Constantly thinking about buying and want some opinions

[ajpruett]

Hey all,

I must say that over the last couple of days, I have become obsessed with this board and thinking about buying, but the more I think the more I become anxious and confused, so I thought I would post general questions here. I've tried to search, but usually end up with more questions so I appreciate everyone's time and honest answers.

To begin with, here is a little about my needs. I'm 30, have flexibility with traveling, have a partner. He and I have no children and don't intend to. We are close to our parents and siblings who do have children so an extended family trip every 2 or 3 years would be a great bonus, but isn't the deciding factor. We are both runners and at this point in time would see ourselves going to Disney each year for marathon weekend (this date is probably number one priority), and then would like to do a race or visit in October or visit DL for half marathon over labor day. We are more likely to visit in off season as we hate lines and have more flexibility. Studios would be fine, 1 bedroom would be perfect, and 2 bedroom would likely be needed for a rare occasion.

Ok, now the questions.

1. Disney vs. Resale? BLT looks amazing it seems like our needs might be met elsewhere and more affordable. We like nicer accommodations but at this point, I think we place value of our purchase over the 11 month window for BLT or AKV unless there is a point I'm overlooking?

2. Financing? I know Disney has financing. What is APR like for that? Are there ways to break payments up and not face interest or heavy interest burden? Do resellers offer financing? What are people's experience with financing?

3. Reservations? I've seen some people complain about getting reservations. Knowing our needs would this be difficult? Is there a certain place that might be better for us to buy to have the additional window to have better chance of getting what we want?

4. Points? Based on our needs, how many points would you recommend getting now. Do most people buy at 1 place and then add on at another?

In general are there any places you would avoid buying? Compelling reasons to buy with Disney vs reseller?

I apologize if this material is at all redundant but extremely helpful to me in making my decision. Thanks so much for being kind to a newbie

 

[Sandisw]

We bought at BLT because that is where we knew we wanted to be and wanted the 11 month window. We also knew that we were paying more to do that but that was okay with us.

If you know that you would be okay buying at the other resorts and want to get a good deal, then choosing one of the other resorts will definitely save you some money.

Right now, SSR is a great deal via resale, both the upfront cost and MF's. Plus, it's contract is good until 2054 vs. some of the other resorts that expire in 2042.

As far as the # of points, I would look at the 2010 charts and get an idea of what you would need for the January marathon trip and the fall trip and go from there. Once you buy, adding on is easy if you find you need more than you have (I added on within a week of becoming a member!!!!).

I do know that you can get financing going resale and the rates are in the 10 - 11% range (similar to Disney). The best thing to do is contact one of the resale brokers and they can share with you what is available.

Good luck!

 

[Hunclemarco]

If you do choose to buy in, add a few additional points to your membership... Disney is able (on a yearly basis), change the point charts, and that can effect your ability to make reservations if you're going by "exact points". There is a set point amount at each resort, but Disney is able to realocate those points to different seasons, days, etc...

Disney's inital point purchase is 160 points if buying through Disney. You can buy resale at a much lower point purchase.

Many will purchase smaller contracts. They are easier to sell if that ever becomes an issue.

 

[CarolAnnC]

I think the key sentence in your post is that you see yourselves traveling to Disney every year. That makes you an excellent candidate for DVC ownership.

As far as resort selection, you should choose the resort that you would most like to stay in regularly. That is because of the 11 month booking advantage window. That ensures you are able to obtain the vacation time of your choice when booking a popular timeframe, or a popular resort.

My oldest DD just purchased at BLT and is very pleased with her choice. The proximity to the MK makes it ideal for many who want to enjoy strolling over without transportation hassles. The resort amenities there are fabulous, too.

We also own at BWV and BCV which are in the ideal location for easy access to Epcot and The Studios. I love the boat transportation and we stay there frequently.

AKV is great, and we have stayed there twice, but I would not see it as my first choice accomodation.

If you like the Treehouses, owning at SSR will be beneficial in securing availability there.

I would suggest reading through some other threads to get a feel for what people enjoy most about their home resorts.

Best wishes..

 

[baylakebisi]

You are not alone in the agony of this decision. I have waited 10 years before buying into DVC, which we did in April of this year. 10 years of agonizing and crunching numbers and waiting for the right time to strike. Overall your decision should be based on how many vacations do you plan to take at Disney and in the past trips to Disney where you stayed.

Here was my rationale...we typically vacation in the summer at a moderate hotel and recently we have been going twice a year summer and fall and both times at a moderate. The Hotel cost for those trips would cost a little less than my yearly DVC cost. However, I know in 10 years I will have paid this off. 10 years is the max, as I plan to pay this off in 2 or 3 years and my only hotel cost will be the maintenance.

We bought at Bay Lake because of the proximity to the Magic Kingdom and before going to BLT, we were struggling between BLT and AKV. We ultimately went with BLT and after our stay in November, we know we made the right choice.

1. Disney vs. Resale? A BLT resale may be more cost effective given the current pricing at Disney directly. I dont have much experience with the resale route, but you may want to get some opinions from people who have gone that route.

2. Financing? I think the curremt rates are 10.49 and 15.99 based on your FICO. You can get financing from a bank at a lower rate.

3. Reservations? This can be an issue if you are trying to book outside your home resort at a popular place. You get to book outside your resort 7 months out and book at your resort 11 months out. It can be an issue based on time of year as well as the popularity.

4. Points? Buy based on your needs and your budget. If you want to be at Disney and dont care where your home resort is, AKV may be more economical for you over BLT. 200 points for example can go further at AKV or SSR than at BLT.

Park ticket costs could be a factor in your decision if you plan to vacation more than once in a given year. For example, annual passes are good for 365 days from the date of exchange. We go for about 17 days per year and our annual passes with the $100 discount pays off after the 10th day.

Good luck with your decision.

 

[Ivette1980]

Buying a house doesn't seem this hard. I too am conflicted between buying into DVC or not. Can anyone please advise if its wise for me to purchase this year as I am visiting DL in December of 2010 not DW? I do believe I read that pts can be used at the Grand Cal., but do I want to do that or pay out of pocket for this trip and purchase in 2011 for DW. Should I use up my pts for DL?

 

[Sandisw]

Buying a house doesn't seem this hard. I too am conflicted between buying into DVC or not. Can anyone please advise if its wise for me to purchase this year as I am visiting DL in December of 2010 not DW? I do believe I read that pts can be used at the Grand Cal., but do I want to do that or pay out of pocket for this trip and purchase in 2011 for DW. Should I use up my pts for DL?

You can use points from any of the DVC resorts at GCV, but you have to wait until 7 months out to do that. The problem would be availability.

If you buy your points at GCV, with the plan to visit WDW more than DL, then you would always be waiting for the 7 month mark to book at WDW. If you don't care where you stay when at WDW, then that plan might work.

If you already know that DVC is a good fit for you, it might be worth a call to Disney to find out about your options in purchasing either at GCV or one of the WDW resorts so that the money you are spending at DL in December is put towards the purchase.

That is what we did last year. We were booked at the CR and ended up buying DVC and taking that $2000.00 we were spending on the room and paying for our deposit.

Good luck!

 

[pinnocchiosdad]

Why not try renting points from a current member. You can try out various DVC properties and see if membership is for you.

 

[LSchrow]

as if oft said, buy where you want to stay (as i sit here with zero BWV points left, waiting for the 7 month mark so we can hopefully use our many BCV & SSR points for a BW view. we face the same situation every year, and i wish we had kept all our points where we love to stay).
sigh

 

[Ivette1980]

So while at CR, they deducted your room price and put it towards your deposit. So your room you were staying in, came out free so to speak? Am I understanding that correctly? If so, wow I didn't know they would do that. I'm thinking of just paying for the DL trip out of pocket and setting up a DVC tour on my next trip to DW. Have you done one of these. I don't think I could ever make a decision through information over the phone. I think I'd have to physically see the resorts inside and out.

 

[Ivette1980]

renting pts? I never thought of that. How is this set-up? So instead of paying out of pkt for my next trip to DW before to take one of the DVC tours, I can go on a rental? AM I making recurring payments or a one time thing?

 

[tjkraz]

So while at CR, they deducted your room price and put it towards your deposit. So your room you were staying in, came out free so to speak? Am I understanding that correctly? If so, wow I didn't know they would do that.

Not quite. I believe OP is simply saying that he/she took the money earmarked for a cash hotel stay and put it toward DVC instead. Monthly payments and dues obligations on the DVC purchase begin immediately and points are used for the DVC villa stay.

It's a sound approach to take when considering a DVC purchase. Why pay for an expensive cash trip and THEN invest thousands into DVC? But nothing about it is "free".

renting pts? I never thought of that. How is this set-up? So instead of paying out of pkt for my next trip to DW before to take one of the DVC tours, I can go on a rental? AM I making recurring payments or a one time thing?

Renting is simply the process of agreeing to use another person's DVC points. You pay the member (instead of Disney) and they make a reservation in your name. There is no ownership involved on your part and after that one trip is concluded you have nothing to show for it.

Some people use rentals as a way to test drive DVC resorts before buying. But if you have decided to buy into DVC, putting the money toward the DVC purchase is the way to go.

 

[Jen_in_NH]

I'm a total DVC newbie, so I certianly dont know the ins and outs yet. These are just my thoughts going in to the purchase.

1. Disney vs. Resale? We went through Disney. Between the extra points, and the incentive, we didn't see that we would have saved much with a resale.

2. Financing? Disney was at 10.25% It depends on your credit.

3. Reservations? Not the first clue. Haven't tried yet

4. Points? We bought the 100 point minimum at AKV, and figured if we found we needed more, we'd buy then. I figured I'd rather have a smaller contract and add on, than have a larger contract and need to use less.


We're fairly flexible with where we're staying, and when we're going, so I didn't worry too much about where we bought. I liked AKV, and wouldn't be upset about staying there every time. HEck, I wouldn't be upset in a box if I were at Disney If you really want to stay somewhere, buy there. Personally, I wanted the minimum of points at the cheapest price to start out with, so AKV was perfect. That fact we really like it there was a huge bonus!

Jen

 

[Ivette1980]

I'm a total DVC newbie, so I certianly dont know the ins and outs yet. These are just my thoughts going in to the purchase.

1. Disney vs. Resale? We went through Disney. Between the extra points, and the incentive, we didn't see that we would have saved much with a resale.

2. Financing? Disney was at 10.25% It depends on your credit.

3. Reservations? Not the first clue. Haven't tried yet

4. Points? We bought the 100 point minimum at AKV, and figured if we found we needed more, we'd buy then. I figured I'd rather have a smaller contract and add on, than have a larger contract and need to use less.


We're fairly flexible with where we're staying, and when we're going, so I didn't worry too much about where we bought. I liked AKV, and wouldn't be upset about staying there every time. HEck, I wouldn't be upset in a box if I were at Disney If you really want to stay somewhere, buy there. Personally, I wanted the minimum of points at the cheapest price to start out with, so AKV was perfect. That fact we really like it there was a huge bonus!

Jen

How many in your family? I assume you have visited AKV before purchasing? If so what made you fall in love with it in comparison to the others? I'm on the fence between AKV and Saratoga. I've been to SSR but not AKV but do love the ambience AKV has (actually we've eaten there but that's about it).

SSR for me ambience wise doesn't do much for me or the kids, but the set-up of the villas is amazing. Not that I plan to spend my time at the kitchen, but I LOVE THE FULLY EQUIPPED KITCHEN! so hard.

 

[Louiepipbgeeco]

To the original poster--just want to say I totally get the agonizing and stressing that this can cause. I was in the same boat. I spent half a decade tossing this idea about. During those years I frequented Disney World and DL every year and twice one year. I finally decided this summer to bite the bullet and we bought!!!Made first ressie for home resort at 11month mark . We are split staying so 7 month mark was Nov. 29th As for your question about ressies-- I got exactly what I wanted at 7 months. I had hoped for Beach Club (a busy time as July 4th weekend during the trip) and we Got it. So, I was thrilled.
While I bought where I would like (AKV) I went with the mindset that I would be happy with whatever came our way at ressie time.
DIsney vs resale-- I did a ton of research on this one. For ME and my Family I found Direct was the best option. This was because many of the resale ones were striped --Read these very carefully. Incentives at Disney were good and I could also get a 100 pt contract to get "feet wet" I liked that I could do it easily over the phone and then they sent the papers. All very quick and VERY easy. No worries about refusal. I could pay with my credit card to get points and then I just immediately paid that bill. So win-win. No financing as I had saved and PTS on my mastercard to boot. Resale was so drawn out, did not like the stripping and I found it to be stressful because "good ones" gone asap before I could usually even bite at.
POINTS- I see you and hubby only so as you said studio is good. So I would personally buy a small contract 100-160 pts first. Try it and then add on. Note that once you are a member and add on NO DUES . And you can add as little as 25 pts at a time. Also, shop/wait for further incentives if you add later. IN THE OFF CHANCE you don't like it it is easier to sell smaller contracts than larger.
I am new to DVC but I hope this helps.
Final decision for me--LIVE My LIFE!!! I decided to stop waiting and do what makes me happy. NOw, granted I was still smart and would not put my kids or finances in jeopardy to do so, We made a financial decision we could handle and will add on as we go. BTW already planning on add on. Good luck . FWIW-- After all the time I spent stressing/researching/doubting/questioning/etc before buying>>> After, I did sign and buy NEVER ONCE LOOKED BACK, REGRETED, SECOND GUESSED, MISSED THE $$ !!! ( and haven't even been "home" yet)

 

[bumbershoot]

Just to talk about one little part of your post, we financed through disney and it's been good for us. We're willing to pay some interest to get in NOW (we don't normally feel that way); but we have been spending the money on Disney *anyway*. It might as well go towards something more than just a hotel room.

The disney financing has a higher APR, even at preferred rate, than many like; for us, with negative stuff in our long ago past that remains on credit reports, it's was actually better than we expected.

And the good part for us is that they don't mind if you send extra payments or pay it off well before it matures. They even have a little spot online to click to send in a payment of $10 or more (as long as a loan payment isn't being processed). We have a 10 year loan, and it will be done with, knock wood, in under 3.

 

[donaldsgirl]

We just bought last summer with Bay lake Tower, 175 pts. We generally go in Sept for 10 days to 2 weeks. That is least expensive time to visit and it isn't crowded at all. Unless Disney is running a crazy special, if you are careful about when you visit (last 3 weeks of sept., first half of Dec.) you shouldn't have any trouble getting what you would like. ESPECIALLY if you can have enough forthought to book reservations 6-7 mos. out. We normally book about 2 mos. out but we also own with Bonnet Creek, so to be fair we have a back-up. I will start booking our vacations at the 7 month mark because we like staying on Disney property.

If you buy through Disney, they only offer 1 (maybe 2 resorts if your lucky) for you to buy into. My husband and I sat down and did the math and buying through Disney was the most cost effective. We had the option to buy into AKL and BLT. We Bought with Bay Lake Tower simply because they have the cheapest dues. Since that is what we were going to be paying for the next 50 years, we wanted the cheapest they had. As far as how many points to buy, you really need to think about when you like to travel and what kind of room you want. If you wont have extended family with you every visit then a studio would probably be just fine for you and your partner. Also we bought through Disney because it came out cheaper (believe it or not) because you have a longer contract time on the newer resorts and lower dues. It came out to like 67.00 a pt with BLT and 83.00 a pt with Saratoga Springs. Also financing was cheaper and easier through Disney VS resale. Your credit score (699 or lower is the higher rate, 700 and above is the lower rate, or at least it was last summer.) is what would determine if you buy all upfront or buy minimum points now and add on later. If you have a fico score of 699 or lower, buy the 160 pts (minimum buy in through Disney) and add on later at the lower interest rate. If you have the 700 or above score then if they are offering a good deal then buy what you need then. Hope this helps out a little. Enjoy!!

 

[weezyree]

I think buying into DVC is a good investment especially if you are interested in vacationing once every other year at least. The flexibility is unbeatable and you can add to your points by purchasing more as you can afford to and as your vacation needs change.

We bought into it a 1.5 years ago and we love it. We booked a last minute 6 night WDW stay at Port Orleans, the meal plan, four park tickets for four people and on top of that booked a four night cruise in conjunction with it. This was a vacation we decided on before my hubby went on a 15 month deployment to Afghanistan. We spent $8000. We had saved the money so it was not put on the credit card. We then bought into DVC while on that very vacation and could have put half the money we just spent down on DVC and saved so much more money in the long run...but oh well...maybe others can learn from our mistakes.

We have since taken another 7 night vacation on DCL with a one night stay over the night before the cruise at Saratoga Springs in a two bedroom suite after my husband's return and are going on another 3 night cruise in 11 days. This time just my hubby and I with my dear Auntie!!

 

[cayman01]

To the OP,

Have you looked into any of the resorts and/or do you have a favorite? If you want to go for marathon week and in the fall (food and wine?) I would suggest buying at either Beach Club or Boardwalk for the convenience. Both of which you can get thru resale and then you have the 11 month booking option which should get you the reservations you want. people forget that the slow times for Disney parks are usually the BUSIEST times for DVC. Having the 11 month window will be a big help to you in getting the reservations you want.

I would look at a June,August or Sept. UY. This way if you have to cancel your fall or Jan. vacation you can still rebook or bank your points.

I'll always recommend re-sale unless Disney offers some great incentives. There are some now, but I do NOT believe Disney is offering BCV or BWV.
BLT is nice but remember you have to use more points to stay there for a week than at other resorts. This kind of kills the advantage of the lower MF's there.

If it matters to you where you stay, then BUY WHERE YOU WANT TO STAY. If it doesn't then look at SSR or OKW resales. The monetary savings are significant there.

Financing IS available outside of Disney (resale). I do believe TSS has a lender they use. But really, if you can, pay cash. This is a luxury item. any savings you work out are going to be lost thru interest on your debt.

 

[AirGoofy]

1. Disney vs. Resale? Disney gives you points immediately. Re-sale makes you wait for ROFR, which may be 2 months. Once you are approved for re-sale and are a member, then there are no differences. Resales are usually a lot cheaper, but some resales have different end years.

2. Financing? You do not want to finance. If you can't purchase it, you can't afford it. When something happens, do you really want to think about how horrible it is to make a payment on your vacation? Do you start to dread your vacation? I dread making the yearly dues payment.

3. Reservations? No differences. If you know the one and only resort you want to stay in, then purchase it so you can make it at 11 months. Some resorts are busier than others at specific times of the year for all DVC members, which do not necessarily coincide with crowds at the parks.

4. Points? Depends on what you want. If you are fine in a studio, then aim for that number of points. If you want to have enough points for twice a year, then go with that. If you plan every three years, then add bank,borrow, and use year, and go with that total. We went with the exact/ smallest number possible and then Disney adjusted the points. I would find the smallest number and add 5 to 10 more. You can only do that for a re-sale. If you purchase through Disney, then I think you get the standard 160.

In general are there any places you would avoid buying? Only been to 3 resorts thus far. Plan to visit them all before buying another contract or answering this question. Good luck with your decision.