I feel silly but need help

[Karrie Davis]

I have TOTALY over researched joining DVC. WHen we got back from Disney in September I knew we would join. Still know we will join.

I planed on waiting till September of this year because I thought I would use it as an insentive to really push my new photography biz. We are paying of debt and have our cars paid orr, most CC's and now working on little things.

SO F&F comes up - Now I feel like we should jump in, finance it for 3 years - most likely pay it off in half the time.

The truth is I want to have the extra years SSR offers but like the feel of a hotel. I like things to be closer. We stayed at the french q in september and loved how close we were to the pool & entrance. WOuld have prefered more space, even had to sleep in a seprate bed from DH because we can not be comfortable together in a double bed at all. Our 19 mt old slept in a P&P behind the curtain in the bathroom.

I don't want to cook on vacation but see the value of NOT buying breakfast each day for sure!

Loved Epcot! Loved eating there!! My son is almost 2 and I know MK is going to be his place for a few years for sure. And water parks or the pools. We also hope to add another baby in a few years. We are in our early 30's.

At SSR I will be 77 (dh 80) and my baby will be 58 before membership ends.... I can't even think about that at this point. Sure it would be nice to give it to my kids (or eaks, for my grandkids...)

SOB is cool, BWV is darn cool too & what is next??? Not sure if I will like staying at SSR unless we are right by the pool.

Not sure if we should buy or maybe just wait a year. Buy SR or buy a resale. I get scared that I am buying a resale that may loose value in 8-10 years... I wonder is SSR will ever resell well because there is so much availible. Will they split up the 150 pts into 2 contracts for us to start?

WOuld also like to eventualy (5 years) have enough points to go most years and then every 3 bring others with us.



HELP! Please.....

 

[AFMom]

Really can't help you with your choice of resorts.... that's just so personal. We bought OKw and SSR. Loved OKW, and will stay at SSR for the first time in December. We really liked having the extra years, and the pool area there was one of our kids' favorites when we pool hopped.
But just keep in mind - the current incentive is pretty good - significantly cheaper that normal cost. This incentive is ending Feb 1st, and I'm already hearing rumors that the price will be going up. You never can tell what will happen though! They may come out with an even better incentive.
If you need a referal - just PM me.

 

[Karrie Davis]

Maybe I just needed to type it all out because I know what I will do. Well, actually after typing away (this will sound silly to some but) I prayed about it and I am totaly clear - I am waiting to buy. I am not comfy with debt, that is just me. I know I will buy, just not because of a sale - no matter how good it may be. I am going with my heart, even though it is sad because I do want this right now... I will wait, the right thing will happen at the right time. I know we will be back at Disney this year and I will visit a few resorts - probably try and rent points and see what I really want

Even if it is higher I will be somuch more comfortable with my purchase because it will be paid off.

Let me say debt works in many places & I understand why we all do it - I just know I must go with my gut, I am too close to being debt free to add this right now.

 

[browniemtb]

If you are concerned about debt pay it off quick or don't do it. SSR has a great promo right now that end Feb 1st. I heard through this forum that points are probably going up to $101 a point after March 1st. This will bring the value of all the resorts up with it. You'll also read that most here wish they bought in sooner because of the deals and what they have missed over the years. I start looking at DVC in 2002...not sure of the cost back then but 4 years later we finally joined. Costs for the DVC are always going to increase so if you want to join and can do it now then do it. As you will also read, DVC does not make any fiscal sense what so ever but it is a great investment in your kids...they will always remember the WDW trips.
Brownie

 

[CarolA]

One of the things people keep saying about SSR is the extra 12 years that they could "leave" to their children.

Hmm... that's a big assumption. By the time you "leave" it to your family it will probably have very few years left so selling it might be a problem. So what you have "left" is an EXPENSE that they may or may not want or even be able to afford. If you want to have an inheritance plan on cash, but I don't think a timeshare makes a good inhertiance, even DVC.

I think that you have pointed out that you don't really want to stay at SSR and the ONLY benefit is the inheritance issue. So if that's not an issue would you buy there?

Also there is a VERY large risk that at some point the resales are going to go DOWN. At some point Disney is NOT going to aritifically pump up the value. If there are only 10 years left on the membership, Disney is not going to sell it fore $100 a point and down we go... So if you are scared of it losing value, it may not be for you. It's really only an investment in you and your family not in the monetary sense.

I love it, but I hope to live long enough to ride mine out and if I am still able to go to Disney I'll just get a hotel room then!

 

[vascubaguy]

I applaud your effort to become debt free. It is something I also strive to do (well, with the exception of my student loans and mortgage). I'm one of those that uses credit, and use it to the fullest extent. I love those 0% offers.

Ok, now for your situation... let me first start by answering your question about splitting up points. Answer: No. They will not split your initial purchase of 150 points into multiple contracts, it must be 1 full contract of 150 points. After that, you can buy in smaller amounts later.

For the financing situation, again, I agree that becoming debt free should be a primary goal. That said, you could buy-in now and instead of financing for 3 years, finance for 10 years (the rate is the same and there is no prepayment penalty). So, for the first year you can pay close to the minimum on DVC and pay off all of the other debt, then focus on DVC and get that paid off soon thereafter. Meanwhile, you can use the interest you pay on the DVC loan to deduct from your federal taxes. Just one other thing to consider are the monthly dues, those you can have drawn each month and on 150 pts, it isn't much.

As for which resort, I purchased SSR because of the cost AND the extra years. I'm not looking at it for leaving to anyone, I fully intend to use it until the contract expires, or I do (I'll be 77). I don't really care which resort I stay at, but I do like the BW and Epcot area. However, I would not be disappointed staying at SSR or OKW. SSR, OKW, and BWV (std rooms) are the "cheapest" on points to stay, so I'm all for maximizing the use of my points!

SOB is a great pool/water park... however, many folks will tell you that their kids love the pool at SSR just as well (if not better). Not to mention, as your kids grow up, they'll probably like the proximity to DTD.

Just some thoughts.

 

[cobbler]

Congrats on your decision to get the debt gone first. I think that is wise. That is what we did before we bought. The only debt I have now is the mortgage and well honestly I figure I will always be in debt for a house, most people are.

And again, you are right, the right thing will come at the right time when you are ready.