Clueless in Connecticut

[ErinInCT]

Hi, I am brand new to this board. I found it while planning a WDW vacation (probably Nov 2004). I don't know much about Timeshare ownership (other then high pressure tactics used to get you to buy!!). I recently came in to some money from an inheritance & am now considering a Timeshare. I have 2 dd's 3 1/2 & 4 months. The 3 1/2 yr old plays princess all day every day! I know we will be having many WDW vacations for years to come! Can someone explain in laymans terms how this Timeshare works? I have read the FAQ's, etc but it is still very confusing. I would want at least a 1 bedroom.
Here are some questions I have:
1. Once you pay for your Timeshare & the yearly maint fees are there any other fees that you have to pay when you use your unit for your vacation?
2. Sometimes places will give you free nights & other incentives if you watch their presentation, does DVC have any specials like this?? OR do I buy a resale?
3. Is it easy to use your points for another place other then WDW?
4. If I do not use my points can I bank them? For how long? What do I do with unused points?
5. If the time I want to go on vacation "costs" more points then what I buy, how do I get more points?
Thanks for all the help!
Erin

 

[Granny]

First off, welcome to the DIS boards Erin, and to the DVC Discussion Forum!!

Now, let me take a swing at some of these!

1. Once you pay for your Timeshare & the yearly maint fees are there any other fees that you have to pay when you use your unit for your vacation?

Nope, there are no other fees for accommodations beyond the original point cost and the annual maintenance fees.

2. Sometimes places will give you free nights & other incentives if you watch their presentation, does DVC have any specials like this?? OR do I buy a resale?

It is best to purchase where you want to stay the most. It might be that you haven't made that determination yet...or might not really care. Right now Disney is selling Saratoga Springs Resort (SSR) on-site...and it's very attractive for young buyers because it has a 50 year right-to-use versus the 38 years left on all the other Disney DVC resort contracts. The other resorts can be purchased through the resale market (we've done both) and you can save some money that way. But if there's a resort that you really like because of theming or location, you would be best served to buy there so you will have the reservation preference (11 month vs 7 month).

3. Is it easy to use your points for another place other then WDW?

It is easy to use them, but if this is your primary reason for buying, you'd be better off with another timeshare with lower dues. You do pay a premium to be in a DVC timeshare. Of course, you can reserve at Vero Beach and Hilton Head very easily as they are the two non-WDW DVC sites.

4. If I do not use my points can I bank them? For how long? What do I do with unused points?

Points can be banked for one year. They can also be borrowed for one year, in case you don't have enough points for a particular vacation. All points expire after one year unless they're banked. Banked points expire at the end of the year they are banked into. If you don't use them, they just expire and you end up paying fees on points that you won't use for that year.

5. If the time I want to go on vacation "costs" more points then what I buy, how do I get more points?

As mentioned above, if this is a one-year thing, then you can borrow points from the next year.

Some people only go every other year, and therefore only need to buy half the amount of points they need for any given trip. Actually, with banking and borrowing, you can book a 450 point vacation while only owning 150 points. But you need to keep in mind that you would pay maintenance on those 150 points every year regardless of what you do in terms of banking or borrowing.



Please ask lots of questions, and read this board a lot. You're considering a big financial decision, and the experts here only want you to have the information you need to make a decision.


By the way, Disney is well regarded in that you won't get the high pressure sales tactics from them. They will put some deadlines on offers, but you won't get the usual stress filled sales pitch from them.

Good luck!!

 

[dianeschlicht]

1. Once you pay for your Timeshare & the yearly maint fees are there any other fees that you have to pay when you use your unit for your vacation?
2. Sometimes places will give you free nights & other incentives if you watch their presentation, does DVC have any specials like this?? OR do I buy a resale?
3. Is it easy to use your points for another place other then WDW?
4. If I do not use my points can I bank them? For how long? What do I do with unused points?
5. If the time I want to go on vacation "costs" more points then what I buy, how do I get more points?


1. Not as long as you don't want something special like extra cleaning, or extra towels etc.

2. No freebies, but if you go to their presentation and buy there, you will be able to give back some of your first years points to defray costs. Resale is what you do if you want to buy anywhere other than Saratoga Springs Resort.

3. Easy, yes, but not necessarily a good value. DVC is great if you want to stay at WDW at least every other year, but it is a premium and expensive time share to trade unless you are trading to another premium and expensive resort.

4. You can bank points from one use year into the next, but they will have to be used before the end of that new use year, and can not be rebanked. That means, if you bank points, you must be sure to use at least as many points as you bank the next year. It is rare that points would expire without some use, but if that happens, you can always try renting them here on the rent/trade board.

5. You figure out when you are most likely to travel and in what size unit you are likely to want (1 or 2 bedroom), and then look at the points chart for that home resort to figure how many annual points you are likely to need. Then, you are free to book any size unit, studio, 1,2,or 3 bedroom as long as you have enough points in your account to cover the ressie. You can also borrow points from the next year if you don't have enough.

 

[dianeschlicht]

LOL! Looks like Granny and I were typing at the same time! Feel free to ask any questions you have! By the way, DVC really does not have a high pressure sales tactic.

 

[Happy Birthday Cat]

Disney is not your typical timeshare. As Diane has pointed out, no high pressure sales tactics at DVC. If you don't want to purchase, they know that there will be many more people coming in who will. As a result, you won't get any of those little giveaways that other timeshaes do, like a free night someplace. But on the other hand, what other timeshare do you know of where the vast majority of current owners could sell their timeshare for more than they originally paid for it? That's a big reason why DVC is different.

HBC

 

[Granny]

LOL Diane....I was wondering if anyone else was tackling that list! At least we gave basically the same answers!!

Erin...in re-reading your question, I wanted to make sure that you understand about DVC WDW resorts.

Old Key West, Boardwalk Villas, Wilderness Lodge Villas, and Beach Club Villas are pretty much only available through re-sale as these resorts were completely sold out. Saratoga Springs Resort is the only one being currently marketed by Disney to new buyers.

Of course, once you buy, you can stay at any of the DVC resorts subject to availability at the 7 month window.

I must say, I really wish I had bought when my children were at the same age as yours. We missed a lot of the "wonder years" where they would have been awed and beside themselves with excitement. They still love going, but we do feel like we missed out on something.


If you think you'll be going to WDW a lot, and you can financially swing it without stressing yourselves, it's a wonderful vacation investment.

 

[ErinInCT]

Wowie, thanks so much for the replies. I just jumped on & was shocked to see so many responses already! But of course, all the answers just gave me more questions!!!
1. Does everyone have the same maint fee or is it based on the cost of your timeshare? Approx how much are we talking here?
2. Is this Saratoga Springs place at WDW or some place else? If it is at WDW do you know where it is located?
3. I do plan to go to WDW at least every other year, so it sounds like I should try to find something for half the points I need. Right now we can go during the school year during the "off peak" times, but should I plan on buying enough points so we can go during the peak times which we may be forced to do in another 5 or so years? Or do I just be a bad parent & take my kids out of school (hey, it's educational, right?) to go during off season?
4. The timeshare resales show months next to them, what does that mean? Is one month better then another?
Hmm, I think that is all for now, plus little one is starting to fuss!
Thanks again for the great info!
Erin (in balmy CT, we are up to 35 degrees today!)

 

[Happy Birthday Cat]

1. Does everyone have the same maint fee or is it based on the cost of your timeshare? Approx how much are we talking here?

They are different but are around $4.00 per point. The property tax portion can be tax deductable.

Is this Saratoga Springs place at WDW or some place else? If it is at WDW do you know where it is located?

Yes it is right across from Downtown Disney.

sounds like I should try to find something for half the points I need.

No matter how many you buy, you will find that you don't have enough.

The timeshare resales show months next to them, what does that mean? Is one month better then another?

That depends on when you vacation. The month denotes the month that your points are refreshed. It has nothing to do with when you can make a reservation. It is important if you have to cancel a trip. If you have a June use year and usually travel in July and have to cancel, you can still bank your points to the next year or use them over the rest of your use year. If you have a June use year and travel in May and have to cancel at the last minute, you will only have until the end of May to use the points and have very few options. Do a search on the use year topic. It is complicated and one you need to understand.

Good luck.

HBC

 

[dianeschlicht]

1. Does everyone have the same maint fee or is it based on the cost of your timeshare? Approx how much are we talking here?
2. Is this Saratoga Springs place at WDW or some place else? If it is at WDW do you know where it is located?
3. I do plan to go to WDW at least every other year, so it sounds like I should try to find something for half the points I need. Right now we can go during the school year during the "off peak" times, but should I plan on buying enough points so we can go during the peak times which we may be forced to do in another 5 or so years? Or do I just be a bad parent & take my kids out of school (hey, it's educational, right?) to go during off season?
4. The timeshare resales show months next to them, what does that mean? Is one month better then another?
Hmm, I think that is all for now, plus little one is starting to fuss!
Thanks again for the great info!

1. Maintenance is based on both the number of points you own and on which resort you own them at. It is a per point cost. Most are around $4 and some are lower.

2. It is right next to Down Town Disney and is the only resort still being sold by Disney. All other DVC resorts would require a resale, which can be cheaper!

3. I would buy a few more than you "think" you need! The most often thing we hear is that folks need to add on after not buying enough right off. For example: If you think a 1 bedroom at OKW for a week during January is what you want now, it is only 160 points for a week. That same room will be 218 points for a week in June! We started with 230 points and added 150 more just a year later. We finally feel we have the right number for us.

4. The month is the "use year" which is the date you get your annual points for that year. It really means nothing to when you can reserve, but may be important if you ever have to cancel a reservation last minute and then would like to have enough time to still bank those points to be used the following year.

 

[ErinInCT]

Me again,
I just checked the map to see where Downtown Disney is. That seems pretty far away from everything. What is the closest timeshare to MK? If I bought a resale (I like the location of BW) would it be hard to use my points for SSR in the future? I guess the advantage of buying SSR is to get the full 50 yrs & then just stay at BW or OKW or one of the other properties. How can I find out how much SSR would cost & are they currently built & for sale? Do I physically have to go to SSR to buy or can I do it over the phone so I can use it for my trip in Nov? Sorry to bombard everyone with questions but you are all so helpful!!!!
Erin

 

[SuzieQMomof3]

Hi ErininCT,

We, too, are thinking about taking the plunge into Saratoga Springs. Please call the 800 number-someone will send a packet of information out to you.

FYI: We won't be taking a vacation this year and will be able to take $10 per point off the cost of the DVC if we "turn in" this year's points.

We have 4 children, ages 6 months-9 years and calculated that if would be very cost-effective to own a timeshare since we will always stay on Disney property.

Good luck. Isn't it exciting thinking you may own a piece of Disney?

 

[HookdonWDW]

The closest DVC resort to MK would be VWL (Villas at Wilderness Lodge). It's just a boatride over to MK, and very convenient. VWL is one of our favorite resorts! As to whether or not it would be hard to get a reservation at SSR in the future, my answer is that it probably won't be, but that depends on how flexible you are on time of year and room type. I suspect that Grand Villas (3 BR) will always be harder to get.

I believe that DVC is currently selling SSR for $89 per point. You can sell your first year's points back to DVD @ $10/point, or you can get $5/off per point and keep your current points. If you check with a guide, they can give you the "official" answer.

If you call DVC, they would be glad to send you information on how DVC works.

 

[dianeschlicht]

WE own at OKW and have never thought it's location was a problem. SSR is not far at all from OKW. I like the vacation home feel of the villas at OKW (as opposed to a hotel type villa), and also like to be away from the hubub when we leave the parks and get into the villa. SSR will kind of be the best of both worlds, since you will have easy access to Pleasure Island and Downtown Disney shops and restaurants as well as a hotel type setting in seperate smaller buildings.

 

[Chuck S]

Currently the closest DVC propertyto the MK is Villas at Wilderness Lodge (VWL). BW and BCV are near EPCOT. OKW, when it originally opened, was considered a "village" resort, meaning it was in the same general area as Downtown Disney (Then known as Disney Village), SSR occupies (and will occupy, as much of it is still under construction) the former Disney Institute property, which, prior to being Disney Institure, was known as the Disney Village resort. If you have a car, OKW and SSR really are only a very short drive from EPCOT and Disney MGM studios, but are not within Walking distance, like BWV and BCV. MK also isn't a bad drive from any of the resorts. Animal Kingdom is the farthest park from OKW and SSR.

Each resort has its own theme and feel. OKW is really the most private "condo" feeling resort in the system, BWV is "in the middle of the action" with the Boardwalk entertainment area. BCV has Stormalong Bay,a water park for use by guests of BCV, Yatch Club and Beach Club only. SSR will be within walking distance of DtD and the nightclub district, and VWL has it's close proximity to MK. The overall advice is to buy where you want to stay the most. Also the 50 years of SSR vs. 38 years at the other resorts could be a consideration.

 

[PamOKW]

Have you looked at www.disneyvacationclub.com ? You might also want to look at the Home Away From Home resorts (with the exception of Ft. Wilderness they are also the DVC resorts) on www.disneyworld.com

Both of these will let you see the resorts. You'll have to look for the link to SSR in the text. It's not listed seperately yet. Bus service and/or boat service is provided to all the parks. All the resorts at Disney are "in" Disney and not far from any of the parks.

 

[crisi]

Also, the faqs at the top of this board are good, as well as the material at www.mouseplanet.com. www.allearsnet.com has pictures of all the resorts.

 

[MicNut713]

Erin hi and welcome. My DW and I just bought at BWV in Nov of 2003. We come every year for the past six years and we have a 3 1/2 yr old and a 5 month old. We had been buying point from a freind for our trips but the sold it and it forced us to buy our own. This was by far the best descion we ever made. We wil be going in March and December this year. We would never be able to aford two trips in one year without it and tay were we are staying. We got veery spoiled with having a vacation home. We only wished we had done it sooner. this board is great for info I have learned so much reading posts here. I hope these answers help you out.

Q. 1.Does everyone have the same maint fee or is it based on
the cost of your timeshare? Approx how much are we talking here

A. 1. They are around $4.00 per point maybe a little higher depending on what resort. I think mine is $4.11 at BWV

Q. 2. Is this Saratoga Springs place at WDW or some place else? If it is at WDW do you know where it is located?

A. 2. SSR is located in Downtown Disney area. I got lucky and was able to buy into BWV last November because they had points come available because I was going to get SSR but I did not like the location.

Q. 3. I do plan to go to WDW at least every other year, so it sounds like I should try to find something for half the points I need. Right now we can go during the school year during the "off peak" times, but should I plan on buying enough points so we can go during the peak times which we may be forced to do in another 5 or so years? Or do I just be a bad parent & take my kids out of school (hey, it's educational, right?) to go during off season?

A. 2. I bought 180 points and I can stay in an off peak season in a 2bdrm villa arrivaing on a Saturday and leaving on a Friday for just under the 180. I go every year with the kids I would suject getting at least that the minimum to buy is 150 points. I plan to take my kids out of school we love to go in Sept or Oct.

Q. 4. The timeshare resales show months next to them, what does that mean? Is one month better then another?
Hmm, I think that is all for now, plus little one is starting to fuss!
Thanks again for the great info!
Erin (in balmy CT, we are up to 35 degrees today!)

A. 4. Not sure about that but good luck. 36 in RI today..

 

[CTDVCMBS]

We are in CT too. just got back from the 1/10 cruise. Have been DVC members since 1998. Love it love it love it. my Advice : Go to disney for a trip ; talk to a DVC rep there... tour the resorts open house at BWV.
We Could NEVER have the vacations we do without the DVC. It has been wonderful for us. kids are now 11 and 13 and we are planning on skiing next time in co- really flexible - works very well for us

 

[chainkid]

Hi Erin,

We bought BWV in 1999 after staying there on a cash basis. I wish I had bought sooner. I started with 252 points then added more smaller contracts until I now have 602. As you can see I love it there. I could have sold my points for much more than I paid for them and still had alot of wonderful vactions. I would advise getting small contracts instead of a large one as they are very easy to sell quickly and for higher points if you should have a financial set back in the future.

I bought thru Disney but its much cheaper to buy resale and maybe get banked points. We had o pressure to buy. I have personally sold several friends on DVC when they have been my guest. Its a fabulous timeshare. I haven't traded out yet and probably would buy another timeshare for that purpose.

Your Rhode Island Neighbor
Joan