Buying over Renting??

[stargrl06]

We just returned from our first trip to AKV and loved it!! We have 2 kids, an infant and 5 year old, and LOVE to travel. We rented points, and the transaction exceeded my expectations.

We are considering buying into DVC, but what is the advantage over renting? I know some might say the 11 month window to secure what you need when you need it.
Can anyone let us know what makes ownership worth it to you? Would you ever suggest renting whenever they desire to go?
Is it worth it to have ABD and other hotels available to you through DVC? Thanks!

 

[RCM]

Well for one thing when you have the points paid for you won't have to come up with big bucks for vacation up to 2054 or longer. Believe me you will then be looking to add-on!

 

[stargrl06]

That's true...what about the options outside of the parks? Anyone have experience with ABD (I've heard it's expensive) or booking any of the other "300 hotels" Disney says you have access to with points?

 

[marymoon]

We stayed at AKV last October on rented points and absolutely fell in love with the resort. Renting points was very easy, cost-effective and we received DVC perks like free Internet and use of the laundry facilities, but we want to buy in so we'll always know that our points are *ours* to control. We want to make our own reservations and not worry about going thru anyone else if we need to add the dining plan or change our plans at the last minute.

 

[zmanandshan]

My $.02. Renting involves a trust factor on both sides. You most likely will not know the person you are renting from. It appears to be uncommon, but I personally would have a hard time trusting someone with that much cash changing hands. If it doesnt happen, great, but one bad experience is all it takes.

 

[jlewisinsyr]

...Renting points was very easy, cost-effective and we received DVC perks like free Internet and use of the laundry facilities...

The free internet should not have been availalbe, it is really only intended for owners staying on their points.

 

[Deb & Bill]

That's true...what about the options outside of the parks? Anyone have experience with ABD (I've heard it's expensive) or booking any of the other "300 hotels" Disney says you have access to with points?

All those non-DVC vacation require a lot of points. And there is no guarantee that you will get the location you want when you want it. The number of points required for those is negotiated every year so they can go up and they do go up. The number of points for a DVC stay are nearly static, but they can move the points around so that a night this year in a specific villa could be one point less or two points more, as long as the total number of points for the entire resort stays the same. Where one night goes up, another must go down.

If you have a member who will rent to you on a regular basis, there's nothing wrong with sticking with renting. The DVC perks aren't passed on to renters, but these change all the time. So don't buy into DVC because of the discount on APs. It could change tomorrow. But if getting a nice hotel stay are at a good price is all you need, stick with renting.

 

[marymoon]

The free internet should not have been availalbe, it is really only intended for owners staying on their points.

I completely respect that all amenities are supposed to be reserved for owners only. The front desk knew were were staying on rented points but we received the perks anyway. We even mentioned it again when we checked out expecting to pay for our daily Internet usage but again, we were told it was all included. I wasn't about to just drop cash on the front desk in protest. We were also told that the refillable mugs were good for life and we all know that's not true...

 

[ercrbc]

I completely respect that all amenities are supposed to be reserved for owners only. The front desk knew were were staying on rented points but we received the perks anyway. We even mentioned it again when we checked out expecting to pay for our daily Internet usage but again, we were told it was all included. I wasn't about to just drop cash on the front desk in protest. We were also told that the refillable mugs were good for life and we all know that's not true...

We rented last Sept and also enjoyed free internet, pool hopping and valet parking. We told the CMs we were renting, but no one cared. Our KTTW cards said DVC (and our names) and that was all they needed to see. I don't feel guilty at all for enjoying the perks. In fact, the perks and the accommodations really impressed us. Because of this experience we are waiting through ROFR right now and will hopefully have our own points soon. (and yes, I know the perks can come and go)

A reason we want to own vs rent isn't the cost savings. It's to make sure we do stop and take a vacation together every year, DH runs his own business and I really do have to force him take time off. This will make that battle easier for me since we will have already 'paid' for our stays And booking 11 or 7months out will be ideal for us. I am so excited for my kids to grow up having great memories of trips we take together to WDW

 

[js]

We love our timeshares.
We own a 3 bedroom at Waterside by Spinnaker in HHI, a 3 bedroom at Orange Lake Country Club in Orlando and 420 DVC Points at SSR
We sometimes trade our OLCC for beach vacations in Florida and really don't worry about paying for lodging any longer. Both the OLCC and HHI t/s will be given to my kids (whoever wants them) and DVC will expire eventually.
We are skipping the parks next year and already booked the Disney Dream 5 night cruise using our points. It's nice knowing I just have to come up with the spending money for the trips as well as the yearly M/F since all are paid in full.

It would be VERY VERY hard for my family of 4 (dd-16, ds-12) to ever stay in a small hotel room ever again. Even when we cruise, we get two cabins.

Enjoy whatever you decide.

 

[sara74]

A reason we want to own vs rent isn't the cost savings. It's to make sure we do stop and take a vacation together every year, DH runs his own business and I really do have to force him take time off. This will make that battle easier for me since we will have already 'paid' for our stays

Are we married to the same man????

THIS is why we bought DVC. Period. If we didn't have the points that would expire then DH would never leave the practice to go on vacation! Yeah for DVC!

 

[crisi]

If you get perks great, but when looking at buying over renting, you should be aware that Disney may choose to clamp down on perks to non members.

Then again, they can do away with all perks for members as well. NEVER buy for perks.

There is one current perk you can ONLY get as a member - the annual pass discount.

Buying gives you a lot more control over your reservation, makes the transaction a lot easier (you don't need to find an owner, etc., you just call member services). If you need to move your reservation around, you'll have the best information to be able to do that (it won't always be possible, but its more likely to be possible with your own points than with someone else's). You probably trust yourself not to take your money and cancel your reservation. Or not pay your dues and have Disney cancel your reservation.

On the other hand, buying is a long term committment. Choose to do something else this year?, you have to think about those DVC points. Money a little tight?, dues still need to be paid. Disney makes changes to their perks or their rules?, suck it up or sell.

 

[stargrl06]

Speaking of perks and incentives and discounts....what are some of the things everyone has received? Are there discounts for tickets and dining plans? We were on the DDP and it suited us nicely. I know about the cruise they are currently offering as incentive, is this typical?

How easy is it to book other hotels elsewhere on points? We have family all over the world.

THANKS for all of the GREAT info!!!

 

[js]

Speaking of perks and incentives and discounts....what are some of the things everyone has received? Are there discounts for tickets and dining plans? We were on the DDP and it suited us nicely. I know about the cruise they are currently offering as incentive, is this typical?

How easy is it to book other hotels elsewhere on points? We have family all over the world.
THANKS for all of the GREAT info!!!

If this is one of your big reasons to buy into DVC, I would suggest purchasing a different timeshare that is a very good trader. It won't be wise to purchase DVC to use mostly for trading outside of Disney Resorts.

I would STRONGLY suggest, before you purchase DVC or a strong timeshare trader, to go to tug2.net, register (I think it is about $15, I am also a member there) and read, read and then read some more. It is FILLED with very very useful information that you should read before making your purchase.

 

[lark]

I think, at the end of the day, it's very hard to justify buying any timeshare over renting. I've rented dozens of timeshares. Among other things, we've stayed on Main Street in Park City for the Sundance Film Festival and right on the ocean in Southern California. We're going to Atlantis this year at Harborside on a rental. With foresight and a bit of flexibility, you can often rent for not a whole lot more than maintenance fees, and rarely if ever double. I've also rented DVC.

I know a lot of people here run the economics, and if you do searches you can find posts that have them endlessly debated back and forth. My personal opinion -- and this always sparks passionate debate -- is that I don't think it's really that close for all but a few people. (Those who have concrete plans to go at regular intervals and don't plan on using their points for anything but DVC resorts.) Between the initial outlay of cash and the maintenance fees every year, you'd do much better putting all that money in the bank and then using that money to rent where you want to go each year. If you're financing to buy DVC, you're talking about a 20 year break even horizon. Or maybe a little less if you're ok with buying one of the older DVC resorts resale.

So, there it is. After reading all that, you'd think I'd never buy DVC. Yet I have. I bought BLT last year. Why? I can't really justify it economically. It's more about psychic satisfaction and control. Our family likes to plan and look forward to our vacations. It's part of the fun. Managing our points, and having the ability to make our own calls to Member Services is just worth it to us on a non-financial level.

 

[js]

I think, at the end of the day, it's very hard to justify buying any timeshare over renting. I've rented dozens of timeshares. Among other things, we've stayed on Main Street in Park City for the Sundance Film Festival and right on the ocean in Southern California. We're going to Atlantis this year at Harborside on a rental. With foresight and a bit of flexibility, you can often rent for not a whole lot more than maintenance fees, and rarely if ever double. I've also rented DVC.

I know a lot of people here run the economics, and if you do searches you can find posts that have them endlessly debated back and forth. My personal opinion -- and this always sparks passionate debate -- is that I don't think it's really that close for all but a few people. (Those who have concrete plans to go at regular intervals and don't plan on using their points for anything but DVC resorts.) Between the initial outlay of cash and the maintenance fees every year, you'd do much better putting all that money in the bank and then using that money to rent where you want to go each year. If you're financing to buy DVC, you're talking about a 20 year break even horizon. Or maybe a little less if you're ok with buying one of the older DVC resorts resale.

So, there it is. After reading all that, you'd think I'd never buy DVC. Yet I have. I bought BLT last year. Why? I can't really justify it economically. It's more about psychic satisfaction and control. Our family likes to plan and look forward to our vacations. It's part of the fun. Managing our points, and having the ability to make our own calls to Member Services is just worth it to us on a non-financial level.

Exactly!
I have trips planned for over a 1 1/2 in advance and looking for a cousin/aunt/uncle family reunion in 2012. We just love our t/s

 

[jodifla]

THe problem with renting is the lack of control. You are forking over a lot of money, and you have very little flexibility if you need to change plans. Not something I'm will do do with a grand or two each year.

I like to control my points. Also, as my DVC has been paid for many years, we only pay the dues now. Again, I'm glad I bought back when I did, when points were only $62!

 

[stargrl06]

If this is one of your big reasons to buy into DVC, I would suggest purchasing a different timeshare that is a very good trader. It won't be wise to purchase DVC to use mostly for trading outside of Disney Resorts.

I would STRONGLY suggest, before you purchase DVC or a strong timeshare trader, to go to tug2.net, register (I think it is about $15, I am also a member there) and read, read and then read some more. It is FILLED with very very useful information that you should read before making your purchase.

Thanks for the advice. We aren't really thinking about buying in to go elsewhere, I was just curious to know how easy (or difficult) it was in the event I wanted to book elsewhere. I'm also not opposed to renting out my points, as long as it is done correctly it seems to be a viable option in the event we wanted to go somewhere else.

 

[doubletrouble_vb]

Some posters have presented the issue of forking over large sums of money on the rental. But is it that different from renting any other non-hotel accomodation? Such as a cabin, cottage on the beach, chalet at a ski resort? The key is establishing a level of trust on both sides.

Right now I would think renting trumps buying but that may not stay true once the economy goes into a slow steady growth pattern.

 

[lark]

Some posters have presented the issue of forking over large sums of money on the rental. But is it that different from renting any other non-hotel accomodation? Such as a cabin, cottage on the beach, chalet at a ski resort? The key is establishing a level of trust on both sides.

As I said above, I've rented DVC and other timeshares dozens of times. Maybe I've been lucky, but I haven't had an issue yet. To the contrary, I've met some really nice folks. Probably well beyond the scope of this thread, but there are many ways to protect yourself. None is fullproof, but you get a sense pretty quickly how to test the trustworthiness of a person renting to you. DVC is particularly easy, especially if you use these boards. I've been both the renter and rentee, and so many people who rent here have track records with other well-known posters that, if you're sensible about it, you can simply follow a pretty well-worn path.

I know there are a lot of people who just are not comfortable participating in these sorts of transactions -- not necessarily because they are afraid of being scammed but because dealing with unknown people in a financial transaction is something they don't want to be bothered with or find uncomforable. That's a completely understandable perspective. Again, you have to put a value on psychic satisfaction, which definitely has some value for some (more for others).