Is DVC Budget Board approved?

[andrews_dad]

Just a counter-point ... mosy DVC club owners pay a hefty up-front fee and annual dues near the $1000 mark. www.homeaway.com has tons of full house rentals within 10 minutes of Diz World for less than $800 per week, some much less. Even if you add on rental car, $14 a day parking, and subtract the AP discount etc....

If you really want the Diz magic to have the resort, then go for it. If you need space for a bigger family and the condo life appeals to you but the resort itself is not the draw, you could get a 2800 sq foot home with 3/4 bedrooms and your own covered pool for the same pricetag (or less).

 

[chalee94]

What is the best way to begin researching buying a preowned contract? Do I buy from Disney directly or from another source? Thanks so much!!!

buying DVC directly can get you points faster. but depending on the home resort you prefer, you can definitely save money buying preowned. here is a link to the resale contracts available from the board sponsor.

before you buy, though, spend some time doing research on the DVC boards to make sure it's a good fit for you.

 

[mybabesuz]

Our initial investment was $18458.00...
Trips so far....
July 2009...6 nights...SSR...6 adults...3 children...2BR...$4489.00 and a Studio...$2228.00

December 2009...8 nights...AKV...2 Adults...2 Children...1BR...$4230.00

January 2010...7 nights...SSR...5 Adults...2 Children...2BR...$4371.00... Rented these points for $2500

April 2010...5 nights...BWV...2 Adults...2 Children...Studio...$2194.00

Total OOP Cost for Rooms would have been...$17512.00
That is only in our first two years of DVC....

Our only regret is not buying sooner!

Bottom line is... if you will be happy and comfortable staying at a value resort forever, DVC might not be for you.
But if your family is growing and you love Disney, DVC is definitely the way to go...
With Banking and Borrowing points it is easy to plan two or three trips in a 12 month period and save money by buying APs.

Besides it gives you a reason to have to go every year...

 

[eliza61]

So, I keep trying to do the math and figure it out, but there are so many factors, I keep giving up! So, I'm throwing it out to the Budget Board! Is DVC a good deal or not? I know you can buy points through resale and sure, I'd love to stay in Deluxe-type accommodations for every trip, and get a discount on AP's, but I don't want to make my trips more expensive than they are now, KWIM? So, what do you guys think about DVC? Do we have some owners here on the Bidget Board?

Another owner here and a budget board fan.

Timeshares in general are luxury purchases so "Good deal" is all relative.

Here are some pros and cons that went into a decision to buy for us.
Pros:

1) We pretty much stayed deluxed all the time. As our kids got bigger, it was getting pretty hard to squeeze into those little values. Plus we love the proximity to the parks.

2) we purchased 180 points 10 years ago. With the way we travel (10 nights generally in the summer). We broke even after trip 8.
3) we would never stay off site. Did it once, will not ever do it again.

Cons

1) annual dues. No one likes to pay them
2) Spend more money. The bottom line is we go to Disney waaay more than we would if we had to pay out of pocket. Especially since we do not change our style of vacation. Some people who pay out of pocket will drop down a level but we don't so I would still be shelling out the cash for a 1bedroom villa.
3) not available for free dining. I don't use the DDP so this is really not a con for me.

 

[gillenkl]

I've done the math for my family and have come up with 'no - not worth it'. I am a bargain shopper and go when and where the deals are. We would be styaing in much more luxurious places, but also paying more ultimately for it. So, the basic rule of thumb, IMO - is that if you go 2 or more times a year and stay at AT LEAST MODERATE (iffy to be a good deal) but most likely DELUXES (def. a good deal) - then it very well might be worth it for your family.

If you go during all the best promotions and don't mind staying in basic accomodations (oh and have 4 or fewer in your family) - then you're likely going to be paying more for the DVC luxuries.

I agree. For my family, DVC isn't a good deal for us, but for others it is.

 

[DCLbrideSept2009]

We just bought into DVC recently and will be going on our first DVC trip in March - AKV. We have 6 people in our family already and the oldest always brings a friend, so that's 7 people. Even in 2 rooms at a value or moderate, it's a tight squeeze and not a lot of privacy. We stayed in 2 rooms at Pop in August and had free dining, which was an awesome deal, but not a lot of space or privacy - us and 2 youngest girls in one room, teenagers and son in other room (connecting rooms). But having 2 separate bedrooms and the living room with pull-out sofa and chair is going to be MUCH, MUCH better! AND we'll have the kitchen and washer and dryer. AND 3 bathrooms! We will do quite a few meals in the villa so we're spending less on food. (It can REALLY add up with 7 people!). For us, it just made the most sense. It was either DVC or always staying off-site in a condo or townhouse. We really need more room than even just 2 regular rooms can give us. If we only had 2 kids and could always just do one regular room, we might not have bought into DVC.

 

[Toad_Passenger]

DVC has been somewhat of an obsession for me over the past 3 years since my DD was born. I've hemmed and hawed and still haven't pulled the trigger on it. I've been calculating through my spreadsheet and just don't know if it is worth it.

Going through resellers I could break even for my resort of choice in about 18 years. Sounds great given the ages of my children, but by booking year-to-year, I don't get that large lump in my stomach I get when I think about writing the BIG check up front.

Yes, we'd be getting an upgrade to having a private bedroom, etc., and a savings/year of $800. But that upfront cost, even with the means to pay it all at one time is still a sticking point for me.

I'm not one who likes to have to wait 18 years for my true savings to begin.

That being said, every year I try to make the numbers work in a way that will convince me to do it.

 

[GoofItUp]

DH & I bought into DVC last fall and will be taking our first trip this spring. We bought resale and saved quite a bit of money doing that. Plus, we bought a 100 point contract to save some money. While we previously stayed in value & moderate resorts, I always walked passed the bus stops with people lined up to go to the deluxe resorts and had so much envy. But I would never pay $300+/night to stay there. Now I can stay at those resorts and not pay that money. Is it costing more than a mod...probably...but I'm finally where I REALLY want to stay! And, since we bought in with only 100 points, if I decide later that I don't want to go every year, I can bank/borrow points and go every other year or even every 3rd year and not really be losing any points. I'll just stay longer or in even better accomodations. Or maybe both!

BTW -- we financed but did so independently at a much better rate than what Disney offers. Plus, we should have it paid off within 2 years of purchasing. While I thought I'd never finance a vacation, I decided to go ahead and do it since we have NO other debt (not mortgage, cc, car, or anything else) and I know I pay things off at a super-hero rate. If you're not a person who does that kind of thing, then financing might not be a good choice for you.

It is a decision that very much depends on your personal financial situation, your vacation habits, etc. So, while opinions on here (and anywhere else) about whether buying DVC is a good deal are widely varied, they're all right for each of the people that posted them.

 

[tzolkin]

We are a family of 5 and looking into the points/rooms it just seems expensive to me. We need a two bedroom for our family size, but they're almost 3 times the number of points as a studio that only sleeps 4.

I know the 2 bedroom is much nicer, but our family would rather take 2 longer trips than one short trip in a better room.

 

[labdogs42]

Our plan right now is to go twice in a 12 month span and take a year off inbetween. We can get the AP (with discount) and my dh can get the golf membership for a discount.

I like that plan. I may steal it!

What is the best way to begin researching buying a preowned contract? Do I buy from Disney directly or from another source? Thanks so much!!!

I have been shopping around. There are a lot of good resellers out there. I probably can't post the link to the one know about because they aren't the sponsor, but like others said, google and you can find them.

Right now, we stay at POP a lot. We are a family of three. I would LOVE to stay in deluxe accommodations, but I hate paying those prices! I think DVC would be a good fit for us. I like the idea of "pre-paying" for my vacations. We have gone to Disney 2-3x a year for the past 4 years. I think I could get my money's worth out of it! Im' the cheap one in the family, DH would pick the Beach Club every time if I let him decide. That's another reason DVC might be a good option. I'll feel like I'm getting a good deal and he'll be happy with the fancy room!

You guys have given me some good ideas and thinking points. Thanks! Keep 'em coming!

 

[katied]

I'm a DVC owner and my general answer is that no, DVC is not a budget choice.

DVC can work for some, depending on your facts (It works for us, we are very happy DVC owners, but still not a budget choice - I wanted Deluxe level, 1 bedroom or 2 bedroom for every stay with full kitchen, washer/dryer, and on-site convenience- none of these are budget choices).

My opinion only... key factors

1. Ability to pay upfront and not finance
2. Plan to go every year
3. Ability to plan vacations far in advance
4. Plan to pay for Deluxe level every trip

You can stay at Disney for less than the cost of DVC (values and moderates when there are special promotions). If you own DVC, you will not see the benefit of any promotions such as "free" dining, or buy 4 get 3, etc.

You can stay at off-site condo style places for far less than the cost of DVC.

So - there are budget choices that are better than DVC, but if you do plan to go every year, and pay for Deluxe every year, than DVC CAN save you money if you're in the position to pay up front and keep in mind the annual maintenance fees you'll need to pay.

 

[peyjax]

We had rented points once before. My idea was to buy a small 25-50 point crontract resale. That way you are in the system and then I would rent points from another owner. This way you are in control of your reservation and you get all those benefits like discounted AP,dining cards, etc. You are not out all the maintenance fees. Just use that money towards renting the points you want or need. You do not have to come up with a huge initial payment and if it comes to resale a 25 point contract is easier to unload.

 

[Dziactor]

I think it depends on how often you plan to go as well as what kind of room you want (value, mod, deluxe). For me, it worked.

 

[Toad_Passenger]

I'm a DVC owner and my general answer is that no, DVC is not a budget choice.

DVC can work for some, depending on your facts (It works for us, we are very happy DVC owners, but still not a budget choice - I wanted Deluxe level, 1 bedroom or 2 bedroom for every stay with full kitchen, washer/dryer, and on-site convenience- none of these are budget choices).

My opinion only... key factors

1. Ability to pay upfront and not finance
2. Plan to go every year
3. Ability to plan vacations far in advance
4. Plan to pay for Deluxe level every trip

You can stay at Disney for less than the cost of DVC (values and moderates when there are special promotions). If you own DVC, you will not see the benefit of any promotions such as "free" dining, or buy 4 get 3, etc.

You can stay at off-site condo style places for far less than the cost of DVC.

So - there are budget choices that are better than DVC, but if you do plan to go every year, and pay for Deluxe every year, than DVC CAN save you money if you're in the position to pay up front and keep in mind the annual maintenance fees you'll need to pay.

That's the way I've always seen it. The only way I can make the numbers work in my favor is to max out to a 1-2 Bedroom Villa, and compare it to getting a Deluxe room every year. But, even then, it's an 18-20 year break even, and that's buying through a reseller.

The thing is there will always be variables in our trips when we start to go yearly in 2011. Sometimes deluxe will be the best choice, other times it will be moderate. Based on that I haven't made the decision to go DVC.

 

[RachelsMommie]

I think the real question is not whether or not you have the money upfront to pay for the points, but if you have that money AND your personal residence is paid for. I'd rather have my house paid for than a Disney timeshare.

JMHO...but as a Dave Ramsey cult member, I'll remind you that 100% of all foreclosures occur on a home with a mortgage.

 

[ceecee]

When we paid the last of our mortgage, we looked into it. It was not a great deal for us. We were fine with a value or moderate resort. We added up the $ we spend over the last 10 years on all of our vacations (10 Disney and others as well). We considered the points and how much interest we would have earned in the 10 years and it just didn't jive for us. Then when Disney started the free dining that was a great deal, then the buy 4 get 3 was good for the next two years, so we were actually glad we decided against it.

 

[delmar411]

We had rented points once before. My idea was to buy a small 25-50 point crontract resale. That way you are in the system and then I would rent points from another owner. This way you are in control of your reservation and you get all those benefits like discounted AP,dining cards, etc. You are not out all the maintenance fees. Just use that money towards renting the points you want or need. You do not have to come up with a huge initial payment and if it comes to resale a 25 point contract is easier to unload.

That's a nice idea but it doesn't work like that. You can only be in control and talk to MS about the points you actually own. Any points rentals are between you and the owner and DVC won't talk to you about them. You also cannot combine your 25pts with rental points to make a single reservation. You'd need to do a point transfer to get control of those points for the UY and you can only do one of these each year.

 

[Ember]

This is a great thread. I've always held DVC up at something we were absolutely, definitely going to do one day when we could afford it. But reading though, I'm not actually sure it's right for us.

For one thing, it's just DH and myself. Now things may change, but at the moment we're planning on remaining child free. Another thing is that while I normally adore hotels, Disney is actually the exception to that. When I'm at Disney, I don't want to be in the hotel, I want to be out and about Disney World! Lastly, while I love Disney more than anything, I don't want to spend every vacation there. It's a great big world and there's so much to see. Hmm... It will be a while before we face this choice, but I am thinking it may not be for us.

I always thought it would be a for sure thing, but maybe not... Thanks for all the great thoughts and opinions!

 

[janette]

We are a family of 5 and looking into the points/rooms it just seems expensive to me. We need a two bedroom for our family size, but they're almost 3 times the number of points as a studio that only sleeps 4.

I know the 2 bedroom is much nicer, but our family would rather take 2 longer trips than one short trip in a better room.

The new DVC resorts have 1 bedrooms for 5. They have a pull out sofa & chair. Most important they have 2 bathrooms. Although there are only 4 of us this option would allow us to do a 1 bedroom again; with 2 teen girls the resorts with 1 bathroom just don't work as well. Our last trips have usually been 2 bedrooms just for the space and another bathroom.

 

[janette]

Right now, we stay at POP a lot. We are a family of three. I would LOVE to stay in deluxe accommodations, but I hate paying those prices! I think DVC would be a good fit for us. I like the idea of "pre-paying" for my vacations. We have gone to Disney 2-3x a year for the past 4 years. I think I could get my money's worth out of it! Im' the cheap one in the family, DH would pick the Beach Club every time if I let him decide. That's another reason DVC might be a good option. I'll feel like I'm getting a good deal and he'll be happy with the fancy room!

You guys have given me some good ideas and thinking points. Thanks! Keep 'em coming!

If you really like Beach Club it would be best to get it as your home resort; my DH loves it for the proximity to Epcot restaurants and we've been able to get it with a 7mth window but it is one that is harder due to the smaller size of the resort.

We own at BWV and that also has a great location and with home advantage we can book standard view so it stretches the points. You can probably get BWV with a 7mth window but I think getting standard view might be difficult.