Considering buy DVC and I have lots of questions

[MickeyMouseCD524]

We went to Hilton presentation last week for HGVC and are seriously buying into DVC or maybe even both. Some of you may have seen my post on the budget board regarding that. But I have lots of questions on DVC and was hoping you guys could help answer them for me. I will say my parents do own DVC so I understand the mechanics behind a lot of it.

1) What happens when the contract runs out does Disney give the option to extend? I want to hold on to the timeshare for as long as I'm alive and at this point in my life I do hope to live into my 60s. But by then it doesn't feel like it makes much sense to buy a completely new contract.

2) People have mentioned buying resale instead of direct to save money. Looking at it the price seems to actually be the same if not more. Maybe I've gone to the wrong site to look at purchasing resales can someone guide me in that respect?

3) How does owning multiple properties work in regards to your "home resort" and points. My parents have only ever owned at one resort but I've seen people mention on here that they own at multiple resorts. How does that work in regards to what your home resort is? And how does it effect your points and where you can use them/do you have to have multiple DVC account for that?

I'm sure I'll have more questions down the road. We in theroy would like to buy direct from Disney and then if we wanted to own at more then one resort add on via resale but again not positive how that would work. Hoping to get a better grasp so we can make a more informed decision. Thanks in advance!

 

[supersnoop]

1. At expiration you no longer have access to the building. DVC once offered an extension at OKW, but it didn’t go well. Whether they offer an extension in the future is anyone’s guess. It seems unlikely and we won’t know for 24 more years.

2. Resale is typically $40 - $60/point less than direct.

3. You don’t have a home resort, your points do. The point’s home resort never changes.

 

[Marionnette]

We went to Hilton presentation last week for HGVC and are seriously buying into DVC or maybe even both. Some of you may have seen my post on the budget board regarding that. But I have lots of questions on DVC and was hoping you guys could help answer them for me. I will say my parents do own DVC so I understand the mechanics behind a lot of it.

1) What happens when the contract runs out does Disney give the option to extend? I want to hold on to the timeshare for as long as I'm alive and at this point in my life I do hope to live into my 60s. But by then it doesn't feel like it makes much sense to buy a completely new contract.

2) People have mentioned buying resale instead of direct to save money. Looking at it the price seems to actually be the same if not more. Maybe I've gone to the wrong site to look at purchasing resales can someone guide me in that respect?

3) How does owning multiple properties work in regards to your "home resort" and points. My parents have only ever owned at one resort but I've seen people mention on here that they own at multiple resorts. How does that work in regards to what your home resort is? And how does it effect your points and where you can use them/do you have to have multiple DVC account for that?

I'm sure I'll have more questions down the road. We in theroy would like to buy direct from Disney and then if we wanted to own at more then one resort add on via resale but again not positive how that would work. Hoping to get a better grasp so we can make a more informed decision. Thanks in advance!

1. No one knows. None of the contracts have reached that point yet. Disney did offer OKW owners the option to extend their contracts by 15 years ack in 2007. The cost was $25pt. at the time and not very many owners accepted the offer. Chances are pretty good that Disney will take back ownership, refurbish the resort, redo the points structure and then resell the resorts. I don't believe that they will take the resorts back and then keep them as a part of the hotel system because the DVC dues pay for a part of resort maintenance at the ones that are connected to a hotel.

2. Resale prices are much lower than the direct prices. I cannot think of a single resort that is going for more on the resale market than they are going for when purchased directly from Disney. Check the rates at dvc-resale.com. They sponsor these boards. There are others, but you can start there.

3. Your home resort is wherever your points are located. IOW, if you purchase a BWV contract, that's your home resort for those points. If you purchase a second contract at VGF, your home resort for those points are at VGF. AT 11 months and until 7 months prior to arrival, you can only use your home resort's points to book at that resort. At 7 months and closer to arrival, a point is a point regardless of its home resort and you can use your points to book any resort that is available. When 7 months rolls around, I can combine my points from BWV and VGF to stay at any of the other resorts. Up to that point, VGF points can only be used at VGF and BWV points can only be used at BWV.

 

[zavandor]

1) no one knows what will happen when the first resorts will expire. It's possible not even Disney has a fully committed plan yet. They might offer an extention, they might take back the resorts, refurbish and sell as new. We don't even know what will happen in the last years of ownership: they might restrict banking and borrowing, create a lottery to be able to use the points or forego MF for people who decide to let their points go.

2) the gap between direct and resale has narrowed a lot. It's a seller market at the moment. In some cases resale contracts are very high because it's not even possible to purchase direct without a waitlist and in some case even no waitlist available (for example, for VGC). But resale most of the time still allows thousands in savings. Prices published on the broker website are asking prices and they are negotiable. Have a look at the ROFR thread to see at what price contracts are actually selling for.

3) If you own multiple contracts in the same UY, you only have one membership, so logging into the members' website you'll see all of them within one account. You'll be able to book each resort at 11 months only with points belonging to a contract for that resort. Having multiple contracts doesn't allow you (for example) to book BWV with SSR points at 11 months. But having the same UY you can seamingly combine points from multiple resorts at 7 months. If you have different UYs, each UY is a different membership. There's not much difference at 11 months, but at 7 months is a bit of an hassle to combine points from multiple contracts: you have to transfer points first and then call MF to make a reservation because transfered points don't appear online. There are other advantages like having more Waiting Lists (2 per memberhisp) and if you travel at different times of the year, you can use the best UY for each reservation to minimize the risk of loosing points because of a last minute cancellation.

 

[Deb & Bill]

Check out the Timeshare Users Group (TUG) on the internet. There is tons of great information on HGVC and DVC there, plus other companies. The biggest tip there is buy resale and save a bundle.

 

[Henwen88]

That HGVC must have been an awful presentation if you leave there wanting to buy a totally different timeshare lol

Buy where you want to stay... I've heard it and learned it. If you happen to want to stay at Copper Creek, then buy direct. If not, check out resale. Lots of info on these boards... always learning something new! Good luck!

 

[bumbershoot]

People have mentioned buying resale instead of direct to save money. Looking at it the price seems to actually be the same if not more. Maybe I've gone to the wrong site to look at purchasing resales can someone guide me in that respect?

Not sure where you’re looking, but that’s only going to be semi accurate for a new resort like copper creek.

 

[MickeyMouseCD524]

That HGVC must have been an awful presentation if you leave there wanting to buy a totally different timeshare lol

Buy where you want to stay... I've heard it and learned it. If you happen to want to stay at Copper Creek, then buy direct. If not, check out resale. Lots of info on these boards... always learning something new! Good luck!

It was alright. I'm actually considering buying into both. Always wanted to buy into Disney when I had gotten older and we've seriously been considering it for about 2 years just haven't pulled the trigger, but Hilton would be nice for the international travel we've been planning on.

I don't want the Copper Creek or Aluani, but the villas I was finding for BWV or VGF were astronomically more expensive.

Not sure where you’re looking, but that’s only going to be semi accurate for a new resort like copper creek.

I checked out a few sites after someone on here told me to never buy a timeshare direct because you can save a ton but I'm not finding that to be accurate at all. I'm sure you can save some when you get into higher point values but it's only 2 of us right now and it's all working out to be the same price at the moment. But as I said maybe I'm not doing it right.

 

[MickeyMouseCD524]

Check out the Timeshare Users Group (TUG) on the internet. There is tons of great information on HGVC and DVC there, plus other companies. The biggest tip there is buy resale and save a bundle.

Checked out TUG yesterday and they're pretty helpful. I see the resale value in everything other than Disney. Hilton, Marriott, etc. you do truly save a lot but in regards to Disney the biggest difference I've seen so far is saving up to $500 which don't get me wrong $500 is still $500 but it's not big enough of a savings to make my jaw drop. Again maybe I'm looking in the wrong spot.

 

[_auroraborealis_]

I don't want the Copper Creek or Aluani, but the villas I was finding for BWV or VGF were astronomically more expensive.

You buy points, not villas. And direct pricing for BWV and VGF is a LOT more than resale.
Current direct pricing for VGF is $220/point; BWV is $171/point.

Scanning a single broker's resale listings, I see VGF listed in the $170 range for resale. $50 per point savings is not a rounding error. Boardwalk I'm finding listings in the $120-130 range, which again is a $40-50 per point savings.

BWV is not generally a good value these days, unless you really must book there. And I'd not buy CCV wanting to book VGF; you won't be successful.

 

[_auroraborealis_]

Again maybe I'm looking in the wrong spot.

You are.

 

[MickeyMouseCD524]

You are.

Ok then where should I look?

 

[Marionnette]

Ok then where should I look?

Where are you looking now? There is a website to which I cannot link which will show you the current direct cost per point for every resort. There are numerous DVC resale websites where you can see what the asking price is for contracts that are currently on the market. And then there are the ROFR threads here on the disboards for each month which will show what people are actually paying for their contracts.

ETA: Just to help you out a bit:

VGF direct purchase (minimum 100 points for new owners) - $220 per point
VGF resale purchase (no minimum) $160-$183 per point based on a 100-point contract

BWV direct purchase (minimum 100 points for new owners) - $171 per point
BWV resale purchase (no minimum) - $135 per point based on a 100-point contract​

Keep in mind that asking price and final price are often different.

 

[bumbershoot]

I checked out a few sites after someone on here told me to never buy a timeshare direct because you can save a ton but I'm not finding that to be accurate at all. I'm sure you can save some when you get into higher point values but it's only 2 of us right now and it's all working out to be the same price at the moment. But as I said maybe I'm not doing it right.

Ok if you’re looking at very low point contracts, the resale pricing is going to be higher than a higher point contract. Add in closing costs on a newer resort and you’re in for sticker shock.

BUT you can’t even buy VGF direct right now. So resale is your option.

But lower point contracts are in demand and will command a higher price per point.


But we can’t really help without knowing what you’re looking at.