Pros and Cons of buying a vero beach resort?

[mickeytai]

Our home resort is Saratoga spring. I understand that we will be able to make a 11-month reservation to our home resort but most of the time we use the 7-month and still be able to get the resorts that we want since our traveling time is usually not during high season. I am thinking of getting the same more dvc point and I realize that there are resale of Vero beach points for about $55-60/pt. It's definitely much lower than other resorts in Orlando area. i am hoping to get the same used year so I can use all the points I need when making reservation.

I understand that the due might be higher at Vero beach but is there anything I should consider when purchasing the same used-year contract as add on? any downside of buying a home resort which is not my favorite but due to lower price? Any advice is appreciated.
Thanks.

MickeyTai Family

 

[bwvBound]

I understand that the due might be higher at Vero beach but is there anything I should consider when purchasing the same used-year contract as add on? any downside of buying a home resort which is not my favorite but due to lower price? Any advice is appreciated.
Thanks.

Dues at Vero are much higher than SSR! Do the math on the dues and review the dues history: http://www.disboards.com/showpost.php?p=43070014&postcount=2

VB's dues are currently $7.75/point to SSR's $4.91/point.

 

[Dean]

Our home resort is Saratoga spring. I understand that we will be able to make a 11-month reservation to our home resort but most of the time we use the 7-month and still be able to get the resorts that we want since our traveling time is usually not during high season. I am thinking of getting the same more dvc point and I realize that there are resale of Vero beach points for about $55-60/pt. It's definitely much lower than other resorts in Orlando area. i am hoping to get the same used year so I can use all the points I need when making reservation.

I understand that the due might be higher at Vero beach but is there anything I should consider when purchasing the same used-year contract as add on? any downside of buying a home resort which is not my favorite but due to lower price? Any advice is appreciated.
Thanks.

MickeyTai Family

VB will cost you more in 7-10 years than will most any other option at WDW and you wouldn't have the 11 month option if you need it. The cheapest option long term will almost certainly be SSR but it could also be an opportunity to buy a higher demand option say BLT or similar.

 

[DenLo]

It is a risk buying at VB as it would be for any beach resort. Look at HHI and Aulani for comparison. The dues are high for a reason part of which is related to storm damage to their beaches and resorts and the threat of hurricanes. All it would take is one more hurricane going through causing a million dollars in damage and dues will really jump because the insurance coverage costs will skyrocket.

To me the only reason to buy at VB is to stay at VB. Otherwise over the years you pay so much in dues that the lower cost of purchasing is easily lost with higher dues.

 

[magicaldisney]

Another negative, if you consider it a negative, is less years left on a contract.

 

[chalee94]

I understand that the due might be higher at Vero beach but is there anything I should consider when purchasing the same used-year contract as add on? any downside of buying a home resort which is not my favorite but due to lower price? Any advice is appreciated.
Thanks.

i agree with the sentiments so far:

1) SSR has a longer expiration date, at 2054 compared to 2042 for VB.
2) VB has much higher dues and will cost more overall than SSR within a short period.
3) VB is on the coast and is the most likely DVC resort to get hammered by a coastal storm and require a "special assessment" (which would mean even higher dues).
4) the 7 month window at wdw is rarely an issue as you can usually get SSR anyway, but there might come a time when it would matter.
5) it's a smaller risk, but if any DVC resort is eventually spun off and removed from the DVC system, it would be VB...

if you can get VB pts for $20 per pt, maybe it's worth the risk. but in general, resale prices for VB are much lower for a reason.

 

[lovin'fl]

My DH was all about VB when he saw some contracts for in the $40s (a year ago or so). But when I pointed out that in 8 years or so we'd be caught up to any savings and then it would become more expensive (with the high annual dues)...he left it alone. We did buy at HHI for low $/point buy in...but we will use those points for trips to HHI and it's tough to book there at 7 months for warm weather trips. I'd only buy one of the beach resorts if I intended to stay there frequently.

 

[WebmasterDoc]

...
3) VB is on the coast and is the most likely DVC resort to get hammered by a coastal storm and require a "special assessment" (which would mean even higher dues).
...

VB has been "hammered" several times already and has NEVER had a "special assessment". While VB dues are higher, it is not due to storm damage - insurance has always covered the storm damage and the resort was even closed during the repair times (even offering villas to repair workers working on other resorts in the area).

Even without any history for "special assessment" at any DVC Resort (including VB), I would still suggest considering a purchase at SSR for the reasons already mentioned instead of a VB purchase.

 

[Cboyfanjoe]

I think if you have cash in hand and do not have to finance VB is ok to purchase if you don't care about the 11 month window. Sure after 7-10 years your paying more, but it depends on your financial situation. I recently purchased VB 150 pts for 7600 (50 per pt) and had the cash in hand. The best price I could find for SSR was 76 per pt and 150 would have cost me 11400, but I would have had to finance 3800, which isn't much, but it would still be an extra $70 plus a month with interest for 5 years. I figured it out w financing the extra $$ I would be paying less for VB for the next 11 years, after that I'll pay more, but in 11 years my financial situation will be even better then it is now so I'll be able to budget for and handle the little bit extra it will cost me. Access your financial situation before you purchase because saving $$ in the long term does you no good if you put yourself in a hole now.

 

[moreisgood]

Our home resort is Saratoga spring. I understand that we will be able to make a 11-month reservation to our home resort but most of the time we use the 7-month and still be able to get the resorts that we want since our traveling time is usually not during high season. I am thinking of getting the same more dvc point and I realize that there are resale of Vero beach points for about $55-60/pt. It's definitely much lower than other resorts in Orlando area. i am hoping to get the same used year so I can use all the points I need when making reservation. I understand that the due might be higher at Vero beach but is there anything I should consider when purchasing the same used-year contract as add on? any downside of buying a home resort which is not my favorite but due to lower price? Any advice is appreciated. Thanks. MickeyTai Family

We did buy a small contract at VB for several reasons. First, the lower buy in cost. And we'd like to visit VB occasionally , so our small contract will get us several summer nights in a 2 BR every 3 years. And if you want to go in the summer, you need to own there. And even with the higher dues, it's still better than paying $15 for one time use points when we run short for stay outside of WDW.

 

[Deb & Bill]

Our home resort is Saratoga spring. I understand that we will be able to make a 11-month reservation to our home resort but most of the time we use the 7-month and still be able to get the resorts that we want since our traveling time is usually not during high season. I am thinking of getting the same more dvc point and I realize that there are resale of Vero beach points for about $55-60/pt. It's definitely much lower than other resorts in Orlando area. i am hoping to get the same used year so I can use all the points I need when making reservation.

I understand that the due might be higher at Vero beach but is there anything I should consider when purchasing the same used-year contract as add on? any downside of buying a home resort which is not my favorite but due to lower price? Any advice is appreciated.
Thanks.

MickeyTai Family

What do you consider "high season"? DVC busy times might not be the same as what you consider to be high season.

From late September through early January, it can be hard to book at DVC resort (or at least some of them) at seven months out. The first week of Dec is the hardest time to book nearly anything. Plus Disney is always trying to fill up the less busy times with more and more activities that interest DVC members. More races (marathons, half marathons, ten milers, night runs), more events (Food & Wine, Flower & Garden). If your points are at WDW, you at least get to book there at 7-11 months out. But if they are VB, you have to wait until seven months and you might be piecing together a stay.

 

[JimMIA]

I am thinking of getting the same more dvc point and I realize that there are resale of Vero beach points for about $55-60/pt. It's definitely much lower than other resorts in Orlando area.

Not necessarily. From the ROFR thread:

OKW:
tiffrobyn---$59-$15,227-230-OKW-Dec-0/'12, 33/'13, 230/'14, 230/'15- sent 6/10, passed 7/7
R0cky---$58-$13,340-230-OKW-Jun-0/'13, 0/'14, 243/'15-sent 6/6, passed 7/8

SSR:
mort1331---$62-$13330-200-SSR-Feb-0/'13, 200/'14, 200/'15, sent 6/16, passed 7/15

Same price range you are talking about and WAY lower dues. AND...WDW home-resort advantage.

 

[DVC Jen]

We are waiting and hoping to pass ROFR on a 100 point contract at Vero. We love Vero and it kills me to have to borrow points from my next year to stay there. The price was right, the use year was perfect, we really like the resort and do go there every other year so for us even with the higher dues it is a win win.

 

[Pumbas]

If a tropical storm hits & does damage (as it has) the annual dues will increase more than normal. A tour guide once told me this & that is why VB has high dues.

 

[Dean]

And though VB nor HH have had a SA, it was discussed heavily after the 2 hits a few years ago. I'd also suggest that it's not necessary to have a SA to recoup extra losses. Just take the limitation on points reallocation and the method DVC worked around that limitation. One could do exactly the same thing with dues.

 

[DebbieB]

Even though they have insurance, I would bet it has a high wind deductible. I work for a major insurance company and Florida coastal is a big concern. There is also a clause in the contract that they would prevent you from staying at another DVC while the resort is closed for repairs. It didn't happen when they were closed for a month or so a few years ago but if there is major damage and they have to be closed longer, they could enforce that clause to keep the points system in balance.

 

[Dean]

Even though they have insurance, I would bet it has a high wind deductible. I work for a major insurance company and Florida coastal is a big concern. There is also a clause in the contract that they would prevent you from staying at another DVC while the resort is closed for repairs. It didn't happen when they were closed for a month or so a few years ago but if there is major damage and they have to be closed longer, they could enforce that clause to keep the points system in balance.

Actually the POS specifically says you can use your points at other resorts if closed for repairs. The only preclusion is if the section you own in (or entire resort) is not going to be reopened, you cease to be a member and your points are gone. You may get some proceeds from the insurance.

 

[ImTempest]

My husband and I are currently waiting to pass ROFR on a Vero Beach Resort contract. We originally had an offer at another DVC that fell through, thanks to the owners backing out of the sale, and it turned out to be a lucky break for us. The other DVC would have cost us $11680 to buy in, so we would have had to finance a portion of the purchase. Our VB offer is $4200 less, so we will be paying cash. The difference in MF came to $276.10 per year more for VB, and I will happily live with that. Plus, an 11 month window on the beach is not too shabby!

 

[DVC Jen]

My husband and I are currently waiting to pass ROFR on a Vero Beach Resort contract. We originally had an offer at another DVC that fell through, thanks to the owners backing out of the sale, and it turned out to be a lucky break for us. The other DVC would have cost us $11680 to buy in, so we would have had to finance a portion of the purchase. Our VB offer is $4200 less, so we will be paying cash. The difference in MF came to $276.10 per year more for VB, and I will happily live with that. Plus, an 11 month window on the beach is not too shabby!

We are in the same boat. Just signed the documents and faxed them back to the title company. I am going to cry if this contract doesn't go thru. Best of luck to you. I will keep my fingers crossed for you if you keep yours crossed for us.

 

[bcvlover]

My favorite DVC onsite resort is BCV....

But I also love the beach, so bought at VBR just to get the 11 month window.

I was having troubles getting spring break, or summer, at any room size, so for us it was a good purchase.

But I hope dues don't continue to go up... I am a little worried about that. (Hoping for no hurricanes / storm damage).

bcvlover