Considering Buying DVC - Need Opinions Please

[Happy Mom2]

WoW! There is just so much information, and I have so much more to learn. Thank you all for the responses. We are in no hurry for purchase and I'm really not concerned about the changes in March. I am seriously considering purchasing resale, but I need to decide which resort first.

 

[DisOwl]

If you are interested in BLT, there is a rumor that the base price is going up to $140 per point. (Right now, it is $130 per point.) Although this sounds high, it is not unusual for DVC to offer incentives to buy points from certain resorts, which might reduce the ultimate price you will pay per point. There are no guarantees, however, that incentives will be offered for BLT.

If you are not interested in BLT, then the price increase will not matter. Also, you might be able to purchase BLT via resale even if the price goes up if you do not care about the new restrictions on resale points.

I purchased at BLT and have absolutely no regrets. I chose BLT because I like having the option to walk to MK and to take the monorail to Epcot. I also love the Top of the World Lounge, which has great views of the castle and fireworks.

 

[JimMIA]

If you are interested in BLT, there is a rumor that the base price is going up to $140 per point. (Right now, it is $130 per point.) Although this sounds high, it is not unusual for DVC to offer incentives to buy points from certain resorts, which might reduce the ultimate price you will pay per point. There are no guarantees, however, that incentives will be offered for BLT.

Another option would be to buy resale at $60-80 per point, and use those points to stay at BLT if you want. No, you won't be able to book Christmas Week with MK view, but you'll find BLT available most of the time.

BLT direct - $130 X 160 points = $20,800

Resale @ $80 X 160 = $12,800

Resale @ $60 X 160 = $9,600

All of those prices are probably a little more than you would really pay. You could get BLT for less than $130 with incentives, and you could get resales lower than above, depending on which resort you really want.

 

[Happy Mom2]

I've really been reading up on the different DVC resorts today. In typical fashion I have even developed a spreadsheet to compare the different resorts, their locations, what they have to offer, etc. I've only gone through about 3 resorts, but I'm wondering if there are any other type A's who have already completed a spreadsheet they wouldn't mind sharing.

The more I look at resale, the more I think that is the way we want to go. The savings is just too substantial to pass up. We are still a long way from doing anything, but at least I'm am starting to gain an understanding of how things work.

I want to thank all of you for your thoughts and opinions. You have all been so kind. Thank you!!

 

[mtquinn]

Hi. Funny you mentioned the spreadsheet, but my DH put one together before we decided to make an offer on a BWV resale contract. He calculated price per point, deposits, down payments, MF's, financing, etc. VERY informative. I don't know how to fwd such a thing to you, but I can tell you it's well worth your effort to draw one up and input direct vs. resale. HUGE price difference. We compared BLT direct 150 points vs BWV resale (not a fair comparison, but those were our two top choices) and BLT was about $19,000, while resale was $8200! Whoa.

Yesterday we signed an agreement for BWV 150 points at $50 per point with us paying the 2011 MF. Now the dreaded ROFR, but I am hearing Disney is not actively buying back BWV. Let's hope.

What we liked about the contract was the backdated points. It has not only 2010 points, but a bunch of '09 points as well! Lots of contracts are stripped, with little or no current/borrowed points available to use. We went with Fidelity timeshares and it is a breeze so far.

To me, it isn't even an option to by direct, though I hate all this waiting through resale. That's the only killer about the process. Lots of waiting. Anyway, good luck! If you like, you can PM me with any resale questions.

 

[Dziactor]

I bought into DVC pretty quick and since done two addons. I bought at Bay Lake for its small annual dues, monorail access, its design (futuristic) as well as how its not all spread out, and its proximity to Magic Kindgom. Since purchasing i've stayed twice and added on as well.

 

[kristenrice]

As far as resort choices go, I'll give you my $0.02...

I would take a hard look at AKV. The 2BR VALUE at AKV would be a great option for your desired travel plans. The value villas at AKV are one of the best kept secrets because people see the low point requirements and think they will get a view of the dung pit! NOT TRUE!!!

There are only (10) 2BR lock-offs in the value category so they go quickly. Owning at AKV is the best way to secure a reservation in a value villa. You can also stay in a 1BR at Kidani. They have the sleeper chair so your children will not have to share a bed and they also have an additional bathroom.

The room layouts at AKV are wonderful and the points required are not out of line with most of the other resorts. In fact, I think the points chart at AKV provides some of the best "value" of any of the DVC resorts.

Good luck with your decision! You've come to the right place to get your questions answered.

 

[Happy Mom2]

I have a question about add-ons. If I purchase in AKV, then add on at BLT, are AKV and BLT considered my "home" resorts or is only AKV my "home" resort because that is where I purchased first? I hope that made sense.

 

[Deb & Bill]

I have a question about add-ons. If I purchase in AKV, then add on at BLT, are AKV and BLT considered my "home" resorts or is only AKV my "home" resort because that is where I purchased first? I hope that made sense.

Nope, both would be a home resort. And you would be able to use those points at those resorts at 11 months to make a reservation. You couldn't use AKV points at BLT at 11 months or vice versa.

 

[toocherie]

This is exactly the kind of non-thinking panic response DVC hopes you will have. Take your time, do your research, and don't listen to junk like this.First of all, the date is March 20, not March 31. And that is the date by which a prospective buyer must make an offer, have the offer accepted, and the contract must be submitted to DVC for ROFR review. ROFR submission typically happens the next business day after both parties agree to the sale. There are still almost two months for the prospective buyer to meet that very low hurdle -- PLENTY of time to do your homework.

There is one critical point to understand about the March 20 changes -- the items being withdrawn from new resale purchasers are PERKS...not core features of DVC ownership. DVC can change perks at any time with the swipe of a pen, and there is absolutely nothing preventing them from removing those perks from direct purchasers as well.

 

[nunzia]

...and just another little thing to add to your list of considerations..if possible, buy your points in smaller chunks than the 160..fairly easy to do with resale, although you'll want all your points in the same use year. That way, if you feel a need or want to not have as many points, you can sell a 'chunk' and still have some points for use for smaller rooms or shorter vacations. I have 225 points, my contracts are :60, 65, 50 and 50, so I have flexibility on how many points to keep or sell if I go that route down the road. Even with the changes, I think smaller contracts will still be easier to sell than not. Since Disney had the minimum purchase in place of 160 and the resort I own at had not yet even gone online and resales were not available, I bought a 25 point resale at OKW to get in the system, then bought my contracts for VGC direct from Disney (at decent prices), then sold my OKW points and broke even. So many possibilities and you're smart to be taking your time in making this decision.
Oh..I have no regrets!

 

[jsivigny]

These open ended threads are really interesting. You get very different perspectives as to what folks view as important. Some say buy where you want to stay. Some say buy resale, because initial costs are much lower. Now there are issues with Resale vs Direct. Good stuff.

Some other ways to look at it...If you have a good stable financial situation and purchasing DVC timeshare isn't a big burden, then definitely buy where you want to stay. In the long run, makes good sense, but the costs tend to be higher.

If you have limited financial resources and if you are flexible and don't care as much where you want to stay (really, is there a bad DVC resort) than I think buying Resale at an SSR and OKW offers the best overall value. Lowest up front costs and reasonable maintenance fees. SSR has longer lease term but OKW has larger rooms. Lots of pros and cons.

If you LOVE Beach Club or BLT or other perceived higher-end resort AND you have flexibility on when you can vacation, then you can still buy Resale at a good initial cost and use those points for stays at BLT or BCV. The issue is that you have to book at the 7 month window and as long as you aren't trying to go at peak times (Christmas/Easter/Mid-Summer Vacation etc), you can generally get in. If you have to stay at BLT over Christmas....well, you better buy at BLT as your home resort.

The way I saw it...the more flexible you are on both when you want to vacation and the resort you want to stay in, the less costly it could be. If you really want to stay at a particular resort that is more expensive (BLT or BCV) then by all means, buy where you want to stay. Also, if money isn't a serious concern, buy where you want to stay. Otherwise, resale for the other resorts work fine.

I have a 5 yr old DD and 3 yr old DS. Love the monorail and own at SSR. We are using points for a BLT stay this upcoming May (not Peak season) and had no trouble getting a 2BR LV room. If we wanted a July stay...well, that would have been much tougher. Just another way to look at it. Good Luck.

 

[Happy Mom2]

Nope, both would be a home resort. And you would be able to use those points at those resorts at 11 months to make a reservation. You couldn't use AKV points at BLT at 11 months or vice versa.

Thank you! Now I understand.

 

[WDWBlue]

...and just another little thing to add to your list of considerations..if possible, buy your points in smaller chunks than the 160..fairly easy to do with resale, although you'll want all your points in the same use year. That way, if you feel a need or want to not have as many points, you can sell a 'chunk' and still have some points for use for smaller rooms or shorter vacations. I have 225 points, my contracts are :60, 65, 50 and 50, so I have flexibility on how many points to keep or sell if I go that route down the road. Even with the changes, I think smaller contracts will still be easier to sell than not. Since Disney had the minimum purchase in place of 160 and the resort I own at had not yet even gone online and resales were not available, I bought a 25 point resale at OKW to get in the system, then bought my contracts for VGC direct from Disney (at decent prices), then sold my OKW points and broke even. So many possibilities and you're smart to be taking your time in making this decision.
Oh..I have no regrets!

Great advise. But this is accomplished much easier with a Disney direct purchase

 

[nunzia]

Great advise. But this is accomplished much easier with a Disney direct purchase

Yes it is, which is why I went direct with Disney since my resort was pretty much impossible to buy resale at that time and still is for the 'perfect' contract. With lots of patience and buying at OKW or SSR or even AKV (seems like alot of AKV out there) you could probably do it in time.
Also..if buying multiple small contracts on resale be aware that you will pay closing costs EACH time, while at Disney there are no closing costs for add ons, so that will save you a chunk in the difference between resale and direct on small contracts..
There is alot to factor into this big of a decision and those who come here trying to figure it out are way ahead of those who don't..

 

[Happy Mom2]

You all give me lots to think about. It's a good thing I'm not in a hurry! I am definitely taking my time, doing all my research, and will make a sound decision.

 

[Happy Mom2]

I received my DVC package in the mail. It was so big, and it came via Fed Ex that my DH asked if I had bought in already!! I've been doing all my research to present it to him. I thought it was going to be a hard sell, but from his reaction I think he is up for it if I have the numbers to back me up!!

So... I have a question... in my packet there is a 2011 Vacation and Points Chart. My understanding is the advantage of buying into DVC is you pay today's prices for tomorrow's vacation. My question is once you buy in to DVC do the number of points needed to get a the same room at the same time at the same time each year to continue to increase each year or do they stay the same? In other words, if I buy in this year, will a studio at AKL with a SV the 1st week of December cost me 102 points every year for the next 40 or so years or will the number of points needed increase each year as the maintenance fees do? If they increase (please say they don't), isn't that the same as normal rates increasing over time?

Again, thank you for all your help.

 

[Deb & Bill]

...So... I have a question... in my packet there is a 2011 Vacation and Points Chart. My understanding is the advantage of buying into DVC is you pay today's prices for tomorrow's vacation. My question is once you buy in to DVC do the number of points needed to get a the same room at the same time at the same time each year to continue to increase each year or do they stay the same? In other words, if I buy in this year, will a studio at AKL with a SV the 1st week of December cost me 102 points every year for the next 40 or so years or will the number of points needed increase each year as the maintenance fees do? If they increase (please say they don't), isn't that the same as normal rates increasing over time?

Again, thank you for all your help.

Maybe. DVC can rearrange the points each year if they want to, but only a certain percentage of the points. And where points go up, they must go down somewhere else. So they could raise points for Sun through Thur and lower them Fri and Sat nights (like they did recently).

So the members who bought in planning to only go Sun through Thur (it used to be a lot cheaper to go only those five nights), now were short a few points. Not a whole lot, but they now have to borrow to get those same five nights. But the members who bought enough to stay an entire week, use about the same but Fri and Sat night went down.

Or they could raise the number of points required for early Dec and lower them for summer time.

 

[Happy Mom2]

Maybe. DVC can rearrange the points each year if they want to, but only a certain percentage of the points. And where points go up, they must go down somewhere else. So they could raise points for Sun through Thur and lower them Fri and Sat nights (like they did recently).

So the members who bought in planning to only go Sun through Thur (it used to be a lot cheaper to go only those five nights), now were short a few points. Not a whole lot, but they now have to borrow to get those same five nights. But the members who bought enough to stay an entire week, use about the same but Fri and Sat night went down.

Or they could raise the number of points required for early Dec and lower them for summer time.

Thank you. I understand, I think.

 

[Deb & Bill]

Thank you. I understand, I think.

The total number of points for a resort have to stay constant. Unless they add a new building or two to the resort. Like they did at OKW with Bldg 62, 63 and 64. And like they did with SSR with the THV.