Info on actually buying into DVC

[SweetPeasMom2]

So, I've been thinking this might be something I'd like to look into in the future. Can someone give me the low down? My knowledge of timeshares is that you can only use them on X week during Y month. I'm thinking it's a bit different with DVC and you get your points on X week during Y month but you can vacation with those points at any time?

Also, when I went and looked at the resale list, there was a wide range of listing prices. How is pricing based?

We aren't buying a particular unit are we? Just buying into a specific resort, although you can stay at any of them, correct?

Anything else?

 

[Donald is #1]

OK let's see how many of your questions that I can answer.

1) DVC is a points based system. You purchase x number of points for a fee. You get these x points every year. Your points will have a Use Year (UY) associated with them. This month is basically the time of the year when your points expire and you get new points. For example, I have an August UY. So my 2007 points are good from Aug 1, 2007 until July 31, 2008. They expire on July 31 and then on August 1st 2008 I get my 2008 points.

2) Basically, there is a chart for each resort and that charts specifies the point value for each size/view of accomodation for each day of the year. You can use your points anyway you want. For example, let's say that you have 160 points. You can spread those points out any way you want for any size accomodation. Maybe the first year, you decide that you only want a studio so you decide to use them for 1 week in a studio. Then the next year, you want a 1 bedroom. Then you use the 160 points for let's say 4 days in a 1 bedroom.

3) It is hard to determine how resale pricing works. Basically, smaller contracts tend to cost more per point than larger contracts because smaller contracts are more popular. Also, some resorts cost more than others. Finally some contracts have all their points and some are "stripped" of points (i.e. the current owner used all of this years points plus borrowed next years points). A stripped contract is usually cheaper than a contract with all of its points. Also be aware, that on every resale contract, Disney has the right of first refusal (ROFR). This means that after you agree on a price, Disney has the right to buy the contract for the price that you agreed to.

4) Your deed will actually list a particular unit. However, you may never stay in it. Bascially, you reserve a room at a particular resort of a particular size/view. Then when you check-in, you will be given a room that matches the criteria that you booked.

 

[Grandbuddy]

So, I've been thinking this might be something I'd like to look into in the future. Can someone give me the low down? My knowledge of timeshares is that you can only use them on X week during Y month. I'm thinking it's a bit different with DVC and you get your points on X week during Y month but you can vacation with those points at any time?

Also, when I went and looked at the resale list, there was a wide range of listing prices. How is pricing based?

We aren't buying a particular unit are we? Just buying into a specific resort, although you can stay at any of them, correct?

Anything else?

The Disney website has a DVC section, with lots of information about the various resorts, including virtual tours of some. You can order a DVD from that site, which gives you lots of information you will need to make a decision as to whether DVC will work for you. Lurking (going from thread to thread reading questions and replies) on these boards will also give you lots of insight into the workings of DVC. Good luck. I'm thinking you'll like the things you learn. I really started looking at these threads thinking I would find reasons I would not like DVC ownership.... It didn't work out that way, as I have a contract in place, now, "waiting for ROFR."