Am I crazy?

[Dean]

On all the resale websites BWV sell from $81 - $90 per point. SSR sells from $80 - $85 per point, so if I went through a resale, what you're saying wouldn't really go, but if the resale companies don't offer good financing then I'll end up paying a little more by going through Disney, probably around $3,600. more. Not to mention if I sell SSR for $75 per point I'll break even with what I owe, so I'll end up making a profit when I sell it.

Listing prices and actual sale prices are somewhat different. I think you'll find that the price after all said and done is in the range of 20 dollars per point different. But let's assume your numbers are correct. You would be looking at approximately a price difference of five dollars per point, A commission of approximately 8 dollars per point on the sale and somewhere around 500 dollars closing cost on the new purchase. Plus because of the way that fees are done on resales, you can easily lose 2 to 4 dollars per point there. That puts you up over 17 dollars per point difference.

 

[MissMet]

Listing prices and actual sale prices are somewhat different. I think you'll find that the price after all said and done is in the range of 20 dollars per point different. But let's assume your numbers are correct. You would be looking at approximately a price difference of five dollars per point, A commission of approximately 8 dollars per point on the sale and somewhere around 500 dollars closing cost on the new purchase. Plus because of the way that fees are done on resales, you can easily lose 2 to 4 dollars per point there. That puts you up over 17 dollars per point difference.

I see what you're saying.

 

[Mtnman44]

MissMet,

You sound fine to me! I have a 7 year old son. Are you willing to wait a few years to marry him?

Ooookay, I wasn't asking people's opinion on if they think I'm immature & impulsive, but you guys can judge me, I don't mind. Just let me know any ins or outs to what I'm planning on doing, because that was my purpose of this post & I feel we're getting a little off topic.

 

[MissMet]

MissMet,

You sound fine to me! I have a 7 year old son. Are you willing to wait a few years to marry him?

Only if he's a Met fan!

Thank you. I guess I get a little upset when I feel people aren't taking me seriously. I'm not like most 21 year olds & when I'm not taken seriously it annoys me. I work very hard to get where I'm at. I get up at 4am every morning to clean a local church to pay for DVC, in addition to my full time admin assistant job. I figure, while I wait for my prince to come I might as well invest my time & money into my future. I'm actually working towards the goal of paying off all 400 points I own in the next two years. I love the idea of marrying a guy & starting our life together with our vacations totally paid off (except maintenance fees) for really the rest of our lives.

I may have "21 year old" moments, but I really don't feel you can say I'm immature or impulsive. *not directed at Tinky99*

 

[byoung]

Dear MissMet

Save yourself the time and the bother. As soon as AK villas and the Contemporary villas open, you will more than likely find it MUCH easier to book at BWV. BoardWalk & Beach Club villas are just the most popular NOW and hard to book, but that WILL change in the next two years.

Mike BWV 1999

I agree here.

 

[kimberh]

So, I think fellow Dis's are taking you serious, You have made a serious financial commitment and we hate to see you lose any money... when you may just need to wait a little longer for another resort to open, or buy a small contract at BWV's and use banking and borrowing to make your reservations. You have been given some very good advice. Let us know what you decide.

 

[Mtnman44]

A young lady that already comes with 400 DVC points.....I wish I was single!!!

Seriously,

If I were you I'd just take a breather on DVC purchases for a while and see how it goes. I think people are right, there is a good chance that CRV and possibly AKV may lighten up some of the demand of the other locations...maybe.

Depending on when you travel, maybe you won't have much of a problem reserving at BWV...? If you find that you do have trouble, you can always sell SSR then and buy points at BWV. Sure BWV will probably cost more in a couple years, but SSR will probably be selling for more in a couple years also.

I'm actually working towards the goal of paying off all 400 points I own in the next two years. I love the idea of marrying a guy & starting our life together with our vacations totally paid off (except maintenance fees) for really the rest of our lives.

I may have "21 year old" moments, but I really don't feel you can say I'm immature or impulsive. *not directed at Tinky99*

 

[dianeschlicht]

First of all, my condolences to you, MissMet.... BOTH for being a Mets fan and for being obsessed with BWV!!! Sorry, but I think you do know how to take a joke, so I thought I could get away with that statement.

If you don't ever plan to stay at SSR and want to have the 11 month window at BWV, then you probably should change your ownership, but know that you COULD end up paying more for less. I do kind of agree with some things others have said about waiting until the market either comes up for SSR or down for BWV.

Are you mostly trying to book during competitive times at BWV? I'm thinking of the F&W mostly.

 

[Mule2007]

When you get married -- marry a man with 200 BWV points

Problem solved




Mule

 

[MissMet]

First of all, my condolences to you, MissMet.... BOTH for being a Mets fan and for being obsessed with BWV!!! Sorry, but I think you do know how to take a joke, so I thought I could get away with that statement.

Yup, I can take a joke. How do you think I survive as a Met fan?

To answer some of the questions. Yes, I usually travel during the PEAK BWV times, Oct, Nov, Dec & May. I also plan vacations at least a year out if not more. I was planning my May '08 trip this past May, so I feel I do really need to have that 11 month window.

Also, if I never stay at SSR again I won't be disappointed, to put it lightly. I'm not bashing it, it's just not my taste. It's a beautiful resort, I just feel it's not very Disney, IMO. It looks identical to the apartment complexes we have here in NY, probably because it's supposed to be set in NY . So for me I don't feel like I'm getting away. I like the HOTEL feel, where you walk out of your room & you're in a hallway indoors & every morning you have to walk through the lobby to get where you're going. That makes me feel like I'm on vacation. SSR has the MOTEL feel, where you walk out of your room & you're outside & to see the lobby you have to make a special trip. It may sound silly to some, but that's one of my quirks I guess.


And I love Mule2007's idea of marrying a man with 200 BW points. Know of any? Just kidding.

What I think I'm gonna do is, try again to book 2 studios @ BWV for my May '08 trip in Oct. If I can't get it, I'm selling & re-buying, if I can I'll hold out & hope that the AKV & CRV will make it even easier to get a room, preferably a BW view.

 

[Goofy DVC]

Miss MET,

One thing to think about is that you have something many on these boards don't have-YOUTH .As a result, your dvc wants will most definitely change. We bought at the age of 31 at OKW in 1993.Back then I would have bet the ranch that we would only want to stay there. I would have lost big time. OKW is still our favorite resort, but as we age we are looking to stay at different DVC resorts for probably the next 5-10 years.Patience will help you make a decision that is best for you.GOOD LUCK

 

[rugrats2001]

Not to mention if I sell SSR for $75 per point I'll break even with what I owe, so I'll end up making a profit when I sell it.

Umm, selling a DVC contract for what you owe isn't breaking even. If it was, then giving it away for free after it is completely paid off would be considered 'breaking even'.

What you are doing is leaving a transaction without being 'upside down', or actually having to pay extra money to get out of a contract/purchase.

To figure your break even point, you have to add up all the costs of your SSR investment since your purchase, including original cost, closing costs, interest costs, and maint. fees. Then you subtract the value of any benefits you already received from your points. This gives you the cost of your investment. Add to this the cost of SELLING your contract (closing costs & broker fees), and you will have the amount that you must sell your contract for to truly 'break even'. I think you will find that it far exceeds $75 per point.

 

[Luv4Disney]

Miss Met,

Yankee fan here (sorry!) but young like you. I'm 23 and DF is 24, we're getting married in September and luckily DF is a Disney fanatic like I am. We, like you, did A LOT of research before purchasing DVC. We feel a lot of people don't take us seriously because quite frankly, we look like we're still in high school. However, our DVC contact is excellent. I think he's one of the head DVC people as well. His name is Nick Tamborino. I would suggest contacting him as he is very professional and gave us all the in's and out's we could possibly know. He really helped us out to make a well thought out decision which we feel will only benefit us in the future. We bought 200 points, and will probably buy more in the future. He didn't pressure us at all and is really in "the know."

 

[MissMet]

Umm, selling a DVC contract for what you owe isn't breaking even. If it was, then giving it away for free after it is completely paid off would be considered 'breaking even'.

What you are doing is leaving a transaction without being 'upside down', or actually having to pay extra money to get out of a contract/purchase.

To figure your break even point, you have to add up all the costs of your SSR investment since your purchase, including original cost, closing costs, interest costs, and maint. fees. Then you subtract the value of any benefits you already received from your points. This gives you the cost of your investment. Add to this the cost of SELLING your contract (closing costs & broker fees), and you will have the amount that you must sell your contract for to truly 'break even'. I think you will find that it far exceeds $75 per point.

I appreciate your input, but we've already gone over this. I think you misunderstood that post. I did not mean that I was planning to sell for $75 and that it would cover all the expenses involved. I was answering someones' question on IF I was top heavy & by that I mean owing more for SSR than it could be sold for. I know there are other costs involved in selling and that selling it for exactly what I owe will not cause me to break even.

Right now I owe the equivalent of $75 per point. IF I were to sell, first off I would end up making more payments on it before it would sell, second, if I am selling it I would sell it for $80 - $85 per point. Then add on top of that, that I had already decided that I would pay the closing costs out of pocket, if the buyer didn't agree to split them, like many do.

All I care about is paying off what I owe for SSR, if I am going to sell.

 

[crisi]

Here is what I think. I think that if at 21 you have enough money for at least 350 DVC points then you are either very foolish or relatively rich. If you are foolish, than go for it, because you might as well - reality will hit sooner or later over something and there is no talking sense to a fool. If you are relatively rich, than the difference between what you will sell your SSR points for after commission and buy your BWV points for is insignificant and your happiness is worth more to you than a few grand.

 

[CarolA]

Only if he's a Met fan!

Thank you. I guess I get a little upset when I feel people aren't taking me seriously. I'm not like most 21 year olds & when I'm not taken seriously it annoys me. I work very hard to get where I'm at. I get up at 4am every morning to clean a local church to pay for DVC, in addition to my full time admin assistant job. I figure, while I wait for my prince to come I might as well invest my time & money into my future. I'm actually working towards the goal of paying off all 400 points I own in the next two years. I love the idea of marrying a guy & starting our life together with our vacations totally paid off (except maintenance fees) for really the rest of our lives.

I may have "21 year old" moments, but I really don't feel you can say I'm immature or impulsive. *not directed at Tinky99*

A few suggestions...
If you want to be taken seriously don't post that if Daddy doesn't go with you to buy a car you will wind up with a Hummer when you wanted a Civic...Don't post that your guide "pressured" you into buying and then turn around and say "I knew what I was doing" First you blame the guide and then you say "not really"??? Sorry, but you lost a LOT of crediblity on that first post. And then you blame the other posters for "not taking you seriously"??? Sorry but if you can't be trusted to buy a car on your own maybe they are right.

As someone who recently SOLD a 50 point SSR contract, I think your numbers are too high for a 160 point contract. Read the ROFR posts to see what folks are actually offering for those contracts...

People have asked you WHEN you are trying to book BWV and were "locked" out and you haven't responded. If, like me, you are a late booker owning at BWV will do you no good. If you plan to book day by day at 11 months then yes, you may get that "Standard View"


Do you realize you will be FARTHER in debt on a contract with a HIGHER interest rate? (And you may have trouble qualifying for financing via the resale brokers. Not sure what you situation is but they do have 'higher' requirements then Disney since they are basically loaning you the money as a personal loan, not as a mortgage)

 

[MissMet]

Here is what I think. I think that if at 21 you have enough money for at least 350 DVC points then you are either very foolish or relatively rich. If you are foolish, than go for it, because you might as well - reality will hit sooner or later over something and there is no talking sense to a fool. If you are relatively rich, than the difference between what you will sell your SSR points for after commission and buy your BWV points for is insignificant and your happiness is worth more to you than a few grand.

Wow, how judgemental.

Since when is investing my extra time & money foolish? Look I'm sorry I don't spend my money the way you approve of, but you don't have to be so mean. I work hard to get what I get, you can call it foolish but I call it motivated.

I guess I get a little upset when I feel people aren't taking me seriously. I'm not like most 21 year olds & when I'm not taken seriously it annoys me. I work very hard to get where I'm at. I get up at 4am every morning to clean a local church to pay for DVC, in addition to my full time admin assistant job. I figure, while I wait for my prince to come I might as well invest my time & money into my future. I'm actually working towards the goal of paying off all 400 points I own in the next two years. I love the idea of marrying a guy & starting our life together with our vacations totally paid off (except maintenance fees) for really the rest of our lives.

 

[MissMet]

A few suggestions...
If you want to be taken seriously don't post that if Daddy doesn't go with you to buy a car you will wind up with a Hummer when you wanted a Civic...Don't post that your guide "pressured" you into buying and then turn around and say "I knew what I was doing" First you blame the guide and then you say "not really"??? Sorry, but you lost a LOT of crediblity on that first post. And then you blame the other posters for "not taking you seriously"??? Sorry but if you can't be trusted to buy a car on your own maybe they are right.

As someone who recently SOLD a 50 point SSR contract, I think your numbers are too high for a 160 point contract. Read the ROFR posts to see what folks are actually offering for those contracts...

People have asked you WHEN you are trying to book BWV and were "locked" out and you haven't responded. If, like me, you are a late booker owning at BWV will do you no good. If you plan to book day by day at 11 months then yes, you may get that "Standard View"


Do you realize you will be FARTHER in debt on a contract with a HIGHER interest rate? (And you may have trouble qualifying for financing via the resale brokers. Not sure what you situation is but they do have 'higher' requirements then Disney since they are basically loaning you the money as a personal loan, not as a mortgage)

Wow. I don't really even know where to start.

First off, I'm sorry I haven't responded to all 3 pages of questions of this forum. YES, I have tried at the 7 month window, but it's always been for Nov, so like I already said, I'm gonna try again but this time for MAY & see how it goes BEFORE I make my decision to sell. I usually always travel in Nov but I'm willing to change it to May if it will mean I can get a room without switching home resorts.

Second, it's a 200 point contract & the numbers I got where from all the resale websites & what they are being sold for. On top of that I'm not as irresponsible as some of you think! I'm not making my decision until I run the number by all the different resale companies & then I'll go from there.

Third, I'm really not looking for credibility. If you don't want to trust anything I say that's your issue, I just wanted some input not harassment.

And no, I'm nothing like you. If maybe you had read the WHOLE forum before lashing out you would have already seen that I plan vacations at least a year out if not more!

 

[Mtnman44]

Try not to get offended. Often, the tone of comments via email and internet text comes out all wrong when read by another. I think people are trying to offer a young, disney enthusiast some important advice. Crisi's comments were very direct but I think they have the most value of anything on this thread. For a 21 year old single person to own 400+ dvc points on her own is a very unusual situation Nothing wrong with it per say, but this is unusual.

So, either you have plenty of money for these types of luxury expenses, or you are saddling yourself with debt. For most people, debt is never a good thing and it is often, often over utilized and abused. Debt is a compromise. I think in their own way, people are just trying to warn you about too much debt when you are young. Then again as Crisi said, if you have plenty of money, and these DVC purchases are just pocket change for you, then this whole thing is a moot point and you should sell SSR and buy BVW as the dollar amounts involved are not important.

 

[MissMet]

Try not to get offended. Often, the tone of comments via email and internet text comes out all wrong when read by another. I think people are trying to offer a young, disney enthusiast some important advice. Crisi's comments were very direct but I think they have the most value of anything on this thread. For a 21 year old single person to own 400+ dvc points on her own is a very unusual situation Nothing wrong with it per say, but this is unusual.

So, either you have plenty of money for these types of luxury expenses, or you are saddling yourself with debt. For most people, debt is never a good thing and it is often, often over utilized and abused. Debt is a compromise. I think in their own way, people are just trying to warn you about too much debt when you are young. Then again as Crisi said, if you have plenty of money, and these DVC purchases are just pocket change for you, then this whole thing is a moot point and you should sell SSR and buy BVW as the dollar amounts involved are not important.

Thank you. I understand what you are saying but I really don't feel, IMO, that calling someone foolish is a way of giving them good advise.

I guess I had thought I made myself clear that I took a second job to pay for my DVC ownership & to pay it off in 2 years. I live on my full time salary. I decided I wanted to own DVC. I knew it would be tight on my one salary, so I got a second part time job. All the money of that part time job goes to paying off my DVC ownership. At the rate I am going I will have it payed off in 2 years.

I thought that was clear. I am not rich, so that leaves me foolish in her eyes & I don't think that's fair. I feel that I'm the minority who IS NOT going into debt for DVC.

I guess I'm just crazy, like my forum title states.