Considering DVC- lots of ?'s

[daisy2000]

We like the location and overall feel of BWV but realize that the only way to get BW now is thru resale. Would it be better to just wait for BCV? It seems from what I've read here that there may be some undesirable aspects of BCV like overcrowding of SAB and lack of views.

What would be any disadvantage of going resale as opposed to buying direct from Disney?

Also, can someone explain "use year" and what that would mean to me if I mostly plan to travel either during February or June/July? Thanks!

 

[wdwnut]

hi: here's a link to the dvc faq on this site http://64.225.125.24/forums/showthread.php?s=&threadid=1571
use year refers to the month in which you will get that year's allotment. my use year is december, so every december 1 i get my yearly allotment of points. use year is important as far as banking and borrowing go. this year we went for a week in may, my son's honeymoon is this month and of course they're staying on my points, and we have a trip planned for november. i had to "borrow" some points for my november trip since i didn't have enough of the 2000 points to cover it. once the points are borrowed, they must be used by the end of the use year(2001); this is only a problem if you need to change your travel plans. as far as banking goes, you have 6 months to bank 100% of your points if you know you won't be using them or are saving them for a bigger trip or accomodations. this means if i want to bank all of my december use year points, i would have to do so by may 31. as far as buying resale, you would have to provide your own financing (like a home equity loan). you would also have to pay closing costs. the cost per point is generally less than what disney is charging. when you buy directly from disney, you will be able to use their financing which is sometimes better than the bank rates. you should check with your bank anyway. disney also has a magical beginnings program usually where you can "sell" back a portion of your points for $5-10 per point to help come up with the down payment. as far as bcv go, they aren't adding that many units. i don't think the overcrowding of sab will be too much of a problem except at peak times. the bcv will also have their own quiet pool and jacuzzi. there's been a ton of speculation about per point costs and how many points per night will be needed. the overwhelming theme of this board is to buy where you plan to stay the most.

 

[Disney Adventurer]

daisy2000, we just went through the same thought process. We went on the DVC tour in January 2001 not knowing that the BWV were already sold out. At this time I knew nothing of the resale market. We were not interested in VWL because we loved the Boardwalk area and told our guide to let us know as soon as BCV were up for sale. After returning home I started doing some research and came across this fantastic board, thus learning of the resale market, from there the decision was easy for us, Boardwalk resale. As everyone states, buy where you are going to stay, that was Boardwalk for us. We saved over current Disney pricing and from what is rumored to be the sell price at BCV, it makes resale look even better. There are no disadvantages in going through resale, but at the same time there are no disadvantages in going through Disney. Resale gives you access to sold out resorts, and going through Disney has Magical Beginnings, no closing costs and Disney finance. As has been mentioned many times, the most important thing is buy where you are going to stay and don't be afraid of resale.

 

[LauraS]

Well, if it was me, I would not wait for BCV. I'd go for a BWV resale for sure!! You'll get all the great benefits of being in that area for *much* less, and you'll be able to stay at BCV down the road when the newness wears off!

I think that once BCV opens that SAB will be overcrowded almost all the time. It does seem that BCV will have lots of parking lot views on the one side and all garden views on the other. Nothing spectacular there. Certainly not like having a BW view, or even a Luna Park view over at BWV.


No drawbacks at all with a resale. If you are financing, you may be better off finding your own loan as a resale broker may charge you a higher rate than Disney will.

Hope this helps

Laura

 

[drusba]

Use year has to do with the date you get your annual allotment of points and establishes banking dates. It has nothing to do with when you can go (any time of year) and when you can call to reserve (11 months in advance at home resort and 7 at others).

Once you buy resale, you become a DVC member like everyone else and are treated exactly the same as anyone who buys through Disney. Timeshare brokers that specialize in Disney, like the one that is a sponsor of this board make the process very easy and quick. Resales are definitely a route to go particularly if you want BWV but you need to understand exactly what you are buying and what actual cost is:

1. With Disney, Disney pays closing coss (about $500). With resale, the buyer does unless negotiated otherwise. Also, price is negotiable in a resale (not with Disney). Moreover, there are dues prorations done at closing with a resale and you can negotiate what proportion for the applicable year you will pay.

2. When you buy from Disney you usually get a use year that begins about 5 months before the date of sale and thus you get a full allotment of points dating back 5 months which can be immediately used or banked into the next year. With a resale, you must check closely at what you are actually buying in currently available points. Often, you will see resales where the seller has already used the current year's points and may have even borrowed and used next year's. That kind of contract basically leaves you with a purchase where you cannot even go to Disney on points for a year or two. That kind of contract is also less valuable (and thus should go at a lower price than) a contract where all current points are available and possibly there are even some additional banked points from the prior year.

3. Financing is a major issue. If you can pay cash a resale is ideal; if you need to finance then you have to find a lender. Best would be to get a home equity loan on your existing home--that would have a lower interest rate than even Disney is offering. Absent that you will need a financing company that does timeshares. Timeshare brokers have access to them and thus they are not that hard to find but they will most likely be charging an interest rate that is higher, often by 3 percentage points, than Disney is offering. Because of the differences in rates, the true overall cost of buying through Disney at $75 a point can actually be less than buying a resale at $65 a point. Thus you need to carefully consider what your overall cost will be and not just that your point price is less than Disney.

 

[IATKOTC]

We just returned form a wonderfully family vacation at Disney in which we stayed at the Beach Club Resort. We loved the location and style of this facility. While there, I attended a DVC open house and we have pretty much made up our mind that we will become members. The question is where and when. I have learned much by reading the questions and replies on this forum. This particular thread is very interesting to me because it involves the same questions / concerns we have. I think we really would like to wait for the BCV because we liked it there so much. The questions, of course, are the unknowns. I know I have read there are rumors as to point cost and point allocation per room, can anyone tell me what the prevailing wisdom is and when they will be available for sale.

Also, I have been keeping up with most of the acronyms so far but could someone tell me what SAB is (dumb question, I know). Thanks

 

[SleepyatDVC]

SAB = storm along bay (the pool at BC )

 

[drusba]

BCV is expected to open next Sep by Disney's current estimates.There have been rumors, and thus far that is all they are, that Disney might do pre-sales of BCV before Sep. What its point cost will be and number needed per night is a subject on which many of us are speculating. But understand it is all speculation at this time and no one will really know until Disney tells us. If you would like my pure speculation it is that BCV will go on sale somewhere near $80 a point and its points per night will be same as BWV preferred.

 

[Laurajean1014]

Be careful, not all resale deals are created fairly.

$65/pp is no bargain ~ it's actually more expensive (once you analyze it). Most resales also have borrowed points (your actually paying for someone else's vacation).

The only way you can benefit is to find a resale for no more than $59.50/pp with at least 1/2 the points banked and have the seller pay closing costs. Then of course, if you need to finance, you should use an equity loan (to capture the same benefit as Disney financing).

My assumption is that BCV will be spectacular ~ and for a short walk, surrey or boat ride, you can be at Boardwalk! Also, the pool at BC is wonderful and offers the same closeness to MGM and Epcot.

Hope this helps.

L

 

[Richyams]

I must have a different calculator. It seems to me that $65 per point would still be a great deal.

Assume that there are all current available and the next use year is just over six months away, this is exactly how you get your points when you buy from Disney.

Now, lets even make it a worst case scenerio, you are only buying 100 points, lets make it worse yet and assume too high of clocing costs, $500. Or $5 per point.

$65 plus $5 for closing is still lower than $75......if you buy more than 100 points, you cost is even lower because your closing is divided among more points.

$65 is a good deal, especially when you analyze it.

 

[Disney Adventurer]

Help me with the math, maybe I'm a little slow but here's how I figure break even.

If I buy 150 points:

Option 1: Buy from Disney
$75/pt x 150 points = $11,250
Take advantage of Magical Beginnings and sell back half
current years points (I think this is max ?) $5/pt x 75 = $375
No closing costs with Disney
Total Purchase price is $10,875 with 75 banked points

Option 2: Buy resale (let's assume $65/pt)
Lets assume no banked points
$65/pt x 150 points = $9,750
Closing costs of $450
Total Purchase price is $10,200

The only difference in the above two options is 75 points. If you did find a resale with banked points (let's say 75 for the heck of it) you would probably be asked to pay unused dues which would amount to a max of $287 (3.83 x 75). Bringing the total in option 2 to $10,487. The only other difference would be whether or not you can get a tax advantage on a resale. $65/pt may not be a great bargin, but to me it doesn't appear to be more expensive.

 

[daisy2000]

Thank you all for the great info!
I'm hoping that we can do WDW this winter and maybe they will then have a better idea of when BCV will be available for purchase, and we can at least perhaps see some drawings. That may help in making a decision.

 

[palmerjl]

First of all if you wait for something @ $59.50/pt you'll NEVER be a member.

Second, if you want something other than VWL or BCV, resale is the only option. If you desire BWV, you may not be able to demand things like closing costs or banked points, since these contracts are not in great supply.