DVC for dummies, please?

[mevelandry]

I live in Quebec (Canada) which means I am not allowed to become a DCV member "online", the only way to do it is on-site (WDW) I have been told.

Therefore, I don't have much information about DVC. I don't really understand much except for the fact that you "buy" a certain amount of points each year that you can spend to book vacations in WDW.

I was wondering how much it cost to become a DVC member (minimum cost). Do you really "save" a lot of money?

Last time I checked (I tried to understand what I read on websites) it wasn't very clear. The total was making me paying at least 3000$/year for just 1 week of vacation which didn't really look "cheaper" to me. But maybe I'm all wrong.

DH and I have no kids. We like to go to WDW at least twice a year. We never travel in groups. Could DVC be for us or not at all?

How much do you pay each year? Do you have to pay once a year or can you pay each month? (If so, how much does it cost?)

What are the perks?

Can you get more points if you add nights OOP?

Thanks in advance!

 

[satman1962]

DVC can be an excellent choice for you. First thing is to evaluate how many points you'd need to satisfy your vacation habits. It's important to note what size accommodations you like, studio, one bedroom, as well as what times of the year you travel, as these choices will vary the amount of points required for each night of your stay. Also make note of the choices of DVC resorts available to choose from. different resorts also "cost" a different amount of points for each nights stay. You can check the DVC points charts link at the top of this forum for an idea. Once you have an idea of the amount of points you'd need on an annual basis you can look for a resale that may fit those needs. A resale can be purchased from Quebec. There is also a link for resales at the top of this forum as well

Once the initial purchase is made you will have to pay an annual dues cost based on the number of points you purchased. ( an average of about 5-6$ a point )

There is some great info on the Resale site along with a frequently asked questions page


Based on this info whether it ends up saving you a lot of money is harder to answer.

 

[mevelandry]

Thank you!

 

[chalee94]

I was wondering how much it cost to become a DVC member (minimum cost). Do you really "save" a lot of money?

how many pts do you need based on the points chart? you can buy into DVC for around $4,000 or $5,000 for a studio for 4-5 weeknights per year or you can spend over $100,000 for a grand villa with 3BRs and a pool table overlooking an african savanna.

whether you save money depends on how much you are spending in the first place. if you are determined to go to wdw every year and pay deluxe prices for hotel rooms, DVC is worth looking into.

The total was making me paying at least 3000$/year for just 1 week of vacation which didn't really look "cheaper" to me. But maybe I'm all wrong. How much do you pay each year?

yeah, you could spend that but it depends on what you are comparing it to. i spent less than $4000 upfront and continue to pay about $18 per month...but i am extremely limited.

Do you have to pay once a year or can you pay each month? (If so, how much does it cost?)

you pay once up front for for the deed/long-term lease contract (unless you decide to pay more by financing it), and then you pay each year for the annual dues for upkeep/maintenance of the resort. (you can pay annual dues monthly with a U.S. checking account.)

What are the perks?

you are pre-paying for onsite accommodations. other perks (dining and ticket discounts) can come and go quite a bit...don't count on them.

Can you get more points if you add nights OOP?

only 24 pts per year and only at the 7 month window, which can be limiting.

here is more info with more links if you are interested:

http://www.disboards.com/showthread.php?t=3041038

 

[chalee94]

it's probably also a good idea to check out the DVC Resource Thread for historical annual dues at each resort plus other information:

http://www.disboards.com/showthread.php?t=2823943

 

[disneynutz]

My understanding is that due to Disney being a real estate developer, they aren't licensed to sell in your country or your laws forbid it.

The laws might be different for buying from a DVC broker and you could purchase from home.

Bill

 

[weswife]

You can get alot of info on here! I have been studying purchasing a DVC for a bit now. Wonderful resources.

I sent you a PM. I am in ROFR currently...

 

[mevelandry]

Wow... Thank you so much for your answers everybody!

Did some of you buy it from the TimeShare Store? (Sponsored)

It is a big investment, I want to make sure that if I ever invest in it, I would buy from a safe place.

 

[weswife]

I am working with the Timeshare store right now


I have done alot of researching. Its exciting and scarey! we are looking to own at BWV!

 

[ToddyLu]

Dh and I purchased 210 points at AKV direct from Disney in 2009. With the incentives they were offering at the time our points were $93 I think. We did the "preferred financing" at 10.75%. Our current monthly mortgage for 10 years is around $237 with monthly MFs of around $90 or so..it increases and AKV is one of the more expensive with the MF rates. So we have 5 more years...I wish I had known more about financing resale but the market was bad and Disney was easy.

So would I buy direct now knowing what I know after being on here all this time...of course not. But I do not regret the purchase at all and we have used and squeezed awesome week long trips out of our contract for DH and I and our parents. No children and we are in our late 40s.

Every family is different our goals and the way we spend our vacation dollars is different. For DH and I we spend our vacation money at WDW. He doesn't like to travel so it works for both of us. We love the resort and in years to come I can see having resort only trips and not going to a park. We will see.

If you do decide to purchase resale, pick smaller contracts because they are easier to sale if you need to. Had I known this we would have gotten 2-100 contracts or something. We did 210 because it would give us that extra night at some point and the difference between 200 and 210 in cost was minimal.

We have truly enjoyed our DVC so to us it is money well spent regardless of what other folks think...we are happy and we have a lovely vacation home.

 

[chalee94]

Did some of you buy it from the TimeShare Store? (Sponsored)

i did. they did a great job and made it an easy process.

 

[mevelandry]

Alright. I'll be sure to read everything about it but it's definitely a possibility now.

 

[crisi]

You MIGHT save money - honestly, I think for most of us we spend more, but are happier about it. You won't save money if you are happy with value resorts or if you are happy offsite. You won't save money if DVC encourages you to take vacations you would have otherwise skipped. Or if having points means you treat your family. You won't save money splurging on a one or two bedroom unit because "hey, kitchen and tub." You won't save money if you ignore the dues and principal already spent when traveling and spend what you would have spent on the room on La Nouba tickets and Fireworks cruises.

You can also add nights for cash and members sometimes can get a discounted room rate on DVC rooms available for cash.

 

[DVCMomBLT]

"Save Money" and "Spend Less" are two different things. I believe owning DVC you will save money, but you will spend more of it.

 

[Lynne M]

Do you really "save" a lot of money?

Only compared to the cost of a comparable room - in other words, if you normally stay in deluxes or DVC villas on cash reservations, you will likely save money if you book those rooms with your DVC membership.

Last time I checked (I tried to understand what I read on websites) it wasn't very clear. The total was making me paying at least 3000$/year for just 1 week of vacation which didn't really look "cheaper" to me. But maybe I'm all wrong.

If you're comparing it to values or moderates, then no, it won't be cheaper. Also, keep in mind that DVC only covers your lodging. You still need to pay for transportation, meals, tickets.

DVC isn't a discount program. It's a timeshare, meaning that you're buying the right to stay in DVC resorts. Nothing else. The use of that timeshare for your lodging may or may not save you money, depending on how you vacation now.

What are the perks?

Currently, there's a discount on annual passes, and some other smallish discounts. You can buy a TiW card as a DVC member. These and any other perks aren't part of your membership, they're offered by other divisions of Disney and other companies, and come and go often. Don't even bother figuring perks as part of your purchase decision, your DVC contract doesn't include or guarantee any.

My best advice to you is read, read, read. And then read some more. There's no rush to purchase, DVC isn't going anywhere, and you can have the same vacations without being a member, either by renting from a member or paying cash. Rush decisions can result in the wrong home resort choice, the wrong number of points, or spending WAY more than you need to.

 

[judydvc]

Wow... Thank you so much for your answers everybody! Did some of you buy it from the TimeShare Store? (Sponsored) It is a big investment, I want to make sure that if I ever invest in it, I would buy from a safe place.

I didn't buy from the Timeshare. Store but I sold a contract through them and they were so helpful. Everything was easy and they walked me through it. My biggest problem was the wait for Disney ( ROFR, etc.) but everything went smoothly.

 

[finchy3]

Wow... Thank you so much for your answers everybody! Did some of you buy it from the TimeShare Store? (Sponsored) It is a big investment, I want to make sure that if I ever invest in it, I would buy from a safe place.

We used Timeshare Store and they were very good, have kept us up to date throughout the process.