Anyone regret buying DVC?

[gmboy95]

1) I spend $3,000 on patriots season tickets....and $40 to park at each game

2) I once spent the same going to see a superbowl

3) I spend ridiculous amounts of money to make my grass green

4) I spend hundreds of dollars on ridiculous christmas gifts that end up collecting dust in my basement

5) swim lessons, gymnastics, summer camp, music lessons etc...

6) I actually pay to eat inside disney restaurants

7) sattelite, high speed internet, mulitple cell phones (with roloevr minutes), DVD for the mini-van, ridiculous amounts of DVD's that get watched once...


Point being that we all waste exorbinant amounts of money on some pretty silly stuff....and when it is all said and done, the one thing that brings the most joy to my family is that one week a year we spend at disney....I am happy to waste that money!!!!

 

[stingmom]

not buying SOONER!!

 

[Y-ASK]

Cost wise, it clearly makes no sense. You can rent DVC points for far less money per stay (no matter how often or how infrequently) than any "ownership" of points. Low cost DVC rental points are abundant during any time of the year.

This may be true if you're searching for distressed points (points in a holding account or about to expire or etc.) but for the most part you're lucky to find points at $9.00 and if you are looking for distressed points you're going to have to setup your reservation based on the limitation of those points. Having just come back from a stay at AKL after renting some distressed points, I wish we had just used our own points and stayed in a 1 or 2 Bdr at OKW. Sure I got a great deal but I did not really enjoy the room or the Lodge.

I really don't think very many DVC owners bought in thinking of it as an investment so it's really not reasonable to compare ownership with an investment. But if that's what you want to do here's a comparision for you.

I bought 200 Pts at SSR when they were offering you an extra 200 pts to close the deal. Paid something like $16,000.00 (can't remember exactly). Got 400 2004 Use-Year points. Rented at $10.00 per point as many as I could borrow which was something like 800 pts total in less than 2 months. (400 from 2004, 200 from 2005 and 200 from 2006). So my current net cost was $8,000.00 for that 200 pts SSR contract. Used that money to pay maintenace fees for the SSR and OKW contract that I own and then invested the money in a Fidelity Roth account.

Here's the comparision; I was concerned about if I made the right move by not investing the entire $16,000.00 into something else so I've been following my Roth almost daily and after about 5 months my Roth investment is now worth -$18.20 less than it was 5 months ago. So much for that magic 8% that investors keep talking about.

I've gained alot of knowledge over the last six months and I have some regrets but not with my DVC purchase. I regret staying in a simple hotel room at AKL and having to eat out every night when I could have not gone cheap and stayed at OKW in a 2 Bdr.

The main difference between a DVC purchase and a regular timeshare is that there is a larger resale market for the DVC property and plenty of buyers so if I wanted to sell that SSR contract I could do so and probably come out ahead in a very short period of time say 12-14 months.

Y-ASK

 

[adriannabannana]

Like many others have said, my only regret is that we spent all that money honeymooning in WDW, instead of buying into DVC. I can't wait until we are able to add more points to our holding, though we have greater fish to fry at the moment.

In the last five years, we've gone on three long, wonderful, vacations, and brought family with us two out of three times. Basically, the way I've figured it, the membership paid for itself on the last trip, so this year is all gravy.

I'd sooner sell off a limb than my DVC membership. The look on my daughter's face on the last trip down was worth every cent we paid, and I get to look forward to years of this. The best part is that we have total control over when we go, where and for how long. That beats the tar out of renting points, IMHO.

 

[jiggerj]

3) I spend ridiculous amounts of money to make my grass green

LOL!!! too funny and too true!

Point being that we all waste exorbinant amounts of money on some pretty silly stuff....and when it is all said and done, the one thing that brings the most joy to my family is that one week a year we spend at disney....I am happy to waste that money!!!!

I agree with you 100 percent plus. I have never been so happy to spend so much money especially in one shot! I am really looking forward to spending time with my family in Disney...thats what I spent the money for.

 

[Duckfan-in-Chicago]

3) I spend ridiculous amounts of money to make my grass green

Is it working? Any tips? My neighbors are all retired, and have baseball fields on their lawns. I think the one guy is hand watering his lawn at about 4 am every day. I don't have the time or the AARP discount to compete. I think they mock me openly.

 

[reedycreek]

I'd sooner sell off a limb than my DVC membership. pointsQUOTE]


thats too funny, you really are into it!

 

[SonicLogic]

In fact, most people will tell you that it is now difficult to rent points at $10 a point. It is easy to assert something as a fact, however, if you do not have to proof to back it up I would have to say it is your opinion.

Perhaps I should send you my canceled check?

Well, I have actually seen DVC points listed for $2.50, but I've never taken advantage of those situations. As we know, the asking price for DVC points is $10.00. I have no doubt that many people pay $10.00 per point to rent at the DVC. I have never paid that amount. DVC rental points are ubiquitous year round. DVC rental points are not hard to find. Look at the DIS to see the many offers! I have never rented DVC points from the DIS boards because far better deals exist elsewhere. I have never in my life paid the "asking price" for anything. If I can't get a 40% to 50% discount, then I don't buy DVC points. I'm going to WDW next week on rented DVC points ($5.23 per point) and I'll be there for a week at OKW.

 

[gjw007]

Well, I have actually seen DVC points listed for $2.50, but I've never taken advantage of those situations....I have never in my life paid the "asking price" for anything. If I can't get a 40% to 50% discount, then I don't buy DVC points.

People who sell their points for $2.50 either are desperate to sell their points or are unaware of other options. Sad. I think that the price should be negotiated between buyer and seller but I would pass when somebody demands a 50% discount.

 

[JimFitz]

I am an ownwer, but I also rent points alot in order to bring friends or send my wife and the kids down alone. Can you tell me where you look to rent points other than DIS? If you dont want to post here, you can send me a PM. THANKS!

 

[Luigi's Girl]

I have never rented DVC points from the DIS boards because far better deals exist elsewhere.

Please share this information with us if you don't mind. We're all friends here!!!

 

[SonicLogic]

People who sell their points for $2.50 either are desperate to sell their points or are unaware of other options. Sad. I think that the price should be negotiated between buyer and seller but I would pass when somebody demands a 50% discount.

Of course, negotiation is the key. I don't "demand" a 50% discount. I just look for the best value. It's not unlike renting a car or a house. The renter puts a price tag on their item and I make an offer. They can accept, reject or make a counter offer. Going out for bids is a very common practice as is looking for discounts. It's also a very common practice for people to inflate their asking price for rental property in the hope that inexperienced purchasers will pay the high price.

I just make an offer. It's up to the owner to determine if my offer meets their needs. If the answer is yes, we have a deal. If the answer is no, I counter the offer or perhaps move on to the next offer. I'm a bargain hound!

 

[DizneyNutz]

I understand---we haven't even made our first trip home and I am already thinking add-on---add-on---add-on! I think it's an addiction.

 

[DVCconvert]

I just make an offer. It's up to the owner to determine if my offer meets their needs. If the answer is yes, we have a deal. If the answer is no, I counter the offer or perhaps move on to the next offer.

That sounds alot like;

"It's my way, or the highway".

 

[robinb]

I just make an offer. It's up to the owner to determine if my offer meets their needs. If the answer is yes, we have a deal. If the answer is no, I counter the offer or perhaps move on to the next offer.

That sounds alot like;

"It's my way, or the highway".

I don't see why you and others need to pick on SonicLogic. As a buyer it is up to him to negotiate his best deal possible. As a seller it is up to me to negotiate my best deal possible. If he can negotiate a week at OKW for $5.23 per point, then more power to him. For goodness sake! He didn't hold a gun to the seller's head and say "Sell me all your week at OKW for $570 or I'll shoot you!" I have been on both sides of the DVC point selling/buying equation. Do I pay $10 per point? Nope. I usually buy distressed points to round out my weekends v/s moving to another resort and I usually pay less that $6 each. Do I sell for $10 a point? You bet. In fact. I'm thinking about raising my price to $11 per point. When someone tries to low-ball me, I just say "No thank you" and that buyer moves on to someone else. As both a buyer and a seller I get my best price.

As for SonicLogic's assertion that DVC is not a good value, if he can rent happily at $5-$6 per point he's absolutely right. Why buy the cow when you can get the milk for almost free? It works for him and I don't see why we, as DVC owners, should even care.

I can tell you why we bought the DVC cow. Back in 1997 we did a full financial analysis of DVC before we paid cash for our 230 OKW Resale. We determined that we would pay about the same per night in an OKW studio as we would for a room in a moderate resort. We had the cash and the upgrade was a no-brainer for us.

 

[DVCconvert]

robinb:

Do I pay $10 per point? Nope. ...{snip}... Do I sell for $10 a point? You bet. In fact. I'm thinking about raising my price to $11 per point.

A part of my position is that what's fair is fair. As an employer, there isn't a job or duty that any of my employees do that I wouldn't (or haven't) do/done.

It's a sort of 'golden rule' thing in my mind. I've actually purchased homes and buildings before from people who were in distressed situations. I would not sleep well at night if I paid them less than 80-90% of a fair value, simply because they were in distress.

That is reminiscent to me of the bibical lessons of the money changers - not to pay a fair price for a product of value. I am not saying one cannot or should not "profit" from 'saving' some expense, or 'lossing' a little value (on aging points) to salvage some cash; but the degree to which, in my mind, determines the ethics of the transaction. Personally, if I could use the points that were being offered, a 20% 'discount' would be about the lowest I would pay someone, as I would think that fair to both parties.

 

[drakethib]

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

My wife and I did the tour at WDW about 5 years ago on our honeymoon. At the time I told her that it was way too much money and would never be worth it.

We made a couple of trips back to Disney and I began to see the "upgrade" (I didn't say cheaper) resorts that Disney has in DVC.

After a trip to Las Vegas then to the Biltmore in Phoenix, due to the poor service at both places I swore I would never vacation anywhere again except Disney properities.

2 weeks later we put a bid in for OKW from the TTS and and have enjoyed every minute of it.

With that being said, do I beleive DVC is a money saver? Yes, in the long run I think it will save us money in theory, but I also know that we will be making more trips to Disney because of DVC so we will be spending more money.

Would I buy it again? Yep in a heartbeat.

 

[robinb]

robinb:

A part of my position is that what's fair is fair.

I don't see anything unfair about two people agreeing on the price of something.

That is reminiscent to me of the bibical lessons of the money changers - not to pay a fair price for a product of value.

Let's leave biblical "lessons" out of the discussion.

Personally, if I could use the points that were being offered, a 20% 'discount' would be about the lowest I would pay someone, as I would think that fair to both parties.

To say that 100 points that are distressed in some way have 80% of the value of points that can be used at the 11 or 7 month window is ridicules. By distressed I mean points that are in holding, points that expire soon or points that were used to book a non-DVC reservation and cannot be used for a DVC resort. At the 11 or 7 month window the DVC world is your oyster and you can stay just about anywhere you wish. At 60 days in advance your options are usually limited to OKW and SSR as VWL, BWV and BCV are usually fully booked on the less expensive weekdays and sometimes even on the weekends.

If someone wants to re-coop their maintenance fees on points that would go *poof* at the end of the month, that is their prerogative. If I am willing to travel at the last minute and stay at a resort that is not my first choice on distressed points and save some money, that is my prerogative. If you want to offer someone $8 per point, that is your prerogative. But that doesn't make you morally superior .

 

[DiznEeyore]

Let's leave biblical "lessons" out of the discussion.

Why? Just because it means nothing to you doesn't mean it doesn't figure into how others on the board approach things. Pointless inflammatory comment robinb.

 

[giants77]

Laura,
DVC is awesome. We joined this year and are already going back in Aug. its a great thing and really great for your kids some day. I would def join up especially now because the longer you wait the more costly it is for points.

Write me
Mike