Calling DVC experts - need your advice ASAP!

[HaveADisneyDay!]

Hello! Not sure I am in the right place so if I am posting in the wrong place - I do apologize.

I went for the DVC tour here in IL on Thurs on a whim and now I am down to less than 24 hours for my decision. Would you buy direct from Disney? Would you buy BLT? SSR with 2008 and 2009 points? Would you buy AK with 2008 and 2009 points? I am so confused. Does anyone regret buying their DVC? I am scared I am caught up in the whole "Disney Magic" cloud and will regret it I DO it and scared I will regret it if I DON'T.

I have been to Disney A LOT and it seems like a no brainer but it is a lot of money too. APH rooms at All-Star can go for about $59 - $79 (plus that awful hotel tax) and the DVC fees could buy a lot of those rooms. If you could entertain some of my questions - even if they are stupid that would be great! I called DVC direct and they were pretty vague so I thought all of you who live it would know better and give it to me straight!

1. How many people can go on a contract? My bf and I would buy it together but he has three grown children who may also buy int - could we all do that? Do we all get discounts on APH? If my bf and I live in seperate houses can we also buy a DVC together?

2. Do you see an advantage to buying into BLT? Too expensive?

3. Any drawbacks I need to know now that you learned after you bought?


Even though I am pretty young and would hopefully get some use of it - I do have breast cancer and I am scared that I am going to buy this and never get the full benefit - what a sad thing to have to leave behind to some ingrate relative. I am so confused and I need all of your expertise to help me along. THANK YOU DVCers for any information and feedback you can offer! (Part of me is just bubbling over with excitement about maybe finally being an owner though - Disney Magic is the best kind of magic.

 

[snowhyte]

I might not be the best person to answer your questions because I am currently in the process of buying and waiting on a resale contract, but here's my 2 cents anyway...

I think you might need more than 24 hours to think about it. There's a lot to know and consider and you might want to take your time first and find out everything you can to make an informed decision. I have been researching for over six months and still have many questions!! DVC will still be there if and when you decide it is right for you.

Many people are going to tell you to buy where you want to stay. If you just want into DVC and don't care which resort, then resale might be a better option. You can get a resale for cheaper than what BLT and AKV are going for through Disney right now. It is a big financial committment, so you want to be happy with the resort choice you make. And also know that you are able to afford it and the maintenance fees etc.

Stay strong and best of luck with your health!

 

[CarolMN]

Don't buy now. You haven't had time to do near enough research and due diligence. You need a lot more than 24 hours to make a good decision.

DVC will be around a long time. Don't let the lure of sales incentives or the enthusiasm of current members sway you into making a hasty decision that may not be right for you.

Sending some prayers that your cancer is cured.

 

[disneynutz]

I guarantee you that if you call your Guide and tell them that you are interested, but can't make a decision right now, they will extend your incentives. We had a two month extension one time between incentives so we could choose the best ones.

 

[Lynne M]

The single best bit of advice I can give you is to walk away, take a deep breath, and start doing research. Never buy DVC on a whim. There's never, ever a need to buy it on a whim. DVC is a great deal for many people, but many others have bought without fully understanding how it works, and found it doesn't work with the way their family vacations.

I bought in 2001, and I don't remember a time since then when there wasn't an incentive of some sort. There's always a deal going on, so don't feel like you need to give in the salesperson's artificial deadline. DVC isn't going anywhere.

 

[Greysword]

Hi and welcome!

First off, I agree with the others to take as much time as you need. Incentives come and go, and SSR is way cheaper on resale at this time! On your next visit, ask your guide if you could do the Vacation Your Way tour. It is designed for current members, but they are having tours through BLT (not sure how long this will last, though).

You could also rent some points and get a feel for a DVC resort before you buy. A studio in OKW during January, September, October, most of November and most of December is only 8 (in 2009) or 9 (in 2010) points for Sunday-Thursday nights. If you rent points from the renter's board at $10/point, thats about $80-90 per night with no taxes required.

To directly answer your questions:

Would you buy direct from Disney? Would you buy BLT? SSR with 2008 and 2009 points? Would you buy AK with 2008 and 2009 points? I am so confused.

We initially bought SSR; because, it was the newest DVC. We bought and financed through Disney!

Does anyone regret buying their DVC?

Nope, never.

1. How many people can go on a contract? My bf and I would buy it together but he has three grown children who may also buy int - could we all do that? Do we all get discounts on APH? If my bf and I live in seperate houses can we also buy a DVC together?

I think you can have as many as needed and they are all considered members. I would be careful about entering into any long-term contract with a boy/girl friend. Maybe you could consider buying the points in your name and sharing them or buying two smaller contracts (one for each) and transfering (sharing) points once per year.

2. Do you see an advantage to buying into BLT? Too expensive?

Location! It is a monorail resort, close to the Magic Kingdom, and one of the newest. Rule #1: Buy where you want to stay!!

3. Any drawbacks I need to know now that you learned after you bought?

You'll always need more points! The Disney financing is done by them, so it does not show on the credit reports.

I am scared that I am going to buy this and never get the full benefit.

For us, one trip was worth the cost.

Good luck in your decision and with your medical issues!

 

[Deb & Bill]

The single best bit of advice I can give you is to walk away, take a deep breath, and start doing research. Never buy DVC on a whim. There's never, ever a need to buy it on a whim. ....

Sure, now you tell us. We bought on a whim, but we only paid $50 a point for our initial purchase.

We bought it on our first trip to WDW. We got 175 OKW points. Then added on another 75 OKW, then a resale 50 at OKW. Then 100 at VWL, then 100 at BCV. But sold the 75 OKW and 100 BCV both for more than we paid.

 

[nickspace]

Don't buy now. You haven't had time to do near enough research and due diligence. You need a lot more than 24 hours to make a good decision.

DVC will be around a long time. Don't let the lure of sales incentives or the enthusiasm of current members sway you into making a hasty decision that may not be right for you.

Sending some prayers that your cancer is cured.

Amen!

 

[Lynne M]

Sure, now you tell us. We bought on a whim, but we only paid $50 a point for our initial purchase.

I put the deposit down on a whim, but I did a ton of research and reading for about a week once I got the paperwork. It was like a crash course in DVC.

 

[paults]

buying in with others, if you have problems you might have to sell.

Also don't buy a large contract, split it into small ones if its through disney. they are easier to sell if you have to.

 

[Lynne M]

buying in with others, if you have problems you might have to sell.

Also don't buy a large contract, split it into small ones if its through disney. they are easier to sell if you have to.

Two very good points. Bear in mind that this is a real estate purchase, and that if anyone on the contract goes through a bankruptcy or divorce, the sale of the contract may be forced. Would you go in on buying a house with all of these folks? If not, you may want to think twice about having everyone on one contract.

 

[CarolAnnC]

Hello! Not sure I am in the right place so if I am posting in the wrong place - I do apologize.

I went for the DVC tour here in IL on Thurs on a whim and now I am down to less than 24 hours for my decision. Would you buy direct from Disney? Would you buy BLT? SSR with 2008 and 2009 points? Would you buy AK with 2008 and 2009 points? I am so confused. Does anyone regret buying their DVC? I am scared I am caught up in the whole "Disney Magic" cloud and will regret it I DO it and scared I will regret it if I DON'T.

I have been to Disney A LOT and it seems like a no brainer but it is a lot of money too. APH rooms at All-Star can go for about $59 - $79 (plus that awful hotel tax) and the DVC fees could buy a lot of those rooms. If you could entertain some of my questions - even if they are stupid that would be great! I called DVC direct and they were pretty vague so I thought all of you who live it would know better and give it to me straight!

1. How many people can go on a contract? My bf and I would buy it together but he has three grown children who may also buy int - could we all do that? Do we all get discounts on APH? If my bf and I live in seperate houses can we also buy a DVC together?

2. Do you see an advantage to buying into BLT? Too expensive?

3. Any drawbacks I need to know now that you learned after you bought?


Even though I am pretty young and would hopefully get some use of it - I do have breast cancer and I am scared that I am going to buy this and never get the full benefit - what a sad thing to have to leave behind to some ingrate relative. I am so confused and I need all of your expertise to help me along. THANK YOU DVCers for any information and feedback you can offer! (Part of me is just bubbling over with excitement about maybe finally being an owner though - Disney Magic is the best kind of magic.

Hi and Welcome to the DIS fellow Chicagoan!!

I have to say from your signature, living in Chicago with 103 trips to WDW certainly makes you a very good candidate for DVC. That being said, if you are happy with All Stars room at AP pricing, then DVC may not be for you.

When we bought, we had never stayed in anything higher than a moderate. But we saw the value in DVC and we wanted the spaciousness and amenities that DVC could bring us. So we were very happy to buy in.

If you are single, I would recommend you buy this on your own. My daughter is in her 20's and just bought her first DVC membership last week. When you put someone else other than a spouse on the deed, that means you share the asset, like owning a home would do also. So that is fine if all is well, but if you separate, if one of you has credit, bankruptcy, divorce, child support issues, etc., then your DVC is fair game to be ordered to go to those court ordered problems.

I am sorry to hear about your cancer. I hope for succesful treatment for you and good health!

When I purchased my first at OKW my husband and I had looked at it for several years. When we finally bought in, we were thrilled. That was in 1997.
We took about 2 vacations a year there, until he suddenly passed away in 2000. I am very happy that he was able to enjoy DVC with his children at least for those few trips. They are memories that last forever. My only regret is that we did not buy DVC sooner..

Now as far as which resort to purchase at - DD was lured by the thought of more points and better pricing at VGC, SSR and AKV. However, she was passionate about staying at BLT. She purchased at BLT and is thus far very happy and planning her first stay there. I advise go for where you want to stay as the 11 month window can be very important sometimes in giving you an advantage at booking your vacation of choice.

Best wishes to you, and I hope you are able to find some help with all the advice here on the DIS.

 

[quirty30]

All very good responses so far. I'm just going to chime in with a few other comments:

1) DVC has restrictions on minimum points for first time buyers. When I first started the process, I was looking at 300 points and wanted to split it into 2 equal contracts of 150. I was told I couldn't do that; I believe at least one of the contracts had to be for at least 160 points. I ended up with 360 points in the end, so it became a moot point.

2) Your health should be your first and foremost concern right now and you shouldn't worrying about the pressure of ending incentives and deadlines. 2 of the resorts you are contemplating have good availability on the resale market with a variety of points. You have a number of "what ifs" to be considering right now and it just doesn't seem like you should be jumping into this purchase. I'd heed some of the other advice posted already and give yourself more time to carefully consider your options.

I wish you well - take care of yourself and know that DVC will remain an option for a long time. There will always be various incentives and the opportunity to buy resale.

 

[HaveADisneyDay!]

Hello! Just wanted to chime back in and say THANK YOU for all of your excellent advice and well wishes! I knew I had posted in the right place and I took everything you all had to say into consideration. At my guides suggestion, I decided to purchase now and pay later to offer a few more weeks of deliberation to be sure of my decision to purchase with my sister. I have since received my big blue box of magic and now the real decision comes. I know I have only a few weeks to ponder it but I wanted to have the option of purchasing Bay Lake Tower and did not want to regret passing on the opportunity completely. For me, it always has been, and always will be, all about Cinderella's Castle and to be able to say Buzz and Jack Sparrow are my neighbors - well it was just too perfect an opportunity to pass up. It is just so totally cool! But using both my heart and HEAD to make the final decision. It is too easy to get caught up in the Disney Magic!
I will let you know (if) and when I actually complete the contract - my sister and I are in deep discussion. Thank you again - you all stepped up and helped me more than you know. Make it a Disney day!