Anyone regret buying DVC?

[DVCconvert]

Originally Posted by SonicLogic

No, you will not save any money by spending money! Obviously, that is just foolish.

Originally Posted by JimC

I disagree with your comments about no savings, not a wise place to tie up your money, and daily declining value.

We have spent less dollars after several years. Our points and maintenance fees cost us less than any discounted rate we could have gotten at the resorts. Same vacationing patterns except now we are in one bedroom villas instead of deulxe and moderate resort rooms. Compare the costs of each.

Sonic- Do the math and see who is being foolish.

Say you knew you wanted to spend 1 week each spring in a deluxe. For this purpose say April 10 - April 17 each year.

BWI rack + taxes per night = 532.80 x 7 nights = $ 3729.60

vs DVC ownership of 181 points (based on pts needed in '06 and pts bot resale at $81)

181 pts x 81 + assumuptions for closing costs = $ 15,000.
37 years remaining in plan. 15K divided by 37 = $ 405.41 divided by 7 nights = $ 57.92 per night.



Annual fees (based on current) 181pts x $ 4.41 = $798.21
$798.21 divided by 7 nights = $ 114.03 per night

Purchase + Fees per night costs = $ 171.95, or $ 1203.65 per the week

Rack + taxes for that same week = $ 3729.60

Cost savings per year = $ 2525.95 - about a 67% savings over rack.

In my best Mr. T voice: I Pity the Fool!

 

[krdisneybound]

We've been members for quite a few years now. No regrets at all. We bought after our honeymoon at WDW. I rarely bank any points either.

I have sold items on E-bay and received DVC points instead of $$'s for merchandise and that was the greatest. Hundreds of more points each use year is great for extra stays.

Stop pondering and wondering, jump right in and start having fun with the rest of us..

 

[Simba's Mom]

I guess that they are the ones reselling but, I was just wondering what your experiences have been. My Husband and I are considering buying, we got the vidoe and watched it today. I LOVE Disney and have been at least 11 times over the last several years. He likes it, but not as much as me, but he is willing to consider it, since I want to go to Disney at least every other year. THanks for your input, it is appreciated.
Laura

That describes us exactly when we bought. The fact that it was Disney didn't matter to DH, but it was OK and he knew it REALLY appealed to me. Now, 3 years later, I can see how he's becoming such a Disney fan, how he looks forward to our vacations at DVC, what a wonderful change! He'll never be as much of a Disney fan as me, but as he says, "that would be quite a stretch!"
So, in answer to your question about regret, no, I'm very happy we bought, and I can tell, so is DH (if possible, I think he's alot happier than me or than he ever expected)

 

[jjbonomo]

Laura,

Regrets, how could you regret regular vacations to a Disney Resort. My family and I just completed a four day Disney Cruise, coupled with a three day stay in the parks and without question, it was the best vacation of our lives. I've been a DVC member since 1996 and ditto the remarks of others in this thread. I should have bought more points sooner. It's been great for my family, hopefully it will be great for yours. Good luck with your decission!

 

[crisi]

The people who regret it don't post here. Sometimes we get a glimmer:

1. They were happy offsite or in values or moderates. So DVC doesn't save them money, ends up costing more, and doesn't add value for them.

2. They liked getting bargains on codes and deals. Whenever Disney has a good deal (like free dining or the Fairytale package) some DVC members feel they are getting the short end of the stick.

3. They miss their regular resort and the "hotel." DVC IS A TIMESHARE. Its a nice timeshare, but it isn't a hotel. The hotel based DVCs (BCV/VWL/BWVs) are more hotel-like, and most DVC members like the rooms more than a hotel room - regardless of DVC resort, but some people like daily maid service, two beds in a studio (instead of the pullout) and staying at the Poly or GF. I'm actually a little divided on this one myself. If it weren't for the kids, I'd rather stay at a regular resort and not a timeshare - its the additional rooms with kids that make DVC attractive to me.

4. Their financial circumstances change (or they bought spur of the moment while on vacation), and they can't afford it. Or their vacation habits change, or.....

5. They can't plan several months out. DVC works best if you book your home resort 7-11 months out and switch at seven. People looking now for rooms in early December are waitlisting for parts of their stay. That's unusual, but not unheard of.

6. They bought a large resort and hoped to stay at a small resort (or get BW Standard View rooms without owning there or Grand Villas at OKW). DVC says you can stay at any DVC resort, and you can. Based on availablity. We think there isn't and won't be huge problems for those that call right at seven months to switch, but it may be more of a hassle than you are looking for.

7. People who bought looking for perks. DVC perks are subject to change. Currently we get a great AP discount, but no other major park pass discount. There are some dining discounts, limited pool hopping privledges, sometimes a special pin. Disney does not reward DVCers loyalty with copious discounts and lots of pixie dust.

 

[Laurajean1014]

No, you will not save any money by spending money! Obviously, that is just foolish. The DVC is a very expensive prepaid vacation resort. If you have to finance the purchase, then you are really wasting a lot of money! Remember, you own no real estate interest with the DVC. When you buy the DVC, it's not worth much and then it goes down in value every day. It is neither an investment nor a wise place to tie up your money.

Totally wrong.

Please read prior to posting opinions.

 

[Luigi's Girl]

It is neither an investment nor a wise place to tie up your money.

I think it is a very wise choice to be able to vacation each year making family memories that will last a lifetime! Quite an investment in your family's future if you ask me!

 

[joepoe]

No, you will not save any money by spending money! Obviously, that is just foolish. The DVC is a very expensive prepaid vacation resort. If you have to finance the purchase, then you are really wasting a lot of money! Remember, you own no real estate interest with the DVC. When you buy the DVC, it's not worth much and then it goes down in value every day. It is neither an investment nor a wise place to tie up your money.

This is overstating it a smidge. You never save money by spending money, but if you are going to spend money on deluxe accomodations ANYWAY, DVC is the way to go.

If the only way you can get IN is by financing, it will be more expensive because of the interest, but up to this point, DVC has NOT gone down in value. Our 502 points cost us an average of $62 a point. What are they going for now?

It is NOT an investment, whether it is a wise place to tie up your money is up to you and what you want to do with your life.

 

[Steve's Wife]

They say it's not the things you do in life that you regret, but the things you don't do...
We regret not buying into DVC earlier -- duh! What were we thinking? It goes up in the hall of regrets, right next to not buying the brick in front of the Magic Kingdom when they were selling those!

 

[laura12581]

Thank you all for your input... a few questions:
1.We don't always have to stay in a deluxe...I've stayed at ASMovies lots of times and still have had fun, is it still worth it?

2. At this point, we wouldn't buy until Dec when we are there, because we are saving for Dh's new truck. We would also have to finance it, is it still worth it?

My concern is b/c I like staying in the other Disney Resorts and had wanted to try each of them at some point(all the moderates and deluxes at least). I have obviously never stayed in a DVC resort, and I guess it is sort of fear of the unknown.
Laura

 

[dianeschlicht]

Thank you all for your input... a few questions:
1.We don't always have to stay in a deluxe...I've stayed at ASMovies lots of times and still have had fun, is it still worth it?

2. At this point, we wouldn't buy until Dec when we are there, because we are saving for Dh's new truck. We would also have to finance it, is it still worth it?

My concern is b/c I like staying in the other Disney Resorts and had wanted to try each of them at some point(all the moderates and deluxes at least). I have obviously never stayed in a DVC resort, and I guess it is sort of fear of the unknown.
Laura

If it is still worth it can only be answered by you, and probably the only way to answer that is to have you visit and tour DVC on your trip in December. We stayed at both deluxes and moderates before buying DVC in 1997, and once we stayed even in a DVC studio at OKW, we knew there was no going back! I hated the moderates anyway, and never tried the value resorts. For us, paying cash was the "best deal", and if there is any way for you to use a home equity loan to do that, it too would make sense. We figure we had our pre-paid Disney vacations break even after about 5 years. Of course, we only paid about $62-$65 a point, but even with our dues of around $1200 each year, we still come out ahead. How else could we stay in a 2 bedroom villa for 10 days at a time? We feel the value is exceptional, and our only regret is that we didn't do it back in the fall of 1991 when we first heard about it.

 

[JimC]

Thank you all for your input... a few questions:
1.We don't always have to stay in a deluxe...I've stayed at ASMovies lots of times and still have had fun, is it still worth it?

2. At this point, we wouldn't buy until Dec when we are there, because we are saving for Dh's new truck. We would also have to finance it, is it still worth it?

My concern is b/c I like staying in the other Disney Resorts and had wanted to try each of them at some point(all the moderates and deluxes at least). I have obviously never stayed in a DVC resort, and I guess it is sort of fear of the unknown.
Laura

Laura,

Here is an alternative. It seems like you have visited at least once per year in the past. Consider this. Buy AP. Go visit and then visit again a year later ending the second trip on the last day of your AP. Two weeks on one pass. Use the AP codes to enjoy a full range of resorts. Then take a breadk i f you want and vacation elsewhere.

Prior to DVC we had stayed at nearly all of the resorts. Still do stay at non-DVC resorts, but only after the points are used. A second alternative is to buy a small resale to get you four weekday nights every other year (banking and borrowing) and then take an additional four nights on cash at another resort. Moving mid-vacation is easy. Bell services does all the work and it only costs you a couple of tips.

By the way when we first looked in 1992 we were saving to have a house built. The house came before DVC so we waited. Our mistake was waiting so long after the house was built. But live and learn.

Best wishes on your decision.

 

[Joe T.]

We bought in 1995. Our only regret, like so many others, is that we didn't buy sooner. We bought a Fairfield TS in 1993. We have enjoyed the FF, but nothing like the DVC. Also, consider that trading DVC points with II will give you an incredible selection of resorts. Not all TS trade equally. We have several friends that are constantly whining that they can't seem to get a decent trade for their cheapo TS.

We bought rather late, but it has given us the opportunity for wonderful reunions with all the grandchildren. You'll never regret the purchase. Your profile is exactly right.

 

[Man_Of_Leisure]

As stated in a previous post, you could check out a DVC resort before buying by staying in one. There are several ways to do this. You could rent points from someone on this board, you could go to ebay and rent, or you could take advantage of the AP discount as suggested earlier.

We too like staying at the different resorts and hotels that Disney has to offer; however, being a DVC member doesn't necessarily preclude you from still enjoying that possibility. You could purchase a small number of DVC points and bank and borrow to stay at a DVC resort every other year or so. Then in your off years you could try to catch a deal and stay at one of the other excellent Disney hotels. The possibilities are endless.

It sounds like you really want to become a member. So go for it. Figure out what you can afford and then take the plunge. As so many others have said, the only thing you will regret is not doing it sooner!!!

Man Of Leisure

 

[Joe T.]

I have to reply to Sonic. Way off base on the value going down. We bought in 1995 for ~$59 per point. Disney has kept the value up with their ROFR. I
expect that we could sell our points for $70 - $80.

I am not saying that a DVC purchase is the best investment of all time. However, owners know pretty close what a WDW vacation will cost 20 years in the future. There is no option to invest that would allow us to take the kinds of vacation that we have had the last 10 years.

Yes, it expires in 2042, but in the interim we, our children, our grandchildren, our great grandchildren will have enjoyed many great vacations at WDW and other resorts.

I would be happy to show you our past vacations. Perhaps in hind sight, you could show me where we should have invested the $15,000 plus ~$880 annual fees and been able to duplicate the experiences.

 

[unixadm]

See my post Doing the Math, The Real Cost/Savings

It really depends on how you plan on using the DVC, what type of vacations you would have taken if you were not members, and which you will take as members. The cost savings IS real and is big over the 48 years, for my family based off of what we have done in the past and what we plan on doing in the future. Each person must evaluate for themselves.

 

[crisi]

Thank you all for your input... a few questions:
1.We don't always have to stay in a deluxe...I've stayed at ASMovies lots of times and still have had fun, is it still worth it?

2. At this point, we wouldn't buy until Dec when we are there, because we are saving for Dh's new truck. We would also have to finance it, is it still worth it?

My concern is b/c I like staying in the other Disney Resorts and had wanted to try each of them at some point(all the moderates and deluxes at least). I have obviously never stayed in a DVC resort, and I guess it is sort of fear of the unknown.
Laura

Looking at your sig file, you really have only stayed Deluxe for your Honeymoon - unless you plan on changing your pattern, it isn't going to save money for you....particularly if you finance. However, if you are planning on changing vacation habits, it could. Or if your motivation to buy isn't saving money.

 

[Disney Doll]

No, you will not save any money by spending money! Obviously, that is just foolish. The DVC is a very expensive prepaid vacation resort. If you have to finance the purchase, then you are really wasting a lot of money! Remember, you own no real estate interest with the DVC. When you buy the DVC, it's not worth much and then it goes down in value every day. It is neither an investment nor a wise place to tie up your money.

You're not totally correct.

When we bought DVC, it was because we liked to go to WDW, and we liked to go at least 2x/year. And we liked to stay in at least a moderate, and preferably a deluxe, hotel.

My sense is that 2 trips per year every year over many years is going to ultimately cost us a lot more $$ than the DVC did. Now, we were able to pay it off within a reasonable period of time, so that "improved" our investment. We will actually be staying more years without owing anything other than the monthly dues.

We generaly stay in a 1BR,which gives us a full kitchen and a laundry, which gives us the ability to have breakfast in our room. That saves us some $$. Having the laundry saves me some packing...not a tangible $$ savings, but sort of an intangible benefit.

I believe that if we had to sell our DVC contract , which believe me wouldn't happen unless it was an absolute last resort...I'd stop eating first , we'd sell it at a profit, or at the very least a breakeven, based on what we paid for it in 1997, which was either $62.50 or $65.50 per point(I forget which).

Is it as good of an investment as say a solid stock? Well, from a monetary standpoint, obviously not.

But then again, for us, it's not all about money either.

To the OP, we have never, for one moment, even when money was a bit "tight", felt that the DVC was a bad investment. The memories we have made with family and friends, the enjoyment we have derived from it over the years make it worth it to us to won. It may not be your best financial choice, but it also won't be your worst. Especially if you are able to comfortably afford it.

 

[fletcher1964]

We viewed the DVC in Dec, 1991, 9 days after it opened. We went back and purchased in Jan, 1992. There was on one who that it was a good idea at the time. We have never, for 1 second, regretted our investment. It is an investment in your future vacations, which ours now include 2 kids. We would never be able to afford to vacation as often or nicely as we do. And although we've used our timeshare for the last 14 years, we could sell them today and make a huge profit over our basis.

 

[Disney Doll]

Thank you all for your input... a few questions:
1.We don't always have to stay in a deluxe...I've stayed at ASMovies lots of times and still have had fun, is it still worth it?

2. At this point, we wouldn't buy until Dec when we are there, because we are saving for Dh's new truck. We would also have to finance it, is it still worth it?

My concern is b/c I like staying in the other Disney Resorts and had wanted to try each of them at some point(all the moderates and deluxes at least). I have obviously never stayed in a DVC resort, and I guess it is sort of fear of the unknown.
Laura

1. If you think that for the next 40-something years, you will still be happy staying in a Value resort, even when you have kids and whatnot, then it may not be worth it. I can only speak for myself when I say that when I was younger, I was a lot less fussy about my accomodations. As I grow older, I find that I like a nicer resort, and am happy that I can afford one.
2. Well, are you considering buying now because there is some sort of incentive on points if you do? If not, then I am not sure what difference a few months would make. DH & I bought our contracts about 5 years apart.
3. I too like to stay in different WDW resorts. Right now, you have 5 different resorts within the DVC sysytem to choose from. Often, DH and I will end up spending a couple of nights in one of the other resorts before moving to the DVC resort, to conserve some points. So we do still get the resort variety aspect that way.