Getting Cold Feet

[lymaniii]

We signed two purchase agreements for 100 points each for the Grand Floridian 10 days ago. We can send a fax by midnight tonight to still back out. I'm starting to get cold feet.

We've done the math, done the research, felt good about this before. We have a family of 5 and having a studio that will fit us all so close to MK seems worth the price. The size of the resort and likely resale opportunity if we ever want out makes me feel that this is a reasonable buy (recognizing the risks, but my gut tells me this is going to be a reasonable resale opportunity).

So, why the cold feet? The main things are 1) we will likely never use the points for the other collections for which buying directly from Disney is necessary and we can get a better price with resale, even at VGF. 2) I have never owned DVC points and I'm starting to wonder how much of a hassle it really ends up being to rent out the points, remember to bank them before the deadline, plan far enough ahead to get the dates and rooms we need, etc.

So my question is for those of you who are experienced. After owning and using, having kids grow up, using all the various features, is it worth it? Is it a hassle to rent out points, always keep track of banked and borrowed points, etc.? Or is it really pretty reasonable? Recognizing there's a bias in those who actively participate here, do you have the sense that most DVC members are glad about their decision or regret it like so many other timeshare owners?

 

[DVC Doctor]

First you are buying only two 100 point contracts and that is not a huge risk as the pries are going up $10pp in a few weeks

However, it sounds line you may be better off buying a single 300 point SSR resale for less than half the price as VGF.

If money is an issue then stick with resale. If not and you live VGF then stick with what you have.

VGF will he value as it is so small hit it will drop at least 10-20% if you want to sell.

Also the points to book VGF is much higher than other DVC resorts.

 

[DVC Doctor]

Also I think you will tire of a studio as the kids get older seriously 5 people is tight in a studio and you will want a 1 or 2 bedroom.

I would NOT buy VGF with the intention of renting. You should only buy enough for your planned use. Of course banking and borrowing is pretty easy and DVC is very flexible.

 

[disneynutz]

DVC is worth it if you want/need DVC accommodations and you are already vacationing at WDW at least every 2 years.

VGF is worth it if the GF is your favorite resort, you have stayed at them all to verify that fact and you love the MK area.

If you don't say yes to the above, I suggest that you rescind the contracts, take a deep breath, do your research and maybe buy a 200 point resale contract at SSR.

Your gut feeling is probably correct, go with it.

Bill

 

[chetcroc]

Buy the points. You want regret your purchase. But, only buy for your stays. Don't consider renting. Also, I agree, you probably need more points. The studio will get cramped with 5. The two bedrooms at the VGF are awesome. Try to buy with that in mind. Just my two cents.

 

[ToddyLu]

Haven't regretted it at all...worth every penny. I will tell you that it will CHANGE the way you vacation. You will start spending more time away from the parks at the pool or perhaps a community hall or arcade as the kids get older. They are all beautiful resorts.

Owning DVC changes your trip to Disney like a Corvette changes your drive to work.

I decided after knowing that we were going every year that I wanted something a little nicer and more luxurious. We get that with DVC and it is one of the ways a firefighter and nurse can do Deluxe Disney once or twice a year. It has worked very well for us.

 

[PacoDF]

If you love VGF and plan to stay there always, keep the contracts.

Also I think that a studio for 5 if the kids aren't toddlers, isn't what I would call a deluxe accommodation.

Maybe you can think about resale for a lot of extra points for the same money. It will allow you to get bigger rooms for your family.

 

[nd43]

We signed two purchase agreements for 100 points each for the Grand Floridian 10 days ago. We can send a fax by midnight tonight to still back out. I'm starting to get cold feet.

We've done the math, done the research, felt good about this before. We have a family of 5 and having a studio that will fit us all so close to MK seems worth the price. The size of the resort and likely resale opportunity if we ever want out makes me feel that this is a reasonable buy (recognizing the risks, but my gut tells me this is going to be a reasonable resale opportunity).

So, why the cold feet? The main things are 1) we will likely never use the points for the other collections for which buying directly from Disney is necessary and we can get a better price with resale, even at VGF. 2) I have never owned DVC points and I'm starting to wonder how much of a hassle it really ends up being to rent out the points, remember to bank them before the deadline, plan far enough ahead to get the dates and rooms we need, etc.

So my question is for those of you who are experienced. After owning and using, having kids grow up, using all the various features, is it worth it? Is it a hassle to rent out points, always keep track of banked and borrowed points, etc.? Or is it really pretty reasonable? Recognizing there's a bias in those who actively participate here, do you have the sense that most DVC members are glad about their decision or regret it like so many other timeshare owners?

First, if you are not sure, go ahead and cancel. You literally can do the same thing in 4 weeks at the same price. Do not beat yourself up for cancelling. It happens. You will not be the first. Your guide will be just fine. Do what is best for you and your family. DVC is about fun, family, and vacations. It is not about extra stress.

Now, if you decide to stick. Stop worrying and enjoy it. We have loved VGF. It is a great resort. If you decide in 12 months you "made a mistake", I am guessing, given the price increase, you will get about $135 to $140 for your contracts on resale. Not great. Not a disaster.

For what you sell VGF for you can turn around and buy a larger resale contract (meaning more points) at several resorts for less money. The loss of VGF will just add a little to your next purchase. Again, probably not a disaster.

So, either way, my advice is DO NOT STRESS. You are buying into a vacation timeshare to lower stress. If you cancel. No problem. You can take a few weeks and go again if you want. If do decide to continue, even if you do not like it, the exit is not awful.

Lastly, if you are an early planner, there is nothing I have experienced in the DVC process that is awful (in fact, on the whole, it has been pretty painless for us). We now enjoy locking our plans early. It gives us something to look forward to. While leaving on the bus from our last two visits my wife and I discussed our "point strategy" for our next visit. It took some of the pain away from leaving!

 

[nd43]

BTW. I would agree a studio for a family of 5 will get old. I am guessing if you buy VGF, at some point, you are going to try a 1 bedroom at another resort (I would guess AKL because it is pretty easy to get at 7 months and the kids will love it). After that, you will have a dilemma. You will either decide to buy more VGF points or get another contract somewhere else because the thought of going back to a studio will be too painful or you will sell your VGF contracts and buy another resort on resale so you can always get a 1 bedroom.

That is a complete guess on my part! However, it is more likely, IMO, you will have this dilemma then finding you hate DVC.

The good news is, that change is not a disaster. Other members have done it routinely (add more or sell and repurchase at a different resort).

 

[Msmithmd]

You're buying the one place where direct purchase makes reasonable sense, and buying in contract increments that will be attractive to the resale market down the road, if you do tire of it in five years or so.

Unless you're financing the purchase, I personally would stick with the decision to buy.

If you're financing, the interest charges on a big chunk of a $31k purchase could cost you plenty, especially if you were to sell out early.

So if your "cold feet" are due to financial stress, then listen to your brain and not your heart. DVC is always going to be there.

If it's not that issue, I think you're making a reasonable purchase decision, for what that's worth.

 

[DisK]

$31,000 is a lot of money......if there is ANY hesitation, you need to back out and re-think it. You can always buy again.

 

[KAT4DISNEY]

I also say if there's any doubt then cancel. You can make the deal again next week, in a month or even tomorrow. It's likely you'll get a good idea right after you send it in whether it was right or wrong but go ahead and take some time. It's the last chance you have the get out free card so if in doubt use it.

 

[horselover]

First, if you are not sure, go ahead and cancel. You literally can do the same thing in 4 weeks at the same price. Do not beat yourself up for cancelling. It happens. You will not be the first. Your guide will be just fine. Do what is best for you and your family. DVC is about fun, family, and vacations. It is not about extra stress.

I agree. If you are at all unsure then back away (for now). DVC isn't going anywhere. Take your time & be sure of your purchase. Perhaps do a little more research into a resale contract. Once you are sure what is best for your family then you can go forward with a happy heart.

 

[staceymay00]

Family of five, also...my kids are now elementary through middle school age. Personally I would not buy into DVC planning for my family of five to stay in a studio year after year. You can always add on more points, or course, but that raises your cost even more and I don't think the VGF 1BRs even officially sleep five, although currently DVC members are allowed to book five in a 1BR that officially sleeps four. I would look into BLT resale if you want a MK resort - 1BRs officially sleep five and have a second bathroom, plus you'll save thousands buying BLT resale over VGF direct.

Sent from my iPad using DISBoards

 

[lymaniii]

VGF studio and 1 bedroom both do officially sleep 5. Yes, the studio is a bit cramped, but our kids are currently 9, 7, and 4, and I think we'll get along okay. When they get older we'll go with a 1 bedroom every other year, or something like that.

Thanks for all the great advice!

I like the idea of staying at Grand Floridian before buying in, but unfortunately that's not really an option for us. We've been there for meals, we've toured the rooms, but there won't be an opportunity for us to try it out before the price goes up unacceptably. Our first visit will be in December in the Grand 3 bedroom.

And, no, we're not financing. IMHO, financing automatically makes DVC unacceptable. But I'm financially conservative like that, I guess.

Again, thanks to all for taking the time to weigh in. I'm sticking with the contracts.

 

[a742246]

VGF studio and 1 bedroom both do officially sleep 5. Yes, the studio is a bit cramped, but our kids are currently 9, 7, and 4, and I think we'll get along okay. When they get older we'll go with a 1 bedroom every other year, or something like that.

Thanks for all the great advice!

I like the idea of staying at Grand Floridian before buying in, but unfortunately that's not really an option for us. We've been there for meals, we've toured the rooms, but there won't be an opportunity for us to try it out before the price goes up unacceptably. Our first visit will be in December in the Grand 3 bedroom.

And, no, we're not financing. IMHO, financing automatically makes DVC unacceptable. But I'm financially conservative like that, I guess.

Again, thanks to all for taking the time to weigh in. I'm sticking with the contracts.

Good for you!

 

[HokieGCC]

First the Property - The VGF is worth some money because of it's location and Monorail access. You won't be wondering if you should have purchased anywhere else assuming your kids like MK better than the other parks.

The Room - Don't sweat it as you can adapt or add points over time.

Here is where I would really think hard. - How "big" financially is this for you? If you have tons of extra money then just go enjoy and forget about the little things. If this purchase is large for you then watch out because not only do you have the initial investment but ~$1200/year or so in fees (going up each year) and the cost of travel and food for each of your vacations. If your kids go to college there are some very expensive times ahead.

We were at this crossroad many years ago when our kids were small. We decided not to buy in then realizing that you can go to DW any time you want with or without DVC. Now that our kids are in College and this expense is almost behind us we finally did buy in. Sounds a little backwards at first but we did (almost done) the College thing and still went to DW every year. It was better for us to not have this money tied up enabling us to go with the flow verses be forced to use up some points when we didn't have the money for the trip.

 

[bakerworld]

After our initial purchase I got a case of very cold feet because I didn't understand the booking procedure. I found MS very unhelpful and our guide was always on vacation. Consequently it took us about 6 months to use our original purchase. As we talked to people, I felt 'taken' until my better half pointed out that the resale was for all the older venues.

Learn from these forums but don't be intimidated or 'put off' by the advice. Remember why you are buying where you are buying and you'll be able to 'use' the information.

 

[staceymay00]

VGF studio and 1 bedroom both do officially sleep 5. Yes, the studio is a bit cramped, but our kids are currently 9, 7, and 4, and I think we'll get along okay. When they get older we'll go with a 1 bedroom every other year, or something like that.
.

My mistake, I did not realize that the VGF 1BRs also have the pull out bed. I just looked at the 1BR floor plan and it looks like they have a split bathroom with two showers and two sinks...so this works better for a family of five than 1BRs at some of the older resorts, and almost as well as 1BRs at BLT and AKV.

Congratulations, I'm sure you will really enjoy your membership!

Sent from my iPad using DISBoards

 

[LisaS]

I just looked at the 1BR floor plan and it looks like they have a split bathroom with two showers and two sinks...so this works better for a family of five than 1BRs at some of the older resorts, and almost as well as 1BRs at BLT and AKV.

The VGF 1BR does have a split bathroom with a sink in each room but only one of the rooms has a shower. The other room has a free-standing soaking tub with air jets in the bottom.

It is the VGF studio that has two showers.

ETA: I was just looking at the floor plan for an HA 2BR lockoff at VGF. This particular floor plan shows a roll-in shower in the master bath but no soaking tub. The studio side has one large bathroom (not split) with one tub/shower combo. I know the other resorts have more than one type of HA room and the layout varies so it's possible that not all HA rooms at VGF are set up this way. However, it is possible to get assigned to an HA room even if you did not request one so it's possible that a family of five could book a VGF studio expecting two showers and get an HA room that does not have them.