I'm Scared...Convince Me That Joining DVC Is The Right Choice

[dvcdudes]

You must be my twin. I feel the same way. Each reason you noted, are the same for me.

TeresaNJ:
You said you were worried that if something came up you couldn't cancel. If something comes up and you can't make it one year because of expenses or whatever, you could rent your points for that year and this would offset your dues and payments for the year.
Just a thought.
I can't say I wish I did it sooner because we bought the day we heard about DVC. We have been to WDW a number of times over the years but we were always runing through the parks and never even heard of DVC. When my son got sick on our last trip, we were forced to slow down and signed up for the tour (free lunch) when we saw the DVC stand in the lobby. We bought that day and never had one regret. We just got back, last week, from our first trip to our home resort (BWV) and I am more sure than ever that we made one of the best decisions of my life.
The only thing I wish is that I would have heard about DVC sooner so that I could have been enjoying it sooner.


DVCDUDES
Owner BWV Feb 2000

 

[Jhalkias]

I had all the same feelings you had, and we kept going back to Disney every year. I also regret not buying sooner - but at the time we could not make the investment. We also wondered if our son (now 13) would grow tired of this vacation. Then last February we were blessed with a baby girl, and realized Disney was a part of our future for some time. As for those who criticize you, they are either jealous, or do not get Disney. We are going on a cruise in May, and spending time at VWL before and after - reservations were a snap, and I never felt so good about how I was staying at Disney. We bought at VB to save money, but I am already thinking of adding on at an on-site resort in the future.Good Luck, and looking forward to Welcoming you Home!

1996 Contemporary & Poly
1998 Yacht Club & WLodge
1999 Contemporary
2000 Dixie & Bch Club
2000 Wonder 3 Night
2001(May) Villas W Lodge
2001(May)Wonder 4 night

 

[BobBrazeal]

I took the DVC tour years ago when OKW was the only DVC resort open. I really liked what I saw but was just a bit too timid to jump in. If I had bought back then, it would have been paid for by now.

I'm in the process of closing on a resale at OKW right now. Not done yet but I'll let you know when. Now that I've finally come to my senses, I only wish I had done it back then!

 

[TheLionKing]

I don't think we "should" convince you....

You have to weigh the facts and make the decision on your own.

You should investigate the angst you feel about buying in. If I understood you, you are closing on a new house. New houses need possibly more furniture, little surprises pop up that need to be repaired. Maybe that thought is in your sub conscious?

Your nervousness is something you should not ignore. Yes it is a good deal, but prices will probably be stable for six months at least and if they are raising the price, they give fair warning, at least they did with the last price increase. That will give you time to settle in your new house and work out the bugs with that.

I would love to have you as a neighbor, but be comfortable with the decision

****************************
Past
DL multiple times
WDW '92, '96, '98, 2000

Future
Disneyana Conv 2001 at GC
DIS Convention 2001 at Y&B
OKW and BWV New Years 2002

 

[RamVA]

Teresa....You will not regret this decision! You are exactly the kind of person DVC was designed for! You will feel so happy, and "at home" each time you arrive for a vacation, it will more than make up for any "guilty" feelings you may have over spending the money. We bought when DVC was brand new, sight-unseen, no "Dis" board for support. But we had been twice, and I knew that this was a place that would always hold magic for me, and that I would miss if I couldn't get back. And I knew that as our children grew, and the "World" grew the cost would get too high for me to visit every year. And that is the "bottom line". As for what other people think, almost everyone I know thinks I'm crazy, and they just don't "get it"; who cares--they all go to the beach every year and I REALLY don't get that!! Each of my 3 children feel the same way I do--and my only regret is not getting more points when we paid $52.50 per, because we just don't have enough points to go as often as we want!!
Good luck--can't wait to welcome you home!

Ruthie
DVC'92

 

[DVCFAM]

Have you considered that the real estate tax portion of your dues is tax deductible? Also, I believe the loan interest is deductible since you would own a real estate interest.

 

[buck4568]

Well, lets do the math!
300 points at $72.00 per point right now is $21,600. Divide that by lets say 40 years, which is when the program ends ( give or take a year). That comes to $540.00 per year. Then you have your annual dues which should be about $1100.00 per year, depending on which resort you buy points at. Now for a grand total of $1640.00 per year you can plan several trips to WDW, or take a cruise or go to any one of the other many choices the DVC offers for vacations.

That sounds like a much better deal than going to WDW 2 or 3 times a year and spending $4000-$5000 or more. The greatest part is that if you dont use the points you can bank them to the upcoming year or if you do a big trip you can borrow them from the upcoming year.

It is truly a great way to vacation!

 

[TeresaNJ]

Let me clarify about the house we are settling on withought going into too much personal detail. I became separated from my first husband almost three years ago, and against my wishes, but without the will to fight or argue, my ex wanted to stay in the marital home. Therefore, I had to find somewhere in the same town to live so that my daughter could continue to go to the same school, as she would be living with me. My now new husband and I lease-purchased a home two years ago which we now have to settle on. My ex had three years from the date of our divorce settlement to either put the marital home up for sale, or buy me out. I really thought he would have done so by now, (two years) but he hasn't. So my new husband and I managed to save enough for the downpayment on the house we are now in, without using any of the money from my other home. As far as having "new home" expenses, we don't have those, as we've been living here two years already, the house will just finally be ours. The other situation is that we are going to probably owe a half- decent amount in income tax because we have nothing to deduct, as my ex will use the interest and real estate taxes to deduct from that house, as he is living there, and responsible for the payments. So what I am doing is waiting to see what we owe on taxes, will find out next week, and we go to settlement on the house March 28, and my real estate agent says it most likely will be a thousand less than what I've budgeted. So if it is, and we owe less on income taxes than I think we do, we should be able to buy into DVC also. I keep thinking we should wait awhile longer, but I really don't want to put out $3500 in October to stay at the Swan if I'm buying into DVC, and I'd hate to cancel that trip because the kids would be disappointed, plus I'm a firm believer in living for the moment, as you never know what's around the corner. It is for these reasons that I felt undecided. So I've made up my mind that if settlement is less than I've budgeted by at least a thousand, and if I owe less than a thousand on income tax, then I'm gonna go for DVC. The monthly payment isn't the problem, it's the down payment, and being nervous about the commitment that was holding me up. Thank you all for your advice, it has helped me greatly.

<font color=FF0066><font size=4><marquee><font face=Disney Print>"SPRING IS ALMOST HERE"</font></font></marquee></font>

<font color=green><font face=Disney Print>Polynesian 1985, 1990, GF 1992, BC 1995, 1997, BWI 1998, PO 1999, BWV 1999, WL 2000, OKW 2000, AKL May 2001, WDW SWAN Oct 2001, DIS CON. POR Nov 2001</font></font>

<center>

</center>

 

[Grotto]

One way to limit your initial upfront costs is to purchase the minimum number of points. You could then borrow your second year's points to have 300 to use on your initial trip. In the future, you can then add on contracts as often as you like to increase your total number of points. If any financial issues come up after your initial purchase, you can just delay the purchase of the add on contracts for awhile. I've also heard it's easier to sell smaller contracts through the resale market, so if you want to sell in the future, it might be easier to unload a few smaller contracts instead of one big one.

One danger would be if a resort were selling quickly (ie VWL), it might be sold out before you have a chance to buy all of the points that you want.

 

[normr]

The way I look at our DVC is not as a finacial investment but one for our personal and family well being. In the 4 years we've been members, we've already used our poins to go to London and Disneyland Paris with our kids.

Without DVC we would've never b een able to so something like that. My kids are in their early teens and already talk about how much they are going to love having the use of DVC with their future families and us, heck they've even hinted they would love to have DVC membership as a one-d ay wedding present.

We used to spend lots of money staying at different hotels on site and running non-stop from 8 AM to 10 PM at night, now with DVC, we've slowed the pace WAY back and we're enjoying our stays even more, I love just spending time in our "home" whreas you WOULD NEVER think of wanting to spend the day in your room at DL, (heck I could even enjoy doing my income taxes sitting out on my balcony at OKW and having an enjoyable lunch and beverage to go with it).

In fact that's such a nice thought, I might even start doing that next year, take 3-4 days just to relax and do my taxes there. Take on of the things I hate to do most in life and spend time doing it in the best place in the world. u

 

[PinMan]

go for it,it's you!after 10 years its gravy on the meat.

 

[BobH]

My family got involved with DVC because it allows us to take more vacations than we would take otherwise. This depends on the number of points you buy and your choice of accomodations. I think it is a better value with a shorter payback time if you finance as little as possible. If a home equity line is a possibility for you consider putting as much as you can on a credit card that gives you frequent flyer miles and then finance the purchase with your loan. This way you
work your way toward a free airline ticket for your first trip. Since you are closing on a home you could consider wrapping your Disney cost into your mortgage if possible. I am a great believer in Disney, but the bottom line is don't take on more debt than you can handle. Also, you need to consider that your break even point will be longer the more you borrow to belong to DVC.
I figure with no loans for my purchase it will take me about 5 years to feel like I have spent close to the amount of my original purchase (240 points) so that the rest of my trips are at a bargain price (afterannual dues are considered). In the meantime it is a way for the family to stabilize the cost of vacations and still keep our sanity while we are paying for 2 kids in college! As far as availibility of reservations a lot of people on this board seem to have no difficulty. You have to ask yourself whether paying $4000 - $6000 for a week at Disney currently and getting everything you want, is more valuable to you than paying an up front fee for DVC and getting 41 years of vacations at a more stable price - but with a little more uncertainty in your reservation availability. Some members will argue that the DVC system works just fine. Others will say they have had problems. I'll let you know how I found it in about 5 years. Life is a risk no matter what.Good Luck!

[This message was edited by BobH on 03-05-01 at 09:35 AM.]