Can you give me the Pro's & Con's of DVC

[ErinInCT]

Ok, I am ready to present my arguement to dh tonight. I want to be prepared. Ya know, he may just surprise me & say SURE we can buy into DVC, but he is usually the type that needs convincing. I'm sure many of you were in the same boat, one desperately wants DVC, the other is skeptical.

Here are some brief family details:
Family of 4, DH, me, DD4 and DD1.
I have cash from an inheritance so we would not have to finance. Cash is currently in a liquid account (sorry, I know nothing about investing - I went to A G Edwards & they put it into an account a year ago & I am not sure if I am back up to my initial investment - In other words, I am losing money in this account!).
We went to WDW in Sept and rented a 2 bedroom at WLV from a DVCer. We always plan to use a 2bed if possible & plan to take kids out of school to go in Sept. We plan to go at least every other year, if not every year. Dh works for GM & gets discounted tix too (added bonus as well as the front of the line privledges at TT!). I'm looking at resales, probably around 210 points. Would like to do this b4 Feb so I can get 7 mo out for my next ressie.

Can I get a list of your pro's & con's for ownership? I made a list & here is what I have:

PRO's
Pre paid accommodations
Flexibility
Cost savings vs getting 2 connecting rooms at a mod/deluxe
Nicest accommodations
kitchens & w/d
Sell points instead of using them if necessary
Resort rates will most likely continue to rise
Trade out for other timeshares

CON's
Cost (Ease of renting at relatively low cost from DVC'ers)
Disney burn out
Not a lifetime membership, expires 2042
We move a lot w/dh's company, possibility of moving far away making it more difficult to have frequent trips

Do you have anything to add to this list so I can compile it for dh? Please be honest, I want to know the CON's!!

Thanks so much, I promise to stop bugging this board with all of my questions!

 

[Granny]

Erin....you have done a great job of researching and starting a list of pros and cons.

On the con side, that last one of yours is a real concern I suppose. Are you sure that you will at least stay in the continental US? If so, there are many members from the West coast who enjoy their DVC membership.

To me, on the pro side I would add:

Upgrades the vacation experience. More relaxing, not tripping over beds to have a snack or watch television.

You would be buying enough points so that you wouldn't feel the need to buy more just because you want to spread your family out more. This would be more likely if you planned on staying in a studio or even a 1BR for all your stays.

I'm sure the person you inherited from would be happy to see you investing in quality vacations with your family instead of some new furniture, house improvement, etc.

I wouldn't worry about "WDW Burn Out". First of all, you indicated you might not go every year. Secondly, your children are very young and you will enjoy watching them discover that WDW is so much more than Magic Kingdom as they grow. My two daughters are teenagers and like WDW trips now more than they ever have!


THe only other con I can think of is that you might end up moving close to WDW and want to purchase more points for more frequent trips! But most of us here wouldn't call that an argument against a DVC purchase.


It really comes down to priorities. For many DVC owners, a high quality vacation is an important priority. Also, because we tend to go so often, we don't kill ourselves on every trip worrying about "doing everything" because we know we'll be back soon.


Good luck with your decision.

 

[dianeschlicht]

You have a pretty good handle on the pros and cons. I think the best pro is that DVC allows us (as empty nesters) to take family and friends along and give them a place to stay on-site and have fun with us. With the ages of your kids, you will have lots of years of just the 4 of you enjoying the deluxe accommodations and the amenities of a "home away from home". Believe me, you truely do get to think of it as your vacation home! We started out with 230 OKW points, and added on 150 the following year. I know lots of folks have way more than 380 points, but we are not into the renting them out scene, and more really isn't necessary for us.

Just be aware that if you start with your 210 or so you might find you are wanting to travel a bit more frequently than you originally planned. That is what happens to most of us! We too thought we would go every other year, but that quickly turned into every year, and now multiple times a year. Definitely habit forming, but a habit I don't intend to break!

 

[Pa@okw95]

I would stay away from buying at BCV for starters. The place has problems as you may have read from various posts. You don't seem to be old enough to remember when WDW meant quality service. Eisner made cut backs over the years that has brought it down to its present levels of service. It could get worse. I would concern myself over WDW first and is it really a place you want to go to. As for DVC, so far, everything seems to be ok at all the resorts except BCV. If I were you I would only buy at OKW or SSR where they are just DVC and do not share with another WDW resort.
One real great thing about DVC is not matter how bad things get at WDW you still have a place to go for a vacation in the winter to get out of the cold.
Room rates will probably never hit their pre 9/11 level. Before 9/11 moderates were going for $200 per night. You can get a moderate now for $79 per night and the value places are going for $55. WDW has peaked years ago, just make sure it is a place you want to go to. With young kids like you have it probably is still a nice spot to vacation but do not look at DVC as some savings because it is not.

 

[ErinInCT]

We're looking at OKW since it has the least expensive MF's & seems to be the least expensive resale. As our family ages I think OKW will be perfect. For now we prefer staying close to MK & will try to book at 7 mo for VWL. Have had no problem getting a Sept ressie. I realize you are supposed to buy the resort you want to stay at the most but we would not mind if we had to stay at OKW. VWL is our current 1st choice. I am thinking that Orlando is a great place to vacation. As the kids get older & maybe go thru an anti-Disney stage (can't imagine that, but...) then we can scoot over to US & IOA & still stay at our Disney home at night. There seems to be a lot to do in the area if we do not want to do an entire Disney trip. I disagree that WDW has peaked. They are building more attractions & maybe even another theme park some day. Even if it stays the same I doubt it will lose it's magic for me.

 

[crisi]

One of the things on our con list:

We are tied into expensive WDW vacations. If airfare gets really expensive, if park tickets increase drastically, we will have "cheap" accomodations at Disney and so it will be difficult to not go. And if airfare and tickets get expensive, I think its likely that it will be more difficult to rent the points and the resale value may go down as well.

We think this is fairly low risk - but it was on our list.

 

[SueOKW]

You know what helped sell us? When we thought of our being able to give our kids a honeymoon trip using points...

Also - the forced vacation - if we didn't have these points, I am not sure that we would make an effort to have a family vacation every year.

Good luck!

 

[OneMoreTry]

Pros:
1. Owning a "piece of the magic." A home at WDW every year.
2. DVC forum on DIS.


Cons: If you don't like going to WDW a lot.


If you want to go to WDW cheap, don't buy DVC. It's cheaper to wait for discounts and stay at a value or even moderate resort.


(I REALLY like DVC )

 

[tjkraz]

A few nit-picks about your list:

Pro: Flexibility. I'm assuming you are referring to the ability to book other resorts. Honestly if you're comparing DVC to cash, I think you have to conclude that DVC is less flexible. Fewer (economical) resort choices. Much greater restrictions on cancellations. Strict rules regarding banking and borrowing of points.

On the topic of the expiring contracts, it can be either a pro or a con depending largely on your point of view. While there are many examples of landmark hotels in this country that have stood for 100+ years, ask yourselves whether you really want to own part of a Disney resort (with all of the accompanying wear and tear) after 50 years. Look at how dated the Contemporary looks after just 30 years. Destinations like the Golf Resort and Disney Institute have already been demolished in favor of a new project. Personally, I would focus on the ADVANTAGES that go along with ownership that ends in another 38-50 years. Such an ending date means that your annual dues will probably never have to pay for significant structural work to the building you will own.

I would add:

Pro: Potential appreciation in value. I'd at least mention that OKW originally sold for about $47.50 per point back in 1991/2, and is now up to $89 per point. Appreciation in value like that is rather rare in the timeshare industry. Personally, I wouldn't count on such a trend continuing, but you don't necessarily need to mention that. Realistically, as long as DVC continues to build resorts and raise their prices, the entire secondary market will follow suit.

Pro: Ability to use points for other Disney-owned resorts, II trades, and so on. Again, not all options are equally economical, but they do exist.

Con: Unpredictability of dues. By contract dues can rise as much as 15% per year. History shows 3-4%, but nobody can predict whether that will continue.

I'll also add that I agree with Pa@okw95's comments about Home resort selection--albeit for slightly different reasons. If you plan to vacation in September indefinitely, you will have little trouble booking any resort at 7 months. That's one of the slowest times of the year. You could save a lot on your annual dues over the years by owning OKW rather than one of the more expensive resorts. And you'll probably pay a couple dollars less for your points at OKW on the initial purchase as opposed to BCV/BWV/VWL.

SSR has the 50-year contract and second lowest dues, but you'll pay a little more up front.

 

[Scratch42]

Because there is no "hotel" cost, you'll end up spending more at the malls!LOL

Or at least I did this trip!

Pro ~ Definately the extra space!

Not tripping over everything. Having a comforatable place to sit while DD watched TV! Having a balcony to enjoy the outdoors!

Con ~ No daily housekeeping service. But really, did not miss it. Was nice to come back to the room and find everything where you left it!

Con ~ villas can tend to be far from main areas. (SSR)

But to be honest, the Pros outway the Cons! Even DD can't wait to go back!

Scratch

 

[Zurg]

Con:
1) After you get used to DVC resorts you are going to want to buy more points.
2) Burn out is a myth, you become less of a commando and more of a regular and feel so much at home that 1) above becomes a real issue.
3) Moving around a lot, DVC will feel more like you roots than you roots do see 1) and 2).

 

[Caskbill]

Pro: You don't pay that high Florida Room Tax (about 11.5%) when staying at a DVC resort on points. By comparison, that can add a lot to your vacation costs if you pay cash for a regular hotel room.

Pro: If you drive down from the Northeast instead of flying, you can always make HH a stopover on the way down or the way back.

Pro: There are several perks associated with being a member, including things such as discounts at numerous restaurants, etc. Note that perks can change on an annual basis and are not guaranteed, but so far they have them every year.

Pro: As you mentioned, highly flexible, when compared to other timeshares. (As mentioned probably not as flexible as just getting cash rooms when wanted)

Con: Like any large purchase, it takes a lot of cash that could be used somewhere else, such as investments where it 'might' grow.

Con: Some of the slowest times at the parks can be some of the more popular times at DVC (since points are lower). Although with good planning and after you get a little experience, this should not be a problem.

Con: (some might call this a Pro). Points can be used many places outside of DVC, such as DCL, DL, regular WDW hotels, or other resort destinations all over. Many consider these trades not to be a good value for the points and often a cash reservation may be just as good or better. If you're thinking about using lots of points outside of the regular DVC resorts then it might not be such a good thing for you.

 

[CaptainMidnight]

DVC retains its value better than many other timeshares so if you need or want to sell at some future point, you'll get a pretty good return.

Kitchen reduces meal costs. W/D reduces number of clothes one needs to pack.

Flexibility in accomdation size for the number of people and type of vacation your taking, and to change as the age of yoru children and family needs change.

We are BCV owners and have always had wonderful stays there. I wouldn't put too much credence in negative comments about BCV or a specific resort. Choice of resort is another thread.

 

[ErinInCT]

Wow, what great points from all posters!! Thanks!
As far as flexibility I was comparing to other timeshares where you are locked into a date, etc. I love being able to go when I want, staying in any size room as need dictates and having a choice of resorts (off season!). That is really what I meant about flexibility.
I didn't talk to dh last night since I wanted to wait for more responses. I don't think it will be difficult at all to convince him. Maybe I'll just let him read this post!!!
Thanks again.

 

[Granny]

Originally posted by Scratch42
Con ~ No daily housekeeping service. But really, did not miss it. Was nice to come back to the room and find everything where you left it!

For us, this is definitely in the "pro" column. Not having to worry about "straightening things up" because a maid is coming is nice. Not worrying about housekeeping interrupting anything like kids naps, quiet time, etc. And frankly, just having strangers in our rooms fewer times during our stay.

And I agree, rather than write all this down, just let your husband read this thread. In addition to the facts, he will see the enthusiasm that so many owners still have for such an expensive vacation investment.

I would also encourage him to read this thread asking how satisfied DVC owners are with their purchase: http://www.disboards.com/showthread.php?threadid=672782