Does DVC save you much money?

[crazyforgoofy]

We're avid Disney visitors but haven't yet considered DVC. Could anyone share how DVC works and what it actually costs? Money is a big issue as my DH is now on disability. He has grandchildren we bring to WDW, I have nieces and nephews and someday I'll have grandchildren and in addition we both love the whole Disney experience so I'm fairly sure we're good candidates for DVC. Curious how it works and how much it costs.

 

[susy]

Hi! Go on over to the DVC voard and they have links to figure out what it will cost, ect. I think the cheapest is a little over $11k. You own it for 40 years and there are yearly maintenance fees (according to how many points you have).

 

[scottie]

I will simply say we love our DVC ownership and have never looked back! We also are avid disney fans and Walt Disney world travelers. Defiantly check out the DVC board to learn everything possible.... and even things you never thought you would need to know We have found DVC to be a great way to budget out our vacations for 40+ years…We give DVC two thumbs up!

 

[Belle5]

If you really want to know both sides of buying DVC repost your question asking about the negatives only. I have learned the most over the years from those kinds of threads.

 

[chris1gill]

The negative for us is that we didn't buy sooner I have to ask what kind of accomodations you typically stay in? If you stay off-site or in the value resorts & are happy there, DVC will not offer a financial gain... If you typically spend 80-100.00 a night, staying in the DVC studios will either save you money or break even...

Our points roughly cost us 5.50 each (that includes maintenance fees & original buy in price divided by the 43 years of use), so for instance a studio usually goes 11-15 points during the week & roughly twice that on a weekend...

We don't actually stay in studio's, as we always paid cash for staying in the 1 bedrooms, so now we use points to stay in the 1 bedrooms... The 1 bedrooms generally run 16-24 points per night (multiply that by 5.25 per point it's 88.00-132.00 per week night), for us having always paid cash for the 1 bedrooms, it's a huge bargain... The weekend point requirements are generally twice that of the weeknight requirements...

All in all, when we go in low season, 12 nights costs us 242 points in a BWV standard view, so it comes out to 1331.00 for 12 nights of accomodation, or $110.00 per night for a 1 bedroom... we cook most of our own food in the villa, and generally don't spend more than $300 on eating out at the Disney restaurants for all 12 nights...

For us it does equal a very large savings. You have to look at which seasons you go, what your flexibility is & what your previous vacation needs have been. For us DVC has definitely been a win-win situation.

 

[ncligs]

As the above posters said, go over to the DVc board and ask any question you would like . We have been members for 3 years and our only regret is we didn't buy sooner . Now 4 members of my family are DVC members. If you like to travel to WDW and stay on property, DVC is well worth the investment.....especially if you go at least every other year. We go at least 1-2 times a yr

 

[DiznEeyore]

Holy smokes, I was just adding up the food costs for our 10/02 trip (not at a DVC resort -- long story) and cannot believe how much food is going to cost (and most meals will be counter service)! Even having a DVC studio with the mini-fridge, microwave & toaster saves a ton of money. Of course, some people don't like to cook on vacation, but we don't mind at all.

 

[GAIL HAYDEN]

DiznEeyore
I am with you on the food issue!!! We usually make a trip to either WinDixie or Super WalMart, buy for the week and save a TON of money. The kitchens at OKW are wonderful and you simply don't mind cooking ( or at least I don't) while there.
We usually hit one or two really nice restaurants for "special dinners" during the visit, but, we still save a mint. We calculated the savings on breakfast one year, we figured a good estimate would be about 7.00 per person for that meal. We then calculated that 7.00 x 2 people x 7 mornings and we arrived at 98.00 saved for the week. You can buy a LOT of breakfast stuff for 98.00. LOL. We then calculated dinners @ 30.00 per person per day x 7 and that was a total shock!!!!!! 420.00. On breakfast and lunch the total was well over 500.00 per week for two people. I gasp at the cost for a family with 4 or 5 people.
I will admit that we do each lunch at the parks if we are in one.
Maybe the cost savings is why I don't mind cooking. I get to buy more stuff this way. LOL!!!!
Anyway, back to the original topic. There are negatives to everything, however, IMHO, the positives outweigh any negatives I can think of. I have been a member for 10 year and have yet to have an earth shattering negative experience there.
We love OKW and experience much happiness there. It is truly like a second home.

 

[Lisa P.]

The biggest question to ask is where you expect to stay (without DVC) and when. Then you can compare to see whether it's worth it for you. If you would normally stay ONSITE, in a deluxe hotel or home-away-from-home resort, and if you could stretch your points by limiting Friday and Saturday nights and if you don't normally go during Christmas/New Years or the two weeks straddling Easter, THEN, you may find it economical in the long run to join DVC.

But if you sometimes enjoy offsite stays or the All Stars or you like to go for long weekends or you prefer major holiday weeks, when the grandkids are out of school, then you may not see any substantial savings and could even spend more on DVC than you're paying now. Also, much depends upon the size of your travel group, and what alternatives might suit you as well.

Could anyone share how DVC works and what it actually costs?

150 points would cost about $11K, as posted above. But that will not get you much if you need anything larger than a studio for 4. Maintenance fees (or member dues) run $3-$4 per point per year, depending on your home resort. So the annual maint fee on 150 points (a week in a studio, during school breaks) costs about $450-$600 per year. For a 2BR for 8, double all these numbers.

Money is a big issue as my DH is now on disability.

Just run the numbers. Don't try to make it work out or not, either way.

Curious how it works and how much it costs.

Do read the FAQ here at DIS. You use your annual allotment of points to pay for the reservations. We sold our DVC because it turned out to be too expensive for what we got. With a family of five, who liked to take longer vacations, including extra weekends, it was just not economical for us at all. But we do enjoy offsite luxury timeshare resorts and have tagged on a day or two onsite to the end of our trips sometimes, for the themed pools.

IMHO, the views on the DVC forum are almost exclusively pro-DVC, naturally, since that forum is frequented by happy owners. Once people determine that DVC is not for them, they usually leave the forum. So it does not offer a balanced view for those seeking info. That is not its chief purpose so this is understandable. Just make sure DVC is really what would suit YOUR situation. Hope this helped.

 

[Belle5]

LisaP.
An excellent and honest response!
Belle5

 

[doubletrouble_vb]

Unfortunately there is a lot to figuring out if DVC is worth it.

If you go to Disney regularly with a large number of people then any timeshare in general is worth purchasing. Other timeshares, especially reales are going to cost significantly less than DVC. If you normally stay off property then I'd look into other timeshares ...resale!!! Go to www.tug2.net for details (timeshare users group).

If you normally stay on property then DVC comes into play. Compare your outlay in Disney hotels and restaurant food versus DVC. DVC accomodations are essentially the same as Disney hotels...4 per bedroom. Remember there are maintenance fees so DVC isn't as cheap as it looks at first glance. People have cited 5, 7 or 10 years to break even. The cheaper the hotel you use on property the longer it will take to break even.

From what I've seen it seems like DVC works best for people who stay in more expensive units.

FYI I am both a Westgate and a DVC owner. My feeling is that from a money perspective DVC is far less cost effective than Westgate. The maintenance is higher and the units don't sleep as many. You could get a 2 bedroom loft unit (sleeping 10) for $8,000. DVC you'd probably need to get a 2 bedroom and a studio to do that so you are talking 300 points ($22,000 new). However DVC does offer advantages when I'm traveling solo and am oriented on Disney.

 

[mickey7861]

My view on DVC is.....

We own 200 points.....monthly dues approx. $68.
We always spend vacations at WDW every year. We always stay on-site, we HATE the All Stars so we stay at moderate and deluxe resorts each trip.
Now that we own DVC We stay in a 1 bedroom or studio at a deluxe resort every trip. No price haggling, no hoping for a code. Banking and borrowing points also increases our options. To stretch our points further we spend Friday and Saturday nights at Universal, or a WDW resort on cash ressies. We always resort hopped anyway so thats not a big deal to us. This year we're spending 10 nights at BCV, 5 nights at BWV, 2 nights at PO-R ($94 each) and 2 nights at Universal's RP ($99 each).

DVC certainly isn't for everyone but this is how it works for us.

 

[kel3420]

My family goes to Disney every other year and do a beach/tropical vacation on the off years. Two years ago we bought 150 points. Our home resort is Vero Beach, so now we get the best of both worlds. We are allowed to bank and borrow, so technically, we can get 450 point to use on a trip.

We are a family of five, and stay in a one bedroom. Last Thanksgiving we did a week at Vero and loved it. This Thanksgiving we are doing four days at the new Beach Club Villas, and then four days at Vero. We are getting a two bedroom AND an Inn Room this time, since we are bringing guests.

The way we look at it is that for approx $11,000 we have 36 years of Disney vacations (our kids LOVE this fact). We figure we will pay off the balance on this in 3 years, so every year thereafter the rooms will be free. Now, of COURSE, technically this isn't correct, but it certainly sounds nice, lol. We also figure that if we go to Disney, room and food alone cost a fortune, even at the All Stars. Figure we spend approx $3k per trip. over the long haul, DVC sounded very attractive. Now that we have seriously upgraded to really nice resorts with DVC, it makes it that much nicer.

You really need to weigh it. Everyone we tell about this thinks it is a great idea, and want to join, but we remind them that if you don't go to Disney at least every other year, DVC is not for you. Another timeshare perhaps, but not DVC. Since no one we knows goes to Disney as often as we do, no one we know has joined, lol.

We enjoy the rooms and the resorts we are now able to stay at. While the All Stars is nice, and we have stayed there, once you stay at a moderate or even deluxe it is hard to go back. We also save a ton of money now that we can eat in the room. At Disney World, we usually do breakfast, pop and snacks in the room. At Vero, we do the majority of our meals in the room, eating out one or twice during the week. Everyone, kids included, get to pick a dinner meal and plan for it. Obviously the younger ones need help, but they love doing this and it makes it fun for everyone. We even did Thanksgiving dinner in our room last year, and it was great.

I always recommend to people thinking of buying into DVC, to rent point for a trip first and see how they like it. There are always points to rent for usually way less than you would pay cash for to stay in one of the DVC resorts. I have talked with several people who rented points for a trip, checked into their rooms, toured the resort, and went immediately to the DVC desk in the lobby to inquire about buying

BUT, like I said, it is not for many people. I think the whole issue of trading for other resorts in another timeshare isn't worth my time. Maybe someday I will look into this, when we consider going to Hawaii. But for the most part, I consider DVC to be the five, soon six, Disney Resorts. There is way more to it, where you can trade your points for a stay elsewhere, but we haven't used it.

I hope this made sense, I know when I started reading about DVC on these boards, I was so completely confused. I kind of understood it, but couldn't explain it to anyone. On a plane trip down two years ago, I tried telling my husband about it, and just couldn't explain it. He saw the ad on the television at the resort, and then talked to a DVC representative at AK, who talked us into a tour. We took it and hubbie was very intrigued. He is an engineer and very analytical, so we went out to dinner, and he did the numbers. He is a very hard sell on anything, especially timeshares, he usually won't even talk to me about these anymore. I just get the look when I bring them up, seeing that I dragged him to one hard sell presentation years ago, lol. But with DVC, after he did the numbers, we went back to talk with them again, and walked away owners.

For us it is a great deal.

 

[Snow Shoe]

Yes it saves you! Simply put, if you visit Disney much at all, the cost of your room alone will in the long run be offset by your DVC purchase as room rates continue to rise. This past summer we visited Disneyland Paris and stayed at the Disneyland Hotel in the park on DVC points and our LOS pass was included in it. We've planned a trip for London in summer of 04' and are staying at the Dorchester there. We viewed DVC as more than just Disney, even though we use DVC primarly for WDW. It provides the best bang for your buck.

 

[crazyforgoofy]

Thanks Suzy, Scottie, Belle5, chris1gill, ncligs, DiznEeyore, GAIL HAYDEN, Lisa P., doubletrouble_vb, mickey7861, kel3420 and Snow Shoe. Don't know yet what we'll do but now have the info to make an informed decision. I'm continually amazed at the williness of the folks on The Dis to lend a helping hand.

May you all be showered with pixie dust!

 

[CarolA]

I love my DVC Membership, but I can't say it saves me money!!

I find that (A) I go more often now (more tickets, more airfare, etc..) (B) I tend to buy more stuff and eat at nicer resturants since my "room is paid for".

I am still glad I have the membership and I have done two add ons. The quality of Disney is very good. I strongly recommend you look for a resale if money is a concern. They are usually cheaper than Disney.

 

[jmminarik]

Originally posted by crazyforgoofy
Money is a big issue as my DH is now on disability.

For 10-11% in interest, you can finance through Disney, and you can spread the yearly dues out into monthly installments with no interest. While the Interest on the 'mortgage' is high by my standards, it or another 'monthly' plan would allow you to 'budget' your lodging costs if the forced discipline helps.

we both love the whole Disney experience so I'm fairly sure we're good candidates for DVC. Curious how it works and how much it costs.

As people have mentioned, there are a few things which contribute to DVC making sense for you....if you go to WDW alot (at least once a year), if you need to stay on-site, if you like to stay in nicer rooms, if you would _occasionally_ like to spend your points on something other than WDW, but not always...if having a full kitchen and cooking instead of eating out all the time, if you want the warm fuzzy of being 'Welcomed Home' when you get 'Home', if you want the flexibility of room sizes based on your party.

There are intangible benefits to DVC ownership that are hard to put financials on...these are all personal and depend on whom you're talking with, but for us its the flexibility to 'treat' our friends and family to trips which we would never be able to do at full price.

One thing which people didn't mention so far is that you don't have to buy from Disney...these are technically timeshares and are real estate commodities which can be purchased through resale. Generally, you can pay significantly less on a resale, though you are responsible for closing costs (Disney handles that if you buy through them). You have to be aware of the 'point balances' on a resale, but it is the only way to get an ownership at the 'sold out' resorts, such as Board Walk Villas (BWV), Old Key West (OKW), Villas at Wilderness Lodge (VWL).

Oops....gotta run, but before I do... OKW is generally the 'least' expensive to buy into and maintain, and the rule of thumb among DVCers is to buy your points at the resort you wish to stay at most of the time....

Hope this helps and see you on the DBC boards.

-Joe

 

[jfis1020]

May I add one important point. Say you do decide to buy in. If you decide that you no longer want your DVC, Disney has the first rights to purchase back your investment, if you have someone else who wants to purchase it from you. It is my understanding (and I may be wrong, so double check me!) that they will pay you the CURRENT market price.

We bought in two years ago and the rates have gone up at least three times since then. We have used DVC 5 times in those two years and don't regret it.

You don't have to go to Disney. I have talked to people who have gone on Alaskan Cruises, visited Europe, Hawaii, etc. They enjoyed the resorts as they were top of the line.

We've talked about going to Hawaii to watch the Hoosiers in the Maui Classic in Nov. It would be nice and my room would be "paid for"!

 

[jmminarik]

Originally posted by jfis1020
It is my understanding (and I may be wrong, so double check me!) that they will pay you the CURRENT market price.

Uhm, no.
Unless by current market rate you mean the number they decide is the minimum we should be selling.

Disney's right of first refusal is somewhat low compared to the current Disney rate. Something like $60+/- $2 last I bothered to look. That doesn't mean they won't buy your points if you find someone to buy at $75.00/pt, but as I understand it, anything below this $60 +/-$2 range they'll almost instantly flex their RoFR muscles.

One question I do have though...if Disney opts to buy your points, who pays the closing costs and broker's commissions?

-Joe

 

[jfis1020]

Thanks for the info. DH and I discussed this and couldn't remember exactly!