Buyer’s Remorse

[EM Lawrence]

I chatted with a cast member over the weekend who told me I could, because I fall into that category (DVC reservation January 2021 but no tickets yet).

That is good news! There has been so much confusion!

 

[justadreamaway77]

I just feel the need to say again how much Reflections going away breaks my heart. I have long wished for a Wilderness style resort with Beach Club’s lazy river, and the initial designs planned to deliver on that - and unique accommodations like cabins and treehouses for those times we decide to bank and borrow to do something special. It was pretty much everything I’ve wanted in DVC at a location I love!

You are obviously not a fan of FW then because Reflections was/is going to destroy the entire vibe of that resort. FW lovers are rejoicing at the rumor of Reflections not happening or at least delayed, maybe they can open the pathway between FW and WL now!

 

[RachStu]

We were in the same boat and decided to back out of our contract, forfeiting our deposit and exposing ourselves to the agent's commission. Sadly our circumstances have changed during the last three months and we simply didn't have the spare funds to proceed with the purchase. Whilst we have lost money I'm still pleased with the decision we made. It was the right one for us. We had bought these additional resale points with the intention of renting them out for the next 12-18 months (the contract had lots of banked points) and I think that would now be a lot more difficult with all of the current restrictions and changes.

 

[Lorana]

You are obviously not a fan of FW then because Reflections was/is going to destroy the entire vibe of that resort. FW lovers are rejoicing at the rumor of Reflections not happening or at least delayed, maybe they can open the pathway between FW and WL now!

Well, yes, similar to how much I initially hated CCV because of how it cut down all the trees and made WL a little less “wilderness,” I wasn’t initially a fan of putting a resort right at the waterfront of FW. But Disney was doing it anyway, and at least they were going to build a resort in the style and with the extras I’ve long wanted. And it would mean being able to easily walk to Hoop de Doo and Tr-Circle Ranch. We’ve never camped at Disney, but we stayed in Cabins several times when the kids were young - in fact, it’s where we stayed the first time we did a “resort only stay” because it just had so many fantastic activities that reminded me of summer camping. We’ve loved it.

Heck when it comes to being upset and mourning over things Disney has done, I still haven’t gotten over them closing the Adventurer’s Club or never opening the Land of Mythical Creatures in the Animal Kingdom. ;-)

I do hope this means the path reopens for a time!

 

[Goddard Family Adventures]

We were in the same boat and decided to back out of our contract, forfeiting our deposit and exposing ourselves to the agent's commission. Sadly our circumstances have changed during the last three months and we simply didn't have the spare funds to proceed with the purchase. Whilst we have lost money I'm still pleased with the decision we made. It was the right one for us. We had bought these additional resale points with the intention of renting them out for the next 12-18 months (the contract had lots of banked points) and I think that would now be a lot more difficult with all of the current restrictions and changes.

Sorry you had to make this tough call. How far along were you in the process when you did this?

 

[RachStu]

Sorry you had to make this tough call. How far along were you in the process when you did this?

A few days before the final day to make payment.

 

[Bearval]

I want a vaccine as much as the next person, but I also know a ton of people involved in medical research and clinical trials, and my concern is just that if a vaccine is found and being manufactured by April 2021, it also means they've skipped a LOT of the safety clinical trials steps that exist to ensure it doesn't cause horrific side effects to get it out the door.

They make a "new" flu vaccine every year I do not think it is so much as skipping safety trials as much as the effectiveness of the vaccine.

 

[heynowirv]

think most of my anxiety is not being able to rent or use the banked points this year. We had every intention of renting the banked points and banking this years points. With everything up in the air I'm not sure that's possible? So to answer your question, you are not alone.

If people bought points to enjoy with their families the anxiety of renting might not be so high. I honestly don't understand that mindset. DVC (although a business ) was created to be a reasonable way to have family vacations for years. I know when we bought it was for the love of Disney and to bring our children year after year. Renting was never a thought when purchasing.

 

[Goddard Family Adventures]

If people bought points to enjoy with their families the anxiety of renting might not be so high. I honestly don't understand that mindset. DVC (although a business ) was created to be a reasonable way to have family vacations for years. I know when we bought it was for the love of Disney and to bring our children year after year. Renting was never a thought when purchasing.

I don't think you are understanding my post. We plan on using our points every year except this year. We bought a 155 point contract that has 310 points available right away. The plan was to rent 155 points that were banked to recoup part of the cost. Doing this really lowers the cost per point in our eyes. We paid $110 per point and by renting the banked points, we essentially paid $95 per point. The great thing is we are planning on banking the other 155 points and inviting both sets of grandparents for a trip in May using the banked points and our points coming. That's the great reason to buy a front loaded contract in my opinion. Also with everything going on, you wouldn't catch me down there wearing a mask in 90 degree heat. It's a personal preference I guess, but I'm not dealing with my kids whining about it. Nor do I want to subject myself to that.

 

[heynowirv]

I don't think you are understanding my post. We plan on using our points every year except this year. We bought a 155 point contract that has 310 points available right away. The plan was to rent 155 points that were banked to recoup part of the cost. Doing this really lowers the cost per point in our eyes. We paid $110 per point and by renting the banked points, we essentially paid $95 per point. The great thing is we are planning on banking the other 155 points and inviting both sets of grandparents for a trip in May using the banked points and our points coming. That's the great reason to buy a front loaded contract in my opinion. Also with everything going on, you wouldn't catch me down there wearing a mask in 90 degree heat. It's a personal preference I guess, but I'm not dealing with my kids whining about it. Nor do I want to subject myself to that.

I know I ranted a bit .It wasn't you personally but what I've seen lately on these boards are people who are buying up 500- 600 point contracts and then talking about the rental market. We bought our first contract at OKW it was 190 points at 73. a point. Our kids were early tweens and we had some amazing vacations. Now we have a grand daughter and can't wait to take her as well.... That to me was/is the essence of DVC.

 

[_Iowa_]

I know I ranted a bit .It wasn't you personally but what I've seen lately on these boards are people who are buying up 500- 600 point contracts and then talking about the rental market. We bought our first contract at OKW it was 190 points at 73. a point. Our kids were early tweens and we had some amazing vacations. Now we have a grand daughter and can't wait to take her as well.... That to me was/is the essence of DVC.

It isn't even a good idea. If you do the math you're much better off buying what you need. The trick, of course, is knowing what that number is beforehand. We started out looking at 150 pt contracts and ended up at 350 but have no intention of renting. Who knows? We might buy more.

I'm not saying I'd never rent if something came up but it'd have to be the rare exception. When you factor in TVM the difference between rental price and dues does not make sense to plan on it. You're wasting money.

To clarify, I'm solely talking about this as a habitual plan, not at all what you're talking about @Goddard Family Adventures. We also looked at a loaded contract and we'd have had to rent out a portion of the 2019 points most likely.

 

[RachStu]

I don't think you are understanding my post. We plan on using our points every year except this year. We bought a 155 point contract that has 310 points available right away. The plan was to rent 155 points that were banked to recoup part of the cost. Doing this really lowers the cost per point in our eyes. We paid $110 per point and by renting the banked points, we essentially paid $95 per point. The great thing is we are planning on banking the other 155 points and inviting both sets of grandparents for a trip in May using the banked points and our points coming. That's the great reason to buy a front loaded contract in my opinion. Also with everything going on, you wouldn't catch me down there wearing a mask in 90 degree heat. It's a personal preference I guess, but I'm not dealing with my kids whining about it. Nor do I want to subject myself to that.

This is exactly our position. We originally bought in 2007. During a trip this Dec/Jan we decided we would top up with some resale points. We didn’t intend to travel again until 2021 (as we come from the UK). We found a heavily loaded contract selling for the price of a non-loaded contract so it made sense to buy that contract and recoup some of the costs. Indeed this allowed us to buy more points than we otherwise would have. It was only the 2018 banked points and 2019 points that would be rented. Whilst we didn’t buy with long term renting in mind, renting this year did form part of our decision.

Edit - we also have a two year old so wouldn’t want to travel at the moment as there is no way he would wear a mask!

 

[Rob Huff]

Never forget: nobody knows what's going to happen with prices/markets. DVC could drop dramatically in the coming weeks/months/years...or it may have already reached its low point.

Look at the stock market from March compared to now. Nobody knew what was going to happen because, well, nobody ever knows.

 

[Goddard Family Adventures]

It isn't even a good idea. If you do the math you're much better off buying what you need. The trick, of course, is knowing what that number is beforehand. We started out looking at 150 pt contracts and ended up at 350 but have no intention of renting. Who knows? We might buy more.

I'm not saying I'd never rent if something came up but it'd have to be the rare exception. When you factor in TVM the difference between rental price and dues does not make sense to plan on it. You're wasting money.

To clarify, I'm solely talking about this as a habitual plan, not at all what you're talking about @Goddard Family Adventures. We also looked at a loaded contract and we'd have had to rent out a portion of the 2019 points most likely.

Yeah I thought it was actually a smart move in our case. No way do we plan on renting out any other points. I crunched the numbers and saw and opportunity to get points at $95 per point when it was all said and done (with points available to bank). Worst case scenario we use our 155 points that we thought we would rent. If there is any availability at Vero or HH we may look to do that. The stress comes from how long it's apparently taking to figure out what we are going to do. My wife is a teacher so getting time off for her is very hard. Since we are going in May she already has her days banked to be able to do that. So time is running out on getting use out of our 155 points this summer. Chances are over Christmas most places will be booked. If not we will look to maybe go somewhere then for a few days.

 

[Rob Troxel]

I’ve got my first contract (Poly) at ROFR right now, and I have to admit, I’m having some buyer’s remorse. Am I the only one? I have fears that post-Covid Disney will be significantly different than pre-Covid Disney. I’m also concerned that I bought in too soon, and that prices are going to go way down in the next 18 months. Maybe once I pass ROFR and get my points in my account I will get excited again. But right now I’m worried I made a mistake.

OK I think you made a mistake. We just don't know how the points value will settle out. Back out and lay in the weeds!

 

[SL6827]

I don't think you are understanding my post. We plan on using our points every year except this year. We bought a 155 point contract that has 310 points available right away. The plan was to rent 155 points that were banked to recoup part of the cost. Doing this really lowers the cost per point in our eyes. We paid $110 per point and by renting the banked points, we essentially paid $95 per point. The great thing is we are planning on banking the other 155 points and inviting both sets of grandparents for a trip in May using the banked points and our points coming. That's the great reason to buy a front loaded contract in my opinion. Also with everything going on, you wouldn't catch me down there wearing a mask in 90 degree heat. It's a personal preference I guess, but I'm not dealing with my kids whining about it. Nor do I want to subject myself to that.

We generally don't do Disney at all in the heat now. And I wouldn't be down there in a mask at all anytime of the year. It would be a no go completely, even in January. I agree, I think Disney will have people falling out left and right next month.

 

[Goddard Family Adventures]

We generally don't do Disney at all in the heat now. And I wouldn't be down there in a mask at all anytime of the year. It would be a no go completely, even in January. I agree, I think Disney will have people falling out left and right next month.

I thought the same thing about people passing out. But so far I don't believe that's been an issue at Universal. I guess we will see.

 

[Rob Troxel]

The real deal on how to value points is still very much in question. That is >> will the up and coming new rules - Disney experience -this summer, fall, and winter be enough to keep even die-hard Disney folks happy? Take a moment and write down all the things that drew you and your family there in the 1st place, then realize most if not all the differentiators will be missing! Dining? Parades, fireworks? Otherwise, you are just renting a very expensive park bench with not much to see. It looks like a good time to stay on the sidelines for the foreseeable future.

 

[ILoveMyDVC]

I’ve got my first contract (Poly) at ROFR right now, and I have to admit, I’m having some buyer’s remorse. Am I the only one? I have fears that post-Covid Disney will be significantly different than pre-Covid Disney. I’m also concerned that I bought in too soon, and that prices are going to go way down in the next 18 months. Maybe once I pass ROFR and get my points in my account I will get excited again. But right now I’m worried I made a mistake.

I think you are right to be concerned. Disney has set a precedent for how it will treat its DVC members with the ticket debacle and their total lack of communication. I would not buy DVC now. I've been a member for 27 years.

 

[ToddlerMom311]

I think you are right to be concerned. Disney has set a precedent for how it will treat its DVC members with the ticket debacle and their total lack of communication. I would not buy DVC now. I've been a member for 27 years.

The fact that your username is "ILoveMyDVC" makes this comment even more meaningful