First time purchaser: buy soon or wait???

[MamaBear12]

We’ve been wanting to buy into DVC for a while now and we travel to WDW every 12-18 months. We were at WDW in March when the closure happened, so we still have 2 days left to use on our ticket before September and are contemplating a trip in June. We’re now debating whether to buy ASAP so we can hopefully close and squeeze in a 3-night reservation for June, or if we should wait and see where prices land in the next few months and instead rent points or book swan/dolphin for June trip and save our inaugural trip as DVC owners for a longer trip when all the Covid craziness has calmed down a bit. We’re planning to purchase 160-200 resale points at AKV.

 

[RoseGold]

To get in for June, you need to buy ASAP. Even that might be too late.

There's A LOT of resale AKL up your alley on the market right now. I'd put in some offers and try to make this work.

I can see prices dropping a little in the spring, but maybe not. The dues are a much bigger factor in overall cost of ownership, that maybe a few bucks isn't the biggest deal. And maybe you can get a good deal now while there is so much inventory out there. There's a couple Fidelity listings meeting your requirements that I would consider good deals right now, even at listing price.

If you can get a contract with banked points, or something like Oct 2020 UY points, that could cover this first trip for very little premium. This might work out great for you financially.

 

[Ginamarie]

You're going to be tight in trying to book a June trip, but it may be worth a shot. I would at least look at the market and see if they have any contracts that fit what you want. I'm in contract now and waiting on ROFR- if it falls through, there are actually not many contracts on the market right now that otherwise fit my profile, so I'm really hoping this works out!

 

[Sandisw]

I don’t think you are going to see a big change in resale pricing. In terms of June, if you buy now, you can certainly close in time to get something foe the trip,

However, if you are thinking of buying, I would not rent. I’d book Swan and Dolphin so if something happens and you do buy, you could cancel it and use your new DVC points.

This way, it gives you time to decide, look around for a good contract, and then buy if the right one pops up,

Renting locks you in to that reservation.

 

[RoseGold]

Keep in mind that standard protocol is that you don't pay dues on banked points, so that is a HUGE benefit if you can get a contract with them. That's enough to pay closing and then some on a contract this size. They are out there right now!

 

[MamaBear12]

To get in for June, you need to buy ASAP. Even that might be too late.

There's A LOT of resale AKL up your alley on the market right now. I'd put in some offers and try to make this work.

I can see prices dropping a little in the spring, but maybe not. The dues are a much bigger factor in overall cost of ownership, that maybe a few bucks isn't the biggest deal. And maybe you can get a good deal now while there is so much inventory out there. There's a couple Fidelity listings meeting your requirements that I would consider good deals right now, even at listing price.

If you can get a contract with banked points, or something like Oct 2020 UY points, that could cover this first trip for very little premium. This might work out great for you financially.

Thanks! We typically travel Dec, March, or summer, so looking for a Dec UY.

 

[Thecrookedcap]

Just a heads up on the timeline: It has taken roughly 3 months to go from initial offer to complete. I put in an offer on August 20 and on the final step, waiting on the last step, DVC to load the points on my account.

 

[BruinEd03]

One thing to consider is that a lot of re-sellers are still asking for 2020 dues and you will also have to pay for 2021 dues. If you wait till January, they are less likely to ask for 2020 dues.

 

[RoseGold]

One thing to consider is that a lot of re-sellers are still asking for 2020 dues and you will also have to pay for 2021 dues. If you wait till January, they are less likely to ask for 2020 dues.

Most (not all) listings make the buyer pay dues for unused current points, as opposed to banked points. 2021 doesn’t change the status of those points, because it is determined by used year, not calendar year.

 

[Lorana]

Most (not all) listings make the buyer pay dues for unused current points, as opposed to banked points. 2021 doesn’t change the status of those points, because it is determined by used year, not calendar year.

Points are determined by UY, but dues are based on calendar year. From my experience once you roll into a new calendar year, most brokers don’t ask for last year’s dues by default, even if the UY points are available.

 

[JennaWest]

Just a heads up on the timeline: It has taken roughly 3 months to go from initial offer to complete. I put in an offer on August 20 and on the final step, waiting on the last step, DVC to load the points on my account.

Just FYI it actually has sped up a ton! We are in rofr right now. The goal from Disney is 15 days but is averaging 7 days for rofr. 3 days for estoppel and of course closing can change depending on agency but I’ve been seeing about 7-10 days so much much quicker!

 

[UrsulaWantsYourSoul]

Dec UY is super popular so a nice choice for finding matching resale contracts if you add on later. Yes ROFR has been sailing through right now - this could work out nicely for you! FYI if you have a choice in closing companies, people certainly have suggestions on which are fastest/best to work with.

 

[MamaBear12]

Dec UY is super popular so a nice choice for finding matching resale contracts if you add on later. Yes ROFR has been sailing through right now - this could work out nicely for you! FYI if you have a choice in closing companies, people certainly have suggestions on which are fastest/best to work with.

I would definitely appreciate closing company recommendations!

 

[UrsulaWantsYourSoul]

I would definitely appreciate closing company recommendations!

Oops - I mean Title company and I've been hearing people say they prefer Mason.
But some peeps who have done more resale weigh in.

 

[poofyo101]

I would definitely appreciate closing company recommendations!

Mason
Jeffrey C. Sweet
another one called TRCS or something like that.
All good.

 

[DSLRuser]

The #1 thing people always say is "they wish they would have bought sooner". So if you are remotely interested, and you have the cash to do so....BUY BUY BUY!!!

 

[Lorana]

The #1 thing people always say is "they wish they would have bought sooner". So if you are remotely interested, and you have the cash to do so....BUY BUY BUY!!!

Yes, this. I sooooo wish I had bought sooner!

 

[havoc315]

1. As the world gets closer to normalization, prices will increase, not decrease.
2. If you're definitely going to purchase eventually, then taking trips before you purchase is just a waste of money.

In other words, if you are definitely going to purchase eventually, there is really no reason to wait. Conversely, if you're still "considering" whether to purchase or not, then I wouldn't rush a purchase just to squeeze in the one trip.

 

[Matty B13]

Unless we are heading into a massive recession that no one is seeing right now, especially Wall Street. Prices are only going to be heading higher, so I would just purchase now, if you can handle it financially.

 

[BruinEd03]

We’ve been wanting to buy into DVC for a while now and we travel to WDW every 12-18 months. We were at WDW in March when the closure happened, so we still have 2 days left to use on our ticket before September and are contemplating a trip in June. We’re now debating whether to buy ASAP so we can hopefully close and squeeze in a 3-night reservation for June, or if we should wait and see where prices land in the next few months and instead rent points or book swan/dolphin for June trip and save our inaugural trip as DVC owners for a longer trip when all the Covid craziness has calmed down a bit. We’re planning to purchase 160-200 resale points at AKV.

Can you pay cash now?

If so, consider making low offers. If prices go lower, the price you paid won't be on the high end (more like middle). If prices go higher, then you will have protected yourself. However, if you are looking for contracts with 2020 points, you may want to wait until January or factor that into the price you offer. Otherwise, resellers may try to make you pay 2020 dues (in addition to the 2021 dues in January).

If you cannot pay cash, wait until you can pay cash.