Lots Of Questions About Dvc!!!

[tbickford]

My husband and I are almost ready to purchase a resale DVC. We are leaning toward OKW because we like the atmosphere and maintenance costs. Why is the maintenance costs so much lower than all other vacation resorts? Is it because it is the oldest? Is their any chance that the maintenance will ever go up? Are there any state taxes or other assessments? Will the weekly point rate ever increase on your home? What about points on other DVC locations, will they increase? In other words, say we buy in at OKW, and currently it would costs 104 points to use at the BWV for a week in value season. Will that rate increase in the coming years since it would not be my home? When are the maintenance fees due? What restrictions apply when you bank or borrow points? Where is a sample of a contract so we can better understand the policies, the do's and don'ts!!
Disney has first right of refusal on all DVC sales. What is their maximum amount paid per point when purchasing back a DVC.

We are planning a trip in 2002 (Nov 22 to Dec 3). We are travelling with our twins age 3.11. If you have any suggestions or recommendations, please advise.

 

[PamOKW]

Thickford -- Lots of questions -- but they are all the right ones.

Have you looked at this info DVC FAQ ? That can help answer some of them. I'll tackle a few and others will probably jump in soon, too.

The maintenance at OKW is probably less because of the way the resort is built. They do not have to maintain the interior hallways and other "hotel" type costs. Much of the landscaping costs are cut too because the golf course is the landscaping. The pools also do not have slides or lifeguards. Maintenance fees have been regulated very well over the first 10 years. There is no reason to expect any drastic increase. By law, they can't go up more than 15% in one year. The real estate taxes are included in the dues. Dues are made up Maintenance Costs, money put into the Capital Expenditure budget and the real estate taxes. Dues are payable in January of each year. You can arrange to pay them monthly (with no interest charge) by direct debit from your account.

The total amount of points at each resort can't change. They can make adjustments. If they do, one season would go up but another would have to go down. A minor adjustment was made at OKW in the early years. No other changes have been made. Points at DVC resorts are the same whether or not it is your home resort. Currently, you have a 3 month period to book at your home resort when owners from other resorts can't compete. (This is the 11/7 month rule everyone talks about.) It is possible for this advantage to be reduced to as little as 1 month at the home resort. DVC floated a balloon on this a few years ago and it appears to have been shot down.

The points needed for non-DVC trips, including Disney hotels and cruises, can fluctuate as DVC deems necessary.

There are a variety of circumstances for banking and borrowing. Deadlines for the amount of points you can bank. You can also only bank forward one year (can't keep re-banking). Once banked or borrowed points cannot be "put back" to their original Use Year.

Well, there's a start on some of your questions.

 

[BillPA]

Welcome to the DIS boards. You will find lots of good info here. Ask away, we all enjoy sharing what we know about the DVC.

In your question, you talk about buying at OKW as then ask about points at BWV. In general the 'rule' is to buy where you plan to stay most. The extra 4 months booking advantage is very important if you want to stay at the popular times, and BW fills up quickly. If you plan to stay more at the BWVs, look into a resale there.

Pam has answered your other questions, if you have more, post them.

 

[kem330]

First I would recommend you take the time to read the FAQ and read as many posts on this forum as you can. That's the best way to get information. I'll try to address your questions
1. OKW is older and much larger so perhaps that keeps the maintenance fees down- more owners to share the cost- that's just my guess
2. Maintenance fees can go up 15% /year but so far there have been very small increases and some decreases. Dues are payable in Jan or can be deducted monthly by auto pay with no service charge.
3. Total # of points for the year can never be changed at any DVC resort, but can be redistributed. If points go up at a certain time, they have to be reduced an equal amount at another time. Premier season floats with the holidays each year. Points are the same whether it's your home resort or not. The only difference is your ability to book at 11 months ahead vs 7 months at the non- home resort.
4. Banking and borrowing: 100% may be banked before 6 months into your use year, 50% of total years points before 9 months into you use year and 25% before 10 months into use year. Borrowing may be done one year ahead of your use year date- So you may book a vacation up to 11 months in advance based on points available at the time of your visit, and borrow from the next use year as well. With a Dec use year, I could bank my Dec '01 points into Dec '02, visit anytime Dec 1, 2002 - Nov 30, 2003 using my Dec '02 points + 01 banked points and borrow my Dec '03 points as well. Borrowed and banked points must be used in the year they are moved to they can not be put back to their original year.
5. Rumor has it Disney will buy back points around $58/point or less
6 You may have trouble getting in Nov 22 - Thanksgiving and early Dec are peak DVC travel times. I'm not sure what your family size is- you say twins ages 3 . 11 Do you mean 3 years, 11 months or so you hae twins and another child? You will need a 2 BR if you have 3 children and 2 adults