Canadian DVC Owners

[mtmbyck]

I know this belongs on the DVC thread but I wanted to speak to Canadians specifically.

We go every year to WDW - usually rent a house as we are an extended family. In 2009, I was able to rent a DVC's points for a fraction if the rice so we are staying on property in a 2 bedroom.

I am thinking f talking DH into doing the presentation. Is it really a good value to invest in this IF you have to borrow the money or go on a payment plan to do it?? (we do not have $20K laying around).

I feel like the annual dues are high and go up each year, plus we can only travel during peak seasons (school holidays for the kids). And with the price of flights, plus Disney tickets......I feel like I would be investing in a huge financial burden...

I also see that buying resale is much less expensive. So I guess I am asking, are you glad you did it - any regrets - anything you would do different.....

Thanks!

 

[mommylo]

Hi, I am one of those people who are crazy about Disney. If you plan to go at least once a year and more, then DVC is for you. We went to WDW for the first time in 2007, went to the DVC presentation and bought right there, because they were offering incentive developers points. After we came back, I bought more through resales. This year, we went in July for 10 days, stayed at a 2-bdrm onsite and loved every moment of it. With the points, we also booked out Disney cruise for December 2009, and a trip to Manhattan in April 2009. Oh, and there is the March break trip for the 9 of us!! For us, this was the best thing!!

 

[Sheribo]

I use to spend countless hours trying to find something to do over spring break with my kids. We had to go somewhere that had a different school break to avoid the crowds. We have been to so many different places - some really nice and some really not so nice! Our friends own DVC and we went with them a couple of years ago. We stayed with them at SSR but didn't do the parks since it was a busy time. I was amazed at how the resort didn't feel busy and had so much to enjoy so we went to the presentation.

At the presentation they will tell you about all your options, including staying at over 500 other locations through Interval International. I wouldn't let that sway you. Bookings with II can be extremely difficult to get and nearly impossible for peak travel times. You get the best value by staying at DVC properties which are mostly in Florida. Go to the presentation. There was no pressure and we each (kids too) got $50 Disney gift cards for attending. I've been to other time share presentations and this one was enjoyable not pushy. If you love everything Disney, then DVC works.

We decided that SSR was the perfect place to spend spring break every year. No more stressing over finding something wonderful or worrying about what it's going to be like. We check out the different resorts each time we are there and will start staying at them at some point. Right now, we are still in love with SSR and being a family of 5 in Ontario, the ability to drive there is key.

We did buy resale which had some extra points banked so we are heading to BCV next month. We will visit the parks on this trip. There are some good incentives to buy through Disney but the price for resale was much better for me. Although Disney does offer some cost per point reductions right now and gift cards that might be nice. Whether you buy from Disney or resale, the contract end date is the same. Member Services treats you the same too so go with the best deal.

 

[ahalla]

We bought DVC last January after staying at SSR with friends on their points in December. After the presentation, we were torn and ultimately decided it wasn't for us, although we loved the Animal Kingdom Villas. Once we got home, I couldn't stop thinking about one day staying at AKV. My husband and I then decided to price out a 2 week stay there! Unbelieveable! We bought 200 points instead. Unfortunately, we had to finance thru disney and there are times when we question whether we did the right thing. The answer is always yes! We never went on family vacations as kids and had previously decided to make family vacations a priority for us! Owing the DVC ensures that we keep this promise to our family! But not only that, this December we are taking our parents with us, next year we are taking more family members, and one day we look forward to taking our grandchildren with us. It's the gift that keeps giving in our opinion! It is a big financial committment but for us, it is well worth it. We haven 47 days until our first trip home as DVC owners and we can hardly wait! Do what is best for you! Good luck with your decision!

 

[pkitty]

No regrets here, only that I wish we had bought sooner....we could have had it paid off in three trips. We are so satisfied in fact that we just added on 110 points at AKL. You really need to look at this like it is a personal investment in your family and nothing else. There really is no real "financial" advantage other than the quality of the properties you are staying at, most average travellers would not be able to affors to visit at year after year. Believe me you will appreciate it once you stay once or twice....there is no looking back. Also the amount of travel that you can do and the fact that this is something that you can share and pass on for the next 50 years is comforting. We hope to be making memories with our dd and her kids some day. Even so, we are taking my parents this spring for a week, it will be a trip of a lifetime for them as they are in there 70's and have really never experience WDW....can't put a price on that. Yes look at the financial aspect but for us it was a no brainer....this is our 11th year and our dd is 15. Still lots to do and lots to experience as a family....and no we're not tired of it yet!

 

[Ham Ham]

As previously posted DVC is great if you plan to visit yearly and want more that a value resort level accommodation.

We love going down and just hanging around at the resort don't always hit the parks

What also help to go for it was we can also use DVC to stay outside of Disney at Collingwood, Mount Tremblant , Whistler or a the beach if we choose.

The Hamettes, especially the DW loves the Disny level of service.

 

[ont/ohana]

No regrets from us either. We have owned for four years and wished we had bought sooner. As an earlier poster said we are so happy we added on last year and considering another add on next year. We find the trips more relaxed knowing we will be back soon. We discovered Vero Beach last NYE and loved the resort, a completely different Disney vacation. Hoping to try HHI next summer. We do not see this as any kind of investment but pre-paying our holidays and lots of great family memories.

 

[drag n' fly]

If you like to stay in deluxe resorts and like to do Disney at least every other year then you may want to consider it.

If the payments (monthly) or (lump sum) will cause you to feel tight then you may want to take that into consideration. Maintenance fees are an additional cost to consider. Flights, tickets and food are also a consideration but making meals in your villa will reduce costs. DVC members can also get the dining plan. I would not recommend buying for just perks as they can be removed at any time.

You can buy cheaper through re-sale but watch for stripped contracts. It takes approx 4-8 weeks to get in the DVC system on re-sale(rofr) or you can buy directly through Disney with incentives and be in the system right away.

Buy where you want to stay, try and buy a contract split into smaller contracts (so not 220 but 2 110 point contracts eg so they can be divided amongst children if applicable. You can also sell a contract later on if you don't need the points instead of having to sell the whole contract.

No regrets because we researched for a year and rented points off a member before we purchased. We specifically purchased because we only want to travel during the high season when the kids are out of school and dh and I can take off time from work. No more code hunting...no pins no nothing. Book at 11 months out and done!

 

[Goofy's apprentice]

We bought in 2004 and wish we had bought when we first looked into it years earlier. We added on a few times after that as we now go three times a year....and like to take friends or family with us.

Check our the DVC boards here, there are excellent thread which breakdown the pro's and con's. Basically, if you intend on visiting Wdw at least every second year then it may be for you. It is definitely not a cheap timeshare but neither is visiting Disney.

We have not regretted our purchase. Go see the sales presentation, it is not high pressure.

Goof luck with your decision

 

[LadyKay]

We absolutely feel it's the best thing we have ever purchased. We bought our first contract in Dec'07 (325 points @ AKV). It wasn't long before we decided that we would like to alternate between AKV and BCV with the 11 month advantage. By March '08 we purchased 200 BCV through resale. Our most recent purchase was 210 BLT points. We have visited 2 of our home resorts since purchase and now plan to visit twice a year. We are hosting a family reunion this March for 17 people over 12 days. None of this would be made possible if it weren't for our DVC purchase.
One word of advice, buy where you want to stay! Good luck!

 

[disney0210]

Just got back yesterday from a 9-day trip to WDW. This was our first trip as DVC owners. Stayed at OKW until the 10th, then moved over to AKV, our home resort. All I can say is WOW! We do not regret our decision for one second. We brought 11 other family members with us as our gift to them, and we had to borrow points from next year to be able to do that, but the look on my DD6`s face as she went on every ride with her cousins is just priceless - I cannot put a price on that. Our family members loved it so much that now, they are interested in DVC as well!

When you get there, I`m sure you`re DH will be the one to tell you to book the presentation. The others were right, DVC sales presentations are no pressure, they don`t force you to make a decision right on the spot. First time we went, we really told them that when we go back home, we will figure out the numbers and will get back to them - and that we did!

Have a great trip in March!

 

[JW2]

We just bought this year after our second time with our boys to WDW. We really debated if it was a good move. We used our line of credit to buy it but was able to pay it off in 6 months. Most kids love to swim. You could be at the most beautiful island and what do they want? - the hotel pool. I thought I would want to go to a different country (island) every year with the boys but then realized that WDW has it all - pools, beaches, activities and of course the parks .... and if one trip we don't want to do the parks, we don't have to - there's so much else to do. We can relax or be super busy. What we would spend on hotels is easily over the amount we would spend on DVC yearly dues. And the added bonus of having a beautiful resort each time.

We plan on going every 12-18 months (to different DVC resorts). When they are older, we may venture out and try the Exchanges. We have 210 points - too new yet to know if it's enough yet or not.

It's a tough decision but as our sales guy said - "we just want your vacation dollars, not your mortgage dollars or retirement savings." We did not buy on spot - we didn't want the "magic" to make our decision. The incentives were still available when we phoned 1 month later to buy.

good luck with your decision.

 

[dvcdisney]

We're glad we did it. We find that now that we have DVC, we vacation twice a year to Disney and because the fares are so expensive, we go 2 weeks at a time. If we do not have DVC, we would probably only be able to do one 2 week vacation and we would still not be able to stay at the deluxe dvc villas.

However, I think most of the DVC members willl tell you. A lot of members get the case of addonitis (continually purchasing more points until you realize you have enough points to stay for months, lol). Seriously, I think it was a very good purchase, one that we will use every year for many years.

I think if you calculate how much you spend for accomodations for your trip, you will know if this is good for your family. I've always mentioned to others that we can get a deluxe onsite Disney villa for the price of a Holiday Inn room.

 

[bbrnca]

We are glad to have bought also..... should have done it years ago but you know how it is..... We are new to it bought in Sept.08 for 200 pts at AKV.... got $100 gift card for attending presintation.... signed few days later after reading and thinking.... now DD's x 2 (17-20) both think it is theres at anytime.... ..... DW is planning on a trip for 13 ( 3BIL/3SIL with 3 kids) and getting a studio and 2br villa ...... I think if you go more then once in a few years it is worth it.... we have been 6 times int he last 8yrs and 5 in a row so well worth it for us..... good luck with your decision

 

[calgarygary]

Stop, before you purchase, fully cost out your decision. If you are committed to going to Orlando every year or every other year, DVC may be for you [if] staying onsite is worth a huge premium and you can afford it. You mentioned that you are going to finance your purchase so why not crunch some numbers. You also mentioned kids but not the number of children so I'm guessing that your preference is likely going to be for a two bedroom in peak season.

A 2 bedroom in Magic season at SSR requires 316 points which is likely a much better financial choice than 423 points that AK requires. You might be able to accumulate sufficient resale points at apx. $75/point so you are looking at a resale of $23700. Monthly carrying costs if financed over 10 years with 0 down will be apx. is $287.55 so your yearly cost is $3450 + annual dues (2008 rate) of $1330.36. It would cost close to $5K to take your family every year for the next ten to WDW if you wanted to stay in a 2 bedroom and that is before transportation and park tickets.

Compare that to staying offsite. Current cost for a resale Sheraton Vistana Villages for a 2 bedroom during peak season is $5775 (based on eBay). Carrying costs based on above would be $840.84 with annual fees of apx. $940.29 so annual payment is not quite $1800.

There are even cheaper offsite alternatives as Orlando is one of the easiest areas to trade into, even during the summer and any quality timeshare will pull Orlando's better timeshares but it is always good advice to buy where you want to go.

So I hope before you make that DVC purchase that many here will encourage you to do, ask yourself, is it worth spending an extra 3$K per year to stay onsite?

Obviously, if you do not require a 2 bedroom or do not wish to go every year or can visit during off seasons, the costs go down but if you want to own at DVC's better resorts or want to visit regularly during Christmas the costs go up. Although DVC is great for many, I think it is a poor choice if finances are tight.

 

[FayeW]

I have struggled with this decision periodically since our first trip in 2003. I even got far enough that we received a purchase contract from The Timeshare Store to purchase a resale contract at OKW, but we ultimately decided it wasn't for us.

There were a couple of factors that influenced our decision. We never stay onsite because we actually spend more time at Universal parks than WDW parks. We always rent minimum 2 bdrm condos. We don't want to change resorts during our stay, and everybody has to have a proper bed. I don't want anybody sleeping on a sofabed in the living room. When I looked at the number of days we travel, the time of year we travel, and the type of accomodations I want, I realized I can rent those accomodations offsite for about the cost of the yearly maintenance fees, without the buy in cost or the obligation.

We are going on our 4th trip in December. The previous 3 trips we used skyauction and our total accomodation costs were less than $500 for 9 nights. This time we chose to rent a 3bdrm condo at Windsor Hills, so the cost, including trip cancellation insurance, is $800.11. Substantially more than previous years but we have 3 bdrms instead of the usual 2 (it was only $10. more per night) and we have free internet included, which I need to be able to keep in touch with clients while I am away. To have comparable DVC accomodations, I would need minimum 2 bdrm. Even at OKW that would mean 326 points for our dates. Assuming we continue to travel every second year, I would need a contract for about 164 points (which is coincidentally an actual contract that is available resale right now). Assuming maintenance fees are $4. per point that would mean $656 in maintenance fees PER YEAR, so $1312 total for me to take my trip every two years. The contract cost is $13120., so it definitely makes more sense for my budget to pay $800. for the condo rental instead of $13000, and then $646 per year in MF.

If we were willing to split our stay for Sun-Thurs DVC, or have the kids sleep on the pull out couch and air mattresses in a 1bdrm, we could buy a lot less points, but at the end we would still probably pay at least what we pay for offsite, and with offsite we can check in once, and not have to compromise sleeping arrangements.

 

[dhluvsDisney]

We have never regretted buying DVC. We have added on at least 3 x's and purchased a resale as well. For us, there were many factors. Firstly we go at least once or twice a year and get annual passes. We love bringing family and friends (it makes it just that much more fun). Love the safety of being on site, and the kids can get around by themselves, so it had given them some independence early (they are 12/18/19 Now). We have enough points now for a month in January should we wish to in our retirement. But, one of the biggest factors is the kids will have enough points for each of them to have a yearly vacation with their families when the time comes. We love knowing they will be enjoying time spent with their family on a vacation as the years go on.

 

[mtmbyck]

Thanks Calgarygary and FayeW for your honesty. Deep down I know that there are more practical options, more affordable options, and really....more options that make tons more sense than DVC. I still feel like many make the decision based on nostalgia or novelty - owning a peice of Disney magic. And I would be one of those BUT creating unnecessary debt over a vacation that will ultimately force us to pay more on vacationing than we might have otherwise....in this economy.....rethink.

If I win the lottery and have this disposable cash by March - I'll do it. Otherwise, I'll do the presentation - get informed, and keep my gift card for a nice souvenir!

 

[calgarygary]

Thanks Calgarygary and FayeW for your honesty. Deep down I know that there are more practical options, more affordable options, and really....more options that make tons more sense than DVC. I still feel like many make the decision based on nostalgia or novelty - owning a peice of Disney magic. And I would be one of those BUT creating unnecessary debt over a vacation that will ultimately force us to pay more on vacationing than we might have otherwise....in this economy.....rethink.

If I win the lottery and have this disposable cash by March - I'll do it. Otherwise, I'll do the presentation - get informed, and keep my gift card for a nice souvenir!

Before doing the presentation, you can learn a great deal about timesharing by visiting the boards at tug. There are a lot of very informed people over there that are always happy to share their knowledge about timesharing - including DVC.

 

[mountainjourno]

We're in Edmonton, and LOVE our DVC. Would never turn the clock back on that decision.

That said, I would NEVER consider borrowing money to buy in - in the current economy, too risky. Instead, I would buy a small resale and then add on each year as I saved the money (you can do add-ons through DVC itself once you have a small contract and avoid paying closing costs then, or search for DVC resort contracts that are good deals.)

Definitely do the tour though while you're there, so you can see what you'd be buying into! And try to check out some of the other DVC resorts. You might fall in love with one that you could buy resale