is vb worth it?

[nickglover]

I wanted to post my comments from a different thread, to see if I could generate some further discussion on this issue - thanks:


With annual dues at Vero Beach going up so much, to around $700 a year for only 150 points, my wife and I are going to seriously reconsider continued DVC membership.

It seems to me that, not even considering the initial investment, we could take that $700 a year (which will apparently soon be $900 - $1000 a year, and plan "pay our own way" vacations for less - and we would have the added freedom and flexibility of going anywhere and not having to figure out our DVC plans so far in advance - and not having to pay $75 per reservation for Concierge properties and cruises, which adds up quickly.

The main reason we joined was because the points per night, over time, could not increase for a year - they could just be re-allocated, meaning that stays at Vero Beach in future years would become quite a bargain - but this was assuming that annual dues would not increase so rapidly.

With Vero Beach becoming a wealthier area (notice the increased presence of brokerage firms and trust firms, and the increase in the cost of new homes in the area), you can see that the property taxes alone are going to cause large increases in dues at VB.

We love VB, but we may decide to sell our DVC membership and just use cash to stay there.

Nick

 

[jaysue]

We have struggled with a similar question - do we buy at VB or just rely on the 7mo window knowing without a trade we face compromise on accomodations (i.e. no Beach Cottages, may have to use Inn rooms instead of Studios, 1BR in place of 2BR etc.)

VB is becoming pretty fancy for real estate

My dues concerns more along the lines of:

1) higher insurance costs due to beach location and increasing ocean levels along with potentially more frequent storm occurance

2) relatively low number of units at VB spreading fixed costs amongst low ownership numbers

3) Is mtce. higher being an ocean front property? - beach sand replenishment, salt air wear and tear etc....

thanks
jaysue

 

[mydogdrew]

I looked into it as well and don't think it makes sense. The WDW sites are the only sites where you get value for your points. You can often get a cash room at VB or HHI for less than the cost of your points. What's the point in buying! See other post on HHI where you use 21 points for a $125 2 BR in February vs 11 points for a $246 studio in Orlando same week. $6 vs. $22 per point? You can still make the argument that you buy the points cheap at VB and use them at Disney.

 

[Dean]

VB still makes sense if you plan to stay there regularly. It does not make sense to own just to have points to use for other places. Of course you could make the same arguement for the other trade options including DCL, DC, CC, etc. Some have chosen to use Disney as their vacation savings bank and that is their prerogative but the return is only reasonable for DVC options , mostly avoiding weekends or for stays of a week or longer with only one weekend.

 

[Jimbo]

I tend to agree about VB, but I have to disagree somewhat about HHI. The difference is that VB isn't nearly as seasonal as HHI. Granted, if you want to stay at HHI off-season, say in February, there will be plenty of cash deals available.

But if, like me, you want to visit HHI with the family during summer vacation it's another story. Disney's resort will be full as will pretty much the whole island. You'll be lucky to find a room at all, much less a discounted one.

 

[Maistre Gracey]

Originally posted by nickglover
It seems to me that, not even considering the initial investment, we could take that $700 a year (which will apparently soon be $900 - $1000 a year, and plan "pay our own way" vacations for less - and we would have the added freedom and flexibility of going anywhere and not having to figure out our DVC plans so far in advance - and not having to pay $75 per reservation for Concierge properties and cruises, which adds up quickly.

I am not at home so I don't have the cash rates and point schedules for VB at hand, but....
I would certainly guess that $700 would not get nearly the amount of nights, nor the size accommodations that 150 points would.
Yes, cash is always more flexible, but as Dean suggest, we own and use our VB points strictly for VB.

Good luck with your decision...

MG

 

[Nick@ VB+OKW]

In our case it is worth it. We use our VB pts(300) for VB. We like having the 11 month window for peak times there and for the Beach Cottages.

My sister and her family are also moving to West Palm Beach in 3 weeks, so we will only be 1 hr away from them. We will also have the option of flying into WPB airport or Orlando's. We also will have the option to stay at my sisters(in WPB) on a Friday or Saturday if we fly in those days.........then drive an hour north up to VB for the rest of our stay. The most I would impose on my sister's home is 1-2 days if even that.

Also when we eventually retire and move(4 yrs) to Florida we can always have family get togethers in the Beach Cottages since all 4 of my brothers and sisters are DVC members also.

I also wouldn't buy into VB to stay at WDW. Thats why we have pts at OKW also.

 

[PamOKW]

Originally posted by nickglover
With Vero Beach becoming a wealthier area (notice the increased presence of brokerage firms and trust firms, and the increase in the cost of new homes in the area), you can see that the property taxes alone are going to cause large increases in dues at VB.

Nick

While the cost of dues for points is certainly a consideration, I wouldn't put too much weight on expecting additional property tax because "it is becoming a wealthier area". It has always been a wealthy winter playground. The increase in business properties might actual help build up the tax base. There has not been much of a increase in property taxes to date and I don't expect to see a big spike.

I've tried looking over the different budget items and comparing them across the years. It's a little difficult since there are so many variables in terms of number of units, amount of subsidy, etc. However, for the last three years the increases seem to be the same problems effecting all DVC resort dues -- increased insurance costs for property and for employees and a decrease in the return on investments. I'm hopeful that the economy heading back up again will help to keep the dues at a more stable level.

The benefit cited for owning HHI in the summer can also be said of owning Vero in the winter. Reservations are tougher in the winter months and comparable resorts will cost more. In fact, I don't know anywhere else you could get an oceanfront "cottage" for any reasonable price.

 

[Dean]

Originally posted by Maistre Gracey
I am not at home so I don't have the cash rates and point schedules for VB at hand, but....
I would certainly guess that $700 would not get nearly the amount of nights, nor the size accommodations that 150 points would.
Yes, cash is always more flexible, but as Dean suggest, we own and use our VB points strictly for VB.

Good luck with your decision...

MG

MG, I think this the common misconception/mistake many people make when looking at DVC. They compare to cash prices of the DVC resorts and this is a very skewed way of looking at it if one is on the outside looking in or contemplating such, as in this thread. Owning timeshares, especially DVC, is truly the proverbial golden handcuffs. While it may be a good thing for many, it is not for everyone. DVC is a great option for those that would stay on property anyway, can minimize weekends and go to WDW every year or mostly so. It is not a good financial option for anyone else. I am always amused at those that say they just bought DVC to have a prepaid vacation. Like it doesn't matter any more what the costs are or what the value of their points are. If I ever wanted to change jobs, I think I could start a business trading points and supplying alternatives for vacations for DVC members. I think I'd do quite well even with rentals in the $10 pp range. That be a profit of around $2-4 pp for many of the options.

 

[Desperado]

Good discussion.

 

[July]

The way I look at it is. It is worth it if I take the maintenance fees and divide it by the days I'm staying. I take the month I'm staying and if I can't make a cash reservation for that amount of money than yes it is worth it.
In April I can stay 7 nights at Vero in a one bedroom for 240 points. Those 240 points cost 1100 & something in maintenance fees. Well I have that room for approximately $160 a night. Now that is not including the initial cost of buying. But I count that as my guarenttee for a very nice vacation every year. Well worth my inital cost.
Now if I use the same points to stay at OKW then I would have to rethink it.
Trading out is not worth it.
But using my points for Vero and getting the 11 month window for prime time is..
But everyone's situation is not the same.

July

 

[PamOKW]

Originally posted by July
In April I can stay 7 nights at Vero in a one bedroom for 240 points. Those 240 points cost 1100 & something in maintenance fees. Well I have that room for approximately $160 a night.

For fun, I took a look at the cost for a 1-bedroom in mid-April at Marriott's Hutchinson Island Resort down in Stuart as a comparison. They list a one-bedroom oceanview for $419 a night and an oceanfront one-bedroom for $349. Tax on top of that is 8%.

Vero is not inexpensive but it is at least comparably priced (if not better) and the resort itself is unique among East Coast Florida properties.

 

[nickglover]

Thanks for the thoughtful input, and I welcome more.

We love Vero Beach and I think we will continue with DVC and evaluate each year whether we think we are getting a good value for our points.

We like staying in September in the week (pretty quiet time) and a one-bedroom is only 18 points a night.

An Inn room or studio is 8-10 points a night at that time in the week. I believe I saw a recent Florida resident special for an Inn room recently at $129 a night, so that provides a little bit of a comparison.

 

[PamOKW]

The value does become hazier when you are staying at off peak times when there are low rates available. My guess is that you'll at least stay even and do have the convenience of being able to book in advance.

 

[CaptainMidnight]

Looks like a good discussion and worthwhile assessment to make. Even if you compare Vero with another ocean front timeshare, you probably have to figure somewhere in there the extra advantage of being able to use your points at an onsite WDW resort, when you want to choose that instead of a beach vacation. That additional flexibility is worth some $$$.

I also think there is a difference between "Theming" and decorating, when comparing to other hotels.

I certainly hate to see the large increase in dues and worry when the dock keeps getting washed away.

 

[jaysue]

Good point CM on the dock area - on one of our 2 days in Nov, there was a strong onshore wind and combined with high tide meant every wave was up past the beach access and almost up to the dunes - there was in essence no beach to take advantage of - the other day though there was a wide strip to take advantage of - very variable

When we there the ramp section was closed off - the stairs were open

thanks
jaysue

 

[thegoods]

Good point about the ramp. While there at Thanksgiving, I watched the ramp "float with the waves" as the last 30 feet of it were destroyed once more. I talked with Maintenance while they were scratching their heads. I offered several suggestions (I have been a civil engineer for 20+ years) and they barely even acknowledged me. Guess we'll just have to see what the imagineers come up with. Correct repair of the ramp will help slow increases in dues.