Does ANYONE regret buying into DVC???

[Chellymouse]

We bought in a few months ago and have no regrets either. We looked at Marriot in LV a few years ago and decided it was much too restrictive. We are looking forward to being able to take family and friends who could not otherwise afford a WDW trip or would be so strapped that it wouldn't be much fun. We are planning on adding on when I finish school and we can go back to our "normal" travel habits!

 

[Melrosgirl]

We are in the process of selling one of our contracts. Only reason being is that it's harder to travel more than once a year lately, so we don't need the extra points. (Plus we are making a very small profit even after commissions, so that's a nice plus. Can't do that with many timeshares!)

 

[Goofy DVC]

Members since 93 with absolutely no regrets! For us the big thing is that it forces me to go on vacation.Don't get me wrong, I love WDW as much as the next person but, I too often get wrapped up in my work and the next thing you know, two years has gone by with no fun.All work and no fun makes Jack a dull boy. Also, our kids are older now and I often think of all the lost time and memories if we had not joined.I know we would have never vacationed that much.I think for most people it comes down to $$$.Some just can't swing it or think they, can then realize they can't.Just my opinion.

 

[jana]

There are about 140,000 memberships (families) which translates into about 400,000 individual members (average just under 3 people per owner family)

Therefore the number of resales is, in reality, pretty small. The majority of those are being sold due to deaths, divorces, loss of employment, major change in financial circumstances. You get some that decide as their kids grow up they no longer wish to go the Disney (although 1) there is plenty to do outside of WDW and 2) when grandkids appear they often wish they held onto their memberships) There are a small number of people who have a bad experience ( yes it happens even at Disney occasionally) and decide to throw teddy out the pram and sell their membership never to return to WDW. While Disney's ROFR does offer some support to the resale prices the biggest factor to how well DVC maintains it's residual cost is the incredibly high "owner satisfaction rating" resulting in the number of resales being tiny when compared to other timeshare companies.

 

[*KeepMovingForward*]

Absolutely LOVE ours and no regrets. We added on once already and are considering adding on again at the end of summer. People sell for different reasons, so I wouldn't use the resale market as an indicator of satisfaction or dissatisfaction with DVC. People have financial issues, divorce, death, change in health, children leaving the nest...there are all sorts of reasons why a person may sell that may have nothing to do with whether they liked or disliked DVC at all.

 

[MinMouse]

No regrets here! Well, only that we purchased in 1991 when we were honeymooning in WDW! We purchased our first points in 2002. We had hoped to "try it out" first but knowing how much we loved WDW we couldn't imagine we wouldn't love it! We went conservative and purchased 150 points resale. We've since added on twice more and just love it!

 

[RuthnPaul]

We owned a lot of points but sold them all when we decided to build a house a few years ago and needed the cash! Luckily, we recouped our investment -- definitely not the norm when selling timeshares!

In some ways, we wish we would have kept enough points to cover an annual trip to WDW. On the other hand, we have rented points and that is certainly a cost-effective way to stay at DVC resorts, without the hassle of paying maintenance fees on a contract. Renting is also a good way to "sample" one or more of the DVC properties before purchasing.

We haven't been to WDW for 2 1/2 years and we're having serious withdrawals!! Hope to get there this fall...

 

[makthompson]

I have been to several presentations and this by far is the best one. we've been members since 2004. never had a lick of trouble getting a room. also, one time we added an extra night while we were there and no problem. didnt have to change rooms or anything. No matter what country you travel to it always will have disney standards (the best). with other time shares you never know what you will get.

 

[jarestel]

I'm fairly certain there are folks who got carried away by visiting WDW and reading boards like this who made impulse purchases that didn't work out. The "positive" side of these situations is that most folks are able to sell their interests for close to or even more than their original purchase price. So if one were going to make an impulse purchase on a timeshare, DVC would be a bit more forgiving than many, financially speaking.

 

[Slakk]

We had 300 points - we sold 100 and honestly had thought we would purchase at CRV but now we are not. We actually purchased a EOY Marriott and are more excited about our 2009 Aruba trip then the June BWV.

I am hoping the magic returns - it may be just because we had such a crappy trip in January (not Disney's fault - just never bringing family AGAIN!)

 

[PinkTink63]

I owe 3 different timeshares companies. I seem to understand two of them fairly well, and one not so well. DVC seems to work well for us. I do wish the Dues weren't due in Jan, but... I sure do enjoy going to disney and not having a room bill.

I have my dues taken out monthly, because I didn't want that bill after Christmas! I don't really even notice it that way! Is it possibly to change the way your dues are billed?

 

[crisi]

I'm fairly certain there are folks who got carried away by visiting WDW and reading boards like this who made impulse purchases that didn't work out. The "positive" side of these situations is that most folks are able to sell their interests for close to or even more than their original purchase price. So if one were going to make an impulse purchase on a timeshare, DVC would be a bit more forgiving than many, financially speaking.

But not if they have to do it immediately.

Every time a new resort is opened, it only takes a few months before that resort starts showing up on the resellers sites. In order to sell a resort through the resale market, your going to have to price it below Disney's cost - and pay the commission.

Hold onto it a few years, through a price increase from Disney - get a few trips out of it - and you'll break even. Particularly if your trips involved developer points.

Buy it, get home, and sell it within months unable to use it, and you'll have paid a few grand for ownership in a timeshare you never used.

 

[JudyS]

Shortly after I bought my DVC contract, I learned I could use my other timeshares (I own lots) to trade into the DVC during the times when I usually travel (i.e., way off-season.) However, I am still happy that I bought DVC. It is very flexible (much much much more so than trading in), and the discount on Annual Passes is a great perk. Plus, my contract has gone up considerably in value in the three or so years since I bought it. If I have points left over because I was able to trade into the DVC with another timeshare, I can easily rent or transfer them. I wouldn't mind buying some more points, actually, especially at a hard-to-book resort such as BCV.

T......
Therefore the number of resales is, in reality, pretty small. The majority of those are being sold due to deaths, divorces, loss of employment, major change in financial circumstances. You get some that decide as their kids grow up they no longer wish to go the Disney (although 1) there is plenty to do outside of WDW and 2) when grandkids appear they often wish they held onto their memberships) There are a small number of people who have a bad experience ( yes it happens even at Disney occasionally) ....

Yes, I agree with this. There are lots of reasons why people sell real estate (and timeshares are real estate, although DVC is sort of a hybrid between ownership and a long-term lease.) Even lovely houses in great neighborhoods get sold as people's needs or financial circumstances change.

....
Every time a new resort is opened, it only takes a few months before that resort starts showing up on the resellers sites. In order to sell a resort through the resale market, your going to have to price it below Disney's cost - and pay the commission.

Hold onto it a few years, through a price increase from Disney - get a few trips out of it - and you'll break even. Particularly if your trips involved developer points.

Buy it, get home, and sell it within months unable to use it, and you'll have paid a few grand for ownership in a timeshare you never used.

This is generally true, but I'd like to point out that paying a commission isn't a requirement. You could advertise on a site such as Redweek, and pay only their listing fee of $50 or so. Since DVC prices are pretty consistent and need to pass ROFR, your contract might sell for a price similar to what a reseller would get for you, and you wouldn't have to pay a commission.

In fact, I bought my DVC resale directly from an existing owner, no real estate broker involved. However, it involves some work to sell this way. For example, the guy I bought from hadn't considered that someone would need to draw up a sales contract; I ended up writing the contract myself. (I based it on a model timeshare sales contract I got from somewhere; I don't remember where.)

 

[FLYNZ4]

Shortly after I bought my DVC contract, I learned I could use my other timeshares (I own lots) to trade into the DVC during the times when I usually travel (i.e., way off-season.) However, I am still happy that I bought DVC. It is very flexible (much much much more so than trading in), and the discount on Annual Passes is a great perk. Plus, my contract has gone up considerably in value in the three or so years since I bought it. If I have points left over because I was able to trade into the DVC with another timeshare, I can easily rent or transfer them. I wouldn't mind buying some more points, actually, especially at a hard-to-book resort such as BCV.

Judy,

Like you... I also trade in much less expensive condos to stay at DVC... but I love owning DVC. It offers a lot of flexibility as you say.

I book my DVC reservations early... securing my dates, andil my FF airline tickets. I also start an II exchange for the dates... and if I get a good exchange, then I will cancel the duplicate days off of my DVC points reservations.

I will be doing my 3rd big trip using this technique. I think it offers all of the predictability of owning DVC... with many of the cost advantages of trading.

/Jim

 

[JudyS]

Judy,

Like you... I also trade in much less expensive condos to stay at DVC... but I love owning DVC. It offers a lot of flexibility as you say.

I book my DVC reservations early... securing my dates, andil my FF airline tickets. I also start an II exchange for the dates... and if I get a good exchange, then I will cancel the duplicate days off of my DVC points reservations.

I will be doing my 3rd big trip using this technique. I think it offers all of the predictability of owning DVC... with many of the cost advantages of trading.

/Jim

Absolutely! That's a great strategy, and it shows how owning DVC can be worthwhile even if you ca trade into the DVC using II.

 

[likestravel]

I am also thinking about buying in but it does seem very expensive. $16,600 plus at least $1000 each year for maint. That comes to for 20 years about $37,000 for about 20 one week vacations. I dont see that saving much money considering all it gives you is your room? Am I wrong?

 

[*KeepMovingForward*]

I am also thinking about buying in but it does seem very expensive. $16,600 plus at least $1000 each year for maint. That comes to for 20 years about $37,000 for about 20 one week vacations. I dont see that saving much money considering all it gives you is your room? Am I wrong?

How did you arrive at 1K for maintenance fees per year on 160 points? What resort were you considering buying into that they are that high?

Not sure about your 20 year thing but I think all the contracts have more than 20 years on them...most have upwards of 30-50 years left on them. Again, what resort are you buying that only offers you a 20 year contract?

 

[crisi]

The thing about that 20 one week vacations -

DVCs minimum buy in of 160 points gets you about three weeks a year in a studio - if you are frugal with those weeks. We have 150 (the old buy in amount) and it gets us one week every other year in a two bedroom - with a little extra. Now, a week in two bedroom unit every other year for our buy in of less than $10,000 (we've owned a few years) and dues of less than $1000 a year, that's a pretty good deal.

The minimum point buy is is frankly too much for someone who wants one week a year in a studio - unless that week is Christmas. If you can find a small contract resale, that's a better deal - smaller maintenence fees plus smaller buy in.

 

[disneynutz]

I am also thinking about buying in but it does seem very expensive. $16,600 plus at least $1000 each year for maint. That comes to for 20 years about $37,000 for about 20 one week vacations. I dont see that saving much money considering all it gives you is your room? Am I wrong?

After the 20 years can you sell your interest for $17,000? If so your cost is $20,000 for 20 one week vacations. $1,000 per week is pretty good considering that cash rooms and the cost of buying into the DVC goes up every year.

 

[Mickey'sApprentice]

The thing about that 20 one week vacations -

DVCs minimum buy in of 160 points gets you about three weeks a year in a studio - if you are frugal with those weeks. We have 150 (the old buy in amount) and it gets us one week every other year in a two bedroom - with a little extra. Now, a week in two bedroom unit every other year for our buy in of less than $10,000 (we've owned a few years) and dues of less than $1000 a year, that's a pretty good deal.

The minimum point buy is is frankly too much for someone who wants one week a year in a studio - unless that week is Christmas. If you can find a small contract resale, that's a better deal - smaller maintenence fees plus smaller buy in.

Again, I having 100 pts.

We are still going to WDW more than we were before, and throwing in trips to HH, and our maintenance fees are running about $500/yr.

Only the Value resorts during free dining come anywhere close to matching the price of DVC. We figure a std. bw studio is costing us about $63/nt.

We may purchase at (CRV, BLT, KT) but that will be because we want to spend even more time at Disney.