DVC Before or After Kids

[dwelty]

DVC will always be there (IMHO). It may cost more later, but your financial situation (income) will likely also improve.

I agree with CarolMN, Your financial state will improve as you get older. You can always stay a value while your child is little. (For less than an investment into DVC). When you have more kids, and need the room, then go for it. Likely you will be making more by then anyway.

 

[waltskids]

DH and I bought into DVC in 1999 and didn't have our DS until November, 2006. For us it was a wise decision considering we both love Disney. Now we can take our DS to Disney often and make new memories! Good luck with your decision and starting a family

 

[crisi]

Having Grandma willing to babysit will be a big help, and potentially a big money saver. But don't forget to consider some of the worst-case scenarios. Is she really willing to take the child 40+ hours / week so that you both can continue to work full time? If not, can one of you afford to work part time? What other arrangements might you have to make (i.e. day care part of the week) and what will that cost? What will you do with the child when grandma wants to go out of town for a few days or when she's sick?

We had a very eager Grandma who was a lot of help with our kids for the first several years of their lives. We had them in daycare, but she was always available to watch them if they were sick, to be there if one of us was travelling, or one of us had a late meeting. Unfortunately, a little over a year ago, my younger sister required a lot of help, and my mother was needed somewhere other than with my kids. About the time I got my sitter back, my other sister was diagnosed with breast cancer - and my mom is now five hours away helping her family.

Also be careful of the offers to watch your potential children - they often dry up when you have actual kids that need to be watched. My mother in law is a wonderful person who was full of plans for her grandkids - but she is also just full of plans and most of what she wants to do doesn't get done. Depending on her for daycare would have been a mistake.

 

[Y-ASK]

I kind of like the idea of going with a small 50 point contract that hopefully can be paid for in full. You can then look for 100 point transfers on the rent/trade board. A lot of owners don't want to hassle with a reservation for someone else but would be willing to take less and transfer. Might save overall than not purchasing and renting out right. Also leaves you in control of your own reservations. And if you ever need to sell for whatever reason it will be easier to get rid of a small point contract.

Y-ASK

 

[starbox]

Approx. $250 is affordable right now with no problem. With a child, that could be a little more difficult. I'd guess if we'd have a second child, the DVC would be just about paid off. We will take a look at this soon and see what we come up with.

Thanks again for the great discussion.

Beware though, babies tend to come a lot closer than 4-5 years apart. One reason is that you just sort of get in that zone. Another reason is that it is surprisingly hard to remember birth control when you have a baby in the house. And yet another reason is that, if you all plan to breastfeed, most women are not comfortable taking strong contraceptives while nursing. You can space them further if you want to and are really good about planning - but 2-3 years (or less) seems to be what ends up happening most of the time.

We intentionally spaced our kids close together, knowing that I did not want a full-time job while they were teensy - which is one option. Another option is, of course, to work full-time and space them 4-5 years apart so that you only have to pay for daycare for one at a time. And then there are so, so many options in between.

Good luck with all of your decisions. Starting a family is such an exciting time. I'd just encourage you to really talk about what you envision as the perfect situation for the next years of your lives and go from there.

 

[fknaut]

We had purchase our OKW points back in June 92. Then bought our First Home in October 92. Had kids in 96 and 98. Been to Disney more than 2 dozen times since including the Disney Wonder Cruise. Have added 130 points from Saratoga Springs and sice moved to GA and will be back in FL in June and taking another cruise next spring. If you can, do it and don't look back, it is worth it many times over. If we paid cash for all the hotel bills, we be bankrupt many times over.

 

[wonka27]

For those of you helping me out...I've spent a bit of time crunching numbers and have come to a decision.

Based on current finances and projected cost of having a baby...if God allows us to be so fortunate in the next year or so, DVC is not the best option for right now.

It was a hard pill to swallow, so I tried to come up with a lists of positives...which I hope others in our sitation can use in their thought process (esp. if they feel they can't swing it):

1. My wife and I are both professionals (I'm a teacher, she is an admissions manager for a rehab unit at a local hospital). We are not rich, but for a 31 and 29 year old, we have worked hard and made a decent life for ourselves. I personally know that based on our salary schedules at work, my income over the next five years will increase by over 50%. (That's how things work with salary schedules around here). So plus number one is the fact that I feel we shouldn't push it, when I know there is better earning potential around the corner.

2. Having a child would probably put a damper on trips for a couple years anyway, so why buy into something now, that we may not use for a few years.

3. Having a child will stretch our budget thin. We won't go broke, but there may be a year or two that our savings at the end of the month would not even buy us a nice diner out. That is factoring in $700/mo. for full time daycare...if needed. Why kill ourselves to pay for something that isn't "necessary"

4. If we don't need the daycare in #3...I will save at least half of that money monthly for DVC. Probably in 2-4 years we'd be able to buy (for cash) an adequate amount of points to get us started.

All in all, reflecting was a good thing. It really helped me think about the good things in life...instead of just DVC. My wife and I have a house (be it small - 1100 sq ft), a brand new kitchen in it, probably a brand new bathroom this summer, a mortgage that will probably be paid off about 15 years early. DVC will be there for us when the time is right. Having a "magic" place to live with a special person and hopefully a kid or two one day is all one could ask for. DVC would be a bonus...which I'm sure one day we will achieve.

 

[larrytau]

Sounds like some very solid logic, Wonka. Looks like you all have your priorities right.

Come back and rethink DVC in 5-10 years or so. We will be waiting for you to join us!

 

[starbox]

All in all, reflecting was a good thing. It really helped me think about the good things in life...instead of just DVC. My wife and I have a house (be it small - 1100 sq ft), a brand new kitchen in it, probably a brand new bathroom this summer, a mortgage that will probably be paid off about 15 years early. DVC will be there for us when the time is right. Having a "magic" place to live with a special person and hopefully a kid or two one day is all one could ask for. DVC would be a bonus...which I'm sure one day we will achieve.

You know, we are in a similar position in terms of DH and I's jobs. As much as we'd have loved to buy DVC on our Disney honeymoon, we waited till our second child started school and we knew that the income/childcare/work equation was stable.

I have no regrets. We did take shorter, price-lined vacations and stayed in the DTD resort area when each of the kids turned 3, and we do have great memories of those budget trips.

As a bonus - both of the kids were actually old enough to understand what it meant when we bought DVC and are extremely grateful (as in - they literally say "thank you") daily when we are on vacation. I think if we had always had it, they may not understand what a blessing it is.

BTW - I want to teach in your county where salaries increase 50% in 5 years!!!!! That's really awesome.

 

[crisi]

4. If we don't need the daycare in #3...I will save at least half of that money monthly for DVC. Probably in 2-4 years we'd be able to buy (for cash) an adequate amount of points to get us started.

If you can afford to finance, you can afford to save and pay cash - you just have to delay gratification a little. Paying cash will be easier on the budget either way. Between now and babytime, start saving. DVC can be the end goal, but money in the bank spends lots of ways if you need it to.

 

[wonka27]

BTW - I want to teach in your county where salaries increase 50% in 5 years!!!!! That's really awesome.

Yeah...it is nice...but getting there is tough...and afterward the raises are minimal at best. Doesn't matter though...I enjoy what I do, and the money is enough for us to live without struggling.

 

[BroganMc]

It was a hard pill to swallow, so I tried to come up with a lists of positives...which I hope others in our sitation can use in their thought process (esp. if they feel they can't swing it):

At 29 & 31 with a new house and new marriage, the two of you are just beginning to build your lives. Based on that alone, I wouldn't recommend buying anything that required financing except perhaps the house (that investment will grow in value) and a car (necessary to keep your work investment). Timeshares are meant as disposable income. Disney tends to keep its value only because Disney actively enforces ROFR to inflate resale prices. Every other timeshare company (including the better ones like Marriott) lose 50% of their value as soon as the ink dries on the contracts.

If you have $10k sitting around not designated for anything special, (and can swing the yearly fees) then it makes sense to invest in a vacation club.

This discussion has occurred many times on the DIS. Some folks are adamant that if you have to finance to buy, you can't afford it.

The only disagreement in this particular thread is the cost of childrearing. The truth is there are no hard rules about expenses. It depends on parenting style, quality of support system, and those wacky unknowns God likes to throw at you.

 

[Juliet25]

Hey, OP, good luck in the next year as you expand your family!

DVC seems to be building resorts right and left. Hopefully by the time you decide to buy, they'll have built the DVC resort of your dreams.