Buying at VB and not intending to stay there??

[amystevekai&bump]

Hi - Someone I know is considering buying at VB, but not intending to stay there. I have warned them about the 7month rule and whether they would be happy there if they can't get into a WDW property.

But I had also read on here about the slim (and I know its very slim) chance that Disney could sell off VB, or also that they could decide not to rebuild it in the event of hurricane damage.

I tried to do a search and whilst I saw a post that touched on this, I couldn't find anything else.

Could someone let me know if I have got this right, or if I have misunderstood!!

Thanks ever so much!!

 

[browniemtb]

The 7 month rule can be pretty big especially during specific times of the year. Also if I am not mistaken VB has one of the highest maint. fee which will evntually lead to paying as much if not more than at an actual property in and around MK. So after so many years that initial savings will be gone......

 

[dianeschlicht]

You also need to be aware that VB dues are SIGNIFICANTLY higher (probably due to hurricane damages and threats), so your initial savings with a lower buy in price will quickly be irradicated with higher maintenance fees. Remember, those maintenance fees are the biggest overall cost of DVC....they far outdistance the purchase price over the course of the contract.

 

[crisi]

Add in the shorter term than you'd get with the relatively low price/low maintenance fees but lengthy contract that you get with SSR and VB stops looking like a bargain at all - unless you are old enough not to care about the 10 years.

 

[wildernessDad]

Over time, dues is the main cost driver, so if your friend is looking to save and keeping the property for a long time, then he/she should buy where they want to stay. I've inserted my opinion.

 

[amystevekai&bump]

thanks everyone!! I totally agree with everything you are saying, I was just wondering if anyone had anymore info about my other two points??

I have read on here that VB could (although highly unlikely) be sold off. Plus a poster also said that in the awful event of a destructive hurricane, Disney could decide not to rebuild and just split the insurance proceeds with the owners instead.

I have relayed this info, but was wanting to know if I have indeed understood it correctly and if so, where I could find this info to show them??

thanks again!!

 

[crisi]

thanks everyone!! I totally agree with everything you are saying, I was just wondering if anyone had anymore info about my other two points??

I have read on here that VB could (although highly unlikely) be sold off. Plus a poster also said that in the awful event of a destructive hurricane, Disney could decide not to rebuild and just split the insurance proceeds with the owners instead.

I have relayed this info, but was wanting to know if I have indeed understood it correctly and if so, where I could find this info to show them??

thanks again!!

I believe both pieces of information are buried in the contract documents. I know that the "insurance and rebuild" is in there. Also the "Disney can limit you to only your home resort" is buried in there somewhere.

 

[amystevekai&bump]

I believe both pieces of information are buried in the contract documents. I know that the "insurance and rebuild" is in there. Also the "Disney can limit you to only your home resort" is buried in there somewhere.

thanks ever so much!!

 

[Jason@dvcstore]

You also need to be aware that VB dues are SIGNIFICANTLY higher (probably due to hurricane damages and threats), so your initial savings with a lower buy in price will quickly be irradicated with higher maintenance fees. Remember, those maintenance fees are the biggest overall cost of DVC....they far outdistance the purchase price over the course of the contract.

FYI: Be advised that there are some contracts at Vero Beach that have subsidized dues. These dues I believe for 2009 are $4.24 vs. $6.41 for the normal contracts at Vero Beach. If you purchase a Vero Beach contract with subsidized dues you will have those same subsidized dues.