Any regrets?

[AnnaS]

My only regret is not buying sooner. My DH and I originally looked at OKW in 1992 when it was $55 a point. We finally purchased in 2005 (resale at BCV) and have enjoyed many WDW since. MY DS (23) and DD (26) also enjoy using our DVC points.

Just a quick hello from another Staten Islander here. We have a lot of dvc members on SI.

 

[MarieA]

Just a quick hello from another Staten Islander here. We have a lot of dvc members on SI.

Hi!

We're from Great Kills. What part of SI are you from? I know there are quite a few DVC members in my area.

 

[AnnaS]

Oakwood here - not too far

 

[JimC]

My only regret is not buying sooner. My DH and I originally looked at OKW in 1992 when it was $55 a point. We finally purchased in 2005 (resale at BCV) and have enjoyed many WDW vacations since. MY DS (23) and DD (26) also enjoy using our DVC points.

Pretty similar to us. We toured in 1992 and bought in 2002. We had other priorities in early 90s. But should have revisited our DVC decision earlier than 2002.

 

[crisi]

We have a small number of point and when we bought, bought with the intention of only every other year stays. It has worked well for us, but we haven't had high exceptions - and we haven't been hit by many of the changes over the years. We use a room - usually at our home resort - and with a Friday and often a Saturday night stay.


We do not save money

While we enjoy Disney, if we didn't own we would be on the verge of taking our every other year trips to every three or four.

I think the accommodations and appointments are not as nice as I'd like. They are functional, but the sheets aren't great, the towels aren't great. I've been in much nicer (bigger, better laid out, nicer furnished) timeshares. (On the other hand, we just had a bed in Hawaii that made me long for the flight home so I could sleep - beds - the most important feature of a room - are good).

I believe (not everyone does) that there is a noticeable difference in being a cash guest vs. a DVC guest with cast member interactions if they know (like front desk CMs).

We take guests. I enjoy that a lot. But its really added to our expense as our guests are often broke enough that we end up subsidizing more than the room.

 

[mermaids1960]

Yet to stay as a newbie Still cant wait

 

[cchron]

I don't regret my purchase but regret my home resort. We bought at BLT but really love the Boardwalk area and EPCOT is our favorite park. We also really wanted to try other resorts. We don't have kids and tend to go off season so I thought I would have an easier time switching at the 7 month mark, I'm finding that is not the case. If I had to do it over, I would buy resale at BWV or BCV.

 

[zebsterama]

Very important point! Don't think you are going to make money on this deal.

This is what kind of holds our family back ... ok in truth ... it's mostly my wife's voice of reason holding me back!

Our family does a 10 day to 14 day excursion to the world every couple of years. We rent points.

We've been close to buying in a few times, but then we do the math, and we have the "when the kids are older are we really Ok with going to Disney every year or every other year conversation?" ... and the answer is I just don' know. My wife has concerns about that feeling of obligation/complacency/apathy – the i.e. “well we’ve got points anyway, let’s just use our vacation $$ and go with Disney.”

I think there is also a certain physiological high one gets from being "part of the club." I don't know if I'm articulating this in the right way, and there is no disrespect or labelling intended, when I say (as someone else pointed out on this thread) it’s "addictive". I’m quite sure the user wrote the word with humorous intentions – rightfully so! – but I think there's a smidge of truth in there.

I'm living proof. I don't even own points, and yet I still find myself on Disney/DVC related boards - posting and lurking - and thinking – "should we or shouldn't we buy in?"

I just can't seem to take the plunge!

To the person who started this thread. DVC is great thing - take your time; you're doing the right thing by really thinking about it.

Cheers,
Zebsterama

 

[crisi]

There IS an emotional component. And to add to the "well, we rent" - there is a risk avoidance component as well - being able to control your own reservation and stay secure in its existence - controlling your own points and understanding if you can cancel and move - that is worth something.

Is it worth buying in? Without the fact that you think you might have the apathy, maybe. But since you are aware that there is the chance Disney will become an obligation once you have DVC, it doesn't sound like you've really bought into "The Disney Lifestyle."

Things have changed since we bought ten years ago. When we bought we could justify our purchase with "resale prices are going up - in a year we will be able to resell and get our money back." And "if we can't go, we can rent our points out." Those two things today are much less certain than they were. Those of us who bought back then have our "money out" in terms of trips - and reselling now is gravy.

 

[dbs1228]

I think when I hit that point I'll just say 'thanks for the memories', sell my points for whatever I can get (feeling that I've gotten what I wanted from them when I bought) and move on to other vacation destinations with the proceeds.

I have to agree 100% with this statement! Why would anyone stay with DVC if they felt that they were "tied to Disney for the next 31 years"! I would say thanks for the memories, our vacations were prepaid, now it is time to move on.

We paid cash ressies for 15 years and I am sure we spent more then the owners and had nothing at the end of the day. I do not regret not buying in, it was not the right time for us. We could afford it in 2006 when we took the tour but my gut told me no and I try to stick to what I feel. We went for the tour in 2010 and I had no intention of buying but something made me go. With BLT and the location it was the only DVC that really did make sense. I really got excited. Our DD's are late teens now and do not see DH and I staying at the cabins with the little murphy beds in the future but I do see us to continue to go to WDW every year. We want the home away from home and would not stay in the budget properties, we do not enjoy "having" to eat out every meal. My other reason for buying were I would LOVE to vacation with my DD's and soon they will be in a position where they cannot afford vacations for a while, owning will allow us to bring them occasionally and spend time with them and their future families.

No regrets and if I find myself in the position that I do regret my decision I will sell and move on, or rent my points out (enough to cover maintenance fees) to friends and family, we have a lot of Disney fans!

 

[dianeschlicht]

Zebsterama, you sound like you are actually one of those who would have benefited from membership over the years. Crisi is one of those I admire because they have kept to their original plan from the start. Unfortunately, we were in that category who didn't buy enough at the beginning, because we only expected to go every other year. One trip staying in a 2 bedroom at OKW changed that plan right away! We quickly added more points, and now go about 2 times a year.

From the standpoint of cost....Yes, we spent more than we planned, since we doubled our original buy in, BUT (it's a big but), we have thoroughly enjoyed those trips, and if we had it to do over again...we would.

We actually bought in after turning 50, and now we are in our mid 60's with no regrets other than not buying in a bit sooner. It has been 14 years of wonderful pre-paid accommodations, and that is the key to understanding DVC. You have to think of it like owning a vacation home....There are maintenance fees etc attached to it, but if it's cheaper than owning and maintaining a house or paying for a Disney resort a couple of times a year, it's a definite savings. For us, that part has been a "no brainer".

We LOVE our DVC!

 

[JWG]

DVC is our "cabin on the lake" or "vacation home". Granted, one we don't visit nearly as often - but that's hard when you're 1400 miles away.

I do feel the current buy-in costs are out of line, but that's a supply/demand issue driven by the market.

We were fortunate enough to enjoy 11 years of DVC before having to invest a penny thanks to very generous parents who bought in after I was already out of college and allowed us to crash their parties. We only recently made our purchase(s) in the last year and will use our first points in October. I was actually thrilled when my mom sheepishly asked if they could use our points for their Januay trip. It felt nice to give back.

We chose to title our deeds such that my parents and my wife and I are on all 3 (hopefully soon 4) contracts so we can pool points. All same use year, theirs at BWV and ours at BLT. We love having home resort booking in two different areas and love that we can bank/borrow if we'd like at one resort to get bigger/longer stays.

My regret is not planning and saving to make this purchase sooner when prices were lower. I knew I wanted to buy into BLT in 2007 when the "mysterious tower of nothingness" was under construction and it took us 3.5 years to make that purchase. Even then, we only purchased about 25-33% of the points we ultimately want there. Hence we have a contract in ROFR already that would get us to 50-75%. I'm one of the "won't finance" people, so that's part of it.

 

[jesschris]

My wife and I have been very happy with our purchase. We love knowing that every year we have at least one Disney trip to look forward to. No regrets.

 

[crisi]

Crisi is one of those I admire because they have kept to their original plan from the start.

There isn't any value in sticking to a plan if the plan doesn't give you what you want. We had some advantage in knowing ourselves pretty well going in, and doing a pretty good job of projecting out. But if your desires change, or your circumstances change, there isn't anything wrong with changing the plan. However, you need to plan for it to be changeable. Buying a 500 point monster contract out of the gate doesn't leave you a lot of flexibility to "go smaller." You can always add. Selling is harder.

 

[Sammie]

Have to agree with Crisi about the difference in a DVC stay and a cash stay even at DVC resort.

There is a very noticeable difference, and truly if DVC is the current cash cow for Disney, it should not be that way.

We should be valued way more than we are. When we bought in I felt we were valued. I feel now like a number.

I am hoping that if there is ever a change in upper management it will improve. Maybe, maybe not, time will tell.

Our plan worked when we bought. Circumstances such as losing II to RCI, point reallocation, banking changes which really messed us up, job changes, health issues with family, changed our way we vacation.

We will have to readjust or rent or sell. Right now renting is looking like a better financial situation.

Plus I have to sometimes wonder, was everyone timeshare savvy when you bought and knew everything there was to know about the limitations, the possible changes or did you learn along the way like we have and simply don't mention you had no idea how much could change when you bought.

Was everyone an expert?

We bought Disney because we felt it was a brand name we could trust. We learned the hard way it wasn't.

Surely others felt that way too, and we were not the only ones that did not know all prior to purchase.

For one thing when we bought we did not have Internet.

 

[Pakey]

Have to agree with Crisi about the difference in a DVC stay and a cash stay even at DVC resort.

There is a very noticeable difference, and truly if DVC is the current cash cow for Disney, it should not be that way.

We should be valued way more than we are. When we bought in I felt we were valued. I feel now like a number.

I am hoping that if there is ever a change in upper management it will improve. Maybe, maybe not, time will tell.

Our plan worked when we bought. Circumstances such as losing II to RCI, point reallocation, job changes, health issues with family, changed our way we vacation.

We will have to readjust or rent or sell. Right now renting is looking like a better financial situation.

I agree. My 500 points are broken into 3 contracts. Initially, the idea was that one contract would go to each child. But not one of the 3 grew up to like vacationing at WDW and my husband and I have changed our vacation ideals (we prefer venturing off into the unknown rather than returning to the same place time and time again). So I think we are at the point where we are ready to sell. Thankfully, we own BCV which has held its value over the years.

 

[Sammie]

I agree. My 500 points are broken into 3 contracts. Initially, the idea was that one contract would go to each child. But not one of the 3 grew up to like vacationing at WDW and my husband and I have changed our vacation ideals (we prefer venturing off into the unknown rather than returning to the same place time and time again). So I think we are at the point where we are ready to sell. Thankfully, we own BCV which has held its value over the years.

Yes Thankfully our contracts are broken up also. At this point I would not even considering selling my HHI one. The others probably so.

 

[crisi]

I agree. My 500 points are broken into 3 contracts. Initially, the idea was that one contract would go to each child. But not one of the 3 grew up to like vacationing at WDW and my husband and I have changed our vacation ideals (we prefer venturing off into the unknown rather than returning to the same place time and time again). So I think we are at the point where we are ready to sell. Thankfully, we own BCV which has held its value over the years.

I think this concern over "having enough points for our kids" is often a little shortsighted. It SOUNDS like a great and fair idea at the time, and its a generous thought. But kids don't always grow up to want or be able to afford regular Disney vacations.

I think the best way to avoid regrets is to look at this as a "ten year" thing. Don't worry about what happens in 2042 (or whenever contracts expire), whether you can will them to your kids (you can). At the same time, don't assume you need to buy BLT to be near the Magic Kingdom because that is where your three year old spends all her time. You'll blink, she'll be thirteen, and wanting to spend all her time at Typhoon Lagoon.

If you can get value out of it over ten years, its probably a pretty good deal. If you can't, its probably not a good deal. And if you are looking at it as something that is going to bring you joy for fifty years - I hope it does - but your crystal ball is way better than mine.

 

[Tiger926]

I think this concern over "having enough points for our kids" is often a little shortsighted. It SOUNDS like a great and fair idea at the time, and its a generous thought. But kids don't always grow up to want or be able to afford regular Disney vacations.

I think the best way to avoid regrets is to look at this as a "ten year" thing. Don't worry about what happens in 2042 (or whenever contracts expire), whether you can will them to your kids (you can). At the same time, don't assume you need to buy BLT to be near the Magic Kingdom because that is where your three year old spends all her time. You'll blink, she'll be thirteen, and wanting to spend all her time at Typhoon Lagoon.

If you can get value out of it over ten years, its probably a pretty good deal. If you can't, its probably not a good deal. And if you are looking at it as something that is going to bring you joy for fifty years - I hope it does - but your crystal ball is way better than mine.

This is great advice! We too tried to figure out a lifetime of vacations too, and as you know from my other thread, things change.

You give good advice here, Tiger

 

[Buckeye Fan]

... Don't worry about what happens in 2042 (or whenever contracts expire), whether you can will them to your kids (you can). At the same time, don't assume you need to buy BLT to be near the Magic Kingdom because that is where your three year old spends all her time. You'll blink, she'll be thirteen, and wanting to spend all her time at Typhoon Lagoon.

Truer words have never been spoken. It feels like we blinked, the kids grew up, AND they want to go to the water parks!!!

...I think the best way to avoid regrets is to look at this as a "ten year" thing...If you can get value out of it over ten years, its probably a pretty good deal. If you can't, its probably not a good deal.

We just sold two SSR contracts and bought three 2042 OKW contracts. I still feel like it's not as good of a deal, but we did it to possibly get GVs as we get older. To Crisi's point, we will be in our 70s by 2042, and who knows what will happen by then. For the next 10-15 years, DVC will work great for us. If we decide to sell and sell for nothing, which I hope is not the case, but if it happens, I won't regret owning for a moment. We've paid more for a car than our membership and had a heck of a lot less fun!!! This is truly a great way to look at it. We never know what the future holds.