A few Pre DVC Questions

[BassCatP4]

We are going on the Disney Fantasy Cruise here in May. I have told the wife we will be coming home as members of the DVC. She knew this when we booked the cruise last spring. We are doing a post cruise and staying at the All Star Movies for a few days. We have about purchased the DVC many times but seem like it something happens or we get side tracked. We have some question as to the whole ownership and been reading up. We know that we will be cruising as long with going to WDW. We have a few or lot of questions,

1) Do you buy for cost of points or home resort?
2) How can you request your resort?
3) Can we use our cruise or post cruise cost for our down payment?
4)What are good incentives currently?
5) I have read to split up the contract so when the wife and I are pushing up dandelions, it is easier to split up for the kids to take it over?
6) Are there any other heads up as we go thru this?

Again, Thanks for the Help,
Eric

 

[chalee94]

1) Do you buy for cost of points or home resort?

depends on which is most important to you. the general consensus is to "buy where you want to stay" or at least where you don't mind staying (so long as you can book 10-11 months in advance.)

i am happy to stay at OKW but i purchased there primarily because the upfront costs and annual dues are relatively low. the 2042 expiration date works for me as well.

2) How can you request your resort?

you can book at your home resort at 11 months out - and then try to switch to another resort at 7 months if there is availability.

if you are asking about buying, DVC still has pts at the "sold out" resorts but you would have to push a little to get them to sell those to you. the prices would still be considerably higher than resale, though.

3) Can we use our cruise or post cruise cost for our down payment?

no.

4)What are good incentives currently?

if you are concerned about price, you should be looking at resales. prices for SSR are great if you are just happy to be onsite at wdw.

remember that if circumstances changed and you suddenly needed to sell for some reason, you would still be selling at resale prices regardless of how you bought in.

5) I have read to split up the contract so when the wife and I are pushing up dandelions, it is easier to split up for the kids to take it over?

that is a good option, yes. (assuming the kids want the contracts.)

6) Are there any other heads up as we go thru this?

i'd recommend taking off your may "deadline" and doing some additional research. take some time to do some research on the DVC forums and learn about "use years" and whether DVC really fits how you vacation (are you a planner? are you ok with limited housekeeping? are you sure you won't burn out on disney, as DVC costs continue whether you travel or not?)

remember that it's a long-term real estate commitment costing thousands. don't get too much pixie dust in your eyes about being a "member of the club" or "owning a piece of the magic."

 

[DVCconvert]

To the OP, This:

i'd recommend taking off your may "deadline" and doing some additional research. take some time to do some research on the DVC forums and learn about "use years" and whether DVC really fits how you vacation (are you a planner? are you ok with limited housekeeping? are you sure you won't burn out on disney, as DVC costs continue whether you travel or not?)

remember that it's a long-term real estate commitment costing thousands

is good advice. Meaning no disrespect, but from some of your questions, I think you would benefit from more research before making a buying decision.

HTH

 

[BassCatP4]

i'd recommend taking off your may "deadline" and doing some additional research. QUOTE]

Something that I left off, that we have looking into DVC from 2008. So, it is our thing. Now we are dotting our i and crossing our t's. If we do this I place a May time frame for us to make up our mind.

The wife loves the idea of BLT. Need to research the cost.

Eric

 

[DVCconvert]

BLT is now selling direct at $ 155 per point

http://dvcnews.com/index.php/dvc-program/financial/pricing-a-promotions

 

[chalee94]

BLT is now selling direct at $ 155 per point

for comparison, BLT resales go for about $100 per pt for a fairly loaded contract.

 

[bwvBound]

Something that I left off, that we have looking into DVC from 2008. So, it is our thing. Now we are dotting our i and crossing our t's.

Ah, but your questions come across as a very early-start newbie. I read your post aloud this morning to my husband and our first thought together, "Stop. Take 6 months of heavy reading and participation on boards like this one. Then proceed ..."

Out to anyone: Are there differences in the recession process buying while on DCL vs buying at WDW (during the OP's stay at All Stars)? I've heard the incentives are better on the cruise -- but are there associated drawbacks to buying on the cruise vs at WDW? (Yes, I'm completely setting aside the issue of full-frieight vs resale.)

Edited to add: Best wishes, OP, on your research. Even with a May goal, you have enough time to come up to full-speed. But do eat, sleep and breathe doing the research, ok? (It is crunch time! Exam ahead on the near horizon and you missed a few classes this past semester ... go hit the books/boards! )

 

[DVCconvert]

....
Out to anyone: Are there differences in the recession process buying while on DCL vs buying at WDW (during the OP's stay at All Stars)? I've heard the incentives are better on the cruise -- but are there associated drawbacks to buying on the cruise vs at WDW? (Yes, I'm completely setting aside the issue of full-frieight vs resale.)

I'm reasonalby certain the recession process/timeline remains the same. I assume that the contract is not legally executed untill your on the ground post cruise and that this is covered and governed by either the state law of FL or Del....good question.

 

[fijidoc]

I will say that if you are going to purchase through disney should do it on the cruise.

The deals on cruise are usually better than you can get elsewhere.

go to the meeting they have about DVC and talk to their representative. It is usually less costly per point. Still more than through resale but better than you get on land.

Although we did not purchase more points when on our last cruise, it was appealing due to the deal they could give on cruise that they couldn't on land.

We have 320 points total and did make it two 160 point contracts so could seperate between our two children down the road.

 

[bwvBound]

1) Do you buy for cost of points or home resort?
2) How can you request your resort?

#1 is highly debated. Many on this board favor the "Home Resort" purchase -- we did the opposite. We purchased SSR in early 2004 (before the resort was open) based on purchase price (w/in $10/point of BWV resales at the time); length of contract (first resort to offer full 50 years since OKW); and cost of dues (lower than our desired BWV). In the 12 years of ownership, we've stayed at SSR only twice and have been extremely successful using the DVC points at other DVC locations: Boardwalk Villas, Vero Beach, OKW, Wilderness Lodge, Animal Kingdom Lodge (Concierge!), Grand Californian and Aulani.

However -- it is essential to evaluate your travel intentions as a factor in your choice of home resort. We purchased with one goal: Boardwalk Villas in late-January-every-year-for-a-conference. The late January time period is NOT difficult to book at the 7 month window for this property. I'm sure I'd be outta luck if I expected to book Boardwalk Villas routinely for visits in October! If your travel windows will be driven by school holidays -- you'll likely need/want to book using the 11-month window.

#2 - Resale options include nearly all resorts but you may have to wait patiently for the perfect combo of Resort + Use Year + Contract Size + Point Balance.

When buying direct from Disney, you'll be guided towards the resorts that Disney is currently selling. You can request one of the "sold out" locations from Disney -- but this path will likely require a deposit upfront just to be added to a waitlist.

5) I have read to split up the contract so when the wife and I are pushing up dandelions, it is easier to split up for the kids to take it over?

A given contract cannot be split after initial purchase. The contract remains "as is" when transferred between family members or is sold through resale. Buying multiple smaller contracts under the same master account is a helpful tool if you later need to downsize your total ownership or wish to transfer a contract to an heir.

6) Are there any other heads up as we go thru this?

Be sure to give thorough consideration to the "full-frieght vs resale" question. There are pros/cons on both sides -- but it could save you thousands on your purchase.

Be sure you fully understand Use Year (UY) and how it plays into banking, borrowing and transferring points. Write out your intended travel schedules, frame them carefully into a "best UY" target and then go back and REVIEW the rules of banking/borrowing to verify your target UY.

Add "cancellation policy" to your list of understanding. Go back and review impact of canceling a reservation to your target UY. Did you also grasp the terms "Holding Points" and "Reservation Points"? If not -- go back for a quick review.

Review the historical Maint Fees of the various resorts. (There is a link here somewhere that shows the maint fees from all DVC resorts in a single table. Very handy!)

Be truthful with yourself and your family on how you envision using your DVC: DVC resort stays? exchanging through RCI? access to BVTC destinations? ABD? DCL? Poly Club Level? Look up the related costs for each way you hope to use DVC and determine if it is a "good value" for your family. Do compare against cash rates and other methods (discounts) you might have available to accomplish the same end goal.

... Have fun and happy research!

 

[Dean]

I'm reasonalby certain the recession process/timeline remains the same. I assume that the contract is not legally executed untill your on the ground post cruise and that this is covered and governed by either the state law of FL or Del....good question.

Per FL law it would be the latter of 10 days from the date signed or 10 days from when all required documents were provided, which ever is later. Not sure about SC, CA or HI.

We are going on the Disney Fantasy Cruise here in May. I have told the wife we will be coming home as members of the DVC. She knew this when we booked the cruise last spring. We are doing a post cruise and staying at the All Star Movies for a few days. We have about purchased the DVC many times but seem like it something happens or we get side tracked. We have some question as to the whole ownership and been reading up. We know that we will be cruising as long with going to WDW. We have a few or lot of questions,

1) Do you buy for cost of points or home resort?
2) How can you request your resort?
3) Can we use our cruise or post cruise cost for our down payment?
4)What are good incentives currently?
5) I have read to split up the contract so when the wife and I are pushing up dandelions, it is easier to split up for the kids to take it over?
6) Are there any other heads up as we go thru this?

Again, Thanks for the Help,
Eric

I think one should consider cost and how they'll use it. If one must have a specific high demand location or unit type, you should likely own at that resort at least for part of your points. Regardless, I'd go resale for anything that's possible, assuming you can save enough money and you can for BLT. You lose nothing of consequence buying resale. IMO, one should buy the cheapest on property resort they're happy with assuming WDW is the goal. Generally that's SSR when you consider the expiration but could be OKW. AKV and BWV are also good values due to the standard view and value options as well as the 1 BR sleep 5 at AKV (and BLT). Now if one would prefer GF, might as well either wait and buy early retail or buy some points now and do an add on there when it's available. Unless one is buying a lot of points, the higher costs (extra closing costs) of buying 2 resorts over 1 doesn't make sense. The exception might be with one higher cost resort and one lower one like part at SSR and part at BLT. Buying two 150 points BLT contracts resale vs 1 300 pt contract will likely cost around $10 a point more in total, roughly an extra $3K.

The only way to recoup any of the costs from upcoming stay would be to buy now and do the post cruise stay on points. Realistically that means going retail. If your mind is made up in general, I'd make plans now for resale so you can be closed by around your trip time. I would not finance.

 

[BassCatP4]

Thanks to all for your concerns with our timing. By no way we feel blasted with our May timing.

Our plan is to buy around the 160 points. We will be traveling every other year via banking points. Our travel plans will be to go to WDW, Cruise, and Hawaii. I know we do not want our home to be in Hawaii. There maybe a few times we will bank, borrow, and bring the whole clan down (Extended Family) and get a two bedroom. The wife read that just going thru the DVC via the cruise; we will get 300 on board credit. If we buy, there is a 600 on board credit plus some other goodies. Over all we know were paying for this. Nothing is free.

We love the BLT location and it looks like the MF's are some of the lowest. The points are a bit more that SSR. I know I want location.

Once we try the shoe on and if it fits the way, we want it, there will not be a need for cancelling it. We both wish we bought years ago.

I will be going back thru the pointers that are listed. Thanks!!

Again, Thanks for all of your HELP. We do greatly appreciate it.
Eric

 

[disneynutz]

I suggest that you stay at some of the DVC resorts before buying. While home resort priority doesn't seem as important now, things can change in the future and owning where you love to stay guarantees your happiness for the length of your ownership.

BLT is one of the resorts that we own, along with VWL, (our MK resort), BCV and BWV, (our Epcot/DHS resort), and AKV, (our away from everything resort). We stay often at SSR and a few times at OKW and VB. We bought BLT bought before staying there, and it is our least favorite resort.

It has a great location if you love the MK and intend to spend most of your time there. Bell Services, restaurants, Front Desk, transportation, are all located at the Contemporary. The pool is under whelming and for us the building gives us the feeling of staying in a non-Disney themed high rise. The view of the MK is across a parking lot and all you can see is the top of Space Mountain and the top of the castle. Lake views include the inside of the "C" so you may be looking at another room across the way.

For us WDW is an escape and the theming of the resort plays a big part in our enjoyment. I can't speak for all owners but for many, as the newness of ownership starts wearing off and you have gone on the same attractions over and over, we tend to stop and smell the roses, sleep in, spend more time at the resort, cook in the villa, and take the time enjoy each others company.

Bill

 

[Lynne M]

Since it sounds like you're planning to use your points for DCL on a regular basis, you should add a couple of things to your considerations:

1) DCL only makes a limited number of cabins available for booking on points. You'll likely have more difficulty booking on points that you do on a cash reservation. For instance, I called in Sept 2011 to book a cruise with my points, and was told that there were no cabins available for points reservations on any ship or itinerary until Oct 2012. There was plenty of availability for cash bookings during that period.

2) DCL is an exchange option, not part of your ownership interest. Therefore, DCL can decide to change, sharply limit, or drop their participation in DVC altogether. At any time.

3) There are contractual limits on how the point costs per night for DVC resorts can change - in other words, you're not going to see the points needed for your stays at DVC resorts go up and up every year. There are NO such restrictions on the exchange options, and the points required for DCL are renegotiated every year. And go up every year. At some point, you're likely going to find that you no longer have enough points to cruise.

If you can live with what I've described above, and still plan to cruise regularly on points, be sure you take a look at a points chart for DCL before buying, to make sure you have enough points to cover your cruise, then do the math and see if you think it's a good value, compared to your costs for a cash booking.

You may find that you're better off just buying enough points to cover your DVC stays, and continuing to pay cash for your cruises.

 

[chalee94]

if your mind is made up to purchase directly, at least make sure you look at the cruise point charts to get an idea if that would be in the range that you expect.

and be aware that while the point charts for DVC resorts are fixed - in the sense of total pts for the whole resort for the whole year, not by individual night pt costs - the point charts for cruises and certain other trades out of the DVC system can change each year.

(dang - lynne beat me to it... )

 

[Dean]

Thanks to all for your concerns with our timing. By no way we feel blasted with our May timing.

Our plan is to buy around the 160 points. We will be traveling every other year via banking points. Our travel plans will be to go to WDW, Cruise, and Hawaii. I know we do not want our home to be in Hawaii. There maybe a few times we will bank, borrow, and bring the whole clan down (Extended Family) and get a two bedroom. The wife read that just going thru the DVC via the cruise; we will get 300 on board credit. If we buy, there is a 600 on board credit plus some other goodies. Over all we know were paying for this. Nothing is free.

We love the BLT location and it looks like the MF's are some of the lowest. The points are a bit more that SSR. I know I want location.

Once we try the shoe on and if it fits the way, we want it, there will not be a need for cancelling it. We both wish we bought years ago.

I will be going back thru the pointers that are listed. Thanks!!

Again, Thanks for all of your HELP. We do greatly appreciate it.
Eric

If you're thinking of buying to use the DVC points for cruising this is an especially bad and expensive idea.