Is dvc right for me???

Discussion in 'Purchasing DVC' started by rymahoney, Jan 15, 2014.

  1. rymahoney

    rymahoney Mouseketeer

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    WE just returned back from Disney. Second trip in 2 years. We have a 4 ur old daughter and a 5 month old daughter. We went on the dvc tour at BLT which is not available. We have the numbers and will be financing this no doubt. Here is my questions.
    Where do I look up resales and is financing available?
    Is there benefit to buy direct from Disney?
    Where do I go to look at pictures other than the enhanced Disney villa pictures. To show condition of rooms these days at different resorts?
    Where do I look up points required for different properties?
    We like the 2nd and 3rd week of jan. Or between thanksgiving and Christmas.
    Thanks for any help I'm sure you guys get these all the time.
    Ryan
     
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  3. bakerworld

    bakerworld DIS Veteran

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    This is an important question:
    Remember DVC is purchasing a discounted room - there's still tickets, transportation, food and spending to be considered. It's not going to save you the bulk of your vacation expenses.

    I use to see the negative responses to this question and wonder. After owning for a few years it's obvious that some people purchased only for their children. It takes about a minimum of 7 years to re-coup the cost. They become dsgruntled and negative.

    IMO this should be a purchase for the adults as well as the children. We didn't purchase DVC until our children were well out of the house. Frankly we love our DVC and are glad we purchased post-young children. Back then the vacation aspect for us was the housekeeping and customer service relative to staying as a paying customer.
     
  4. Deb & Bill

    Deb & Bill DVC-Trivia Contest, Apr-2006: Honorable Mention

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    You've had two trips in two years. Did you hold out until you got a deal from Disney, like reduced rate, free dining, etc? Or do you book deluxe resorts anytime you want to go? DVC isn't a way to save money. You will actually wind up spending more because you go more often and you need transportation there and back and park admission.

    We bought when our son was four; he's now 20 and in college. But we still go, maybe twice a year, combining one trip with a trip to the beach.

    Condition of the villas is usually good, but you will find some damage and they are not refurbished on the same schedule or in the same manner as the hotel rooms because members pay for all refurbishments.

    BLT is available, but you get the best deal by buying resale instead of direct from DVC. And if you insist on buying direct from DVC (and paying anywhere from 20%-100% more), you can insist on buying a resort they say is sold out. They are always buying back points during ROFR or from foreclosures.

    Another thing, DVC busy times don't alway mesh with WDW busy times. DVC resorts are intended to be 95-98% occupied at all times. So mid-Sept to mid-Jan can be very busy. And the first week of Dec is the most requested week of all.

    You can go to the top of the page and find the points required for each resort, each category, each season of the year.
     
  5. chalee94

    chalee94 <font color=green>I thought all sand was ground up

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    there is a banner ad for the timeshare store that is a good place to start. remember that asking prices are not identical to final sale prices.

    financing can be available for resales. rates are still pretty high as they are from disney directly. it is probably cheaper if you can arrange your own loan...and of course, the additional interest you pay limits or erases any financial savings that owning DVC may give you.

    closing is faster. you also get more options (you can trade for disney cruises or disney hotels like the poly or fancy hotels like the hotel del coronado in san diego) but they are not a good deal financially - it takes a lot of pts - so it's hard to call them a benefit.

    you could start here:

    http://www.disboards.com/forumdisplay.php?f=164

    be aware that this is super-busy season for DVC bookings. buy where you want to stay and book promptly at 11 months out.

    but, in general, you probably want to take some more time and investigate what you are planning to spend so much money on...
     
  6. robinb

    robinb DIS Veteran

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    You are in a great time of your life to buy into DVC with 2 very young children. You are already a repeat visitor so you know you will enjoy multiple Disney vacations.

    I purchased and sold contracts via The Timeshare Store. They have specialized in DVC for years and really know their stuff. I am sure that they can arrange financing for you.

    Points purchased directly from Disney can be used on cruises, on Interval International trades and for the "Concierge Collection". People often find the DVC point prices for cruises to be expensive and they will often rent out their points and then use the cash from the rental to book their cruise. I have tried a couple of times without success to trade through Interval International so I don't find that to be a perk either. I did use my points at a Concierge Collection hotel once. I was in a "use it or lose it" situation with a brand new resale contract. I have not been tempted since.

    I think there is a DVC room thread somewhere. You can also look over at www.allears.com for photos of villas.

    The Timeshare Store has a chart. I also like to use David's DVC By Request site to look up the "price" for a specific date range: http://www.dvcrequest.com/ .

    Those times work for you NOW but you also need to get out your crystal ball and look into the future. What happens when your kids start school? Are you willing to take them out of school for a vacation? What about when they are in middle school or high school? You may want to plan for enough points for a studio at your home resort over Christmas or Spring Break. Of course you can always buy more points down the road once your kids get older and the "Adventure" season no longer works for you. FWIW, both the times you listed can be difficult to book into DVC. Early Dec is a VERY busy time because points are low and the Christmas decorations are up. The January timeframe is problematic because of the marathon.
     
  7. chalee94

    chalee94 <font color=green>I thought all sand was ground up

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    BTW, DVC used to trade through Interval International but currently trades out for other timeshares through RCI. (it might change back at some point, who knows?) RCI trades are similarly iffy, but you get the option to trade out through RCI whether you buy direct or resale.
     
  8. rymahoney

    rymahoney Mouseketeer

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    Do any of you share your time share with a sibling or relative and rotate years of going? I'm looking at this as 50 yrs if vacations. But after reading around the other locations that Disney told me everywhere was 160 points are not worth it. They showed us 100's of places around the world. We will be looking into this over the next month or so. So please let me know the in's and outs. I'll to a search here but it never seems to work right.
     
  9. chalee94

    chalee94 <font color=green>I thought all sand was ground up

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    not recommended. if one of you has an issue (divorce/bankruptcy/whatever), both of you wind up screwed. better to buy half and own it outright IMO.

    if the search here is broken, just go to google and type in your terms and add "site:disboards.com" without the quotes.
     
  10. robinb

    robinb DIS Veteran

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    Thanks! I forgot they changed companies. I guess I actually tried to trade with II many years ago and RCI 2 years ago. Both were a total failure.
     
  11. disneynutz

    disneynutz DIS Veteran DIS Lifetime Sponsor

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    You don't need to search, just start reading threads here in the purchase section of the DIS, your questions are asked a couple of times per week.

    :earsboy: Bill
     
  12. robinb

    robinb DIS Veteran

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    My opinion: Do not buy DVC to trade out into those 100's of places. It's a marketing ploy. Very few people take advantage of that ability good reason: DVC is good for Disney World, Disneyland & Hawaii. Full Stop. If you want a timeshare that "trades well" to other countries, states, etc go to The Timeshare User's Group (www.tug2.net), join the group for a year and research the best/cheapest trading timeshare. DVC is WAY too expensive and maintenance is WAY too high to trade out. You can pick up an excellent trading timeshare for a fraction of the cost of DVC.
     
  13. crisi

    crisi DIS Veteran

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    Spend at least a month reading.

    I suspect you are not a good candidate for DVC - but I'm financially conservative. To me it depends on why you are financing and why you are buying. DVC is not cheaper than other alternatives - like offsite, or value resorts or even free dining - if you want to stay in a studio. If you want to stay in a multiroom unit - its very nice, but won't be any cheaper. If you are financing because the money you would use for this is currently tied up in the stock market and you think that you'd rather use leverage to buy DVC, then maybe - if you are financing because you don't have $15k, then not until you save $15k.

    DVC and Disney is very expensive - they make it sound like its a great deal - and for some people its a great VALUE - but its expensive. And not too long from now you'll have tickets for four, and not too long after that three of those will be Disney Adults - and then it will be four Disney adults. And a few years after that, you'll be paying college tuition and wondering (as many do) where are all those great scholarships and grants you hear about, because your financial aid package is all loans and your expected family contribution is well into five figures a year. Dues go up every year, and a minimal contract is almost $1000 a year in dues.
     
  14. rymahoney

    rymahoney Mouseketeer

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    Reason we were considering it was the fact we love Disney and have young kids 4 and 6 months and we see ourselves going at minimal every other year for the for a long time. Money wise I currently don't have 15k in my savings but I do contribute to a good bit to 401k and my Ira. My wife and I are both 28 years old and done having kids!!!
     
  15. crisi

    crisi DIS Veteran

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    So the reason you are financing is that you can't afford to pay cash and the reason you are buying is you want to.

    You need better reasons to buy and better reasons to finance. Then it might be a good fit.
     
  16. Missyrose

    Missyrose DIS Veteran

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    On RCI: DVC members are only allowed to trade into a very limited number of RCI resorts. The bigger problem with RCI is the resorts you would trade into aren't very comparable to DVC resorts, quality-wise. DVC is a very expensive timeshare (both in terms of buy-in price and annual MFs), and a large chunk of the RCI resorts DVC members can trade into are simply not as nice. It's often like trading a Mercedes for a Mazda.

    On financing: Everyone makes their own financial decisions based on their own financial picture. The interest charges on a 10-year loan will almost double your cost of DVC. If you believe buying directly from Disney is beneficial at $150 per point, would you still think it's reasonable and as valuable at $250 per point? Because that would be what your price is when you include the interest charges.

    You do sound like a good candidate for DVC when it comes to use. If it were me, I'd think about saving for a few months or a year and buying a resale contract with cash. That is what my husband and I did. We bought two resale contracts with cash (BWV and BLT). And in full disclosure, we financed our VGF contract through Disney BUT we did a one-year loan (4.85 percent interest). It required us putting 50 percent down. We financed the other 50 percent simply because we were getting married this past year and had a lot of wedding-related bills to pay right around the time they started selling VGF, but we paid off the loan four months after taking it out.

    Good luck with your decision. We love Disney and cannot wait until we start a family and we can enjoy our DVC contracts with our kids!
     
  17. disneynutz

    disneynutz DIS Veteran DIS Lifetime Sponsor

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    Hey it's your money, just please take the time to learn all of the aspects of DVC ownership and look at your total costs when vacationing at Disney.

    Disney tends to have a special place in our hearts and they do a great job of setting the stage and making an emotional sale. DVC vacations at Disney over a 50 year period can cost $300,000 or more.

    :earsboy: Bill
     
  18. Lorilais_mommie

    Lorilais_mommie " They can drink pepsi, but they can't pee in the

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    We are in your same boat.. My kids are 7 & 2..
    They last 7 years we have been to WDW 4 and DL twice...
    My husband never dreamed we would be going to Disney every other year living in New England.
    But I grew up in CA, where we would go to DL every year, sometimes twice a year!
    When I Get that itch its bad.. MY DH spent last weekend was running the number on DVC for my sister..
    And about died when he realized how much money we could have saved on those 6 vacations..

    Now words of warning..
    1st of all on our 6 trips we stay at mod. our last two trips and but only value before that.
    It was during those last two trips (at mods) we realized we would never want to go back to the values..
    So if you don't mind the values, or if that's the only placed your stayed.. I don't recommend you buy in..

    2nd of all your kids are little now, but are you sure when they are teens they will like Disney?
    Will you able to take them out of school should they not be able to go when they have school breaks?
    Do you like to go during those school break times? Cuz that maybe the only time you can go if the school gives you hard time about days missed or the make up work is to much for your kids.
    Could you and your wife enjoy Disney on your own?? If this is no.. Then I defiantly would not do it!!

    Also I don't agree with financing any more then $5,000. And having a plan to pay the off within 5years.
    Disney is asking 10% interest if you have PREFECT credit..
    Add that with annual dues that increase yearly.. It can bankrupt you..

    And this is all before, tickets, food, flights, extras???

    If you don't have the money don't don't DON'T do it..
     
  19. cubsblue

    cubsblue Everything's Ducky

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    All I can say is, we just jumped in and I wish I had done it 8 years ago when we took the tour and the kids were 8 and 10 or even sooner.
     
  20. Dean

    Dean DIS Veteran<br><a href="http://www.wdwinfo.com/dis

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    You've gotten some info. Personally I wouldn't buy if you have to finance, just save up so that DVC will be blessing and not a curse. I'd spend 6 months investigating so you can learn enough to make a rational decision and get over some of the emotions you're having today. There are potential options for financing resales but they are even worse than DVC's rates or they tie up assets that increase your risk.

    We share our timeshares but we just schedule and invite them. We'll have six 2 BR units for a week this summer in HH at the top Marriott there. Did the same last year and had our best vacation ever with many other trips that were great, all the large family ones top our list. I don't expect them to pay, only behave and make a single family meal together. After that they can do as much or little as they want as I try really hard not to control other people's vacations.

    Do not buy to exchange, no guarantees, too little availability and too much risk.
     
  21. Deb & Bill

    Deb & Bill DVC-Trivia Contest, Apr-2006: Honorable Mention

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    If you do a comparison to see when you might break even, use the price you've already paid, not rack rate for a DVC villa. Because if you didn't pay rack rate for a DVC villa before, you probably wouldn't pay it in the future. Even members don't like to pay rack rate for DVC. If we need to add a night, I'll look at AP rates, Disney VISA rates for a moderate for a night or two. Or see what bargain I can get, even try for Swan and Dolphin.
     

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