Considering....

[rchristiansen]

Well I just rented some points from another user for 5 days in Oct. I'm very excited about going and am starting to think I might want to get some points of my own .

I'm researching the idea of purchasing resale points. Give me pros and cons to resales. Also, I think we would at most need 75 points each year. We could only go once a year for about 5-6 days due to vacation schedules etc. I'm very open to what resort I go to.

Also, if I buy resale points, can I ever buy more points in the future?

Here's your chance to give me some advice .

Thanks!
Becky

 

[av8tor]

Go for it!!!!.......We just made the decision to buy into DVC, decided on the resale route and now we are awaiting ROFR.

We were going to buy new at SSR thru Disney before I found the DIS boards and learned more about resales. I posted a few threads seeking advice and the overwhelming response was to decide which resort we most wanted to stay at and buy there. I am sure SSR is very nice (alot of recent posts to that effect) but the fact is we haven't stayed at any of the DVC resorts and we have small children and wish to be close to the parks.

Buying from Disney is very convenient and you'll have the benefit of a full 50 years of membership. Resales are cheaper and you can buy at any location you want.

Good Luck!!!

 

[rchristiansen]

Please explain was ROFR is...

 

[tjkraz]

ROFR = Right of First Refusal. The ownership agreements include a ROFR clause which enable DVC to buy-back the points at the rate you negotiate if they feel the price is too low.

Since you are headed to WDW in just a few months, I would personally recommend waiting until that stay to decide further on ownership. Choosing a Home resort is one of the most important parts of the process, and being at WDW will enable you to tour each of the DVC properties if you so desire.

You can also tour the model rooms at Saratoga Springs. Based upon your 75 point estimate, I'm assuming you are only planning on stays in a studio unit. IMO, you need to view the other room types before deciding that you want to commit to a studio forever.

Between the Food and Wine festival and Halloween, October can be one of the more difficult periods to book. This is all the more reason for choosing the right Home resort.

If you choose to buy a resale, closing costs vary little depending on the number of points you buy. Figure on something in the $400 neighborhood. So, on a small 75-point contract, you can expect to add another $5-6 per point to your purchase price just to cover the closing costs.

If you buy a resale, you must finance the purchase yourself. If you buy direct from DVC, they can finance the purchase for you. The interest rates are reasonable, they require as little as 10% down, and you can finance for up to 10 years. But to buy from DVC you must purchase at least 150 points.

If you are able, a Home Equity line will likely represent the most cost-effective financing you can obtain, whether you buy from DVC or a resale.

 

[Dean]

If you already have the habit of visiting WDW most years, DVC might be a good fit for you. I agree that 75 points is pretty small and fairly expensive pp comparatively. That small of a point contract is also very restrictive. If you're thinking 5-6 days every year in a studio avoiding weekends, I'd recommend you reconsider your choices. Most people who start out with a studio plan, end up in larger units with more points. If I were in that situation, I'd buy 150 points or just look at cash by rental or direct.

Make your visit in October and look around at as many of the resorts as you can. Take the tour if your interested. You cannot get less than 150 points from DVC as the initial purchase but could add on later as long as DVC is still selling. Just remember that add ons from DVC will likely not be at your home resort, though there are exceptions.

Resale contracts carry all the same member privileges as a direct purchase. Desired home resort should be your major direction. If you don't care which resort and want to stay almost exclusively at WDW, price is the main issue. OKW will likely be the cheapest both in terms of upfront costs and yearly dues.

 

[rchristiansen]

Thanks for your advice. I'm of those people that want to experience every resort at one time - that's the fun for me -. I really like them all and I don't think I could pick a favorite --- I just like being at Disney. . The suggestion about buying more points because I might want a bigger room in the future is a valid one.

Keep the advice coming. I'm pretty sure I will regret not buying into DVC in the near future because for what I have paid for my last three trips, would already paid for half.

Thanks!

 

[Happy Birthday Cat]

Originally posted by rchristiansen
I'm pretty sure I will regret not buying into DVC in the near future because for what I have paid for my last three trips, would already paid for half.
Thanks!

That's what pushed us over the DVC edge. On our last trip prior to DVC we had two connecting rooms at the Poly for Easter week. As you can imagine, if I had those thousands of dollars back to put toward paying a contract, I could afford another add-on right now.

HBC

 

[Like to Dis]

We have been to Disney many times and just purchased DVC. We went thru DVC and bought at SSR. When we did it Disney was offering many deals pre-opening that helped make up our minds. Now we don't shop for hotel prices and make one big trip, we try and figure out how to string days together and fly/drive down 2-3 times a year. Went down in May, going in August, then again in November. We went with SSR for the 50 years and convenience but may add-on at another resort (not sure yet).
Good luck

 

[rchristiansen]

Ok, today has been the day of thinking about DVC. I figured I only want 100 points as that is all we truly would need because 1) my husband only has a limited amount of vacation time and 2) I don't want to spend my entire savings on this. So I called "The Timeshare Store" and got some really good ideas. I put myself on a waiting list for Old Key West. The sales person suggested that due to the low maintenance cost and that my home resort is always at Orlando. She said these contracts are very hard to come by, hence the waiting list. But that's ok with me. I have to get through my October trip first.

So wish me luck that something pops up.

Becky

 

[jmminarik]

Originally posted by rchristiansen
Keep the advice coming. I'm pretty sure I will regret not buying into DVC in the near future because for what I have paid for my last three trips, would already paid for half.

Thanks!

Read through every thread on this board for a few pages. It may take a while, but there will be things you'd never think to ask.

OKW is probably the "best" choice for a home resort if you want a small contract and the 11 month booking window. The room costs per night (for points) is lowest at OKW, and as you mentioned, the maintenance fees are currently the lowest. That can, of course, change.

Of course, if you prefer the theming someplace else and want more of a 'hotel resort' feel, OKW isn't the place to book. Besides, historically in my anecdotal experience, OKW is the easiest resort to get into below the 7 month mark. If you buy say, BWV, odds are pretty good you can still get a studio at OKW with only a few months (weeks even!) notice. It usually doesn't work the other way around.

If you can pull off buying 150 points, you may find there are more contracts available...at all of the resorts.

Hope this helps,
Joe