Am I crazy?

[Monte Cristo]

Different strokes for different folks, that's what makes the world go 'round.

Interesting read this thread is, I only wish I had an opinion to add to the OP. I can say that we love BWV too and haven't stayed anywhere else since we bought many years ago so I can understand where you are coming from.

 

[luna99]

Warning: I'm sorry if this offends you, Miss Met, or any other early 20's DVC owner

I just have to say this . . .How can you congratulate a young person for putting herself in debt at such a young age? I know that if my 21-year-old decides to take out such large loans for DVC or any luxury item for that matter, I will be very disappointed. I would hope a sound education and a solid house investment should be accomplished first (I am in no way asking you about your personal situation, Miss Met) Even with these things accomplished, 21 seems so young to take on such a burden. I just don't think this poster should congratulate MissMet because I do not feel this is a success. I'm sorry, but anyone can take out a loan . . . this is NOT success!

OK . . . I'm fully outfitted . . . hit me with your flames

honestly, I wish I would have been smart enough to join DVC when I was younger.

I'm sure all the money I spent on frivilous, discarded things between the ages of 16 to 25 like CD's, makeup, purses, shoes, clothing, beauty products, just going out with friends, out to dinner, alcohol, etc.. could have paid AT LEAST a quarter of what it takes to become a DVC member. When I think back on how recklessly I spent my money in my younger days I totally regret not saving more of it or at least spending it on something like DVC that I could get years of enjoyment out of.

 

[vwlvette]

The world would be in great shape if some of these posters ran it. lol. Folks chill out, I sure am glad I didn't have parents like some folks on here. I teach my children to go for it. Be wise, plan, and execute, but none the less go for it. Anyway, I am done with this subject, after all it seems some on here ran MissMet away.

Enjoy!!

 

[rinkwide]

...my guide pointed out that my parents never had trouble getting a reservation in other resorts other than their home resort...he said I could have bought BWV through Disney, but he talked me out of it...

I'd sue for rescission.

 

[Luv4Disney]

 

[crisi]

I am definitely not offended. I am 23, DF is 24. We've both completed college and have great full time jobs. We already have a house, paid off two cars, and our DVC is 75% paid off already after purchasing it in May. We've accomplished all of this on our own. Just because we're young doesn't mean we can't be successful this young or make wise decisions. We've secured our Disney vacations for the next 47 years. Nothing wrong with that! We all have different situations and I'm sure all of us as DVC owners have thought long and hard about any decisions we have to make regarding the DVC, especially since we're all investing our hard earned money. Let's all give Miss Met a break here and give her the advice she asked for, not critique the way she lives and chooses to spend her money.

And therefore, you are relatively rich. I'm not sure what the problem is - you can either afford this - and if you can afford this in your 20s you are relatively rich - or you can't afford it and buying a luxury purchase you can't afford is foolish. Relatively rich is not some dirty word that should be shunned - take pride in being relatively rich.

 

[Cruiser1969]

No flames here either!
As I see it, MissMet, is a Disney lover, who is trying to set up her Disney future the right way. . . .
For what it is worth, MissMet seems to be a hard working young lady, I, for one, give her credit.

I can appreicate different strokes for different folks. I just don't see the value in giving credit for taking out a huge loan to get something that is not necessary . . . that is just the way I think. I am at a point in my life where I can start to think about buying into the luxuries of life, but you can be sure my financial present and future have been taken care of first. DVC is a luxury, not a necessity or an investment.

Some of you applaud the OP for putting herself in financial risk . . . I don't get it??? A previous poster had it exactly right. Save for the 2 years and then buy the contracts for cash at 23 years old. Now, Miss Met seems to be the target of my posts, but she is not. I have no idea what her financial situation is. She could be stinkin' rich for all I know. My issue is with posters congratulating her on her success and giving her credit for making a huge luxury purchase at the age of 21. I can't imagne there are too many 21-year-olds that are in a strong financial position to spend 40K. I know I cannot win this battle as many people spend money they simply do not have.

 

[vwlvette]

I just love how some on here are the judge jury & executioner. I bet most of the critics actual still believe that paying off your home is "The Dream". How many use equity from their home to actually make money? There is nothing worse then stomping on other's dreams and asperations. Just because you are older ( I am one of the older ones also 46) doesn't make you right. What is the worse that can happen? MissMet would have to sell her interest in DVC. She will not lose 40k, not 30k, not 20k, not even 10K. Sometimes life lessons are the best. But I am betting that she does fine. I am sure all the critics have never made any financial mistakes. I for one have made a few, but I also have attained a high level of success. If I acted conservatively I would be still be dreaming about owning DVC. For all those who are anti loan, Where would you be without loans?

 

[Cruiser1969]

I agree with this poster's comments . . .

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.

I am not anti-loan at all. I feel there is a time and place for taking out loans, and DVC at 21 years old is not one of them. It's my opinion, that's all!

This thread has gotten off-topic, and I apologize for contributing to that.

 

[txo1474]

MissMet,

I spent several months reading posts on this site and others, before I bought into DVC. My original idea was to buy resale at VB or HH at around 67/pt, and use the points to stay at BWV ( my favorite also ). Im so glad the folks on here changed my mind, cause I ended up buying at BWV.

I think you've gotten some constructive criticism, both good and bad. Only you can decide which is best for you.
My advice.......patience......although there are no guarantees, I too believe with the addition of new places, ressies might get easier.

Yours is the perfect lesson for anyone else looking to buy into DVC, BUY WHERE YOU WANT TO STAY! Had I seen this thread, I would have never considered buying anywhere else!

 

[crisi]

honestly, I wish I would have been smart enough to join DVC when I was younger.

I'm sure all the money I spent on frivilous, discarded things between the ages of 16 to 25 like CD's, makeup, purses, shoes, clothing, beauty products, just going out with friends, out to dinner, alcohol, etc.. could have paid AT LEAST a quarter of what it takes to become a DVC member. When I think back on how recklessly I spent my money in my younger days I totally regret not saving more of it or at least spending it on something like DVC that I could get years of enjoyment out of.

I guess I didn't have that at 21. At 21 (or thereabouts) I made my disastrous first marriage. That was followed by several years of eating rice and beans and living with the heat at or below 60 degrees through a Minnesota winter in a secondhand coat to keep from bankruptcy. I did buy my first home at 20 - and that mortgage was part of the problem - having those payments once my ex lit out was tough. I was upside down in the house, I couldn't pay a realtor and pay off the mortgage and come out ahead. And I had no savings, just debt - and not even frivolous debt - we had a house and a car loan for a cheap car.

So I'm a lot more financially conservative than most, but I've seen the downside of risk and I really don't want to go there again.

 

[TenThousandVolts]

Hey MissMet- Can you find (a) BWV owner(s) who wants AKV or SSR points to do a swap transfer for the next couple years, giving that SSR contract a little more time to appreciate.

 

[BroganMc]

There is nothing worse then stomping on other's dreams and asperations. Just because you are older ( I am one of the older ones also 46) doesn't make you right. What is the worse that can happen?

Hmmm, a 22 year old responsible student in my town went out with some friends a weekend ago and ended up getting shot in the neck by a disgruntled driver. She's now paralyzed from the neck down.

Point being, never EVER ask a loaded question like "What is the worst that can happen?" I guarantee you, most early 20-somethingers have no idea how bad life can get. That's why their boring parents are constantly judging their frivolous expenditures and lack of planning for the future. (It's also why such phrases as: "oh to be young and stupid" or "youth is wasted on the young" exist.)

I think what threw alot of folks here is that they were presented with two red flag moments: (a) a new buyer who wants to flip contracts for a loss and (b) a buyer who financed $40,000 on a timeshare. Timeshares are not real estate investments. They lose value as soon as the ink is signed. That's why the smart financial move is to pay cash, so you only put what you can truly afford into such a luxury. Buying a CD, burger from McD's or fancy shade of lip gloss is relatively minor in the game of discretionary spending. Discretionary spending is what you use AFTER you've prepared yourself for that worst case scenario.

Of course I'm against all timeshare financing for any age. I hate financing. It's necessary for a few big ticket items like house and car, but everything else you save for the future. Otherwise the worst happens, you can't pay your bills and have to give away all those lovely luxuries just to survive.

Now MissMet, if you're still listening, I highly advise you follow some of the advise given. It really makes poor sense to try and flip that contract right now. Much better to hold it a few more years, work the system a bit better, get into renting and trading points.

 

[Disney Kim]

well, I'm 25 and I am using my money for DVC,
I own a house, a car, put money in my rrsp's... all that stuff that older people think we "should" be doing with our money.. If I wanted to pay all that off before I had any fun I would be like 35 before I could leave my house to go anywhere but work!!!
But let me tell you that there are a heck of a lot worse things a 21 year old could be doing with money than buying DVC!!
I think some people here are a little over reacting about someone financing something.
Its must be nice to be like 45 and not have to finance anything... Miss Met I am with you! ENJOY IT!!
We are gonnna be dead a long time

 

[jodifla]

well, I'm 25 and I am using my money for DVC,
I own a house, a car, put money in my rrsp's... all that stuff that older people think we "should" be doing with our money.. If I wanted to pay all that off before I had any fun I would be like 35 before I could leave my house to go anywhere but work!!!
But let me tell you that there are a heck of a lot worse things a 21 year old could be doing with money than buying DVC!!
I think some people here are a little over reacting about someone financing something.
Its must be nice to be like 45 and not have to finance anything... Miss Met I am with you! ENJOY IT!!
We are gonnna be dead a long time

I'm with you as well. Life is short, so live now!

We bought DVC 10 years ago, in our mid 30s. We didn't have kids yet, but were hoping to...so by the time DS came along, we had our DVC paid off. It makes it a lot easier now on one full income (I'm freelancing) to take fabulous vacations. We'd never do it if we had to pay cash for hotel rooms.

We also paid a whole lot less 10 years ago for our points. If we'd waited until we could have paid cash (and not dip into our savings) the point price increase would have been more than the financing charge.

If you already have a house, and just one car payment, adding a DVC payment onto it isn't going to be the "OH MY GOD" financial deal breaker the Dave Ramsey worshipers would have you believe.

 

[Disney Kim]

I'm with you as well. Life is short, so live now!

We bought DVC 10 years ago, in our mid 30s. We didn't have kids yet, but were hoping to...so by the time DS came along, we had our DVC paid off. It makes it a lot easier now on one full income (I'm freelancing) to take fabulous vacations. We'd never do it if we had to pay cash for hotel rooms.

We also paid a whole lot less 10 years ago for our points. If we'd waited until we could have paid cash (and not dip into our savings) the point price increase would have been more than the financing charge.

If you already have a house, and just one car payment, adding a DVC payment onto it isn't going to be the "OH MY GOD" financial deal breaker the Dave Ramsey worshipers would have you believe.

I totally agree! I am hoping to have all if not most of ours paid off before we have children, People say wait till after you have kids, But I think DVC is something I will love to do with my kids while they are little..
I do enjoy it without kids but I think it would defeat the purpose a little to wait untill my kids are grown to buy in...

 

[jodifla]

I totally agree! I am hoping to have all if not most of ours paid off before we have children, People say wait till after you have kids, But I think DVC is something I will love to do with my kids while they are little..
I do enjoy it without kids but I think it would defeat the purpose a little to wait untill my kids are grown to buy in...

Yeah, I think it's bizarre advice, as well. It worked out MUCH BETTER for us to have DVC and have it all paid for by the time DS came along. It gave us so much more flexibility.

Once kids come along, there can be so many extra expenses. I read about people who look and look and look at DVC, then it's so much more expensive by the time they bought -- and the real kick in the teeth is, they've spent beaucoup bucks on WDW hotel rooms in the ensuing years!

We've been taking DS since he was just a few months old. It's such a great vacation for little ones. We had a great time with it before DS came along, as well!

The other benefit is we've been taking other families with us. That's so much fun as well.

 

[crisi]

I totally agree! I am hoping to have all if not most of ours paid off before we have children, People say wait till after you have kids, But I think DVC is something I will love to do with my kids while they are little..
I do enjoy it without kids but I think it would defeat the purpose a little to wait untill my kids are grown to buy in...

On "what could happen" - About a dozen years ago we started trying to conceive. Nine years ago we adopted our son - $20,000 into infertility treatments (and we didn't do much) plus another $20,000 for adoption (all this has gotten much more expensive since we did it). We wouldn't have been able to afford that had we had out a DVC loan. We did take out loans for adoption - and got REALLY lucky in that we inherited money unexpectedly that let us pay it off - or we'd really have struggled.

My sister also had problems conceiving - she has two $40,000 children. Hers would have come much earlier except her husband was unemployed for nine months about the time they wanted to go with IVF.

People on this board say two things I know are wrong for me. One is that DVC is the best money they've ever spent. Best money I ever spent went to Children's Home Society of Minnesota and Eastern Child Welfare in Korea. The other is that they wish they'd have bought sooner. At no point until shortly before we bought was there a time I wouldn't have regretted not having that cash available or regretted having a DVC loan or dues.

Having less debt and/or cash on hand gives you more flexibility when life throws you a curve. If you are lucky enough to never know what I am talking about, I envy you.

 

[Cruiser1969]

On "what could happen" - About a dozen years ago we started trying to conceive. Nine years ago we adopted our son - $20,000 into infertility treatments (and we didn't do much) plus another $20,000 for adoption (all this has gotten much more expensive since we did it). We wouldn't have been able to afford that had we had out a DVC loan. We did take out loans for adoption - and got REALLY lucky in that we inherited money unexpectedly that let us pay it off - or we'd really have struggled.

My sister also had problems conceiving - she has two $40,000 children. Hers would have come much earlier except her husband was unemployed for nine months about the time they wanted to go with IVF.

People on this board say two things I know are wrong for me. One is that DVC is the best money they've ever spent. Best money I ever spent went to Children's Home Society of Minnesota and Eastern Child Welfare in Korea. The other is that they wish they'd have bought sooner. At no point until shortly before we bought was there a time I wouldn't have regretted not having that cash available or regretted having a DVC loan or dues.

Having less debt and/or cash on hand gives you more flexibility when life throws you a curve. If you are lucky enough to never know what I am talking about, I envy you.

Well said! Blessings to you and your family!!!

For the majority of us, life will throw us a curve . . . it's usually just a matter of when.

 

[tinkerbell102]

miss met
First I would like to say that you are obviously a very intelligent lady...you love 2 of the greatest things...Disney, and the mets!!!! I am a new DVC owner, and I must say that it is a little upsetting to see so many replies being so judgemental instead of helpfull. I really don't have any advise regarding your initial questions, but I think that you must be an extremely motivated indivudual to work 2 jobs to own something that you want. I am the mother of a 21 year old, and not too many people your age are that motivated. Keep up the good work, and don't let others deter you.