Educating the uninitiated

[bumbershoot]

I told her that we loved it, but had purchased all but 75 of our points via the resale market.

In that case it was appropriate because she asked and that’s how you bought.

It wouldn’t go the same with me, since I bought direct.

Has anybody else ever had the thought to catch a stranger who appears interested in DVC and ask if they've heard about the resale market?

Absolutely not.

"Do you know you can split up your contracts (i.e. three 75-point contracts instead of one 225-point contract), which would better protect your investment?"

How would that be a fact for me? I have one child. What does three small contracts do for me?

Sounds like that situation is for a family with three and they are planning on passing it along. That’s situational, not fact. And if that three kid family becomes more kids, there goes that. If that three kid family ends up with one or two who do not want Dvc, there goes the ease.

Timeshare facts aren’t always facts.

I usually scroll on by because it’s none of my business, but direct 10-20 years ago and today are not nearly the same thing.

And 10 to 20 years from now it will be not the same thing again. I didn’t think for a second that prices would be so high today, when we bought ten years ago.

The resale process is long, stressful, and not very glamorous. People will pay to avoid that misery.

Agreed.

 

[GGGT]

To me, it's been uncanny how many people that are considering DVC don't know the resale market even exists. Many of them are on the verge of buying..

Over the past several years I've been asked "how do you like DVC" when someone sees my MB DVC Slider or a DVC shirt. When the conversation progresses, at least 90% of these folks don't know that there is a Resale Market.

 

[Moneypenny]

I think a lot of people prefer the convenience, sense of security, and ease of buying direct. They also like the Disney experience. It probably feels pretty good to buy dvc on a ship. The resale process is long, stressful, and not very glamorous. People will pay to avoid that misery. For others, the stress of venturing out on your own into the “unknown” is worth the money saved. (Lol, a bit dramatic, I know.) I would venture that those people are the minority in purchasing dvc as well as in life. Not sure, just a guess. It does not surprise me that the OP has an academic background because I suspect that dvc resale buyers are analytical people. If you research dvc at all, the resale market will pop up. I think most people out there want to remain in the dark on resale. I have spoken to two other direct dvc owners we know about it and they shut the conversation down pretty quickly. I do not think it is a bad thing to talk about it, but it seems like most people just prefer buying direct and that in most cases not knowing about resale is a choice they have made whether they are aware of having made that choice or not.

As someone who just today purchased her very own 80 point direct contract after strongly considering resale instead, I have to say the direct purchase process has been very easy, and (dare I say this about something where I've just spent a lot of money on something with questionable value) pleasant! My husband and I have researched this a ton, done a lot spreadsheets and projections (we are both financial people by trade) and analyzed it to death. We had a lot of difficulty deciding over direct or resale or hybrid (will likely end up doing hybrid, but plan to use our direct only points for a few years before making any changes) because there are a lot of factors that are emotional and not numbers based and we struggled with how to account for those in our spreadsheets. We decided it's like buying a car - we know it's likely more cost effective to buy a used car, but there is a psychological sense of security we personally get from paying more to get a new car, so that's one area in our life where we decide to "splurge" and do the more expensive thing. If we decide we need/want more points later, we will feel comfortable going the resale route.

I would never have known about the option for resale were it not for these boards and the advice and information here is invaluable! I do wish that every DVC buyer knew about this resource so they can make their own informed decision about what's best for them.

 

[ray3127]

How would that be a fact for me? I have one child. What does three small contracts do for me?

Sounds like that situation is for a family with three and they are planning on passing it along. That’s situational, not fact. And if that three kid family becomes more kids, there goes that. If that three kid family ends up with one or two who do not want Dvc, there goes the ease.

Timeshare facts aren’t always facts.

It is more than fair to call that a fact. It is frequently discussed on these boards.

If you need to resell, you will get more $ for 75-point contracts, and they will likely sell faster, than one 225-point one.

If your needs change and you don't want to go as often, you can sell part of your points but keep the rest.

As for gifting to family members, that is an added bonus that may be valuable to some, but not to all, as your clearly outlined. I wasn't really referring to that, though.

 

[ray3127]

Great post. I stumbled upon this just now and it’s exactly what I’m looking for. It’s been years since I made it to the DISboards. we just got back from Hawaii where we went on the DVC tour (friends are DVC members there) and we are contemplating DVC (although not in HI - I’m more interested in FL).

So DISboard were my first stop! So here I am asking for solicited advice!

Are there any former posts or other resources you could point me to which can give me an idea of direct vs resale and how all this works?

I’m very Disney savvy - we live in soCal and hubby just finished 3 years of working on Galaxy’s Edge and we’ve done WDW and cruises. But I’m clueless on DVC. I’d love an insiders perspective.

We are a family of 4 - 2 adults and 2 teenage daughters.
We’d be able to travel in adventure season mostly. We aren’t married to any one tower and would like to try various ones.

We wouldn’t do a ton of cooking in the rooms (mainly breakfast) but like the idea of having “space”.

Bring on the solicited advice

You're in the right place! I would recommend searching around throughout all of the DVC forums.

"Buy where you want to stay, or wouldn't mind staying" is solid advice. If you want to try out different resorts, this post in particular will give you an idea about availability of Studios & 1-Bedrooms:
https://www.disboards.com/threads/p...-studios-1-bedrooms-june-2018-update.3689931/
Resale points will only get you into the 14 current resorts, while direct will get you access to all resorts, including the new Riviera and beyond. If you are interested in purchasing Riviera there are serious concerns about its future resale price; definitely look through those threads.

Sounds like Adventure season, but do you know how long your visits may be, and how often you plan to visit? Preferred room size sounds like 1-bedrooms? From there you can start figuring how many points you might want/need. Many suggest adding in a cushion of 10-20% of whatever you think you need, for added flexibility.

There's so, so much more... I would poke around on here some more to get your feet wet some more, then maybe post your thoughts in a thread of your own. You will get many helpful responses from there!

 

[lovin'fl]

@Growin'upDisney Here are my tips:
1) buy where you'd like to stay since now things are tougher at 7 months out (especially studios)
2) buy multiple smaller contracts so if you need to downsize someday, it's easy to sell a small contract
3) buy at different home resorts for more 11 month booking advantage
4) buy the same use year for all contracts
5) resale saves money so if you don't care about the perks then go resale and if you do want the perks, maybe buy some resale and some direct

 

[Mikamarii]

Has anybody else ever had the thought to catch a stranger who appears interested in DVC and ask if they've heard about the resale market? That would be completely inappropriate, right? (Unless they ask you first, of course.)

When you feel the need to educate people do you also include information about the rental market? Renting is probably much more viable and affordable way for many people to stay at a DVC resort.

 

[AdamsMum]

I just *hope* everybody knows some basic FACTS before buying in.

I agree with you there, however, DVC isn't sold to children. As adults making a major financial purchase, it's up to them to ask questions, do research and decide whether their purchase works for them in whatever way. As with anything, some people just make decisions differently. There are enough financial websites, tv shows, books etc. with tons on information.
I've been asked for advice about DVC only once. I gave information about resale (and of course this board), perks, expenses, what I love about it, and some of the frustrations. Emphasized that it's a timeshare, and the pond you are stepping into, might not be the same pond in 2 years. Things change. I was thanked for the information. I don't know if she purchased direct, resale or at all.
Once we reach the age of majority, we make our own decisions. Sometimes a bad decision is a good opportunity to learn.
Ooops. The question was about unsolicited advice. Nope, wouldn't offer anything unless asked.

 

[ray3127]

When you feel the need to educate people do you also include information about the rental market? Renting is probably much more viable and affordable way for many people to stay at a DVC resort.

Sure, I think that's a great idea.

 

[ray3127]

I agree with you there, however, DVC isn't sold to children. As adults making a major financial purchase, it's up to them to ask questions, do research and decide whether their purchase works for them in whatever way. As with anything, some people just make decisions differently. There are enough financial websites, tv shows, books etc. with tons on information.

Fair enough, I get that and agree. If there's one time us adults act like children, it's at Disney!

And I go back to how much misinformation there is about DVC, even among current members. Somebody above said somewhere around 90% of current owners they've spoken with haven't known about the resale market at all. If 90% of people didn't know about the used car market and assumed that you could only buy a car brand new from a dealership, would we not think that's an issue to address?

So for me, I think that DVC is a little different animal than other major financial decisions that people do put more time into. But I would again agree that proselytizing isn't the way to go... I'm not giving unsolicited advice. But I do cringe at that 90% number.

 

[Lumpy1106]

Talking to any stranger about any timeshare is akin to sprouting a horn in the middle of your head. Not gonna do it.

But...
Over beers at the end of the day, if you want to know why I bought resale, it's simple. I bought BLT for $145/pt. We had a LONG delayed closing (6 months). Between the time we bought and the time we closed, the resale price went up $5/pt. I have now booked a trip for next year. My only future DVC expense is maintenance fees; a little more than $6 a point. If I turned around and sold my resale contract in 2020, safe to say the price is not going down, so I would be able to do my trip next year for a little more than $1/point.

Or...
About $175...to stay in a 1 br in a monorail resort in WDW...for 5 nights

Now I'm not planning on selling and I know there are cost associated with selling, and yes the math works out differently (but still really favorably) as the years go on but come on! If you can afford to have your money tied up while you own DVC why not?

 

[AdamsMum]

Talking to any stranger about any timeshare is akin to sprouting a horn in the middle of your head. Not gonna do it.

You've got that right. Even with people who know me. The few times it has come up in conversation about vacations, they look at me aghast. Then I end up having to defend my decision. I try not to mention it. I get enough blank stares just mentioning I go to Disney, let alone disclosing that I own timeshare points there.

 

[mustinjourney]

I hesitate to butt in, because I have a saying about unsolicited advice ... but when there's so much misinformation regarding DVC out there (or simply a lack of understanding), don't you want to "do something"? I suppose that's why many of you post on these boards, which are a truly invaluable resource. But I was just wondering if anybody else had similar thoughts/experiences to mine.

Maybe you should walk around Disney with a sign that says, "Want to know how to save up to 50% on your DVC purchase? Ask me how for details!"

 

[mustinjourney]

I had some friends of friends ask me some Disney advice. They are renting points (at least there's THAT!) and I suggested that 1br at BLT might work better for their needs than 1br at VGF. It was not about cost. They went with VGF anyway. *shrug*

to be fair -- the 1BR at VGF is amazing. And VGF is better than BLT. That's a fact.

 

[mustinjourney]

Great post. I stumbled upon this just now and it’s exactly what I’m looking for. It’s been years since I made it to the DISboards. we just got back from Hawaii where we went on the DVC tour (friends are DVC members there) and we are contemplating DVC (although not in HI - I’m more interested in FL).

So DISboard were my first stop! So here I am asking for solicited advice!

Are there any former posts or other resources you could point me to which can give me an idea of direct vs resale and how all this works?

I’m very Disney savvy - we live in soCal and hubby just finished 3 years of working on Galaxy’s Edge and we’ve done WDW and cruises. But I’m clueless on DVC. I’d love an insiders perspective.

We are a family of 4 - 2 adults and 2 teenage daughters.
We’d be able to travel in adventure season mostly. We aren’t married to any one tower and would like to try various ones.

We wouldn’t do a ton of cooking in the rooms (mainly breakfast) but like the idea of having “space”.

Bring on the solicited advice

The stickies are your friend...

Particularly this one

https://www.disboards.com/threads/the-dvc-resource-center-updated-april-2019.3655476/
and this one for general availability

https://www.disboards.com/threads/p...-studios-1-bedrooms-june-2018-update.3689931/

 

[kboo]

to be fair -- the 1BR at VGF is amazing. And VGF is better than BLT. That's a fact.

Like my children, I love my home resorts equally.

BUT, take this hypo - which resort would you recommend:

Family of 4, youngest child still uses a stroller and naps. Oldest is maybe possibly might be sometimes on a good day out of a stroller or might not (see families forum for latest debate). Family is bringing an unrelated adult* who is going to be caring for said children so the parents can have some date nights out.

For bathroom situation and MK access alone, I would recommend BLT.


*Yes, I did tell them about Kids Nite Out.