Confused Newbie Looking for DVC Advice

[threecaballeros]

Greetings,

I hope I'm doing right, since this is my first post.

Earlier this month we took our first family vacation to WDW (loved it!). During the week, we made an appointment and took the tour of SSR and now we are seriously considering purchasing into DVC. After reading so much of the excellent info here on the boards, I'm hoping to clarify some things I still had questions on if I could.

1) Since we were assigned a Guide, will we be stepping on his/her toes if we decide that resale is better for us than going direct? If we purchase resale, will we even still keep the same Guide? Will there be a stigma on us? We don't want to offend, yet we want to get the right value.

2) After reading the new resale restrictions, I wanted to be sure I had them right. Given the restrictions, if we bought resale would be able to transfer to another DVC WDW property or would we be limited to just staying where we purchase?

I see that we wouldn't have access to Adventures, or the concierge collection. Would the specific world destinations still be available?

3) I hate to think of this but need to ask. If my wife and I both lost our jobs (let's say 5 years from now) and maintaining DVC was impossible, would we still be on the hook for monthly dues until we're able to sell? Is there some kind of "catastrophe" mechanism for ending DVC in an emergency?

Those are the questions I had. Thank you!!!

 

[JimMIA]

Greetings,

I hope I'm doing right, since this is my first post.

So far, so good. Welcome to the DIS!

1) Since we were assigned a Guide, will we be stepping on his/her toes if we decide that resale is better for us than going direct? If we purchase resale, will we even still keep the same Guide? Will there be a stigma on us? We don't want to offend, yet we want to get the right value.

However the guide feels about it is their issue to get over. Losing a sale to resale is quite common. I wouldn't worry about being stigmatized. You will keep the same guide, but if you have any issues with them, you can easily change guides. You will find that you don't really need the guide for anything except buying direct from Disney -- and if you decide to do that somewhere down the road, they'll be happy to take your money. We bought resale, and later bought direct from the guide we toured with (who is not very good, BTW.)

2) After reading the new resale restrictions, I wanted to be sure I had them right. Given the restrictions, if we bought resale would be able to transfer to another DVC WDW property or would we be limited to just staying where we purchase?

You will be able to use your DVC points at any DVC resort anywhere, subject to availability. There is wording in the POS (Public Offering Statement -- the lawyer stuff) which says there are conditions where DVC could limit you only to your home resort. However, that applies no matter how you purchase -- direct or resale. Also understand that the things you are giving up buying resale could also be discontinued for direct purchasers in the future. They are perks of DVC membership, not anything which is guaranteed to ANYone.

I see that we wouldn't have access to Adventures, or the concierge collection. Would the specific world destinations still be available?

If you buy resale, you will lose the Disney Collection (cruises, adventures, and non-DVC Disney resorts) and I believe the Conceirge collection. You will NOT lose the ability to use your points for timeshare exchanges through RCI. Keep in mind that most folks don't think any of those options are great uses of points in the first place...but you are probably keeping the one which is the most valuable.

3) I hate to think of this but need to ask. If my wife and I both lost our jobs (let's say 5 years from now) and maintaining DVC was impossible, would we still be on the hook for monthly dues until we're able to sell? Is there some kind of "catastrophe" mechanism for ending DVC in an emergency?

Sorry no ejection seat. This is just like any other major purchase (car, home, RV, boat, etc), you bought it, you pay for it. The "out" is to sell.

If losing your jobs is a possibility, I personally would advise against buying anything like DVC, I'd look at the numerous other options (renting DVC, offsite, other timeshare systems that can be purchased for very little money, etc.)

 

[JimMIA]

By the way, congratulations on already making the best decision you could ever make with any timeshare purchase -- NOT purchasing during your tour.

You had the good sense to wait, go home, and do your homework before you made a decision. Regardless of IF, or HOW, you purchase, your decision will be a much sounder one for having taken the time and effort to really research and consider things carefully and cautiously.

 

[DisDad07]

Don't get to upset if you go resale and get a different guide. It was just the luck of the draw as to who you got as a guide to start with. If you buy direct or resale, Buy where you want to stay, and like the resort you buy. You get the 11 month window at that resort! You get 7 month window at the other resorts, and if they have openings for the days you want to stay you can stay there. Buzy times of year you may not find rooms at some resorts at the 7 months out. So if you perfer to stay at 1 resort over the others, Buy at the Resort you want to stay at the most. IMHO

 

[maburke]

Buy at the Resort you want to stay at the most. IMHO

This is good advice, but I can't imagine you know that yet after only one visit to WDW. Though many people here say they wished they'd purchased sooner, are you really ready to commit to vacationing at WDW for years and years to come? Despite what you may have heard at the sales pitch about all the other travel options, DVC is only a really good value at the DVC resorts.

You're doing the right thing by taking your time and doing your research. Tell us more about your family and what you liked at WDW and maybe we can advise you more.

 

[threecaballeros]

DVC is only a really good value at the DVC resorts.

You're doing the right thing by taking your time and doing your research. Tell us more about your family and what you liked at WDW and maybe we can advise you more.

Thanks! I'm trying to be careful and not rush in (tempting though it may be, it is Disney after all! lol).

It was our first family trip and our son loved it. He's 4 and we have a daughter on the way. I have lots of memories of Disney as a child and an adult, and I stayed on property and off at times. I was also a cast member in '97 for their College Program, so I got a very intimate view of the "House of Mouse" behind the scenes too. My wife also went to Disney every so often.

My favorite park is probably Hollywood Studios (a bias since that is where I worked during the CP) - it just has a great vibe to me. Since actual Disney characters don't really roam free anymore, I like how the Studio Residents do and interact with guests. My wife's fave is MK, and my son's is HS also...and he now worships the Tower of Terror even though he didn't actually go on it -- go figure! He loved Soarin' at Epcot and the Buzz Lightyear ride a MK, though if you ask him he still favors HS.

We were actually thinking of trading out to the World PassPort collection every so often as part of our plan for buying into DVC. We liked the idea of trading in to go to exotic destinations every 1-2 years (with or without kids) and then banking points to go to Disney as a big family vacation every 3-4 years or so. Why is this not a good value? If I already bought in and a destination is within the point value we have, why not trade in and go? I'm curious to hear more of why people don't think the value is there so we can get a good sense of it.

I do like the idea of buying where we like (AKV) but then we'd definitely have to buy resale and then I still don't know if we'd get the points to make exotic destinations AND disney vacations possible. It seems like SSR gives us the most points for our $ spent, and we wouldn't have any real objection staying there (love the TH idea!).

One thing I know is that we'll NEVER vacation again in August, lol. My wife thinks the first week in Nov (school is off for NJ teacher's convention), or off-week in Jan or Feb (no special week), so hopefully the 7 month limitation is not so bad then.

Thank you everyone for the welcome so far, looking forward to reading your thoughts!

 

[CarolMN]

.......(snip)........We were actually thinking of trading out to the World PassPort collection every so often as part of our plan for buying into DVC. We liked the idea of trading in to go to exotic destinations every 1-2 years (with or without kids) and then banking points to go to Disney as a big family vacation every 3-4 years or so. Why is this not a good value? If I already bought in and a destination is within the point value we have, why not trade in and go? I'm curious to hear more of why people don't think the value is there so we can get a good sense of it.

Most who say buying to regularly trade out using RCI (World Passport Collection) is a poor value believe that DVC is too expensive to use in that manner. There are less expensive timeshares that trade just as well as DVC and also have lower annual dues than DVC. So they recommend you buy only the points you think you will use at a DVC resort and buy something else or pay cash for the non-DVC resorts. For example, if you go every other year to WDW, buy 1/2 the points for your anticipated stay (plus just a few more for a cushion) and use banking and/or borrowing to reserve your trips.

.I do like the idea of buying where we like (AKV) but then we'd definitely have to buy resale and then I still don't know if we'd get the points to make exotic destinations AND Disney vacations possible.

The World Passport Collection is still available to resale purchasers.

It's only the Disney Collection (non-DVC WDW resorts like the GF & the Poly), and cruises on the DCL) and the Adventurer's Collection (Adventures by Disney - these require LOTS of points) and the Concierge Collection (certain non-DVC resorts across the country) that are no longer available to resale purchasers.

Don't forget about the DVC resorts in Vero Beach,Hilton Head Island, Disneyland and soon, Hawaii if you need a break from the parks.

.
It seems like SSR gives us the most points for our $ spent, and we wouldn't have any real objection staying there (love the TH idea!).

Depending on when you go and the room type you want, getting in at 7 months can be tough. So don't buy a resort if you'd hate to be "stuck" there if you couldn't get something else at 7 months. SSR can be purchased quite reasonably via resale right now, so if you think you might like staying at SSR, go for it.

.One thing I know is that we'll NEVER vacation again in August, lol. My wife thinks the first week in Nov (school is off for NJ teacher's convention), or off-week in Jan or Feb (no special week), so hopefully the 7 month limitation is not so bad then.

I agree about going in August. Too HOT!

Jersey Week is very popular. You should plan to stay at your home resort if you visit that week. It's not impossible to get something else at 7 months, but there are lots of NJ DVC families and it seems like MOST of them want to come that week, so there is lots of competition at 7 months. Getting into a smaller resort at 7 months for Jersey Week is very difficult if you don't own that resort. (I bet airfare from NJ is high for that week, too).

It's a lot easier to get something at 7 months in January or February if you don't want President's week.

Thank you everyone for the welcome so far, looking forward to reading your thoughts

Good luck with your decision and welcome to the DIS DVC Boards!

 

[juncker]

As for getting out of your contract, you are responsible, but you do have some options.

1) Rent your points for the year, and use it to pay for your maintenance fees. Might not fetch enough to cover your investment if you have to finance your points, but having the money up front is certainly the best way to get into DVC if you can.

2) Sell your points as resale. There are always a lot of DVC contracts for sale and the market establishes the price. As with anything, if you put the right price on it, it will sell immediately. Don't feel that you're going to get stuck with it. Disney has the right to ROFR any lowball sales, and buy it from you, but that is just a problem for the buyers. You still sell your contract and get out.

My suggestion about getting to non-DVC destinations would be to use your money otherwise. Maybe buy only half the points you were thinking about, and only use them for DVC properties, and maybe an occasional trade out to RCI. You really are better renting your points to visit other property.

I'm a strong supporter of resale vs. direct. Regardless of the restrictions.

 

[JimMIA]

Most who say buying to regularly trade out using RCI (World Passport Collection) is a poor value believe that DVC is too expensive to use in that manner. There are less expensive timeshares that trade just as well as DVC and also have lower annual dues than DVC. So they recommend you buy only the points you think you will use at a DVC resort and buy something else or pay cash for the non-DVC resorts. For example, if you go every other year to WDW, buy 1/2 the points for your anticipated stay (plus just a few more for a cushion) and use banking and/or borrowing to reserve your trips.

A LOT of people who really know the timeshare market well say that exchanging ANY timeshare will usually give you less value than using that timeshare within its own system. And since DVC is a fairly expensive timeshare to buy and own, other timeshare products may be less bad to use for exhanges. There are timeshares that exchange as well as DVC available for pennies on eBay and other marketplaces.

The other aspect of using DVC as an exchange vehicle is that you would often be able to rent your DVC points and pay cash for whatever lodging you were going to exchange for -- and come out money ahead.

 

[maburke]

Thanks! I'm trying to be careful and not rush in (tempting though it may be, it is Disney after all! lol).

It was our first family trip and our son loved it. He's 4 and we have a daughter on the way. I have lots of memories of Disney as a child and an adult, and I stayed on property and off at times. I was also a cast member in '97 for their College Program, so I got a very intimate view of the "House of Mouse" behind the scenes too. My wife also went to Disney every so often.

My favorite park is probably Hollywood Studios (a bias since that is where I worked during the CP) - it just has a great vibe to me. Since actual Disney characters don't really roam free anymore, I like how the Studio Residents do and interact with guests. My wife's fave is MK, and my son's is HS also...and he now worships the Tower of Terror even though he didn't actually go on it -- go figure! He loved Soarin' at Epcot and the Buzz Lightyear ride a MK, though if you ask him he still favors HS.

We were actually thinking of trading out to the World PassPort collection every so often as part of our plan for buying into DVC. We liked the idea of trading in to go to exotic destinations every 1-2 years (with or without kids) and then banking points to go to Disney as a big family vacation every 3-4 years or so. Why is this not a good value? If I already bought in and a destination is within the point value we have, why not trade in and go? I'm curious to hear more of why people don't think the value is there so we can get a good sense of it.

I do like the idea of buying where we like (AKV) but then we'd definitely have to buy resale and then I still don't know if we'd get the points to make exotic destinations AND disney vacations possible. It seems like SSR gives us the most points for our $ spent, and we wouldn't have any real objection staying there (love the TH idea!).

One thing I know is that we'll NEVER vacation again in August, lol. My wife thinks the first week in Nov (school is off for NJ teacher's convention), or off-week in Jan or Feb (no special week), so hopefully the 7 month limitation is not so bad then.

Thank you everyone for the welcome so far, looking forward to reading your thoughts!

Okay, so this was your first family WDW trip, but the fact that you've had so much WDW experience yourself makes a big difference. Here are a few more things to be aware of:

- off-peak Disney time does not imply DVC is easy to get. Many members go for the reduced point times, though they are trying to even demand out with point reallocations (which is another possibility you should be aware of). So Jersey week, early December (Christmas decorations), and early January (Marathon) can be difficult at 7 months, especially at the smaller resorts (BCV, VWL). BCV and BWV can be tough during Food & Wine Festival, and VWL when the Christmas decorations are up. It's easier to get into the larger resorts at busy times (OKW and SSR, AKV to a lesser extent) at the 7 month window. So if you want a particular resort or special room type (AKV Concierge or Value, SSR THV) on a regular basis, buy there. If you can never plan before 7 months, or you're not picky, go for value.

- When I say a trade is not a good value, this is exactly what I mean, by example: Say I want a cruise. I might find it costs 385 points, or $3000 in cash. Now, I can rent my points for at least $10 (more for harder-to-get resorts way in advance), so renting them out and paying cash is a better deal. (Also, it turns out that cash payment is more flexible in terms of changing the reservation.) Now, some people don't want to rent their points, but if that's the value you put on them even if you use them at DVC, points is an expensive way to cruise. That's just one example, but trading into properties that have additional fees (like all-inclusive resort fees) have the same result. The idea is that if you want to vacation half the time at a non-Disney destination, only buy half the DVC points, and pay cash for your other trips. You'll end up spending less. (When you make the reservation, it feels like you're not spending any money at all, but when those annual fees come due, Ouch!)

Good luck with your decision! Keep us posted!

 

[Mtnman44]

Since this was your first trip to WDW, just make sure you really really know you want to travel to WDW every year or every other year for at least the next decade. Buying DVC tends to increase the length and frequency of WDW trips compared to what you would have done otherwise. So in a real sense, DVC ends up increasing your Disney vacation costs. This is no doubt part of the reason for the program to begin with.

DVC won't really save you any money untill sometime after about ten years. Most people use the average cost of a Disney Deluxe hotel room to compare. Depending on where you live, we've found that we spend $5000 to $6000 on every WDW vacation, not including DVC annual dues or the initial purchase cost. This includes airfare, car, tickets, and meals (two week trips). You should make sure that you can commit to these types of annual costs in order to use your DVC points.

P.S. Buy RESALE. The additional cost to buy Direct is approaching the ridiculous.