Getting closer to a decision, but...

[laura428]

I've been weighing the DVC decision for a while now, looking at it more closely over the past few months. We've been to WDW about 10 times over the last 7 years, often enough for DD10 to feel homesick when we've been away too long. Me too.

So... I naturally started thinking about buying into DVC. The catch is that I'm thinking we may slow down our visits over the next 7 years. With DD turning 11 in a few months, and DS turning 13, there are other places we want to check out. And I've researched enough to know that using our DVC points for non-WDW or DCL vacations wouldn't be the best spend of our points, anyway. But DS13 has surprised me recently with how much he still loves Disney - over the moon with our upcoming Spring Break 2017 trip. And with Star Wars coming more and more to the World over the next several years, I know that won't die down too soon.

We have enough to pay cash without financing, so that's not a concern. Another thing in the plus column is that I love the idea of passing this on to them - has anyone used that as, maybe not a deciding factor, but at least an influencer? Running a few calculators tells me that we should come to the break even point right about when DD hits college, or at least mid-college, so I like the notion of being able to continue our vacations through college, and then allowing them to take their families (and maybe join them) beyond that.

I guess what I'm asking is... has anyone bought with their kids well out of "little childhood" with the intention of passing this along to them at some point? Or with plans to use until you've gotten your money's worth and then sold? What made you leap? Or decide not to?

 

[_auroraborealis_]

The challenge with post-college is that if you're doing large group trips, it becomes a matter of not having the points to cover if you buy based on current need (and you shouldn't anticipate). Or having some form of "equitable division" of point use.

 

[laura428]

The challenge with post-college is that if you're doing large group trips, it becomes a matter of not having the points to cover if you buy based on current need (and you shouldn't anticipate). Or having some form of "equitable division" of point use.

Yes, I thought about that. How will we have the kids split the points we have available? I'm sure we'd find a way to work it out, but you're right - we wouldn't want to buy enough right now to cover putting everyone up. Was thinking maybe we add at some point, if we find a good deal and it works with what we already have (same UY, etc.). Still very new at this stuff, but you make a good point.

 

[kniquy]

has anyone bought with their kids well out of "little childhood" with the intention of passing this along to them at some point?

I guess you would say my kids are out of little childhood. I have twin boys who are going to be 11 soon and DD who is 3. I really have not considered leaving it to them, but would allow them to use it when they are older (my AKV contract will expire when i am 82) One factor in your decision would be expiration dates of the various DVC, if you haven't already, look at resale it will save you a ton!! Timeshares are not necessarily the best thing to pass on to your children because it can be a financial burden -- it is not a free and clear gift. There are increasing yearly maintenance fees that they may not be able to afford. I think when they became adults (over 18) you could add them on to your membership so they would be owners. You might want to wait until they are out of college because it is real estate and could affect financial aid (someone with more experience could clarify).

 

[laura428]

I guess you would say my kids are out of little childhood. I have twin boys who are going to be 11 soon and DD who is 3. I really have not considered leaving it to them, but would allow them to use it when they are older (my AKV contract will expire when i am 82) One factor in your decision would be expiration dates of the various DVC, if you haven't already, look at resale it will save you a ton!! Timeshares are not necessarily the best thing to pass on to your children because it can be a financial burden -- it is not a free and clear gift. There are increasing yearly maintenance fees that they may not be able to afford. I think when they became adults (over 18) you could add them on to your membership so they would be owners. You might want to wait until they are out of college because it is real estate and could affect financial aid (someone with more experience could clarify).

Thanks for the advice! I most definitely would not want to burden them, with either costly fees or by affecting their financial aid. So by adding them as owners after college, are you saying DH and I would continue to pay the membership fees (or share with them, if we decide at some point), but then they are on the contract as rightful owners? This seems to make good sense.

 

[kniquy]

Thanks for the advice! I most definitely would not want to burden them, with either costly fees or by affecting their financial aid. So by adding them as owners after college, are you saying DH and I would continue to pay the membership fees (or share with them, if we decide at some point), but then they are on the contract as rightful owners? This seems to make good sense.

There is a process and fee to adding their names to the deed, but if you really do want them to have it in the event something happens to you and your husband that would be the easiest way to do it. Or if only one of them is interested in it then just put that one child. At that point they would need to figure out a fair plan for use of the points and payment of the maintenance fees.

There might be other legalities the consider -- others may have some input

 

[disneynutz]

Since DVC is nothing more than a pre-paid timeshare hotel room, compared to what you spend now for your room, will DVC save you money? Do you need a larger room like a 1 bedroom, do you want to cook while on vacation? Have you thought about renting from an owner?

Many owners do not keep their contracts full term, thousands sell yearly. Like most things, when new you will increase your Disney vacations, after awhile, probably decrease, and you may not use DVC as much. Same thing happens with RV and boat owners.

Bill

 

[suebeelin]

Calculate your break even and the number of trips you will likely make going forward.

We decided we were likely going to make 7 more one week trips until our break even point, regardless of the age of our children.

So we bought....

 

[Disney Dad ADL]

Thanks for the advice! I most definitely would not want to burden them, with either costly fees or by affecting their financial aid. So by adding them as owners after college, are you saying DH and I would continue to pay the membership fees (or share with them, if we decide at some point), but then they are on the contract as rightful owners? This seems to make good sense.

Well, one good aspect of DVC at least based on current conditions is that even if your children are not interested in Disney, they can rent the points out for more than the dues are (not every timeshare can say this), and also DVC timeshares still have value on the resale market, so they could also sell. Some timeshares are very difficult to get rid of even for free. However, there is no guarantee that DVC will continue to have strong demand in the future.


Also, DVC expires at some point, unlike some other timeshares.

If you want to let your kids use your DVC membership without actually adding them as owners, you can add them as Associate, which gives them the power to use your points without actually having ownership and also does not require changing the deed. It's much cleaner this way so you don't get your finances entangled with your childrens'. They wouldn't get any Membership perks, but to be honest for resale purchasers now there aren't really many left.

In terms of passing on DVC to our kids in the future, our membership is in a living trust, so they will get it if we pass away before it expires.

 

[Matty B13]

You can always rent your points, seems to be a pretty good option if you slow down.

 

[laura428]

Since DVC is nothing more than a pre-paid timeshare hotel room, compared to what you spend now for your room, will DVC save you money? Do you need a larger room like a 1 bedroom, do you want to cook while on vacation? Have you thought about renting from an owner?

Many owners do not keep their contracts full term, thousands sell yearly. Like most things, when new you will increase your Disney vacations, after awhile, probably decrease, and you may not use DVC as much. Same thing happens with RV and boat owners.

Bill

Calculate your break even and the number of trips you will likely make going forward.

We decided we were likely going to make 7 more one week trips until our break even point, regardless of the age of our children.

So we bought....

Well, one good aspect of DVC at least based on current conditions is that even if your children are not interested in Disney, they can rent the points out for more than the dues are (not every timeshare can say this), and also DVC timeshares still have value on the resale market, so they could also sell. Some timeshares are very difficult to get rid of even for free. However, there is no guarantee that DVC will continue to have strong demand in the future.

You can always rent your points, seems to be a pretty good option if you slow down.

All good advice - thank you, everyone. This all has me leaning toward buying. Looking at how many times we'll likely visit over the next 7-8 years, and how we like to travel, DVC kinda makes sense for us. Now, I just need to decide how many points, and where. Thinking 150-180 points on resale, then adding 25 direct through Disney to get in on DVC benefits.

 

[Matty B13]

All good advice - thank you, everyone. This all has me leaning toward buying. Looking at how many times we'll likely visit over the next 7-8 years, and how we like to travel, DVC kinda makes sense for us. Now, I just need to decide how many points, and where. Thinking 150-180 points on resale, then adding 25 direct through Disney to get in on DVC benefits.

If your thinking of leaving it to your kids, WDL resort is a 2042 resort. Might want to wait for Copper Creak Villas to come out with their pricing, hopefully it come in lower that the Poly, but probably won't.

 

[MaryLovesPoohBear]

We started going to Disney World when our son was 11. In fact, he celebrated his eleventh birthday there.

He is now 21. And although he understands, he would really like to go with us on our next trip. We are going to celebrate our 25th anniversary, so no, we are not taking him with us.

So, yes, at 21 and at 18 and 17 and 15 and younger, down to 11, he loves Disney.

Of course your children may be different. Vacation club is such a personal decision.

 

[_auroraborealis_]

Once someone is on the contract as a full member, the contract is considered an asset for them and can be impacted should they have debt issues or judgements. They can also use the points unaided. So it's good to consider everything before adding even well-loved children to a deed.

 

[crisi]

Be careful planning long term for your kids.

It sounds like you will be looking for aid for your kids for college. That means loans. That means that when they graduate, they'll have debt. Disney is an expensive vacation - its a really expensive vacation when you work a starter job, are trying to afford your own apartment and/or a car, and are carrying student loan debt. I had no student loan debt, but it was years before I could afford to vacation on my own. So, are you thinking that you'll be continuing to pay for their vacations when they are in their 20s?

My eighteen year old doesn't like Disney. My seventeen year old still does. But they both like other places - for my son, he wants a beach - Mexico, Hawaii. For my daughter - a city with history and museums - London, Boston, Washington DC.

 

[KAT4DISNEY]

Best to buy for your own use and if anything you can plan to leave $$$$'s to your kids that they can buy their own contract should they wish and be able to afford keeping it. I wouldn't consider leaving DVC to your children as a reason to buy - it should make sense without that.

 

[Dean]

I've been weighing the DVC decision for a while now, looking at it more closely over the past few months. We've been to WDW about 10 times over the last 7 years, often enough for DD10 to feel homesick when we've been away too long. Me too.

So... I naturally started thinking about buying into DVC. The catch is that I'm thinking we may slow down our visits over the next 7 years. With DD turning 11 in a few months, and DS turning 13, there are other places we want to check out. And I've researched enough to know that using our DVC points for non-WDW or DCL vacations wouldn't be the best spend of our points, anyway. But DS13 has surprised me recently with how much he still loves Disney - over the moon with our upcoming Spring Break 2017 trip. And with Star Wars coming more and more to the World over the next several years, I know that won't die down too soon.

We have enough to pay cash without financing, so that's not a concern. Another thing in the plus column is that I love the idea of passing this on to them - has anyone used that as, maybe not a deciding factor, but at least an influencer? Running a few calculators tells me that we should come to the break even point right about when DD hits college, or at least mid-college, so I like the notion of being able to continue our vacations through college, and then allowing them to take their families (and maybe join them) beyond that.

I guess what I'm asking is... has anyone bought with their kids well out of "little childhood" with the intention of passing this along to them at some point? Or with plans to use until you've gotten your money's worth and then sold? What made you leap? Or decide not to?

I think it's a good idea to look longer term, like 5-10 yrs and to have a possible end of life, end of DVC and exit strategy at least in general terms. IMO, where people often make mistakes is on overplaying and on paying more now for those options later that usually won't work out the way you want them anyway. Assuming you're OK with the compromises of a timeshare and can plan 7 or more months out, it's likely a good choice. And if in 5-7 or so years you're not going as much, you'll still have options. One way to put yourself in the best possible situation is to get the best/cheapest choice going in that serves the purpose. Another is to underbuy even if it doesn't quite cover everything the next few years. A good way to do that is to search for loaded contract were one has more points now and for a few years but will have a little less yearly long term. IMO it's almost never a reasonable choice to try to buy to leave it to multiple heirs individually unless one is looking at 300 or more points total and even then it often isn't a reasonable choice. The extra cost up front to have that option that is rarely worth it financially if that's the only reason for the choices. Just like it's rarely worth the same type of choices as an exit strategy to have more now and sell part later.