Considering buying DVC - A few questions?

[DrMomof3]

So I have spent about a year actively reading this forum to learn as much as I can about DVC. We are a family of 5 that travels to Disney at least 1-2 times per year (usually more - I run a few runDisney races each year). My eldest child is turning 9 on Tuesday with a 7 year old and almost 5 year old. My husband and I are both doctors and are finally ready to be able to pay cash for a small-ish resale contract. We refused to finance a Timeshare purchase or we would have purchased sooner. We can afford the annual fees and we have been purchasing Annual Passes anyway so we understand about the increasing ticket prices.
I think we want either a June or August Use Year at Beach Club Villas. We've gone to Disney the last week in August for 4 straight years and I've run during January Marathon Weekend for 3 straight years. We're also traveling to Disney for February break this year. And, as the kids get older, my DH and I will enjoy an adult trip for F&W festival. Am I correct that those are the best Use Years for us?
I saw one contract come up last weekend which looked perfect but sold before I could ask my husband's permission. I'm thinking we can afford 100 points or fewer to start. I signed up to receive emails from the big 3 resale agencies but it seems that the contracts I would want are few and far between.
Any advice on finding the right contract faster? Is it just a matter of being patient and the right contract will arrive?
What am I missing in my thought process? Any extraneous advice or opinions?

Thank you in advance! I look forward to learning more!

Amanda

 

[DannysMom]

When you are ready to make offers, you need to haunt the resale sites. Check inventory every day, more often if you can, smallish contracts are a hot commodity & go fast.

As a family of 5, though a 100 pt contract won't get you very far. If your budget will allows, you might see if you can swing a slightly larger contract, maybe in the 150-160 pt range. But wherever you start, you could always add on later.

Sent from my iPad using DISBoards App, please excuse any typos or autocorrects!

 

[Kidanifan08]

Jun or Aug sound like good UY choices. Given the ages of your kids, the Jun UY may be ideal, as you may find yourself traveling to WDW in Jun or July more, once they get deeper into school. We have a Dec UY and are moving into traveling during the summer most of the time since our son is almost 7 and in will be in second grade this fall. We have to bank by the end of July, which works pretty well for a summer trip, in case we would need to cancel. You could probably add April and even Feb to your list of possible UY's, which would open up the resale options a little.

With the size of your family, you will not be able to use studios. The only 1BR's that sleep 5 are at BLT, AKV and OKW. So, if Beach Club is where you want as your home, you will need to be using a 2BR villa for your entire family. 100 points is not going to get you more than 2 days in a BCV 2BR any time of the year. You are undoubtedly going to need more than 100 points sooner than you think. You may want to consider buying a little larger contract initially, which may widen the availability for you.

If you primarily like the idea of being near Epcot, you could consider BWV, which is about $10-15/pt less than BCV. They both expire in 2042. Depending on your and DH's ages, you may even consider getting into a resort with a later expiration date: SSR 2054, AKV 2057, or BLT 2061. If late August is your usual travel time, you can probably get into BCV at the 7 month mark for that time of year if you don't own there. Of course, you won't get BCV for F&W unless you own there and can plan 10-11 months in advance.

If a small contract is what you really want, you and DH should come up with some criteria that are important so that you can jump on one as soon as it is listed. Most of the 100 or less contracts are sucked up within a day or two, unless their stripped.

Good luck with your decision!

 

[DrMomof3]

Thank you both!
Our schools start after Labor Day so August will remain an option unless we have a varsity athlete who starts sports before school.
We would use the initial small contract for my solo running trips or our adult-only F&W trip. Obviously it won't go far for the whole family. I'd still rather start small than over-extend ourselves in terms of cash flow. With the rate that these things are popping up though, we may well be able to afford a larger initial contract...

Amanda

 

[disbound09]

You will find larger contracts are around a little bit longer, but you are trying to buy into a hot market and smaller contracts seem to go in a matter of hours. good luck and keep looking hopefully you will find something.

 

[Kidanifan08]

Thank you both!
Our schools start after Labor Day so August will remain an option unless we have a varsity athlete who starts sports before school.
We would use the initial small contract for my solo running trips or our adult-only F&W trip. Obviously it won't go far for the whole family. I'd still rather start small than over-extend ourselves in terms of cash flow. With the rate that these things are popping up though, we may well be able to afford a larger initial contract...

Amanda

Speaking as someone who has experience as a duel doc family, I would say consider getting enough points for the last 2 weeks of August and start enjoying the space of the villas now. If it were me, I would personally stay at the All-Stars for my solo trips and F&W for a few years if I could get DVC for my family trips now. Our DVC family vacations have been wonderful -- much better than when we stayed in the values or mods.

We actually financed our initial purchase at AKV in 2008 when our son was 2.5 because we didn't want to delay DVC ownership any longer. We paid it off in 2 years and have since added on 3 small additional contracts over the past 2 years (50, 55, and 105).

Only you know what works financially for your family and what other expenses you have (our med school loans are long paid off -- all $90k of them). You can actually get AKV for about $10 less per point than a small BCV contract -- maybe reconsider your first home resort to be able to get more points. AKV also has the value rooms, which are a great savings when you have a small number of points.

 

[DannysMom]

You can actually get AKV for about $10 less per point than a small BCV contract -- maybe reconsider your first home resort to be able to get more points. AKV also has the value rooms, which are a great savings when you have a small number of points.

Actually there are deals to be had, if you are lucky and/or patient. And sometimes the make it through ROFR. Keep tabs on the ROFR thread to see what current market prices are. It looks like AKV are selling in the mid $60s per point. Last summer I got my 200 pt BCV contract for $65/pt.

Sent from my iPad using DISBoards App, please excuse any typos or autocorrects!

 

[raftislander]

I purchased a resale contract for GCV. Contracts for this resort were never on the market for very long and I noticed that small contracts for any resort were always snapped up. I would check the listings regularly. At least 3 times a day- before work, mid morning and mid afternoon. I'm in the Pacific time zone so I kept in mind the time difference. When I saw a listing that fit my parameters I called right away, but would still hear that the contract already had a sale pending. Eventually you will be the first to respond. So I agree that you are going to have to reach an agreement with your husband on what you can put an offer on so there is no delay.

As for point amounts. Your family will definitely need more than 100 points a year. But remember, once you are a member you can purchase points to be transferred into your account from other members that have more points than they can use. You can do this once per use year. You can find people wanting to sell their points for transfer on these board or through the Timeshare store. I do agree with the pp that a slightly larger point contract will increase the number of contracts you have to choose from. I set an acceptable point range of 150-200points but hoped to get one at the lower end of that range. I was ROFR'd on a 170 point contract, then was sucessful on a 200 point contract. One year later and I am so glad that I ended up with a contract more points rather than less.

 

[ELMC]

One thing to consider is that a JUN UY will not work well for you if you want to start traveling in February. From the sound of it, AUG would be a great UY for you. Good luck with your purchase.

 

[DrMomof3]

Thank you for all of the great suggestions. Very helpful. Lots of food for thought...

We have stayed in villas before - both on and off property so I totally understand the benefits of extra space. I've been lucky enough to find roommates for all of my solo running trips (God bless the DIS!). Our only non-deluxe or non-villa trip was staying in a Cabin at Fort Wilderness.

I did 8 years of post-med school training and my husband did 6 years. We had our 1st child during my residency and the 2nd during my fellowship (all 3 were infertility babies so that cost a small fortune - could have bought DVC instead ). To afford childcare and living expenses during those years we maxed out 5 credit cards which are finally paid off. I haven't financed a vacation in years and, even if there are potential long-term savings with buying DVC sooner, I'm just not going to do it. I was just given a raise and my husband's practice is going well so maybe we just need to be patient. Like I said before - by the time we find the right Use Year contract, we may be able to afford more points! Or my husband may decide that we should start home renovations with any extra cash...
I'm pretty sure BCV is where we want to be long-term. My kids love BLT (we stayed there a few years ago and I loved it, too) but once they are older I think an Epcot Resort is where we'll want to be. Tom (DH) and I have enjoyed a few adult-only trips and that's where we prefer to be.
Everyone has so many helpful suggestions and ideas. Thank you!

Amanda

 

[Kidanifan08]

. . . To afford childcare and living expenses during those years we maxed out 5 credit cards which are finally paid off . . . Like I said before - by the time we find the right Use Year contract, we may be able to afford more points! . . . I'm pretty sure BCV is where we want to be long-term . . . Tom (DH) and I have enjoyed a few adult-only trips and that's where we prefer to be.

Congrats on getting those credit cards paid off! I can see why you wouldn't want to finance vacation. I was so relieved when we finally got out from under the student loans. DW and I practiced for 9 years before I went back for a fellowship. During that fellowship time, we adopted our son ($$) and went through much of our savings for that wonderful project, as well as trying to live on about 1/3 less than we were used to. Oh yeah, and we had to put in a new furnace 4 months before selling our house at the end of fellowship. By the end of fellowhip, our cushion was nearly gone, so financing DVC was the only way to get into it when we wanted to. We knew we would have no trouble paying it off quickly, but I shutter to think we paid 11% interest for those two years!

I should adjust part of my comment in post #6 -- the AKV value 1BR would not work for you, as it has a max of 4 in the room, but the 2BR is a great value.

I can understand the attraction of BCV. I am constantly looking at the resale sites for a small BWV or BCV contract to use every other or every third year for F&W. DW thinks I'm nuts. This link will show you the UY distribution by resort:

http://dvcnews.com/index.php/dvc-program/owning-dvc/2014-updated-points-distribution-by-use-year

As you can see, Jun and Aug make up less than 20% of the points sold, so that may add to a limited resale selection, as well. This is important to know if your plan is to add small contracts sequentially over a few years. Also, the small contract tend to go for a higher price per point, and the closing costs are fairly high for the small contracts as well, compared to a larger contract, which may have nearly the same closing costs.

This is a great place to learn about resale purchasing. Keep reading the threads and posting questions. There are many very experienced "resale experts" on these boards. I have learned a ton in the past 2 years just from reading all the different resale posts.

 

[a742246]

Ususally, you can get better prices on 150pt and up contracts, so I would wait until you have that amount. Try and get a usable loaded contract, they don't add much to the price. Once you have a fair price that you want to spend, you will have a couple of options. One you can search the resale sites and call when you see one that you like, the other is to call and speak to a broker and tell them what you want, get on their mailing list, and maybe they will have something that will please you.
Anyway, you sound like a perfect candidate for a DVC, Good Luck to you!

 

[lovin'fl]

You can book any 1BR for 5 guests...just OKW, AKV and BLT are the only ones with ample beds for 5. You can book a 1BR at BCV for 5. We have booked 1BRs many times...even at HH and SSR and BWV. We are a fam of 5 too. You just have to bring an airbed and blanket and towel for the 5th person.

I also get the draw of the boardwalk area resorts...being close to Epcot. I wish we had bought BWV points instead of OKW points (back in 2006). If we had BWV points we could book the lesser point standard view (which almost always get booked up before the 7 month window) and save points as well as be w/in walking distance to Epcot. Have you considered BWV...100 points will go farther there?

 

[Deb & Bill]

With F&W and the marathon, BLT could be a very good choice. You can take the monorail to F&W easily (we did it this last October) and you can take the monorail to Epcot for the race (and back from the race) instead of using a bus. Plus BLT has the sleeper chair.

We've tried to get BLT for the marathon (one bedroom) two years ago on the waitlist and it never came through. We got on the waitlist about five months out and we only had three nights on the list. So that tells you about the popularity of BLT during the marathon.

 

[WonderinAland]

Another 2 doc, 3 kid family here. We initially bought direct through Disney, 200 points at BLT. Financed, but paid off in one year. Just added on at BWV, resale. We will be going for Spring Break, staying in a one bedroom, bringing an air mattress for the 5 yo. Also going for Fall Break/F&W, which the 11 and 9 yos are starting to enjoy. We did the add on for Epcot/DHS area, and the looming need for a 2 bedroom (puberty!)

Start where you feel comfortable. You can always add on later. And it sounds like you will want to keep going, even once the kids are out of the nest, which I feel is important when buying DVC.

 

[DrMomof3]

Thank you SO much for all the great thoughts and information!
The distribution of Use Year was super interesting and informative. Food for thought! I had forgotten that DVC members could put 5 in a one bedroom villa. That would definitely help the points go a bit further...
I definitely need to review this all with my husband (who relies on me to collect this information and then share it) and see what he thinks about different resort options.

Greatly appreciated!
Amanda

 

[DrMomof3]

Just a little update....
I spoke to my husband about the difficulty with our preferred Use Years being limited at Beach Club and we discussed several options: Look for a February Use Year which is more common at BCV or consider another resort - likely either BWV or BLT. We are heading down to Disney (staying off-site) for the Princess Half and have dinner reservations at Il Mulino (at the Swan). We plan to arrive a little early and take a peek at the pool at BWV. We'll have the kids with us so we can determine any clown phobia at that time.
He seems pretty supportive of the idea of buying a resale contract and maybe even willing to increase the number of points for an initial contract. All positives.
(In exchange I may find myself the proud owner of partial season ticket contract with the NY Yankees. Ah the compromises we make in marriage.... I actually like the Yankees so it's all good!).

Amanda

 

[DizBub]

Just a little update....
I spoke to my husband about the difficulty with our preferred Use Years being limited at Beach Club and we discussed several options: Look for a February Use Year which is more common at BCV or consider another resort - likely either BWV or BLT. We are heading down to Disney (staying off-site) for the Princess Half and have dinner reservations at Il Mulino (at the Swan). We plan to arrive a little early and take a peek at the pool at BWV. We'll have the kids with us so we can determine any clown phobia at that time.
He seems pretty supportive of the idea of buying a resale contract and maybe even willing to increase the number of points for an initial contract. All positives.
(In exchange I may find myself the proud owner of partial season ticket contract with the NY Yankees. Ah the compromises we make in marriage.... I actually like the Yankees so it's all good!).

Amanda

Just a reminder.....when you visit the BWV pool, there is a model Villa open on the boardwalk just to the right of Big River Grill. It will give you a sense of how much room there is for that 5th person. Try to get over to BCV and take a look at SAB. You have to own there to use it but you can pool hop to BWV.

We have a Feb UY and our banking deadline is Sept 30. If you travel in Aug that would give you ample time to bank if you should need to cancel.

Enjoy your trip!!

 

[333disneymom]

Just a little update....
I spoke to my husband about the difficulty with our preferred Use Years being limited at Beach Club and we discussed several options: Look for a February Use Year which is more common at BCV or consider another resort - likely either BWV or BLT. We are heading down to Disney (staying off-site) for the Princess Half and have dinner reservations at Il Mulino (at the Swan). We plan to arrive a little early and take a peek at the pool at BWV. We'll have the kids with us so we can determine any clown phobia at that time.
He seems pretty supportive of the idea of buying a resale contract and maybe even willing to increase the number of points for an initial contract. All positives.
(In exchange I may find myself the proud owner of partial season ticket contract with the NY Yankees. Ah the compromises we make in marriage.... I actually like the Yankees so it's all good!).

Amanda

I love the possible compromise. The only problem with a February UY would be with your travel and cancellations possibilities for Food &Wine. If you intend to make that part of your annual trips now or later, June or August might be better options (not sure if BWV or BLT have more availability of August UY). If it helps, I don't own at BCV and just booked an August trip at 7 months with no problems. Of course, it's not a guarantee.

 

[Deb & Bill]

Just a little update....
I spoke to my husband about the difficulty with our preferred Use Years being limited at Beach Club and we discussed several options: Look for a February Use Year which is more common at BCV or consider another resort - likely either BWV or BLT. We are heading down to Disney (staying off-site) for the Princess Half and have dinner reservations at Il Mulino (at the Swan). We plan to arrive a little early and take a peek at the pool at BWV. We'll have the kids with us so we can determine any clown phobia at that time.
He seems pretty supportive of the idea of buying a resale contract and maybe even willing to increase the number of points for an initial contract. All positives.
(In exchange I may find myself the proud owner of partial season ticket contract with the NY Yankees. Ah the compromises we make in marriage.... I actually like the Yankees so it's all good!).

Amanda

If the marathon (in January) is big for you, a Feb UY won't work as well. If for some reason you have to cancel a January reservation, you only have until the end of January to use the points. Unless you cancel it by the end of September and are still able to bank those points.