Interested in learning about resale..

[Ccann]

So where does one come to learn about the ins and outs of buying DVC? The Dis...

I am completely new to this, the only thing I know is it is cheaper to buy from an individual then DVC Club. Is that true?

I really want to buy DVC points and my plan is to visit Disney often.. what advice can you give this newbie?

Where should I go looking for contracts?

Would two differently families be able to go in on one contract? Or better to split to 2 small contracts?

Thank you for taking the time to respond.

 

[disneynutz]

My advice is that you spend time reading the various posts here on the DIS, your questions are asked often. You will get a good feel of how the DVC works, the pluses and minuses.

Good luck and have fun!

Bill

 

[blessed2BaMama]

My advise is that you spend time reading the various posts here on the DIS, your questions are asked often. You will get a good feel of how the DVC works, the pluses and minuses.

Good luck and have fun!

Bill

Bill is so right, most of us started in the same way and can and have shared our experiences on this board. Look at the big resale companies, DVC by Resale, resales dvc, Fidelity and Timeshare Store and also read, read read the posts on this board, going back pages and pages!!! ! I wish I had fully understood the difficulty of a September UY when looking for resale contracts before I bought one with a Sept UY...that, ans so much more, I learned here from my brilliant, helpful and more experienced friends!!

 

[Sandisw]

There is a lot of information here and you can get an idea of what types of contracts are currently available and price by looking at the main DVC resale brokers--there is a link at the top to The Timeshare store to give you can idea.

Things to think about and learn that I think are important:

1. Understand the product and what you are and are not buying--you are buying the right to reserve your home resort as well as any other resort that remains part of the DVC club--nothing more, nothing less--perks come and go.

2. Resale points purchased after March, 2011, have restrictions on them in terms of some other non-DVC options, such as the Disney cruise, etc. While most of us find that using points for those options doesn't give the same value as using for DVC, only direct points will allow for those options.

3. UY--if you travel at specific times of the year, it can be good to have a UY that starts just before your typical travel times as it allows for more flexibility if you have to cancel or change a trip at least 31 days out--less than that and there are other rules. No one UY will be good for all times of travel but if you know there are certain patterns you plan to continue, considering certain UY is a good idea.

4. Choose a home resort that you at least will enjoy staying. Many of us buy where we like staying since booking others is getting harder and harder.

5. Understand the booking window for reservations as DVC works better for those planning well in advance. Short term books--ie: a few months--is not easy with DVC.

6. DVC busy times don't necessarily coordinate with parks busy times. October through mid-January is very DVC busy and most book 11 months in advance. Hit the 5 - 7 month mark for those times and its going to be tough finding much.

7. Ask a lot of questions, no matter how small!!

Good luck!

 

[Deb & Bill]

It's a timeshare. If you decide to purchase with another person, should something happen financiallly to that person, the timeshare becomes property that they might lose (and you). It's better to start smaller (and more affordable) than go in with someone else.

Plus as much as you see about using DVC for cruises, vacations all over the world, it really works best to use DVC for DVC. If you aren't planning on visiting WDW annually (every other year at a minimum), it might not be a good purchase for you.

Also, if you look for sales, discounts, bargains in your vacations, DVC isn't those at all. You'll never get free dining with a DVC points stay. You'll never get "book four nights get three nights free" with DVC points stays. You won't get free park admission for kids with DVC. If you regularly stay in value resorts or offsite, DVC will wind up costing you more.

 

[timandjanl]

Bill is so right, most of us started in the same way and can and have shared our experiences on this board. Look at the big resale companies DVC By Resale, www.***************, Fidelity and Timeshare Store and also read, read read the posts on this board, going back pages and pages!!! ! I wish I had fully understood the difficulty of a September UY when looking for resale contracts before I bought one with a Sept UY...that, ans so much more, I learned here from my brilliant, helpful and more experienced friends!!

What do you mean by "difficulty of a September UY?"

 

[chalee94]

What do you mean by "difficulty of a September UY?"

If you travel mainly in the summer, a Sep UY puts you at extra risk of losing pts if you need to cancel.

If you travel in the fall (and never in June, July and Aug), then a Sep UY is perfect.

 

[timandjanl]

If you travel mainly in the summer, a Sep UY puts you at extra risk of losing pts if you need to cancel.

If you travel in the fall (and never in June, July and Aug), then a Sep UY is perfect.

I understand that. I am waiting on ROFR on a contract with a sept use yr so that comment worried me. But we travel in the fall so we should be fine.

 

[Nabas]

So where does one come to learn about the ins and outs of buying DVC? The Dis...

Start here:

http://www.mousesavers.com/other-disney-vacations/disney-vacation-club/

 

[Nabas]

I am completely new to this, the only thing I know is it is cheaper to buy from an individual then DVC Club. Is that true?

Buying from an individual is commonly called a "resale". It's definitely less expensive. For example, the direct price from Disney for Animal Kingdom Villas (AKV) is (with incentives) is about $130-$140 per point. Via resale, it's about $70-$80 per point. Typically, you'll need between 100 to 200 points, depending on how you vacation.

It's similar to any real estate transaction and there usually is a broker acting as an intermediary. They typically receive a commission paid by the seller. Typically, the buyer pays closing costs, usually in the range of about $400-$600.

I really want to buy DVC points and my plan is to visit Disney often.. what advice can you give this newbie?

Make sure you learn all you can before buying. Resales appear on the market all the time and prices are high right now. Take the time to understand what you are getting yourself into.

Understand the financial aspects and make sure you can afford it. Some DVC members get foreclosed on because they got in over their heads.

Where should I go looking for contracts?

I suggest searching the internet for "DVC resales".

Would two differently families be able to go in on one contract? Or better to split to 2 small contracts?

Yes, a DVC membership can have more than one owner. Most financial advisers I know say it's a bad idea for two families to share joint ownership of anything.

 

[JaneSparrow]

www.dvcnews.com has good information too. Good luck!

 

[Ccann]

THANK YOU for the links and suggestions on where to start frist. I know I could search my questions, but if I did that with out some direction I would be so overwhelmed with all the posts.

I am compiling my questions as I know there will be a DVC talk aboard our cruise in December. But I have a good start to weigh in on the pros and cons of buying points/ time share.

Thanks again

 

[DannysMom]

Look through the FAQs on the big resale brokers sites, here is The Timeshare Store's FAQ: http://www.dvc-resales.com/faq.htm

Sent from my iPad using DISBoards App, please excuse any typos or autocorrects!

 

[JaneSparrow]

We purchased direct for the first time in 2010 at BLT just because there's not a lot of resale for that resort which was new then.

If we add points it will be resale unless its for a new DVC resort again. Didn't have funds to add on at GFV so hopefully we will have money to spare for Poly DVC

 

[Deb & Bill]

THANK YOU for the links and suggestions on where to start frist. I know I could search my questions, but if I did that with out some direction I would be so overwhelmed with all the posts.

I am compiling my questions as I know there will be a DVC talk aboard our cruise in December. But I have a good start to weigh in on the pros and cons of buying points/ time share.

Thanks again

You will want to remember that on board the cruise, you will only hear the direct purchase side of the discussion. Sometimes resale makes more sense. Weigh your purchase decision carefully.

 

[Ccann]

We purchased direct for the first time in 2010 at BLT just because there's not a lot of resale for that resort which was new then.

If we add points it will be resale unless its for a new DVC resort again. Didn't have funds to add on at GFV so hopefully we will have money to spare for Poly DVC

So please correct me if I am wrong. If I buy two contracts lets say 100 AKV and 100 BC I then would have two home resorts? Would all of my points be able to be used at either place or will some lose their value? Does that make sense.

While I want to stay in lots of places I love the deluxe and my kids favor AKL a lot..

 

[disneynutz]

So please correct me if I am wrong. If I buy two contracts lets say 100 AKV and 100 BC I then would have two home resorts? Would all of my points be able to be used at either place or will some lose their value? Does that make sense.

While I want to stay in lots of places I love the deluxe and my kids favor AKL a lot..

For 11 month bookings, only BCV points can be used at BCV, same with BLT. At 7 months the points from both resorts can be combined to book at any resort.

Bill

 

[Ccann]

For 11 month bookings, only BCV points can be used at BCV, same with BLT. At 7 months the points from both resorts can be combined to book at any resort.

Bill

So for a December trip in order to use both set of points together I have to wait to book in June? Could I book in January and then add days to my reservation in June with the other points? I am getting ahead of myself but... This would factor greatly on what I will do or don't do.

Thanks

 

[Dean]

My advice is that you spend time reading the various posts here on the DIS, your questions are asked often. You will get a good feel of how the DVC works, the pluses and minuses.

Good luck and have fun!

Bill

IMO it takes about 6 months of active investigation to gather enough info to make an informed decision.

Start here:

http://www.mousesavers.com/other-disney-vacations/disney-vacation-club/

I think the article is decent as far as it goes. Any math evaluation leaves out what are likely the 2 most important issues, that of the psychology of the timeshare and that of risk. For example, the article compares a moderate to a DVC studio. Ultimately most people don't end up consistently using studios so the article gives you best case scenarios only.

 

[disneynutz]

So for a December trip in order to use both set of points together I have to wait to book in June? Could I book in January and then add days to my reservation in June with the other points? I am getting ahead of myself but... This would factor greatly on what I will do or don't do.

Thanks

Yes you can do that if there is availability in June.

My advice is to buy enough points to stay at your favorite resorts every other year, bank your points to double them up.

Buy a MK resort, a Epcot/DHS resort and if you love AK, buy at AKV. Each vacation focus on one park and stay close by.

Another suggestion, stay at all of the resorts before spending thousands and finding out that the resort you bought isn't where you want to stay.

DVC is a 30 to 50 year purchase, what you don't do or see today, you can do it next vacation. Disney isn't going anywhere.

Bill