I can see it's the way to go for you. Come back and tell us what you end up buying.
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Old 06-29-2013, 10:29 PM   #30
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Well then we must really be the exceptions because we have never requested extra towels, shampoos or soap. If some people need extra they can gladly have ours.

We use the towels provided and make them last until trash and towel day or launder them ourselves. We always bring our own shampoo and soap.
In fact we usually decline T&T service because we don't want Mousekeeping in the room. When they do come in they leave extra toiletries.
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