Is DVC for me?

[TinkBride]

Here's the story. DH and I have been married for 4 years. Since we have been married we have been to Disney every year and we are planning our 4th trip. This is my 16th trip and I am 26. We know without a doubt that when we have kiddos in a couple years we will be visiting at the very least every 2 years. Currently, we rent points via you fabulous people for all of our trips. We absolutely love renting points, but *I* am starting to wonder if it would be more worth our money to by via resale and have our *own* piece of DVC. I would love to have BWV as our home resort because the Boardwalk is where we were married in 2007 - so it holds a special place in our heart.

I am also thinking that BCV may be an option.

This is my dilemma - I am sold. I would buy tommorow if I could. DH on the other hand is very skeptical and questioning the value of buying in. He has agreed to do a DVC tour on our November trip to see what it is all about and ask questions. But, I want the nitty gritty from all of you - you know - the stuff the DVC staff won't tell us.....DH's hang up is the annual dues and he does not want to finance it and add another bill to our budget. But, we are Disney Visa members and I read somewhere that the dues can be paid with reward dollars?

My other question is about home resort vs. other DVC resorts. Like I said above I would love to buy at BWV or BCV by resale - but it looks like the annual dues are about $2.00 higher than at say BLT. If we bought at BLT to get lower annual dues, would there be any issue if we didnt stay there every trip? Is that a bad idea to save a few bucks? Also, besides AKL (not our style), what other resorts would you suggest considering?

I am not concerned about points not being used. In between our 2 families if we can not use points for some reason, there are plenty of friends and family that will be willing to take them off our hands.

Please give me the good, bad, and ugly because DH and I are really beginning to consider this and I need to convince him that buying now makes more sense than buying in 5-6 years......we want to make an educated decision and do what is best for the value. Any and I mean ANY advice or thoughts is appreciated.

Sorry for all the questions - we are seriously considering and trying to look before we leap! And I know I can count on you to be totally honest.

 

[Deb & Bill]

Dues always go up. So those lower dues at BLT will go up each year. And you will need more points to stay at an equivalent size lodging at BLT vs one of the other villas. But you can use your points at any DVC lodging at 7 months out if it is available.

You might want to look at a SSR resale. Even less than BLT and a very nice resort.

 

[twinboysmom]

First rule is buy where you want to stay. If you really think that BWV is where you want to be, then buy there. It can be very difficult to stay here booking at the 7 month window. We like to travel during May, October, and early December and haven't had good luck booking too many resorts other than our home resort of SSR, OKW, or AKL. You will pay quite a bit more per point for BLT and like Deb said, it takes a significant amount of points to stay there. Not sure if it would offset the dues.

If you are financially able, buying now versus waiting means more time to use it now. The major drawback to DVC for me is that we have to make vacation plans pretty far in advance. We used to plan ahead maybe 3 months ahead of time. This doesn't work well with DVC. When you go on the dvc tour, your guide may be like ours and convince you how easy it is to stay at the other dvc resorts. Since you have done your research (unlike my DH and I in 2004) you will know a little better. Also, peak times for dvc are totally different than typical wdw peak times. Hope this helps some. If you think of specific questions just ask. There are a lot of experts on these boards who know a lot more than I do.

 

[Hunclemarco]

what we did was calculate what it would cost us paying yearly not being in DVC.
For example, we're taking a trip in May, not on points, and we're paying almost $2000.00. This is for a value, a basic ticket, and the "free dining plan" for 6 days.

With that same amount of money, it would be a good downpayment, or even 80%+ on a 25-50 point contract going resale. In either event, DVC will pay for itself many times over. The payment we made for the May trip will all but become a memory, but by putting the money toward DVC, that will add toward a "prepayment" of future trips.

*Calculate buying a few more points than you need...if they change the point allocation, you'll want to be safe there.

*Mousekeepping is not the same for DVC than it is your average hotel.

*although you may be able to book for quick trips on the spur of the moment, it's strongly reccommended that you plan 1 year out to make your reservations.

*again, there may be point reallocations...each resort will maintain the same number of points, but they can change how the points are used within the resort...

*when buying DVC, you're buying accommodations...that's it. The perks will come and go, and although we do pay a pretty penny joining DVC, we may at times feel "entitled" to the perks, but again, that's just what they are...perks, not guaranteed or expected. Buying CRO may have "perks", and sometimes they'll pay less for their trip, but with DVC you're paying for future trips now.

*DVC can and does change how the points can be used via the criuse lines and non-disney accommodations. (RCI vs. II), limited availability of rooms on points for cruises

*there's been speculation about tiered structuring of DVC and the difference between purchasing resale and buying direct. Nothing concrete with these matters, but Disney does have the right to set these "patterns" in motion if they choose to.

I'm sure there's many other things, just cannot think of them right now. I'm also not trying to discourage, just give things to think about. Some of these things were discussed with our guide, but most of the information we've learned have come from the DIS...in fact friends of mine call this site my Disney Bible.

 

[backyardponder]

You are young and it appears you have some debt. Is this something which makes sense at this point in time? Will there be kids coming in the future and, if so, will this expense get in the way of raising them?

On the other hand, you are renting points for your trips now. Is your cost of rental significantly higher than ownership? It is a question you need to figure the answer to.

Good Luck!!!!

 

[disneynutz]

You need to look at the cost of ownership and the total cost of vacationing at Disney every year or two for many years. The cost of your room is small compared to the cost for transportation, food, admission, and Disney extras.

As a renter, if you decide to stay home there is no cost. As a owner, you still have your purchase price and increasing dues to pay.

Good luck with your decision and have fun!

Bill

 

[NH Disneyfan]

This is all terrific advice. To give a little more context - as kids grow you realize how expensive it is. We are new DVC members and I think we bought too many points. Just booked a 10 night vacation in a 1 BR for 2011. We want to visit Harry Potter at Universal, and spend the majority of our time at Disney. We are well into the $7K range for this trip including flights, dues, tickets, meals, groceries, car, etc.

Kid's tickets aren't cheap, and they are free for a very short time (1 trip). Take some time to factor it all in before taking the plunge - you don't want to have to sell because you made a bad decision.

 

[hardhead]

If you cannot pay cash for DVC you wont be saving money over renting points due to the interest you will be paying on it IMHO. I used to rent points but I saved up until I could afford to pay cash and I bought at SSR via resale. I just didnt like somebody else control my vacation.The price per point is Great now on the resale market at SSR you would save thousands of dollars. Also dues at SSR are lower then all but BLT. And your contract length is much longer at SSR then BWV. The thing about buy were you want to stay is complete BS. I own at SSR and have never had a problem getting into another resort. I'm in BLT right know and staying at BWV for Easter week. plus if you cannot get into another resort SSR is GREAT also. Stayed in a treehouse in May. Good Luck

 

[dbs1228]

Keep reading these boards, resale is a great way to go. Disney is expensive and keeps getting more costly. I for one have gone every year for 15 years with 3 kids and finally realized I should have taken the plunge much sooner as I did pay a lot for lodging because we did not fit into 1 standard room and I always wanted a kitchen.

If you can comfortably afford DVC now then research a little more and go for it, I do think buying where you want to stay is GOOD advice if you are planning kids in the future since your vacation times will be less flexible once kids are in school.

 

[daddey]

Keep reading, buy a re-sale where you want to stay. You can always book 7 months out somewhere else, we've never had a problem. Pay cash, don't add debt. You both need to be on board with the decision. There is a lot of experienced members here who will offer advice but ultimately it is your decision to make. If you do buy in and get in a bind I will tell you that it is fairly easy to sell unlike other timeshares.

Good luck in you decision!

 

[ClarabelleCow]

I love disney, but as the kids got older, we don't go as much, if I could do it over, I would not buy I would rent when we wanted to go. I feel it becomes an obligation because if you don't use you bank and then if you don't go you have to worry about renting them out. I have an 18 and 10 year old, and there are other things in life than Disney. I refuse to trade into RCI, because there is just no comparison, you can rent some of the resorts for half of what your maintenance is through other rental outlets.

I had 300 points, just sold off 104 of them. Not because I had to , but because it seemed silly to still pay on them when I bank every year.

I got suckered into the whole, "i want to be a part of the club", and once i saw the rental prices, I didnt see the point in owning so much except for the control factor.

And I also don't believe in financing for a "luxury", now if you can afford to just buy outright and it wont affect other aspects of your life, then go for it.

 

[crisi]

When we were first married with no kids we could do Disney pretty cheap.

Then we had kids - and the kid expenses. Daycare was $1500 a month. And airfare costs doubled because we now needed four tickets to go anywhere.

Now my kids are Disney Adults - at eleven and twelve. Tickets are expensive. Food is expensive. And on a day to day basis, the kids are expensive. My son goes through shoes and clothes and food at an incredible rate. There are the sports fees and camp fees. Even silly things - seems like I'm always putting more money into their school lunch accounts.

Make sure this fits into your long term budget. Kids make everything more expensive.

Also, if you haven't had your kids yet, remember that the older resorts have earlier expirations.

 

[TinkBride]

Wow - so many factors and good advice to consider. If we buy - I am about 99.9% sure DH will never agree to it until we can pay in cash. DH's biggest concern is not the initial purchase, but commiting to maintenance fees that continually increase and don't go away until you sell or the contract expires. I totally understand this concern and it is the ONE thing that keeps me guessing. We do not have kids yet, but plan to in the next year or so. DH is wanting to continue saving and buy in in 5-6 years in cash once our family is "complete" so to say. Because then we can better gauge the maintenance fees fitting into our budget realistically with children. If we were to buy now we would have to finance it (or only part of it if that is allowed) and it would be our only debt beyond our mortgage. We can afford it now with no problem - but who knows what the future holds for us. So, I understand DH's concern, and as others have said, factoring in the "unseen future costs" with a family.

DH's other point is that currently we get the "perk" of staying at DVC resorts by renting without the upfront cost and maintenance fees. In a perfect world - he is absolutely right. Fortunately we have rented in the past with zero issues - but it is hard for me to put all of that trust into a stranger. And when we check in I always have a pit in my stomach that our reservation won't be there.....and I hate that. I like the assurance of knowing we are "safe". But is that worth yearly fees and thousands of dollars????

Who knows.......and around we go!

 

[Mtnman44]

just look at what you have spent on lodging in past trips and compare that to your purchase cost (over the number of years you can reasonably expect and plan to use it, say 20 years plus the maint dues). If you typically spend a couple grand every year on WDW hotels, then DVC may be a good option for you. If you don't spend that much or if you may not really spend that much every year in the forseeable future, then DVC may not be a great choice for you.

You take a risk, in return for a discount on future lodging. Your risk is that you are committing the money now, but seeing the savings over many years. If your plans change in the future and you don't want to continue visiting WDW, then you may not get the full anticipated savings.

 

[crisi]

You can sit down and try and figure out how kids will fit into your budget. It will be a guess - no more or less, because kids are a variable thing. But since they are relatively close in your future, you have some idea of if you'll quit your job or put kids in daycare - a few phone calls will let you know how much that is. A trip to Target to scope out diapers.

But the cost of kids isn't static. The first years are the expensive daycare years, and then you think "oh, I get a break" as they head into kindergarten - and unless you do private school, you do, but also have dance lessons and soccer fees and hockey gear (or whatever), plus before and after school care and summer care, that means you don't have as much free money as you thought. Then you have a teenager, with car insurance. And there is ALWAYS saving for college (or whatever form of higher education your children need). If you DH wants to be sure its going to fit into the budget before making a commitment - he never is going to be sure - and renting might be the best thing for him in terms of comfort.

 

[DisneySJB]

I have ready several times in these posts that some people wished they would have bought DVC sooner in their lives - because of the $$ spent at Disney. You break even with DVC in 7-8 trips. It is essentially locking in at today's rates for vacations for the rest of your lives.

I decided to take the plunge while planning my second trip to WDW. When I realized the cost of the hotel for 1 week would be a nice size downpayment for DVC, I was sold. I don't regret for 1 second. We have taken several trips since purcasing in 2004 - a couple of which we would never have been able to afford without DVC. I feel that we are sooooo blessed to be able to take our DD8 to Disney. She has friends that can't afford to go and we go 1-2 times per year! We are so very lucky to be DVC owners and DD8 is growing up "Disney".

Good Luck!

 

[mgroshans]

we did finance our 100 point contract 2 years ago and plan on paying it off early. That's the beauty of it, you can always pay towards your principle on there website with no penalty. Our dues are taken out every month also on the 15th, same day as our loan payment. I know a lot of people on the boards will have harsh words for financing, but, it works for us and that's all we care about. Financing with Disney does not show up on your credit report, I've looked a few times-as recent as a month ago- and it's not on there. We love it and wish we joined sooner. We will be doing an add on at our home resort of AKV for 100 points, so we have 2 seperate contracts to deed our 2 DS's when they get older.
Good luck!

 

[daddey]

Financing with Disney does not show up on your credit report
Good luck!

umm... it's there they report it.

 

[daddey]

Wow - so many factors and good advice to consider. If we buy - I am about 99.9% sure DH will never agree to it until we can pay in cash. DH's biggest concern is not the initial purchase, but commiting to maintenance fees that continually increase and don't go away until you sell or the contract expires. I totally understand this concern and it is the ONE thing that keeps me guessing. We do not have kids yet, but plan to in the next year or so. DH is wanting to continue saving and buy in in 5-6 years in cash once our family is "complete" so to say. Because then we can better gauge the maintenance fees fitting into our budget realistically with children. If we were to buy now we would have to finance it (or only part of it if that is allowed) and it would be our only debt beyond our mortgage. We can afford it now with no problem - but who knows what the future holds for us. So, I understand DH's concern, and as others have said, factoring in the "unseen future costs" with a family.

DH's other point is that currently we get the "perk" of staying at DVC resorts by renting without the upfront cost and maintenance fees. In a perfect world - he is absolutely right. Fortunately we have rented in the past with zero issues - but it is hard for me to put all of that trust into a stranger. And when we check in I always have a pit in my stomach that our reservation won't be there.....and I hate that. I like the assurance of knowing we are "safe". But is that worth yearly fees and thousands of dollars????

Who knows.......and around we go!

sounds like you have a good plan, stick with it and buy when you can

 

[mgroshans]

umm... it's there they report it.

Sorry, but it's not. We've had the loan from Disney since Sept. of '08.

posts #10 and #25 of this thread:
http://www.disboards.com/showthread.php?t=2211342&highlight=financing+disney