Annual Fees!!!

[Mickey'sApprentice]

This is why we are happy having just 100 points. We pay our yearly dues in January and don't think about it for the rest of the year...unless we think about adding more points.

 

[DebbieB]

For 2014, I'm paying $124 a month for 250 BWV points, up from $120 this year. I think paying $124 a month for 2 or 3 DVC stays a year is awesome. When I couldn't get a points reservation for a BWV stay last month, I got a 35% off AP rate for a studio, it was $285 incl tax a night! For 5 nights it would have been $1,425! That's with a 35% discount! By stalking the website and waitlisting, I was able to get the points reservation, it was 75 points total and I cancelled the AP reservation. 75 points vs $1,425! How is that not worth it?

 

[DizBub]

For 2014, I'm paying $124 a month for 250 BWV points, up from $120 this year. I think paying $124 a month for 2 or 3 DVC stays a year is awesome. When I couldn't get a points reservation for a BWV stay last month, I got a 35% off AP rate for a studio, it was $285 incl tax a night! For 5 nights it would have been $1,425! That's with a 35% discount! By stalking the website and waitlisting, I was able to get the points reservation, it was 75 points total and I cancelled the AP reservation. 75 points vs $1,425! How is that not worth it?

Good perspective.

 

[DizzyStitch]

I ended up buying DVC because I got tired of hoping for a discount, especially when our travel plans moved from August and September to June. Amortizing the cost of my points over 12 years and adding in the cost of the annual dues has me paying about 2,000 for a ten night stay at a deluxe studio. I don't think I can do much better unless I go back to the values. And I love staying on sight even if off sight could be cheaper. I consider disney my happy place even with the short comings that come with being a corporation that has to make a profit for stockholders.

 

[GrumpyPOTFH]

I agree with a lot of what others have said. I may look at things a little different on the dues, a increase of $8 per month if that is causing a problem then as some have said owning DVC probly was not a good purchase. I do look at the increases and try to see if they are justified, most of the time I think they are. I am also with the ones that pay it all in January and not look back. As some have pointed out Disney is a public company and there for need to make a profit and pay dividends to the stock holders. Which I am one of. I have been a stock holder a lot longer then I have owned DVC. I am very please with the stock and the way it has preformed the last five years. I guess I could look at the dividends that I receive go to pay my annual dues.

When it comes to timeshares in general they are not for everyone. On our last trip to FL, we looked at Marriott and had went to purchase a timeshare with the thought that our grown kids would like it. We were informed by them they did not want anything to do with it and we then canceled our contract in the first days.

They look at our DVC a little different because of the amount we use it and they can see in the future they can go ever other year and both get use out of it. They have cousin who will also use it once we get to old. So everyone needs to look at DVC in the way they will use it today and the next 40+ years.

 

[twinklebug]

When friends and family look into buying DVC I stress that the cost of ownership is really in the fees. Then, add in your airfare/travel and park passes (if that's what the intention for owning DVC is. Some don't care about parks.)
I believe it's far better to buy too few points and either rent or add on in very small bits as years go on than it is to buy too many points and become swamped by dues.

The DVC sales reps like to tell potential buyers to plan out how many points they will need for a room each year as part of the sell. From my experience with them, they fail to really detail the cost of dues and the annual increases that go along with it. Those who do their homework will not be caught off-guard by their costs and increases, I found the forums here on the DISboards helped me a lot with my purchase planning.

Looking around at all the kiosks in the parks and resorts, does anyone ever wonder how many impulse buyers there are for DVC? and of those buyers, how many of them regret their purchases when they receive the bill including the dues increase annually?

 

[Sur]

Part of the plan, when buying DVC was to get tickets in advance too. I have to see how that ends up working out. I know they'll honor the tickets, but feel that FP+ may be sketchy. I suppose it won't make that much of a difference in the long run... again, will see.

 

[Mickey'sApprentice]

I ran into to some brand new owners when we went to check out the new VGF.

I did not say a word about resale or any disparaging words. I did tell them that between banking, borrowing, and renting out that there was no reason to ever let their points go to waste. I told them to check out the DIS for more info.

They assured me they would not let points go to waste and promised they would check out the DIS.

 

[3happydancers]

Have you checked out the reasons for the cost increases? Do you know what the actual costs are/will be? To say one doesn't like it really doesn't do much if the actual costs aren't known/or you don't believe Disney is giving you the correct costs?

Contact them. Ask. Get the necessary info.

If you have and you're still not happy with their answers, well, I guess it is time to sell.

Michael

I do intend on contacting them. I did not have a chance since the holiday was upon us. But honestly, regardless of the reason(s), my family has limits and we have just about reached ours. We would rather take the nearly $1500.00 paid in annual fees and apply it elsewhere. For us, the fees are rising much too quickly on an annual bases to the point that the cost out weights the benefits for us. Plus, we are not happy with all the changes Disney has made and is making. We do not at all like what is happening with magic bands and fast passes. All in all, combined, coming to the conclusion to move on is becoming an easier decision for us.

 

[3happydancers]

DVC is an extremely expensive timeshare. Expensive to purchase. Expensive to maintain. Expensive to use when considering the costs of dining, entertainment, etcetera.

If the difference of an extra $4 a month ($48/year) is unreasonable to you, I would strongly suggest you sell now while the resale market is high.

I get what you're saying. Everyone wants more services, cleaner rooms, and wants the staff to be paid reasonably, but no one wants to pay more for it.

This just reminds me of the thread a couple weeks ago, where someone was bemoaning how horribly expensive grocery delivery service runs while they were staying at the VGF...or of a friend I know who spends an hour clipping grocery coupons in order to run down to the store in her Mercedes...

Just consider that you're possibly missing the forest for the trees in fretting over a small real-money difference. You're entitled to your opinion, of course. Mine is that DVC is still a very good deal versus Disney cash reservations. If that changed, I would be looking to sell as well.

I am looking at the cost over the past few years, not just this year so it is not just $48 dollars. And for the record, I never said I expect more services, or a cleaner room. I don't even expect "perks" like some complain about. I guess for some DVC is still a good deal. For us, not so much. Glad that it still works for you! We are actually very sad that it is not working for us. We had plans to pass our membership down to our daughter so that she would have the opportunity to build memories with her family one day.

 

[dburg30]

When we bought I was worried about buying at AKL as it IMO will be even more expensive, because, not only do you have the humans getting paid, you have animals to take care of also.. So I'm not surprised at all about the fees going up. Not thrilled about it, but kind of figured it..

 

[3happydancers]

I'd also like to add that DH and I did not purchase on impulse. We researched for 3 years before taking the plunge. We are aware of yearly increases and agreed to them. Unfortunately, the increases we are seeing are higher than we are willing to absorb. We do go 1x yearly. Sometimes we stay in studios, other times 1 or 2 bedrooms; all of which we enjoy but in all honesty, staying at a moderate never bothered us. One of the reasons for our purchase was our love for the World and the intent on returning regularly. Well, that has changed as well. We are more and more disappointed with the changes Disney is making. So for us the two go hand in hand (steep increases and changes we do not care for.)

I am happy to hear that many DVC member are very content. We do have a special place in our hearts for DVC.

 

[Dean]

I wish we could say the same but we can't. We are seriously considering selling off our points. I simply don't see how DVC can justify such huge increases like we have been hit with. Well, at least for my family, it is something we are now considering. Very sad.

See below. They really haven't had large increases, DVC is simply expensive both up front and yearly and always has been.

this is the very reason we are hesitant to buy DVC. There is a limit to how much the dues can increase per year, but not a max limit to how much they can increase over the life of the contract. I'm worried that the dues would be sky high by halfway through the contract.

There really isn't a limit other than 15% PLUS taxes every year. They've already proven to members with the 2 yr reallocation what I've said for years, that such limits don't mean anything and offer no protection.

I understand your hesitation. We joined in 2008 and honestly we have enjoyed being members. But...we personally feel that DVC has not been reasonable when it comes to these last few years in increases.

In terms of comparing to other timeshares, they have been reasonable. A timeshare I used to own (converted to Bluegreen points), had a Special Assessment a few years ago that amounted to basically $1000 for each and every studio or 1 BR component (all lockoff's). My SA alone would have been almost $10K plus another roughly $7K in normal maint fees. Fortunately I'd converted a year or so earlier so I missed out on the SA. While it did get passed on to Bluegreen, it my portion was under $100 since it was passed on to a much larger group of owners. So far DVC has not had any SA surprises though I hear VB came close a few years ago.

I'll pay more for cleaner rooms, better services, and being able to check in earlier.

Not picking on you. But I do see a lot of people nitpicking on dues. I just like to go on the record that I'm fine with increases for more/better services.

We're already paying for those things now, just think Washington DC and increased taxes.

I'd also like to add that DH and I did not purchase on impulse. We researched for 3 years before taking the plunge. We are aware of yearly increases and agreed to them. Unfortunately, the increases we are seeing are higher than we are willing to absorb. We do go 1x yearly. Sometimes we stay in studios, other times 1 or 2 bedrooms; all of which we enjoy but in all honesty, staying at a moderate never bothered us. One of the reasons for our purchase was our love for the World and the intent on returning regularly. Well, that has changed as well. We are more and more disappointed with the changes Disney is making. So for us the two go hand in hand (steep increases and changes we do not care for.)

I am happy to hear that many DVC member are very content. We do have a special place in our hearts for DVC.

Based on what you've posted and assuming there have been no major changes in your financial situation, it doesn't sound like you made a wise choice to join as you did. It sounds like you cut it too close and couldn't actually afford it to start with. Some of my points in financial decisions related to purchasing DVC is that one shouldn't finance a timeshare or any luxury purchase and that being able to "afford" the monthly payments does not mean one can afford the purchase.

 

[bigvig1130]

People are questioning the increases, but at least there seem to be legitimate reasons for them. There are no odd categories like "special assessment" to hike up the cost just to gain more profit. We are questioning this more than government tax increases and the reasons for those are always kept in the dark. I like knowing they why's of my increases. Sometimes they are justified.

I plan on paying my dues with my tax returns (I consider this free money) so the extra $48 this year is not even noticable.

 

[staceymay00]

OMG, I do expect them to rise, but not $8.00 per month. We have 210 points at Animal Kingdom. Between this raise and the last 2 years, we are paying about $18.00 more a month. Anyone else feel my frustration?

We own 150 points at OKW and our dues have increased since we bought four years ago, although not as much as they have at AKV. I pay MFs all at once in January and to be honest, whether the bill is $700, $800 or $900 does not phase me. Not that we are made of money or that I don't care how my money is spent, but a $100 increase is nothing compared to what we spend on tickets and food for annual WDW visits. Costs for running the resorts go up and I fully expect my dues to increase 3-5% a year. I can understand how a payment for initial buy in (especially at direct prices and DVC's crazy interest rates) plus MFs can get old, and if an $8 a month payment increase frustrates you than DVC may no longer be a good fit. Sorry that you are feeling frustrated, but it does happen and sometimes people decide to sell after a few years. Maybe you could rent your points for a year to recoup some of your costs and give yourself time to decide if you want to sell.

Sent from my iPad using DISBoards

 

[GrumpyPOTFH]

See below.

Based on what you've posted and assuming there have been no major changes in your financial situation, it doesn't sound like you made a wise choice to join as you did. It sounds like you cut it too close and couldn't actually afford it to start with. Some of my points in financial decisions related to purchasing DVC is that one shouldn't finance a timeshare or any luxury purchase and that being able to "afford" the monthly payments does not mean one can afford the purchase.

Agree with you 100%, this type of purchase should never be done with a loan!

 

[GrumpyPOTFH]

I plan on paying my dues with my tax returns (I consider this free money) so the extra $48 this year is not even noticable.

You should not consider this FREE MONEY, it is a NO INTEREST LOAN to the Federal Government. I always want to come April 15th and pay between $1 to $100. I never wnat to have a refund!

 

[bigvig1130]

You should not consider this FREE MONEY, it is a NO INTEREST LOAN to the Federal Government. I always want to come April 15th and pay between $1 to $100. I never wnat to have a refund!

I agree about the interest free loan part. And yes, I hate giving more to the govt to hold than necessary. I just dont want the hassle of underpaying if I figure wrong. I just use it as a savings for recreational funds. Trust me, I'm not going to get much more from a bank.

 

[twinsouvenirs]

I agree about the interest free loan part. And yes, I hate giving more to the govt to hold than necessary. I just dont want the hassle of underpaying if I figure wrong. I just use it as a savings for recreational funds. Trust me, I'm not going to get much more from a bank.

Soooo true

 

[DizBub]

You should not consider this FREE MONEY, it is a NO INTEREST LOAN to the Federal Government. I always want to come April 15th and pay between $1 to $100. I never wnat to have a refund!

I'd much rather get a small refund than owe any money on April 15th.

At least I get peace of mind knowing we are paying enough taxes and there are no surprises.
Banks are paying pretty much nothing anyway.