How long before you bought?

[3girlsfun]

I have had DVC in the back of my mind since I first started planning our first family trip to Disney World. I have gone back and forth on if this is something I think I would like to pursue or not.

I am back to the "I want to pursue this" frame of mind.

I am now getting serious about doing the research, and working towards moving forward with this once I complete the research.

How long from when you were originally interested to when you actually purchased?

Did you save up the money, or did you finance? I feel like if I worked really hard at it, we could save up the money in 1 year to purchase and pay cash, or at least pay half depending on how many points we purchased.

I know this is all very personal and depends on your situation, but, I thought this might give me a basis to start from.

Thank you in advance!

 

[chalee94]

i was probably lurking on the DVC boards for 6 months or so before i bought in. very useful to see what owners complained about and what worked and didn't work for them.

i also spent some time on TUG to learn about other timeshares. DVC was much easier to get information on, IMO.

i bought a small DVC contract so i could pay cash. i eventually bought another timeshare for trading outside of wdw.

definitely ask any questions you like, but here is some research material to get you started if you are considering buying:

here is a link to a basic DVC FAQ.

here is another FAQ

here are some general information you might find interesting:

is DVC for me?

here is a thread for more info about choosing a home resort.

here is a link to historical annual dues per point for the different DVC resorts.

and if you are ready for slightly more advanced information:

here is a thread for understanding use year.

for pricing/buying information:

here is a thread for understanding the general differences between buying resale and direct.

here is (usually accurate) current pricing for contracts purchased directly.

there is a link above for resale listings.

 

[rpk1951]

I looked on and off for 4-5 years softly. I looked hard for over a year. I bought when I had the cash. I am a detailed planner according to my wife and analyze things in probably to great a detail level.

 

[3girlsfun]

I will definitely look into the links, thank you so much! It is definitely something I am going to be considering.

It sounds like from the comments, that is is a very well researched out decision, so that makes me feel good about taking the time to really research it out. Thank you!

 

[Thumper4me]

I purchased approximately one year from taking the tour. I paid cash for most of it and used my home equity line for the remaining. It took some time to consider all the finances as well as travel habits. However, I couldn't be happier with my decision to purchase.

Good luck with your research.

Kelly

 

[cvjw]

We had toyed with the idea for years, but really started seriously discussing it last summer. We bought resale in under a month from when we got serious about DVC. We paid cash for all of our points, I would not have purchased if we couldn't pay cash. We thought we understood the DVC very well before we purchased. We knew about the extra costs of maintenance fees every year, but what we didn't factor in is the "other" expenses. Now that we have DVC, our yearly 9 night trip has turned into a 14 night trip and a 9 night trip. We have to buy AP's now - more money. When you go to Disney for 3 weeks a year, you need alot more money for food and extras in the parks.

 

[DenLo]

We toyed with the idea of buying into the DVC since 1996. But never really took it seriously as when we called when we returned home we found that Disney could not do phone purchases for residents of Colorado. We never checked to see if that had changed. Never really thought about it seriously after that and then we moved to Texas. First trip back to WDW after the move was in April 2009. Our interest started perking up, DH listened to a Kiosk CM talking to another customer while he was waiting in line at the concierge desk. We talked about it a little but I didn't want to spend our precious vacation time visiting a "timeshare" presentation. Boy was I wrong about that one. When we returned home, I started researching on the internet. Requested some information be sent us and next thing we know the DVC was calling asking us if we wanted to speak to a guide or should they just mail everything to us. Our guide gave us the basics confirming what we had learned and then emailed us more detailed information. We reviewed everything called our guide a couple of times with questions. He never called us and that impressed us as we didn't feel pressured to buy. After a couple of weeks we decided to buy and used money we had been saving for future cruises/vacations.

 

[Disneypubgal]

I didn't waste any time buying... was a cast member when I bought contracts 1-4 and got a great deal!! bought 5th and final contract last year... I paid 1/2 in cash each time and financed the balance... all are paid off now... Had I known I was going to add on so many times I would have bought 5 smaller contracts at the beginning instead of 5 small ones over time...

 

[ChiSoxKeith]

I had heard of DVC for a while - I remember seeing the booths scattered through the parks on a family trip in 2005. Then in 2006 when it was an anniversary trip with the DW, I really wanted to go on one of the tours but DW wasn't very interested. We usually stay on a monorail resort and back then BLT wasn't around so it went on the back burner.

Then this spring I sort of came into a bit of money (freelance gigs) that was unexpected. Took DW up to the Doorway to Dreams DVC retail location at woodfield mall and she was hooked.

We bought 160 points BLT that day and bought 165 Aulani points the first day that they started selling it.

I think we are done for now.

 

[3boys Disdad]

I hadn't been to WDW in almost 30 years since I was a kid. But when I first heard of the DVC my oldest (twins) were turning 5 and I just knew that we'd want to go many times as a family. I thought it would be a waste for our first visit NOT to be as a member, so I took the deal selling the 1st year back for a $10 pp discount and borrowed the next years points for our first trip.

I don't look at the initial investment as a cost. The price per point has gone up enough that I could at least break even if I sold. It's an asset. So it comes down to the dues, and what I pay in dues is cheap compared to what we get for a vacation each year. I love the DVC.

 

[lebeau]

I started considering DVC in 2003 and rather quickly decided it wasn't for me. The buy-in was too large. I felt it would be an irresponsible investment when we were just starting a family.

Every now and then, I'd pick up the thread of the idea. But I quickly dismissed it every time.

Just recently (about a week ago) I saw some DVCers complaining about dropping re-sale values. This got me to thinking... "I should check out the resales." The prices were indeed lower than I had seen. But that's not what got me thinking about DVC again.

I saw contracts for 50 points (or less). Suddenly, it dawned on me that I could buy in for around 4-5K rather than 16-20K. That didn't seem so irresponisble at all.

I'm in early research mode right now and I'm going back and forth. I'm wondering if it would be easier and more cost effective just to rent other people's points when I want to take a trip.

What specifically got me wondering about renting over buying is that my wife is interested in staying at HHI. I don't really want HHI as our home resort, but I understand it could be difficult to get HHI when school is out during the 7-month window. Adding to the difficulty, with only 50 points I will be limited to a deluxe studio which may or may not be available.

Like I said, I'm in early research mode right now. I don't expect to take any trips at all until 2012. And I don't expect to go back to WDW until 2014. So that gives me lots of time to explore options.

 

[VrBchJ]

I rented 6 times over three years from a wonderful DIS member. He finally said I was wasting my money by giving it to him instead of purchasing my own points. A light went off and I knew he was right. I bought 150 BWV points from Timeshare Store. I've since added on BWV points and at BLT all direct from Disney. They make it so easy and I wanted the same UY for all my contracts. I suppose I'll get tired and bored with DVC and Disney someday but showing no signs of it yet.

 

[snorris49]

We've been thinking about it for a while. Been going to WDW every year, at least once for the past 8 years. We have friends who have DVC and kept recommending it to us. Finally, we did a DVC tour in February and almost bought then, but thought the 160 points and cost were just too much for what we had saved up. Finally, a few weeks ago, I called again to see what promotions were out there. Was able to purchase BLT at 100 points. This was a better option for us, financially, since we want it paid off fairly quickly. We did do some financing through Disney. We decided that if we pay on top of our monthly payment towards the principal, this would get it paid off significantly faster than what we financed for. For me, I felt more comfortable with this option than doing resale. But, it's all a personal decision.

I plan on adding more points once we get our original contract paid off. Hopefully, within the next year.
And then, let the addonitis begin!

 

[Sandisw]

We considered buying for years and went back and forth. We knew we loved being at the CR resort and were just not sure we would enjoy the DVC resorts that were available at the time.

We said that if DVC ever came to the CR location, then we would really consider it. Well, that happened in 2008 when BLT was announced. We really started researching things when it went on sale in the fall and then ended up buying in the winter of 2009.

We did start out going the resale route with a small VWL contract, not thinking it would be a huge deal and would eventually add on at BLT. However, once I owned, I knew that I really just wanted BLT so that I could take advantage of the home resort booking window. Where we stay is our #1 priority for trips so this became really important. We added on within a week of closing on the resale contract. Within 2 months, I realized I just wanted everything at BLT so I sold the VWL contract and bought the points at BLT-now, I own all 180 there.

What I learned is that if you really know there is a resort you want to stay at a lot, buy there. If you are someone who is fine staying at many of them, then definitely investigate some of the great resales that are out there.

Good luck!!!

 

[chalee94]

I'm in early research mode right now and I'm going back and forth. I'm wondering if it would be easier and more cost effective just to rent other people's points when I want to take a trip.

over the course of 20-30 years, it's generally cheaper to buy in.

but if you are not sure about making a long-term commitment and don't mind a little bit of a loss of control, renting is a terrific option. starting by renting a time or 2 is a good plan, IMO.

 

[lebeau]

over the course of 20-30 years, it's generally cheaper to buy in.

but if you are not sure about making a long-term commitment and don't mind a little bit of a loss of control, renting is a terrific option. starting by renting a time or 2 is a good plan, IMO.

Well, the loss of control is the thing, isn't it?

On the one hand, buying puts you in the driver's seat. But it also limits you. when you rent, you're more in control of when you go and where you stay. You just have to let someone else do the driving and hope they don't wreck.

It's possible we'll rent a couple times and mull it over.

One thing's for sure, I'll over-analyze this decision for a long, long time.

 

[disneynutz]

We took two years, researching and visiting or staying the different DVC resorts. After picking BCV as our favorite, and buying there first, we have stayed at all of the DVC resorts several times.

Even after all of our research, BWV Boardwalk View is now our current favorite.

Bill

 

[Goofy DVC]

We were in WDW in February, 1991 and got upgraded to the Yacht Club for 2 nights from a moderate. One morning my wife noticed a card slid under the door with some general info about DVC. In February, 1993 we were talking about the possibility of a beach house but we didn't want to spend that much $$ and take on a mortgage. Somehow my DW had that card from two years before. We called the 800 # , got some info, watched the VHS movie and two weeks later we were members site unseen. About six mounths after did a 30 point add on and the rest is memories. Best move we ever made!

 

[godalejunior]

We had always seen the kiosk at the DL Hotel during our first few trips with DS to DL. It was not until 2007'ish when DH and I took an alone trip and stayed at GC that we seriously started considering it. DH actually took the GCV tour and DVC was marketing BLT pretty hard....got a $100 gift card for a 45 minute tour. At that time, you had to buy in at 160 points and with the point chart for GCV, that really does not go far.

So, fast forward a few months ago.........we finally had the money to buy a travel trailer. DH came out of the blue and said he did not want to go camping, didn't like camping and did not want a travel trailer. The travel trailer was "our deal" in building his garage-mahal....once it was done the travel trailer would happen (assuming we had the money to pay for it in full).

So after going round and round and figuring a stupid trailer was not worth the fuss.....I told him I wanted DVC at GCV. We have gone to DL 11 times in 4 years and the last several trips we stay at GC.

So...started researching resales and purchased 200 points through TSS and then just did an add on of 75 points through Disney direct. We got a screaming deal on our resale and could not be happier.


Also, am very happy to have saved the money and paid cash for DVC so all we have to worry about is dues and passes.

 

[Dee77]

DH and I are the opposite end of the spectrum since we bought at the end of our first vacation to Disney World. His parents and sister are all members but did not really know all the ins and outs so we met with the guide and bought right then and there. Over the next few weeks I researched like heck (thanks to the disboards) and actually know more about DVC then my in-laws. Was it an impulse buy, absolutely! Do we have any regrets about buying DVC, not at all.

We financed both contracts, (we did a fast add-on within 2 months before the BLT prices went up in Jan 2009.) We said we want the initial contract paid off by summer 2010 and are actually going to have it paid off before then.

Good luck with your decision!