getting ready to make the plunge

[Diz Kid]

we just got back from WDW yesterday. While there, we went through the open house. Loved it, want it! The questions we have are numerous, but I'll just stick to just one right now.

1. Should we buy through Disney or The Timeshare Store?

Paul

 

[tjkraz]

Primary consideration: If you are partial to one resort over the others, then you should really buy at that resort. The 4 month booking advantage really can make a difference.

Secondary consideration: If the additional 12 years in the contract at SSR are of value to you, then consider SSR. Even with the additional dollars you will pay to DVC buying direct, SSR is most often the best deal (unless you want to get into time value of money calculations and discover that years 2043 to 2054 have almost no value in 2004 dollars.)

If the 12 years at SSR are of little value to you (due to age, family situation, etc.) then you will probably make out nicely buying a resale.

 

[5infam]

Keep in mind that if you saw the open house, you probably saw the SSR rooms (I also think they are very nice!!), although you can still view the BCV rooms as well (also nice). I bring this up because themeing is a little different in each resort, as well as the dining table set up. For instance, we own at BWV, but I really liked the fact that SSR and BCV both use granite for their kitchen countertops (much nicer look), which wasn't in our BWV room. I know its a small point, but I bought site unseen and didn't know there was a difference like I mentioned in each location. That being said, we loved the BWV location so much (granite countertops aside) we still added on to our BWV contract.

 

[Disney Doll]

I would agree that it would depend on:
1. Where you want to buy- If you want to buy at one of the resorts that the DVC itself no longer has available, you will have to buy a resale from a timeshare sales company.
2. How you plan on financing-if you buy from DVC, you can finance through them. DH and I did that with our first contract purchase. We financed it for 10 years, because that had the lowest monthly payment, with the understanding that we were going to pay it off sooner, but if we had a month where things were a little "tight", then all we'd HAVE to pay was the low monthly payment. That strategy worked for us, and we had it paid off in about 3 years. If you buy from a timeshare resale company, you are going to have to figure out some other way to finance. There are several creative ways. I know people who have put it on their Disney VISA to get the points, and then paid off the Disney VISA with a home equity line of credit to get the tax benefits. There's the obvious personal loan, paying cash etc.
3. How important is the length of the contract to you?-If you buy a resale of OKW,BCV,BWV, or VWL, you will have the contract 12 years less than if you buy SSR from the DVC. If you are young, that may make a difference to you. If you are older, it may not. DH and I will be 84 and 80 respectively when our DVC contract expires(it is not an SSR contract), so if I were to purchase now, I probably wouldn't go for SSR since having the 12 more years would not be a necessity for me, as I'd probably be too old to enjoy it at age 92 anyhow!!!! However, if I was in my 20's right now and thinking of buying, that extra 12 years that I could get with an SSR contract might mean something!

The most important thing is to buy where you want to stay!!!!! That 11 month booking window can mean a lot at certain times of the year, so if there is a specific resort that really "draws" you, then buy there.

 

[Diz Kid]

Thanks for all the good suggestions and ideas. My wife and I are nearly 50 (she's closer than me.... hee hee), so the extra leasing time is not a factor. I've been looking at OKW resells. Most for 150 points go around the 10k bracket. I'm in the process of refinancing my home and might have a bit left over to buy it ourright.

Some many decisions, so little brain!!

Paul

 

[sunan]

For a resale, I'd try all these sites:

http://www.dvc-resales.com/
http://www.atimeshare.com/cgi-local/listd.cgi?disy
http://www.dvcbyresale.com/
http://www.reid4florida.com/disney_hot_buys.htm

And don't be afraid to call. You may find a perfect match before it ever hits the web. We did.

Best of luck.

 

[TigerLaw]

I LOVE the disney visa idea!

 

[calypso*a*go-go]

Don't forget that you can also use the Disney Visa Rewards to pay your annual maintenance fees as well.

 

[wtpclc]

Holy Cow!! Very recent owner and just decided I should get a Disney Visa now that I've maxed out my auto card points. Using it to pay the maintenance dues is awesome!

Thanks for the info!

 

[steve and julie]

I am in the same situation

buy resale or SSR

read my post from 4/15/04 and look at my idea about why I think I can buy SSR at just about the same as a resale.

I also think that SSR will be worth alot more in the future due to the 2054 experation date and thats resale value.

hope I was helpful

steve

 

[steve and julie]

I am in the same situation

buy resale or SSR

read my post from 4/15/04 and look at my idea about why I think I can buy SSR at just about the same price as a resale.

I also think that SSR will be worth alot more in the future due to the 2054 experation date and thats resale value.

hope I was helpful

steve