How did you decide it was "ok" money wise to purchase DVC? Loooong

[disneyofcourse]

I've been going back and forth in trying to decide whether to buy DVC or not. I've always kept myself out of debt and have always looked at timeshares as a waste of money. But... with Disney I already go every year and the timeshare idea seems to make sense. One problem is that the money saved is originally for a new car and buying DVC would leave me with exactly half of my car fund. So here's my story.....

Every year I go during May for 5 nights with a water view room and tickets its under $2000 for the whole trip.(2 people) If I look at buying 160-200 points I'd be looking at appx. $800-1000 in yearly fees at $5 a point. Thing is with that many points I can go twice a year in May and during a value time. Meaning it would make sense to buy annual tickets that already include park hopper for the 10+ days I could book each year. With my math it looks like I could go to Disney for double the time for the same price as one trip. $532 x 2 Adults for tickets and then $1000 in yearly maintenance fees. Total just over $2000 for two trips.

Then I have to figure out my initial buy in cost. Say I buy in at BWV at $65 point and get 200 points. That's $13k without closing costs. With the contract expiring in 30 years. Bringing costs up another almost $500 a year to a total of $2500 a year + however much dues go up. Luckily I won't need to finance so that keeps the cost down.

After thinking and thinking I just don't know if buying in is worth spending money on. 5-7 years ago I would have jumped on it but I'm just getting more and more cautious with money. Part of me thinks this is a great opportunity to basically lock in a vacation each year and forcing me to take time off to enjoy life. I also plan on eventually adopting or having kids one day and I remember what fun it was to take a family trip every year for a week or two. All those great memories make me want to offer my future kids guaranteed vacations each year.

I think I just have issues spending money on myself!! Should I go for this and just do it? I don't think I'd regret it once I stepped foot into "vacation time". But on the other side I wouldn't regret not spending the money.

The other huge issue I have is deciding on a home resort If I buy in but that's a whole other book I could write. Sorry for the long-ness but It really helps me decide if I write things out.

 

[LoveBWVVBR]

We own DVC and will be selling it in the next couple of years. My advice would be to buy some cheap resale Wyndham points and stay at Bonnet Creek (INSIDE the Disney gates) instead, or buy a cheap timeshare trader that gets a lot of trade point units on RCI and trade into DVC. Our Wyndham contract (bought resale off of Ebay for $700 2 years ago, so much cheaper now) gets us 203K annual points. That is enough for 5 nights in a 2 bedroom over Thanksgiving plus 2 more long weekends during the year. We pay $73.xx a month in dues.

By contrast, our 250 DVC points don't even get us a week in a 2 bedroom and we pay like $1300/year in dues on those. Being that I actually like Bonnet Creek more than I like DVC, I'm ready to sell the DVC points.

 

[Pakey]

I own 500 points, paid cash for them in 3 separate contracts.

I regret it. 50 years is a long time to vacation in the same place. I have owned for about 14 years.

Membership used to have great perks that are now gone plus Disney has so many discount offers that DVC is not the deal it once was.

No matter how you run the numbers DVC is a frivolous purchase. If you are okay with that, go ahead. If you are second guessing or having to justify it, don't do it.

 

[disneyofcourse]

Thank You, This is the honest opinion I've wanted to hear.

 

[Marionnette]

We decided against buying DVC for pretty much the same reasons that they others have stated. But one of the most frugal people that I know bought into SSR several years ago and he doesn't regret it.

The big thing that turned us off was that your points expire after a certain number of years and the deed reverts back to Disney. Plus Disney reserves the right of first refusal, which keeps the resale prices artificially inflated.

I don't know if you asked this question on the DVC boards as well. But I'm willing to bet that you will get a different response from their regulars than you will from budget board members.

 

[ceecee]

We've crunched the numbers too and it's just not worth it to us. We still vacation at WDW yearly and usually stay in a moderate which for us is fine.

 

[roliepolieoliefan]

DH and I have crunched the numbers many many times and we just can't figure out how its a good purchase.

There are so many discounts now plus the perk of renting points from someone without having to pay maintance fees and the initial purchase is the best of both worlds.

 

[brymolmom]

We, too, have opted against it. We enjoy going when there is 'the best deal' available. Don't forget in your calculations the travel cost is twice as much for going twice in a year - not that it affects the actual WDW costs - but it COULD affect your budget for the year and maybe push you over.

IMO, DVC MIGHT make sense if you like to go to WDW one long or two medium trips per year and have to stay at a deluxe to enjoy it.

We go once or twice a year, but stay wherever the deal is the best - this summer will be POR with free dining. We don't need an upscale resort for our WDW time as we spend a lot of time in the parks. And if we want more upscale - we stay offsite and get a great deal.

Personally for this I think we likely save a ton of money over buying DVC. Annual costs might be slightly less if we had it - but factor in the upfront lump sum cost and it is way over the top.

 

[delmar411]

No opinion on whether you should purchase or not but wanted to mention DVC'ers get $100 off each AP. So your AP cost would be $200 less.

 

[jmpellet]

We decided to purchase a very red week on the Cape on eBay for just $139. It's week 33 and its value is actually more than is necessary for a 1 bed at BWV. With RCI's new system I actually got "change" back that I can combine with other deposits for a one time fee of $99. We live in MA and feel like we could use the week we own if airfare was unaffordable in certain years.

So when I figure how much my week in August at BWV actually costs, I included:

1. annual RCI fee - $89
2. RCI exchange fee - $179
3. My maintenance for my week - $365 (really low!)
4. Disney's fee to use transport and book dining - $95

So for $728 I get a week at Boardwalk Villas! Plus, with the change leftover and next year's points I can actually get two FULL weeks - one in Las Vegas and one in Sedona, which we plan to do in 2012.

 

[L107ANGEL]

We own DVC and will be selling it in the next couple of years. My advice would be to buy some cheap resale Wyndham points and stay at Bonnet Creek (INSIDE the Disney gates) instead, or buy a cheap timeshare trader that gets a lot of trade point units on RCI and trade into DVC. Our Wyndham contract (bought resale off of Ebay for $700 2 years ago, so much cheaper now) gets us 203K annual points. That is enough for 5 nights in a 2 bedroom over Thanksgiving plus 2 more long weekends during the year. We pay $73.xx a month in dues.

By contrast, our 250 DVC points don't even get us a week in a 2 bedroom and we pay like $1300/year in dues on those. Being that I actually like Bonnet Creek more than I like DVC, I'm ready to sell the DVC points.

I have to say I am VERY intrigued by this! I honestly know nothing about any time shares but am toying with the idea of a time share, not Disney. Excuse me while I duck

 

[eliza61]

I'm a 10 year dvc owner. I have a small contract at BCV's. It was a good purchase for me. here are some points.

1) We always do deluxe and generally stay 7 nights. I don't compromise for a deal so if I'm staying on site, I'm staying at a deluxe resort.

2) Recent discounts are just that. recent. when we purchased, disney was not flinging 40% off codes like they do now. Will they continue? who knows but since I knew I was going to be vacationing at the mouse for the forseeable future, I came out ahead.

3) We did not have other needs at the time. If we needed a car, that would have been priority #1. We do not mix vacation funds with investment funds or emergency cash. So the argument "if you had put the money in XYZ, you'd have..." is not valid for us. we would not have ever placed the money in another investment vehicle. the money we used on our dvc, would have been blown on vacations. that's what it's there for.

4) we don't regret purchasing our dvc. we've had some awesome family vacations. We have mixed it up. we've taken friends and family with us. I've done girl trips, trips with dh only and trips by myself. all of which I would have never done without dvc. We have used our points in London, Manhattan and Washington DC.

5) Would I buy again at this time. probably not. not because its a time share but because I see Disney declining rapidly. If it continues on the path I believe its on now, I would go as much even if they were giving trips away. IMO, disney is turning into a glorified six flags.

 

[englishteacha]

I have siblings who own timeshares and they have, in the past, suggested we get one too. For us, it doesn't make financial sense to own a timeshare anywhere. As much as we love WDW, it's not the only place we want to travel. We don't mind staying offsite at WDW. We've rented 3 bedroom condos for $50/night! We can be entering the turnstiles of our favorite theme parks in about 40 minutes from leaving the condo (and that's on the long side of things...if we're early enough we can be at the park, parked the car, and IN the park in 25 minutes). I have no desire to ride Disney buses for an entire vacation. Our cost for a week's lodging at WDW is less than the cost of maintenance fees, and when you figure in the upfront cost to purchase into DVC, it doesn't make financial sense for us at all.

For someone who likes staying onsite and goes every single year to WDW, it might make sense if you look at the 30 year picture. But in 30 years, I hope to have traveled through Europe, seen most of the US, and been to the Caribbean. I can't do those things if I go to WDW every year!

 

[LoveBWVVBR]

I have to say I am VERY intrigued by this! I honestly know nothing about any time shares but am toying with the idea of a time share, not Disney. Excuse me while I duck

My advice is to go to www.tug2.com and do your research. Also, never buy retail...there are SO many timeshares available for pennies on the dollar. I paid under $1000 for my favorite Interval trade week and only $700 for that Wyndham contract that I mentioned. We get ~12 nights/year at Bonnet Creek in a 2 bedroom every year for a whopping $73/month in maintenance fees. If you like DVC, you can buy a cheapo trader (see post above) and even get that "change back" for other trades. I don't care to trade into DVC because I like Bonnet Creek better, but perhaps once we ditch the DVC points I might occasionally trade into DVC instead.

 

[Lisa loves Pooh]

We bought b/c we were "ok" with DVC and used to live in Florida and used Disney only as infrequent trips--so we could get what we needed for the short spurts and be okay with it.

It's okay money wise when it fits into your money situation. But as far as all the "Breaking even" stuff-we just chose to ignore that, b/c it wasn't about breaking even. It was about the type of Disney experience we wanted.

It took us about 11 years to get to that decision point though. It was something that I continued to covet and I convinced my husband to go for it.

Now I am glad that we have it. We have about 2 more years until we are in 2 BR's for quite a while due to family size. But we have never been a lengthy Disney vacationing family.

 

[Green Tea]

I own 500 points, paid cash for them in 3 separate contracts.

I regret it. 50 years is a long time to vacation in the same place. I have owned for about 14 years.

Membership used to have great perks that are now gone plus Disney has so many discount offers that DVC is not the deal it once was.

No matter how you run the numbers DVC is a frivolous purchase. If you are okay with that, go ahead. If you are second guessing or having to justify it, don't do it.

That is a great post.

We looked at it and anyway we twisted it, it was just not a good deal.

There is such an exciting world to see outside of Disney World. I am so glad we did not get stuck into a timeshare with really not very good trade options for other places.

 

[Amy5000]

I'm surprised at all the naysayers! We bought DVC. For me, I wanted a more "deluxe" on property experience but couldn't see myself shelling out the money that a more deluxe stay entails.

I don't regret purchasing it, but I'm not sure I would do the same today. We had more $$ when we purchased and less now.

I will say that if I were in your situation, and was leaning toward purchasing, I would consider purchasing a smaller contract. (We purchased a 100 pt contract resale). This could cover your 5 night stay and wouldn't push you into spending extra $$.

Also, if it's not important for you to stay "on property" I wouldn't even remotely consider purchasing DVC. Orlando has many places to stay with greater bang for your buck (but it's not disney 24/7).

Good luck.

Amy

 

[Disneefun]

We crunched the numbers every which way and it never worked for us. What it came down to were 3 things:

1. We do Disney a couple of times every year, for now, but there are also lots of other places we want to go. We didn't want to be locked into Disney forever.

2. Since the deed expired in like 42 years or something, that would have been just as our retirement/prime travel years were going strong (assuming we live that long). To not be able to use it then frankly PO'd me.

3. We didn't want to be locked into travel of any kind. If we lose our jobs, or gas goes sky high, one of us gets ill, or airfare goes through the roof, or any other of a hundred "disasters" happen that could affect our willingness or ability to travel, we didn't want to be stuck paying dues for something we can't use. And since timeshares are hard to get rid of, we didn't want to be stuck trying to sell and not being able to.

We do the best deal available and enjoy it just fine. When/if it gets to the point that the deals are no longer there or we feel like we're not able to get our money's worth, we'll simply go somewhere else.

 

[disneyofcourse]

5) Would I buy again at this time. probably not. not because its a time share but because I see Disney declining rapidly. If it continues on the path I believe its on now, I would go as much even if they were giving trips away. IMO, disney is turning into a glorified six flags.[/QUOTE]

This is one thing that really gets to me. It does seem like Disney is becoming a glorified six flags. That does concern me very much! It also seems like things are being taken away from DVC owners..more and more.. During some trips it does seem like things are being cut left and right that contribute to guest happiness and employee happiness.

 

[disneyofcourse]

I have to say I am VERY intrigued by this! I honestly know nothing about any time shares but am toying with the idea of a time share, not Disney. Excuse me while I duck

Same here! I'm going to read more about it. If you find any good links PM me if you have a chance. I could pay for the car and yearly vacations with the amount of money DVC costs.