DH still isn't "Sold" on DVC...help!!....FINAL DECISION #48

[weHEARTmickey]

I really don't know where to start...we've had a pretty rough 6 months & have decided we deserve another WDW vacation My mom, who now lives with us, has stage 4 breast cancer & my DH's dad passed away 1 month ago with brain cancer. Upon my FIL's death, he left some money to put on the principle of our house. This will take years off of our mortgage, so we are considering taking the plunge into DVC. It just has to "financially make since" for DH to go along with it. Several things are NOT in my favor:

1. We usually stay at value resorts so we can justify staying 10-14 days
2. We got spoiled with free dining last September
3. I'm an avid couponer & my DH is very frugal

With that being said, we are very good with our money (Dave Ramsey fans) & will be able to pay cash upfront for our DVC membership. So, I don't want it to sound like we can't afford to buy DVC, we just want it to be a good economical decision.

Here's some more info:
1. We are DH, myself, DD9, & DS6 (Mom can't go with us this year b/c of chemo---no energy & no exposure to sun!)
2. This will be our 5th year in a row to go to WDW
3. We are crazy, all-day fanatics. We usually ONLY sleep at our resort (11pm - 8am) We take 1 or 2 days to do laundry & hang out at the pool in the middle of our trips.
4. I think we will be fine staying in the studios for a couple more years...are they kinda like a VALUE room? (If so, we can have longer vacations or bank points.)
5. Our FAVORITE resort that we've "visited" (but not stayed) is the Polynesian, so a DVC resort similar to that would be great.
6. Animal Kingdom is our least favorite PARK, so I'm assuming AKL wouldn't be a good choice?
7. We've never taken the DVC tour, & don't really care to...we love WDW & would probably be thrilled with any resort after staying VALUE all these trips!

I'm sure I've forgotten 100 things, but I'm just looking for advice on whether or not you think DVC is for us & what resort would be best for us. Thank you so much Angela

 

[weHEARTmickey]

I already noticed something that I didn't ask about We would more than likely buy resale. Would you mind telling me who you used for resale & why or why not the experience was good & helpful? Please feel free to PM me if you had a bad experience.

I can just see us finally buying DVC & then something going wrong with a resale. I'd never hear the end of that!

 

[Brian Noble]

1. We usually stay at value resorts so we can justify staying 10-14 days

You are probably not a good candidate for DVC. The total cost depends a little on your assumptions about how much you could earn with your purchase cost if you instead invested it somewhere and used the proceeds to rent as you go. But, in general, a DVC studio works out to be closer in cost to a Moderate than a Value.

 

[Bill and Jen]

I have to agree with Brian, if you stay in Values DVC is not cost effective.

A value room will runs about $700 a week on average, the amount of points needed to stay in a DVC studio will be at least 70pts and thats for a Value studio in low season at AKV which you said you are not looking for.

The average studio for 1 week is about 125 pts. The annual fees would be about $625. Now add in the actual cost of the points and your spending alot more money for alot more years.

Now if you plan on becoming a family who stays at the Deluxe resorts the numbers are much more favorable.

 

[wbl2745]

Frankly, I don't think that you can really justify a DVC membership based on finances alone. I kept trying to do that and the numbers just didn't add up to DVC "paying for itself." I believe that you have to say to yourself that you want the quality and convenience of a DVC resort for frequent stays at WDW or DLR. Ultimately, I got DW to agree to a DVC purchase only after we toured the VGC. Living in Utah we are more likely to go to DLR than WDW, but this year we're doing both! It came down to deciding that we wanted the expanded room and convenience of the VGC.

My wife and I are also very fiscally conservative. Although I know that many people have decided for themselves that it is appropriate for them to finance a DVC membership, we paid cash and only bought as many points as we could afford that way.

I think that you can justify DVC, but it needs to be based on all of the facets of the decision, not just financial.

PS. I believe the advice to buy where you want to stay is excellent. You really should tour the resorts of interest and then decide.

 

[NewDCLGuy]

Let me disagree with some previous posters. DVC is perfect for you. You can afford nicer resorts. But you are cheap. Excuse me, thrifty. So you end up staying in Values. That's exactly the boat we were in before DVC.

Being smart with your money doesn't always mean taking the cheapest option. Just don't do anything stupid with your money. While DVC isn't the cheapest option, it isn't stupid financially either.

The great thing about DVC is they you make the decision once and it's done. You aren't agonizing every trip about the resort you really want to stay in, but, no, let's do the sensible thing and stay in the Values. (Note - this isn't meant as knock on the Values - I stayed on enjoyed them many a time.) And if you ever decide you don't like it, you can always sell and get a decent chuck of your money back.

There are many reasons for buying DVC. For us, it's an "investment" in our future. Not a financial investment. But a commitment to our mental health through future family togetherness. Which is a much more rewarding payoff than stocks or bonds.

Can you, comfortably, afford it?
Will you enjoy it?

Sometimes, those are more important questions than financial present value calculations.

 

[NewDCLGuy]

I already noticed something that I didn't ask about We would more than likely buy resale. Would you mind telling me who you used for resale & why or why not the experience was good & helpful? Please feel free to PM me if you had a bad experience.

There are three main companies that specialize in DVC. All get (mostly) excellent reviews. One sponsors this board. I wouldn't hesitate to buy from any of them if they have the contract you want. They are

www.dvc-resales.com
www.**********.com
www.dvcbyresale.com

 

[weHEARTmickey]

Let me disagree with some previous posters. DVC is perfect for you. You can afford nicer resorts. But you are cheap. Excuse me, thrifty. So you end up staying in Values. That's exactly the boat we were in before DVC. This cracked me up!!! You're absolutely right! My DH is cheap, but he will retire young & *hopefully* wealthy!!!!

Can you, comfortably, afford it? YES!
Will you enjoy it? YES!

Sometimes, those are more important questions than financial present value calculations.

I totally agree with you here I purchase based on my emotions (which is why I have NO problem with DVC.) DH makes purchases based on the bottom line (which is where we somewhat disagree on DVC!)

There are three main companies that specialize in DVC. All get (mostly) excellent reviews. One sponsors this board. I wouldn't hesitate to buy from any of them if they have the contract you want. They are

www.dvc-resales.com
www.**********.com
www.dvcbyresale.com

I don't want to sound rude, but I've thoroughly looked through 2 of these 3 websites, & the availabilities are way out of date. Several of them mention points banked from 2008...doesn't that mean they're expired? And some show actual banked points that I don't think are eligible anymore. I just got a little frustrated b/c I didn't think I was looking at a current availability list.

 

[weHEARTmickey]

Oops...I didn't thank the rest of you for your responses. I do appreciate you! (And wbl2745, I'm foaming at the mouth with jealousy over all the tickers in your siggy!!!)

 

[lucyem]

I don't want to sound rude, but I've thoroughly looked through 2 of these 3 websites, & the availabilities are way out of date. Several of them mention points banked from 2008...doesn't that mean they're expired? And some show actual banked points that I don't think are eligible anymore. I just got a little frustrated b/c I didn't think I was looking at a current availability list.

You are probably looking at later use years. For example an August use year - the 2010 points will not come up until August. So 2008 points banked into 2009 would still be available to use between now & August.

 

[staceymay00]

We recently purchased OKW from TSS (dvc-resales.com). The listings are current. A lot of contracts have banked points that can still be used. Our contract had a few banked 2008 points, and 2009 points that I banked to use during our 2010 UY. Our sale went very smoothly and took about six weeks from the time our offer was made until I made our first DVC reservation. Some don't, and not necessarily because of the resale company but because the seller is slow to send documents. We saved thousands over buying direct from Disney, though, and luckily things went well in our case.

I don't think you'll ever justify DVC financially comparing to a value resort, especially during free dining for four people in one room. It could be a nice way to upgrade your accommodations for less than you would likely pay without DVC, though. You can't get free dining staying on DVC points, so that might be a factor for you.

I do feel in our case we will be spending the same or less on WDW accommodations each year than we would spend without DVC if we continue to go year after year, plus we will be getting more space, a kitchen and washer/dryer. I even compared the cost to an off site condo and felt comfortable that we weren't spending an unreasonable amount more to stay on site with DVC. We have three kids and have to book two standard rooms at value and moderate resorts. We can fit five in deluxe standard rooms at several resorts but even with the great discounts we've gotten it is still a good chunk of change. Having a full size refrigerator and washer/dryer while staying on on site is a convenience I'd love to have so that made DVC more appealing to me.

We love the Polynesian and ended up buying at OKW. Not because OKW reminds us of the Polynesian, but I guess they are a little similar with separate buildings and more lush, tropical landscaping (OKW is larger and more spread out , though). There is not a Polynesian style DVC resort. The best thing to do is look at pictures on one of the websites like dvcnews.com and get a feel for which resort you like. Part of what swayed us to OKW is the larger rooms and the fact that their units require fewer points to stay than other resorts, and resale prices there are among the lowest of WDW DVC resorts. I wouldn't pick a home resort just because it's the best bargain. We also think we'll love the theme and atmosphere. Everyone has different taste so you'll want to look at pictures or even videos on youtube of the various resorts.

Good luck! It took months to finally decide it was the right move for us.

 

[vicki_c]

The resale lists I have seen are usually always up to date. I think you just don't understand how the use years work and banking so you're not recognizing what you see. You should try to understand that piece of it though definitely before deciding on making any resale offer - you want to make sure you don't over pay for what you are getting.

 

[weHEARTmickey]

Thank you lucyem--maybe that's it! Sorry for sounding "know it all" even though I don't!!

Thanks Stacey! It's funny you say all that about OKW---that's the one I was leaning towards anyway What makes me nervous is that it's older. Will that make the maintenance fees higher in the long run? We are looking at 250-300 points & that seems so expensive over the years

 

[Jason@dvcstore]

I don't want to sound rude, but I've thoroughly looked through 2 of these 3 websites, & the availabilities are way out of date. Several of them mention points banked from 2008...doesn't that mean they're expired? And some show actual banked points that I don't think are eligible anymore. I just got a little frustrated b/c I didn't think I was looking at a current availability list.

I can only refer to our website (www.dvc-resales.com) which is updated daily. You might see properties with banked points from 2008 that have an October or December use year and those points would need to be used by 10/1/10 or 12/1/10. If the points went in the account on 10/1/08 and where then banked simply moves them to be used between 10/1/09 and 10/1/10.

I think DVC might be for you as you are trying to get the most for your money and you might end up spending the same money to stay in a studio at the Boardwalk vs. staying the value hotel room.

On another note we are trying to get everyone to use the website of www.dvcstore.com as it is must easier to remember and you don't have to figure out where to put the dash.

We hope people tell their friends and family to visit the DVCSTORE.

Jason

 

[joandegennaro]

Maybe you should consider putting the inheritance in a short term type of investment...one that you can break anytime. This is what we did with the sale of our cottage...it sat for just over a year. Within that year we took a trip on a friends DVC points, you could either rent from an owner of the rent/trade board or there is a sponsor of one of the sites that works with you and a current member with points that need to be used. Take the money you were going to spend on the value accomodation and put it towards the rental. Acctually staying at OKW in a studio showed my reluctant DH what our future trips could be. We now own OKW points with plans to do some park days and alot more relaxing vacation days.

Please don't take this as me telling you what to do....just something to consider....it worked for me.

 

[robertdangelo]

I often say it's an investment in quality time with your family & the memories will last a lifetime!
The Timeshare Store is great! We're in the process of adding on at SSR throught them.
Good Luck!

 

[calypso726]

We used to stay at the values too, every year. Once in a blue moon we'd do a moderate. Add to that, we are Florida residents and annual passholders, therefore, eligible for every resort discount they could come up with One year we rented points from a DVC member and that did it for me It was so nice to have all that room, plus the ability to take our entire family in a 2 bedroom with full kitchen and washer/dryer. I loved having a balcony to sit out on and drink my coffee. It felt like I'd come home, only I was living in WDW

DH was not having it. DVC's too expensive and he could not justify the cost Well we sat and crunched the numbers. Assuming the MF's going up 3% each year and the cost of hotels going up 5-8% each year we still came out ahead by purchasing DVC which is what finally convinced DH. Keep in mind that back in 1971 a night at the Contemporary was about $30 now it is about $394 a night DVC is paying for your accommodations at today's prices. Granted, we could afford to stay deluxe prior to DVC but neither of us could wrap our heads around $300 + per night at Disney so we'd stay value. Now we have our deluxe digs and enjoy our vacations so much more and actually wound up taking more frequent vacations thanks to DVC. It's the best investment we have made for ourselves.

With regards to AKV. Animal Kingdom is not my favorite park. However, AKV is definitely my favorite resort!!! I love the themeing, I love watching the animals from our balcony I love all the activities and things there are to do there. I love that we added on there and are all set to experience our first time staying CL and doing the Sunrise Safari

 

[ToddyLu]

I first learned of DVC from a friend in 2004. I had seen the "secret" signs during our trips but didn't know what it was al about. Fast forward to 2009...at 41 I wanted to "own" a piece of Disney....always had. Last Summer I was crunching the numbers thinking I would just do it for myself and DH could come along. We do not have children and while we are not rich, we can afford to do most things that we want. I had been reading the DIS and realized that I would like DVC from reading these forums. I remember adding up the monthly notes blah,blah,blah. I was getting really excited about the prospects.....when DH questioned the validity of the purchase...my response

"Do you really want to go there Todd? You drive a Hummer H3 and bought a Jeep last week, trading my car in on it"

He saw my point quickly and together we purchased 210 points at AKV. Our first visit home was last Nov. He was really cute and had me close my eyes when we entered our studio with SV. It was just like the pictures, videos and everything I could want in a Disney trip. I can remember the grin on his face when he looked over the balcomy at the animals and started digging out his camera equipment.

Like you we had always done Values, except for the trip given to us by my MIL at POFQ.(who I might add also got her own studio SV on our trip). For the first time since 2002 (my first trip) until 2009 (9th trip) we loved going back to the room...getting a cold beverage from a fridge not an ice bucket. Doing laundry down the hall but with a flat screen TV. Have the bus meet us a gate 3 instead of 13 after a long day. Actually being able to sit on a couch to watch TV, not a bed. Those are convienences I wanted at my age on vacation...I deserved it.

DH didn't really question wether or not we needed it he knew I wanted it and supported me the whole way. Gotta love that man!!




Oh and the friend from 2004.....I used her as a referral and she got $200 bucks to use over Thanksgiving at WDW.

 

[weHEARTmickey]

Maybe you should consider putting the inheritance in a short term type of investment...one that you can break anytime. This is what we did with the sale of our cottage...it sat for just over a year. Within that year we took a trip on a friends DVC points, you could either rent from an owner of the rent/trade board or there is a sponsor of one of the sites that works with you and a current member with points that need to be used. Take the money you were going to spend on the value accomodation and put it towards the rental. Acctually staying at OKW in a studio showed my reluctant DH what our future trips could be. We now own OKW points with plans to do some park days and alot more relaxing vacation days.

Please don't take this as me telling you what to do....just something to consider....it worked for me.

If I didn't want you to tell me what to do, I wouldn't have asked for advice!! I think it's a very good idea to rent points for our upcoming trip. I just finished talking to DH & he doesn't want to jump into anything. (But remember, I'm the "couponer" & it kills me to pay for another WDW vacation, when that $$$ could go towards a DVC purchase!)

As far as investing the inheritance....DH has a sibling who isn't known for his money management abilities. Before my FIL passed away, he made sure that the kids would only get the $$$ IF it went straight on to the principles of our mortgages. This is completely fine with us b/c that's probably what we would've done with it anyway.

Thanks for all the responses! Now I guess I'll have to figure out how in the world to rent points

 

[Sammie]

DVC can save you money if you are used to staying in deluxe resorts or realize you need or want a larger accommidation such as a one bedroom or two bedroom villa.

To me those are the only situations where DVC save enough money to offset the cost.

If you enjoy the values or moderates, don't need larger accommidations, want to take advantage of free dining and discounts, then I don't see DVC being for you.

Also its a very long term committment. When we joined in the 90s we could never see ourselves not doing to Disney at least once a year. Now we go because we have the points, not because we really want to. We really would like to travel elsewhere, and while DVC sales agents will try to tell you, that you can use it anywhere, it is not as easy as they make it seem and it definitely is not the best value for trading out.