Is a DVC membership as amazing as it seems

[ELMC]

I don't think anyone here was bashing the product. The reason we talk about money is simple: there are ways to buy and use DVC that won't save you money at all, ways to buy and use it that'll save a little money, and there are ways to buy and use it that will save you a LOT more money.

The reason I don't use my points for things like cruises and exchanges is this: I can get those things for less money by NOT using my points. And then I can use that money I saved for other things, like extra fun on vacation, or even on more vacations.

This is the kind of thinking that I can't get away from when the time comes to actually use my points. We have enough points to stay in a Grand Villa if we wanted to. But we really only need a 1BR. So while some look at it and say "it's only points" or "they're paid for already", I immediately break out my calculator to figure out how many extra points it is between the GV and the 1BR. I then multiply that number by the $15 I could rent those points out for and ask myself if I'd rather have the big room or the money. So far it's come out to be money every time. Will I splurge once for the GV? Maybe. But I'll still engage in the same analysis before doing so.

 

[Dean]

Thank you! So if I added on from the same resort, I could then use all of the points at once?

Potentially. You'd have to get them under one master and to do that, you'd need to make sure they were titled the same way and the same UY. For different home resorts you could only combine the points at 7 months out.

 

[kboo]

It is also a very large capital investment. People for whom $10k+ is just a rounding error tend to be trustafarians or people who have gotten to that point by being savvy money managers. People for whom that isn't a rounding error tend to examine the capital investment pretty seriously. People who don't examine that from a financial perspective really should strongly consider doing so.

And the people who got the the point where $10k is a rounding error by being savvy money managers aren't going to stop being savvy money managers. The point is implicit in your comment, but just to amplify - even people who can afford DVC and aren't stretching for what they bought, still ought to at least consider the financial perspective.

This is the kind of thinking that I can't get away from when the time comes to actually use my points. We have enough points to stay in a Grand Villa if we wanted to. But we really only need a 1BR. So while some look at it and say "it's only points" or "they're paid for already", I immediately break out my calculator to figure out how many extra points it is between the GV and the 1BR. I then multiply that number by the $15 I could rent those points out for and ask myself if I'd rather have the big room or the money. So far it's come out to be money every time. Will I splurge once for the GV? Maybe. But I'll still engage in the same analysis before doing so.

I can't even think about renting my points (granted, I'm a new owner)! For me, the calculus is - what if we could take another trip down? We'll almost certainly go over Xmas which we would never have considered because of the cost (for a cash reservation). And even though we could stay in studios, the thought of a 1BR or a 2BR is mighty nice. I have a feeling that after another stay in the EP area next month, DH is going to want a contract there too. We won't be saving money in absolute terms over what we'd spend paying cash, because we'd be in deluxe hotel rooms all the time. But we would be saving on the cost of a comparable room, whether it's a studio more frequently or a 1-2BR less often.

 

[ELMC]

And the people who got the the point where $10k is a rounding error by being savvy money managers aren't going to stop being savvy money managers. The point is implicit in your comment, but just to amplify - even people who can afford DVC and aren't stretching for what they bought, still ought to at least consider the financial perspective.

Exactly. Throwing money away just because you can is foolish. There's a statistic out there that says that 70% of lottery winners file for bankruptcy at some point in the future. Why do you think that is?

I can't even think about renting my points (granted, I'm a new owner)! For me, the calculus is - what if we could take another trip down? We'll almost certainly go over Xmas which we would never have considered because of the cost (for a cash reservation). And even though we could stay in studios, the thought of a 1BR or a 2BR is mighty nice. I have a feeling that after another stay in the EP area next month, DH is going to want a contract there too. We won't be saving money in absolute terms over what we'd spend paying cash, because we'd be in deluxe hotel rooms all the time. But we would be saving on the cost of a comparable room, whether it's a studio more frequently or a 1-2BR less often.

Yes, I suppose that future trips are a consideration as well. We bought DVC so that we could use it. But every time I go to use it I think about the possibility of renting the points instead and taking the $15 cash. Obviously I don't do that because then we'd never go on vacation, but it is a consideration when I consider what room type to book and what resorts we choose to stay at.

But your point is a valid one. Try to book a DVC studio through CRO and you'll pay between $400-$600. The same studio could be had for between 15 and 20 points. The value is clear, and it allows people to vacation at times and in ways that they would otherwise not be able to.

 

[ScubaCat]

And... Come September, only a 15 minute drive over to Volcano Bay from our villa!

A nice perk indeed!

 

[Wakey]

I have read through all these replies, most with some admiration at the excellent advice they would give the newbie researching the matter with 'pixie dust' in their eyes. I totally agree with the majority: 1) If you go to WDW regularly, at least every 2 years, and want to stay in Deluxe, it will save you money (albeit a lot more if you buy resale. 2) If that fits you it is a fantastic product, not least (again if you buy resale) it is one of the only timeshares that holds and has increased in value. 3) There is a 'reality distortion field' (love that) around it- you only have to look on the DVC Neighbourhood Facebook page to see this in abundance. And consider the names given- 'Membership' , 'Guides' (for commissioned timeshare salespeople etc. This is a cold, hard way to make Disney lots of cash with very clever marketing. Most people do not seem to get that, they don't even realise the perks are marketing for example. 4) Know what you are getting into and learn it inside out before buying- as someone said you should have the need first, rather than seeing it and making an impulse purchase. Unfortunately many do just that, and then they are the ones who complain.

 

[longboard55]

If you buy a resale the fact they hold their value is the game changer. That means it is not a lifetime purchase, if things change in a few years you can get your money back. You might lose a little in fees but its not something you will be stuck with.

Resorts cost a lot of money to build, I really never see a day when the market is over saturated with units.

 

[michelleiada]

I love my DVC. I have no regrets except that I wish we had purchased sooner. That said, I paid cash for both of my contracts and they have already paid for themselves. We have made countless family memories that we will always cherish. We have taken family members that would have never been able to afford to stay at a deluxe resort, and some would not be able to afford a Disney Vacation at all had we not taken them. Purchasing DVC has been everything and more than we anticipated it would be. I always have my magical place to look forward to.

 

[brookmey]

We became owners at SSR when our oldest was diagnosed with high functioning autism a year ago. We've made yearly trips since she was 5 (she's 13 now) so Disney World is very familiar to her. She knows which restaurants she likes and what attractions. She knows how to use the various forms of transportation to get around. FP+ has been a huge success for us since now she knows when she's going on her favorite attractions. There's no more anxiety over whether it's going to happen or not. Scheduling ADRs in advance works to our advantage, too because she knows when she's going to eat at her favorite restaurants.

Plus, she has to have her own sleeping space. She cannot share a bed with anyone. When she was younger we'd get a standard resort room and set up an air mattress on the floor for her. That worked great. But as she's gotten older, she's having a harder time sleeping on the air mattress. That means getting 2 rooms or looking into bigger accommodations, which led us to DVC.

For us, being members has been "amazing" because we would be visiting yearly anyway due to DD's autism. We can get a 1 or 2 bedroom so everyone gets their own bed. We have a kitchen to use as a backup if DD can't find anything she'll eat in restaurants. If she's had enough at a park, we're comfortable letting her go back to the room on her own so DH, DS and I can stay at a park. So, for us, it's not all about the cost or whether or not being DVC owners is saving us money. For us it's the non-tangibles that have made our purchase worth every penny. We're seriously thinking about buying points at CCV so we'd have another home resort. I have no regrets over our decision and know without a doubt that it is the best thing for our family.

 

[AdamsMum]

I think DVC is amazing for me. I purchased a small BWV resale first, then have added on both direct and resale. I love the location of Boardwalk, but I would never pay Disney what they charge for it, even with a 25% discount. Buying DVC allows me to stay exactly where I want to for an affordable price. Small contracts allowed me to build up my ownership while not getting into debt.

There are costs though. There were a couple of years when the kids were in university that the maintenance fees were a stretch. I ended up selling my small contract at BLT for more than I paid. After closing costs I basically got what I paid for it a few years earlier, so not a bad deal.

Then there are the "enhancements" to our membership, like taking away free valet parking and giving us free in room internet, which they proceeded to give to everyone on site shortly thereafter. Don't buy for the perks, unless you want an annual pass.

Keep in mind that it is a timeshare, some of the resorts are aging, and although the maintenance has gone up usually less than 5% a year, it can increase as much as 15%.

Circumstances change. My kids are no longer usually available to go with me and my marriage broke up so no partner to come with me. I have travelled solo (Food and Wine Festival) and with friends for the past couple of years, and I still love it. But then, I'm a bit of a dis freak.