AAAHHH!!!!! Help me please!

[flipflopmom]

We just got back Sunday from taking our girls for their first trip, and I miss my castle and mouse already! We stayed at Pop, which was fine, but honestly, we hated the whole bus thing. We went really commando, so we weren't there much, and DH said never at that pace again! DH said next year (loved those words) lets try for monorail resort! On our honeymoon, we stayed at WL and loved the ease of commute from there. Guess we were spoiled. Wished we'd done a DVC tour, never took the time...

So, I am now trying to talk him into DVC. If I know we'll be back for many years to come, we can slow down! For now, dealing with a stroller, BLT makes the most sense to use (don't have to fold it to get on monorail!) We would want to hit WDW at least EOY, more like every year, with maybe a more relaxed trip to HH thrown in the off years. Mostly traveling in summer, since I am a teacher. (Never again in July - tour groups me!) We have a 9 year old and a 2 year old. I think a studio will be okay. Honestly, we would have to cut out some splurges to make it work financially, so we would try to buy in at 160 and then add on points later if we want to move up or try a different resort once the stroller days are behind us.

Is now the time to buy? I've read research for 6 months, but will that cause our price to go up (around 2K for 160-200 pts) b/c of incentives? With just getting a studio size, would we be better off to just book a MYW package at Poly or somewhere and forgo DVC? We wouldn't be able to cook or anything, so we would still have to buy a dining plan, we would still have to buy park tickets... Not sure if it is a good financial decision - I see it more as insurance that DH has to take me to WDW! I know in 10 years, if we finance that long, the initial buy in will be taken care of, so it will be good then...

Also, something I haven't learned yet is how the contract thing works. I've seen numbers like 2047 thrown out. What happens then?

Sorry for the book, just trying to give as much info as possible so you can guide me!

 

[chalee94]

Is now the time to buy?

Also, something I haven't learned yet is how the contract thing works. I've seen numbers like 2047 thrown out. What happens then?

now is a good time to buy. but if the economy stays in the tank, prices may get better. (especially for resales.)

if it's a financial stretch to make a long-term commitment to the mouse and you would need to finance, i don't know that i would recommend it...but it's up to you...

also, DVC is primarily a prepaid plan for stays at DVC resorts. so in 2042 for most of the DVC resorts, your contract will expire and the value will go to zero. (SSR expires in 2054, AKV expires in 2057 and BLT expires in 2060. OKW is a little more complicated.)

here is basic info on DVC.

here is current pricing for contracts purchased directly. you will find a link to resale contract listings in the top righthand corner of the screen.

here is a link to historical annual dues for the different DVC resorts.

here is a thread for choosing a home resort.

and if you get serious about buying and are ready for slightly more advanced information:

here is a thread for understanding use year.

 

[Chuck S]

Contracts at BLT expire in January 2060. At that time your DVC ownership simply ends. OKW, BWV, BCV, VB, and HH all end in January 2042, exxcept OKW extended contracts, which end in 2057. SSR ends in 2054, and I think AKV nd in 2057.

Legally, at that time, the resorts revert back to Disney to do with as they please, unless they extend the ground lease with DVC (as in the case of OKW). Dinsey can tear them down, resell memberships, convert them to cash resorts, or sell the entirely to another operator...who knows what the Disney corporate philosophy will be at that time?

At one time Disney (pre-Eisner) was trying to get out of the hotel business all together, wanting to contract everything out to other operators. That is one reason we have the Swan and Dolphin on Disney property, but they aren't Disney hotels.

 

[flipflopmom]

Thanks Charles! I'm actually only an hour from you, in VA. My dad is having major surgery at Forsyth next week.

I've read most of that in the last 24 hours, but didn't really realize that contracts just expire. When it does, are there any options for renewing at a cheaper rate, or do you just start over? I'm 33, so if we bought into BLT, I would be 84. My girls might want to continue it..

And as for UY, that whole thread made me want to vomit! I didn't get it at all, but I am thinking that we would want a Feb. UY for mostly June vacations, with maybe a few fall and/or Christmas, especially after the girls get older????

We would have to finance , but we would work hard to get it paid off quickly.

If we only went once a year, would buying park tickets from somewhere like UT be best, or are there discounts for DVC members? Not really sure if APs are cost effective for going once a year?? Also, are there any discounts on the dining plan itself?

 

[Sandisw]

Thanks Charles! I'm actually only an hour from you, in VA. My dad is having major surgery at Forsyth next week.

I've read most of that in the last 24 hours, but didn't really realize that contracts just expire. When it does, are there any options for renewing at a cheaper rate, or do you just start over? I'm 33, so if we bought into BLT, I would be 84. My girls might want to continue it..

And as for UY, that whole thread made me want to vomit! I didn't get it at all, but I am thinking that we would want a Feb. UY for mostly June vacations, with maybe a few fall and/or Christmas, especially after the girls get older????

We would have to finance , but we would work hard to get it paid off quickly.

If we only went once a year, would buying park tickets from somewhere like UT be best, or are there discounts for DVC members? Not really sure if APs are cost effective for going once a year?? Also, are there any discounts on the dining plan itself?

I know how overwhelming it can be as I just became an owner this winter. We bought at BLT because we love the ease to MK, our favorite park.

I am also a teacher and will be vacationing in the summer (August). Our plan for passes, even though we are a once a year family is to buy the AP and just vary our trip by a week. This year, we are going August 5th through the 12th. Next year, we are going July 31st - August 6th. This way, we get two trips out of one pass. We won't renew and just buy new in 2011 and start the two year cycle all over again.

As far as UY, you may want to consider April, instead of Feb. Ideally, you want to travel in the first 8 months of the UY so if cancellation has to happen 31 days in advance (if you cancel with less than that, points go into holding and they can then only be used for vacations booked 60 days or less in advance) you can still bank the points. It also gives you to use up any points from cancelled vacations that are borrowed as once you do that, you can't put them back.

With April, you would have until November 30th to bank points, so even your December trips would be covered.

Just a reminder that UY has nothing to do with when you can book your trips. You can always book a trip 11 months in advance from check in at your home resort (7 months at the others). As long as the points you need for that vacation are available at the time of travel, you can book your trip.

Good luck!!

 

[chalee94]

Thanks Charles! I'm actually only an hour from you, in VA. My dad is having major surgery at Forsyth next week.

sorry to hear that.

I've read most of that in the last 24 hours, but didn't really realize that contracts just expire. When it does, are there any options for renewing at a cheaper rate, or do you just start over? I'm 33, so if we bought into BLT, I would be 84. My girls might want to continue it..

OKW owners were offered a chance to extend their contracts from 2042 to 2057 for $15 per pt or so. BLT owners may get the same opportunity at some point or they may not. hard to say...50 years is a long time...

And as for UY, that whole thread made me want to vomit! I didn't get it at all, but I am thinking that we would want a Feb. UY for mostly June vacations, with maybe a few fall and/or Christmas, especially after the girls get older????

if june/fall/december are your main travel dates, then you'd ideally want a june UY.

a june UY would only be an issue if you wanted to travel in march - may. if you never have to cancel, then UY would never be an issue at all (except for when your banking window closes.)

If we only went once a year, would buying park tickets from somewhere like UT be best, or are there discounts for DVC members? Not really sure if APs are cost effective for going once a year?? Also, are there any discounts on the dining plan itself?

UT would be your best bet. the AP discount is the only thing going for DVC members right now (and that could always change). no discounts on the DDP unless you count not having to buy a package with tickets to get it.

 

[njtinkmom]

Hey we were at WDW the same time as you! Those groups were very scary (Yellow, Green, White ) Anyway we bought at BLT and got Feb. points already and will get our new points next Feb. Which I think is a perfect use year since we are mostly summer vacations also, with the kids in school. We financed and will use the tax write off -so that is a good thing! I too like the idea of having to go to Disney every year don't want to let those points go to waste! And maybe even through in a quick getaway with me and hubby - definately a good thing!

 

[wheelcap]

Hey flipflopmom . . . I'm surprised nobody has suggested it yet, but resale can save you some huge money. Especially since you're concerned about the finances involved with DVC, it may be a better way to go. The basic price through Disney requires $99 per point or better, even with a discount -- and they require at least 160 points minimum. Through resale, though, you can get a smaller point contract (say 50 or 75 points) for $70-75 per point (maybe less), making the initial buy-in MUCH less expensive. Finance it through your bank to get a better rate than Disney. Bank one year's points to combine 2 years' points to cover a decent vacation in a studio. It'll be much cheaper for you, yet you can still enjoy the magic of Disney!! Plus - you may be helping somebody whose having financial issues and has to sell the points.

 

[chalee94]

Hey flipflopmom . . . I'm surprised nobody has suggested it yet, but resale can save you some huge money.

BLT is tough to get resale and usually is about as expensive (or more) than buying direct.

it is a great option for other resorts, though.

 

[clutter]

Ah, I remember when the DVC bug bit me. We'd stayed at the Beach Club. At $200/night with a big AP discount, I fell in love. So I checked out the board sponsor and bought 130 points. That's plenty for a studio week most times of the year. (However, we DID go annually, so I was planning to use it every year.)

Then they built AKV. Well, AKL was a favorite of ours, so you know, 30 points was plenty to stay there for a week every third year. (Bank, borrow and use every third year.)

The best thing about a resale is the fact that there's no minimum. You could buy 50 points at OKW for maybe $4,000 or so and go every three years. Then you can add on as you see fit down the road. Or not.

And yes, we actually love OKW. There's a lot less walking between bus and room and the rooms are much bigger. (We also love BCV, and we will love AKV come August. We also love CBR and ASSports and POR and others!)

 

[dvc_john]

Not really sure if APs are cost effective for going once a year??

But if you go once a year, you can get 2 trips out of 1 AP. For example, 1st year go the last week of June and get an AP. The next year, go the 3rd week of June, and use the same AP.

 

[bookwormde]

One thing to remember is that where you want to stay now (near MK), may not be where you want to stay in 10 or 20 years.

If you do not have cash to buy in you might be better to buy say 70-100 points resale (OKW, SSR or for a little more VWL for about 5-7k if you take your time shopping) and just do weekday DVC points and book DVC discount cash or CRO on the weekend to “get your feet wet”. Once you have a contract (and the extra cash) you can always add on. If you are diligent at 7 months you have a reasonable chance of getting into BLT during the summer so while it is good to “buy where you stay” if you are just starting out with a small contract it is not a must as you may not fully know what will be best for you in the longrun.

As for tickets APs will not do much for you now but if you can do “stagger vacation” (we do August and June the following year so we get 2 years vacations on 1 AP) it is a big savings. Be ware as you stop the commando touring and spend more time at the resorts you will likely end up moving up to a 1 or 2 br, which of course will take more points, but you save tons on food since you have a full kitchen (not to mentions a W/D).

Take your time and get well informed and take it slow so you do not have regrets.

bookwormde

 

[rentayenta]

We just got back Sunday from taking our girls for their first trip, and I miss my castle and mouse already! We stayed at Pop, which was fine, but honestly, we hated the whole bus thing. We went really commando, so we weren't there much, and DH said never at that pace again! DH said next year (loved those words) lets try for monorail resort! On our honeymoon, we stayed at WL and loved the ease of commute from there. Guess we were spoiled. Wished we'd done a DVC tour, never took the time...

So, I am now trying to talk him into DVC. If I know we'll be back for many years to come, we can slow down! For now, dealing with a stroller, BLT makes the most sense to use (don't have to fold it to get on monorail!) We would want to hit WDW at least EOY, more like every year, with maybe a more relaxed trip to HH thrown in the off years. Mostly traveling in summer, since I am a teacher. (Never again in July - tour groups me!) We have a 9 year old and a 2 year old. I think a studio will be okay. Honestly, we would have to cut out some splurges to make it work financially, so we would try to buy in at 160 and then add on points later if we want to move up or try a different resort once the stroller days are behind us.

Is now the time to buy? I've read research for 6 months, but will that cause our price to go up (around 2K for 160-200 pts) b/c of incentives? With just getting a studio size, would we be better off to just book a MYW package at Poly or somewhere and forgo DVC? We wouldn't be able to cook or anything, so we would still have to buy a dining plan, we would still have to buy park tickets... Not sure if it is a good financial decision - I see it more as insurance that DH has to take me to WDW! I know in 10 years, if we finance that long, the initial buy in will be taken care of, so it will be good then...

Also, something I haven't learned yet is how the contract thing works. I've seen numbers like 2047 thrown out. What happens then?

Sorry for the book, just trying to give as much info as possible so you can guide me!

Bold is mine and that's exactly how I feel. Good luck in your decision!

 

[DVC Mary]

Hey flipflopmom!

We have a Feb use year & usually travel in June.

You know I'm a too & try not to go in July, although we did do one that ended w/ the 4th of July. Despite the crowds it's something worth doing at least once w/ older kids.

Financing isn't a big deal--especially if you can get a home equity loan/or other loan to pay if off w/ at a lower rate and then do your plan to work hard to pay it off. Remember it's kind of like buying a vacation/2nd home. Most people have to finance at least some of those. Now if you're already in a lot of other debt, then it's probably not a great idea.

IMHO:

If you carry "good debt," which most people define as house, car, school debt which is normal then as long as you can afford all your monthly payments w/ room for all your expenses this is still an investment. You can sell your DVC some day, although only a very small % of us ever do. It's nice to know that you can sell it if you needed to & you can rent/transfer some points if you need cash. The year my DH got laid off, a good DVC friend bought points from me & I transferred them to her account. It was a good deal all around b/c she was cash rich & points poor for her Adventures by Disney trip she wanted to take.

When you're 84, they can afford to buy their own DVC but I know how you feel. I want to add points just go get a contract that will take me into my 80s, not my 70s.

No discounts on the dining plan, but you get a $100 of APs.

 

[Greysword]

Welcome and sorry to hear about your dad. I hope he does ok.

Most of your questions have been answered, so I'll give our experience with financing. We really like it, and financed both our SSR and our recent BLT/GCV purchases.

Although the rates are relatively high (10%), they are lower than many credit cards or other signature short term loans. Since Disney is the lender, the loans do not appear on our credit report, thus it hasn't affected our debit to income ratio for other transactions. The minimum payments for a 10 year loan is fairly low (between $100 and $200 per month), but we can repay the loan early with no penalty, I believe.

Owning DVC has slowed us down quite a bit, and we enjoy the parks at a more relaxed pace with the confidence of knowing we'll be back to enjoy the rest soon. However, we quickly fell in love with the 1 bedroom (space, full kitchen)! It saves us quite a bit of money on food and we can afford the room with our 165 SSR going every 1-1.5 years. Also be warned, owning DVC does not eliminate the bus, especially if you stay in AKV, OKW or SSR. A noce villa to come back to makes it worth it, though.

Good luck, and I would recommend you call a DVC Guide, since you are genuinely curious. Maybe a quick weekend trip to WDW could be in order to "personally see" the options?

 

[Crystal_27]

We stayed at Pop, which was fine, but honestly, we hated the whole bus thing. We went really commando, so we weren't there much, and DH said never at that pace again! DH said next year (loved those words) lets try for monorail resort!

First of all, you will see that the more and more that you visit Disney, the less hectic your trips will be, and they will actually become a vacation. Our first trip with DD in 2007 was a Land/Sea package (3 days at the parks/4 on the ship) and it was a rushrushrush trip that I never want to experience again. With DVC, now I know that we'll be back every year, so I don't feel so pressured to try and fit everything in.

We bought into DVC in March, 2009 after reseraching DVC for many years. Our one drawback was that we liked to stay at the Poly, and we hated that, before BLT, there weren't any monorail resorts available. With BLT, we knew that we finally had a perfect DVC fit. So, yes, staying on the monorail will be a breath of fresh air for you after the busses at the Pop.

That said, as to whether or not now is the time to buy, the answer all depends on your situation. Incentives for BLT (which is what I'm assuming you're interested in given your post) are not as strong as they have been in the past right now because BLT is selling quite strong, despite the economy. However, the incentives stil are good for BLT, and the difference in incentives from now and a couple months ago are only a few dollars per point. And, it appears at least right now from the limited listings of BLT on the resale market, that prices through Disney are actually cheaper. And, about your concerns about a studio, I think that it will work fine given the ages of your children.

It sounds like you are on the right track about debating on whether DVC is the right fit for your family. Good luck!!

 

[gray52]

Just remember... the stroller thing will only last a few years and your contract is for 40-50, so i wouldn't put too much into that.
Sorry, but our theory is... if you have to finance a luxury item, you can't afford it. We paid cash for our points, which is why we bought re-sale (Old Key West). I know most say "Buy were you want to stay." But we went with the theory that you can't go wrong with any of the "on property" resorts... and that Old Key West would offer us a vacation spot even if we decide not to do the parks every day... you'll never get that at BLT.
And we did get BLT at the 7-month window (January).
I'm not a BLT hater... we're (me, DW, DS5 and DD3) super pumped to be staying there in January, in fact. We're thinking more long-term and for that, I just think that your money is better spent at one of the other resorts on re-sale.

 

[Sandisw]

Just remember... the stroller thing will only last a few years and your contract is for 40-50, so i wouldn't put too much into that.
Sorry, but our theory is... if you have to finance a luxury item, you can't afford it. We paid cash for our points, which is why we bought re-sale (Old Key West). I know most say "Buy were you want to stay." But we went with the theory that you can't go wrong with any of the "on property" resorts... and that Old Key West would offer us a vacation spot even if we decide not to do the parks every day... you'll never get that at BLT.
And we did get BLT at the 7-month window (January).
I'm not a BLT hater... we're (me, DW, DS5 and DD3) super pumped to be staying there in January, in fact. We're thinking more long-term and for that, I just think that your money is better spent at one of the other resorts on re-sale.

But remember, if someone continues to go to WDW yearly, paying cash for their trips, then the lines for financing become blurred. I do agree that everyone needs to look at their own situation and know what they can afford, but any vacations are, in and of themselves, luxury.

That was us. We have been spending between $2000 - $2500 cash per year for the room portion to visit WDW yearly. Had we not bought in at BLT, we would continue to do this and at the end of the day, have nothing.

That is what I used that to decide whether or not DVC made sense for us. I was not necessarily looking at whether or not I was going to save a lot of money, but rather, what I would gain for the same yearly cash outlay.

Now, I get the same trip each year and end up with a 1 bedroom instead of a hotel room at CR. As it turned out, I didn't need to finance through Disney. Between my Disney Visa and another source, I will have it all paid off by next winter, so at some point, there could even be a "savings".

I guess, for me, whether you pay finance charges, or you pay cash for a room, makes not difference, as long as they are figured in when someone is making their own decisions.




.

 

[Rlbren]

Nothing like a stay at a value resort to push you over the edge to purchase DVC. That's what finally put us over. We now have 385 points between AKV and BLT. My husband and I spent a week at All Star sports last year and I said "no more." The buses and crowds were awful. we bought DVC before we even left property. Good Luck with your decision.

 

[flipflopmom]

Well, after literally 6 hours of sleep since Sunday, reading everything I could get my hands on, we decided that BLT was for us! We definitely will be putting it to use, with HH as an off year break every now and then. We have some really good friends with a lot of common interests that we talked to that are DVC, and that really pushed us over the edge. It's like I told DH, we have a great cross sampling of opinions here, and that really helped. Sometimes, though, hearing it from lifetime friends solidifies things. Yes, making another financial committment in this economy is scary, but I am learning that life is short and to be enjoyed, so we bit the bullet. The papers should be on their way soon! Now, just getting DH to sign them.