Looking at buying to DVC: I'm a true Rookie,HELP

[Pennyguy23]

I am looking to buy into DVC here pretty soon.
-We just got married and built a new house so money is a little tight but not broke.
-I figure that we should own rather then keep spending 1000's on Dis vacations
-We really like BWV but don't know how much to get, How do I buy more points
-What is all the lingo(banking, etc.)

-Would it be better to by SSR because it is until 2054 instead of 2042? It seems like should be a big thing because onced you are paid off you only own dues. Seems to make sense to me. What are you thoughts?
Thanks everyone

 

[Happy Birthday Cat]

-Would it be better to by SSR because it is until 2054 instead of 2042? It seems like should be a big thing because onced you are paid off you only own dues. Seems to make sense to me. What are you thoughts?

I would rather be in the place I want to stay for the next 36 years instead of a second choice for 48.

For how many points, look at the point chart at the top of this page. What type of accomodation you want and how many days do you want it for? You can calculate the number of points. If you buy from Disney, you need to buy at least 150 points to start.

Buy where you want to stay unless you can't make plans at least 8 months in advance or if you really don't care where you want to stay.

HBC

 

[starbox]

We've been able to make every reservation we wanted at 7 months. If you are not planning to travel during Christmas, Easter, or Thanksgiving week, you probably won't have trouble booking at 7 months.

I am assuming that you are young. The extra years in the SSR contract will likely matter if you are in your 20s or early 30's.

 

[Demosthenes]

I agree that those extra 12 years are something to consider. The 11 month booking window only is an advantage if you can book out more than 7 months in advance (not everybody can).

 

[weathernlu]

Someone already posted what I was going to say. The extra 12 years at SSR is huge for a young family like me, the wife just turned 30 and I am 29. My kids are 6 and 2, so they'll be able to use the DVC at SSR until even the youngest is 50.

Since you just bought a new home, I would say that you might want to wait and make sure your ready for all the things a home brings into your budget that you might not be anticipating. I know it was a shock for me 7 years ago.

Just some thoughts.

 

[MILLZ]

I would rather be in the place I want to stay for the next 36 years instead of a second choice for 48.

For how many points, look at the point chart at the top of this page. What type of accomodation you want and how many days do you want it for? You can calculate the number of points. If you buy from Disney, you need to buy at least 150 points to start.

Buy where you want to stay unless you can't make plans at least 8 months in advance or if you really don't care where you want to stay.

HBC

Read these boards and they are filled with people who make reservations at 7 mths the extra 12 years is huge. Something you can leave to your kids so they can enjoy.SSR is a bueatiful resort and the other thing that put my wife and i over the top is its so close to dd so when our kid or kids are gone we can go to pleasyre island at night.The other thing we thought is say 15 years from now we want to get rid of it we can sell and imagine the value diff between a place that has 12 extra years thats huge value.YOUll HAVE 47 YEARS im sure youll stay everywhere

 

[Pennyguy23]

Thank you all very much for you input. I am 23 and my wife is 21 so we are young but we just love it there. It is just so nice there. No worries. I don't see myself going out of that so the extra 12 years is pretty big to me.
I don't think I am going to buy anything until after christmas but I know it will be soon.
Weaternlu-I know with a new house bills are shocking, it was pretty crazy at first but I am getting used to it. I also have a Saltwater aquarium addiction, so that is a big expense too.
Have any of you bought from the TIMESHARE STORE? I was thinking I could get something with like 100 points at first to see how we like it. Do I buy more from disney or do I have to buy another package?

 

[dianeschlicht]

Do I buy more from disney or do I have to buy another package?

You can add-on any number of points from Disney at ANY DVC resort once you are in the system. You just have to add-on a minimum of 25, and you might have to wait for one of the sold out resorts, but you can buy any DVC resort points directly from Disney, should you choose to. We purchased a 230 point contract to begin with, and then added on 150 a year later when we realized we had underestimated how much we wanted to stay in the 2 bedroom and 3 bedroom villas. If I had it to do right now and at your age, I would likely buy in at either SSR or one of the upcoming new resorts at Animal Kingdom or Contemporary. Those extra 12 years will be really important for you. They mean nothing to me, since I am retirement age already.

 

[salmoneous]

-Would it be better to by SSR because it is until 2054 instead of 2042?

Different people think differently. Me? I put what happens after 2042 at the bottom of my list.

It's a long ways off. I may change - my family may change - Disney may change - Florida may change - my finances may change. It's just too far in the future with too many unknown for me to place a significant value on those extra 12 years.

 

[tor]

Seems like I've seen this argument here before 12 more years or 11 month window perhaps this should be contained in one thread or the mods could have the servers insert the same responses given every time by the same people

 

[crisi]

I would rather be in the place I want to stay for the next 36 years instead of a second choice for 48.

I think if SSR is a second choice for you, and you are 20, those 12 extra years are tempting.

SSR isn't on our choice list. I'll rent my points and stay at the Poly on cash before I book SSR. This isn't slamming SSR - I don't like it, that doesn't mean it can't be other people's favorite resort.

My rule is "buy where you won't be disappointed to end up" rather than "buy where you want to stay." I'd be disappointed to stay at SSR.

 

[Happy Birthday Cat]

Read these boards and they are filled with people who make reservations at 7 mths the extra 12 years is huge.

I guess I'll start reading these boards.

IMHO the extra 12 years aren't "huge" if you end up staying in a place you don't want to be. If you don't mind being at SSR or won't stay there wishing you were at (fill in the blank), then the 12 years can make a difference.

I think that one should "buy where you want to stay unless you can't make plans at least 8 months in advance or if you really don't care where you want to stay." Lots of people are successful at making reservations at 7 months or less but will you be happy staying in the place you get a reservation for?

If the answer to the questions are: 1. You won't mind and 2. I will be happy, then I agree with you. But then again I said that in my first post too.

Back to reading......

OP: Good luck with your decision.

HBC

 

[Mtnman44]

Nothing wrong with SSR. Save a little money on Maint fees and it will hold value longer. Even if you don't plan on owning the whole term, it's going to make a difference 10 to 15 years from now when it comes to resale price. For some, OKW and SSR type resorts are not their style, for others it's exactly what they want so just go with what YOU think you want. You'll have the chance to stay at all the resorts but get your points at a place you would be happy to stay at.

Don't forget, common sense seems to indicate that there will be more DVC resorts created in the next 5 to 20 years so you might be changing "home" resorts in the future!

 

[Granny]

Seems like I've seen this argument here before 12 more years or 11 month window perhaps this should be contained in one thread or the mods could have the servers insert the same responses given every time by the same people

Yep, this comes up all the time. I've bookmarked THIS THREAD started by JimMIA which explores this discussion in-depth.

I'd strongly advise any DVC newbie to read the entire thread, and more importantly, take the time to understand it. Ask questions, become comfortable in your knowledge so when you do make a purchase, the chances of "buyers remorse" are slim, including which resort you will be calling HOME.

I'm good with crisi's modification of the axiom in indicating that someone should buy where they won't be disappointed to stay.

But if you really, really like a particular resort....I think HBC has great advice.

Those who post that people rarely have a problem reserving at 7 months at any resort at any time of the year are reading a different DVC forum than I do.

 

[starbox]

Those who post that people rarely have a problem reserving at 7 months at any resort at any time of the year are reading a different DVC forum than I do.

Since I've been reading the boards, I have not seen a single post with someone saying they could not reserve right at 7 months. I've seen lots and lots and lots and lots of posts complaining about not getting reservations at less than 7 months.

IMHO, there is a world of difference between trying to make a reservation as soon as the 7 month window opens and waiting even a week or two to make that same reservation.

I'd be curious if anyone has an example of not being able to get a reservation that they 1) called for the day the 7 month window opened and 2) were willing to wait list.

 

[Granny]

Since I've been reading the boards, I have not seen a single post with someone saying they could not reserve right at 7 months. I've seen lots and lots and lots and lots of posts complaining about not getting reservations at less than 7 months.

IMHO, there is a world of difference between trying to make a reservation as soon as the 7 month window opens and waiting even a week or two to make that same reservation.

I'd be curious if anyone has an example of not being able to get a reservation that they 1) called for the day the 7 month window opened and 2) were willing to wait list.

I didn't do an exhaustive search for such posts, but here's an example of one that's on the planning boards right now. Click here

And here's another thread that has dozens of people who can't get exactly what they're looking for even before the 7 month window opened up!

I'm really happy that you have had great success in getting to stay where you want in booking at the 7 month window (PS...that's not sarcasm, I really am happy for you). I just don't think it's accurate to give a person without DVC experience the impression that they can book any resort for any time of the year at 7 months.

 

[crisi]

Since I've been reading the boards, I have not seen a single post with someone saying they could not reserve right at 7 months. I've seen lots and lots and lots and lots of posts complaining about not getting reservations at less than 7 months.

IMHO, there is a world of difference between trying to make a reservation as soon as the 7 month window opens and waiting even a week or two to make that same reservation.

I'd be curious if anyone has an example of not being able to get a reservation that they 1) called for the day the 7 month window opened and 2) were willing to wait list.

There were just those threads when the seven month window opened up for Food and Wine and early December this year. Both Epcot resorts were fully booked by about six and a half months. Maybe the crackdown on commercial renters will help, maybe not.

 

[Disney Doll]

I have owned since 1997. My thoughts on DVC:

~Buy where you want to stay. I would put a little addendum on this...buy where you want to stay if where you stay is a paramount part of your vacation. Let me explain myself. There are some folks for whom their vacation is not their vacation unless they are at the Beach Club (BC) and swimming in Stormalong Bay (SAB). If they cannot stay at the BC and swim in SAB, then their vacation is ruined. For those folks, I would always advise to buy at the BC, regardless of how many years are left on the contract, because you work hard for your vacation time and if where you stay really matters to the point of affecting your enjoyment of your vacation, then you need to be able to stay where you want to stay by having the 11 month booking advantage. There are other folks who are just happy to be at WDW, and can find the positives in every resort...for those folks, I would say to go for the extra 12 years. DH and I fall into this 2nd group. When we were buying, only Old Key West (OKW) and the Boardwalk (BWV) were available. OKW was cheaper per point and cheaper dues, we saw it, we liked it. We also liked the BWV, but not enough to overcome the less expensive OKW costs, so we bought at OKW. Except for one time, I have always been able to stay where I have wanted to stay, home resort or not. Maybe we have been lucky, maybe we go at "off" times (usually October/November or January or sometimes April/May)when it's not as busy so there is availability. What I usually do is book my stay at OKW at the 11 month window. At the 7 month window, I call to check availability at whatever other resort I may wish to stay in, if I want to stay somewhere other than OKW. I'll go on a waiting list, I'm not opposed to splititng a stay between 2 resorts. So think about it...what type of vacationer are you in terms of accomodations? Do the accomodations "make or break" your trip, or are you happy to just be "in the magic"?
~Think of the next 50-ish years. What will you be doing? Maybe you'll have kids. Maybe you won't. Don't necessarily plan your DVC purchase based on children & their needs...remember, you & DW will probably spend a lot of alone time at WDW, both before the kids arrive and after they are grown.
~Points. How many? I don't know...how many can you afford without it negatively affecting your budget?? DVC is a luxury, not a necessaity and as such, it should not take away from the day-to-day necessity items. Having a DVC payment should not mean that you cannot pay your electric bill. Purchase your points accordingly. If you buy from DVC, you have to buy a minimum of 150 points the first time. Once you are an owner, you can then do smaller add-ons through DVC if you want. So you could feasibly buy a 25 point contract from a resaler, and then do add-ons through DVC if you wanted to. When DH & I bought the 1st time, we bought through DVC, we bought 200 points, we financed it with their 10 year loan because it had the lowest monthly payment and out thinking was that if there was a month when money was "tight" all we had to pay was the low monthly payment, but in other months when we had extra money we could pay more toward the loan and pay it off faster. That is what we did, and we had it paid off in about 3.5-4 years. Then we decided we needed more points, so we bought a resale contract, again at OKW, through The Timeshare Store (TTS). Dealing with them was great...it was about a 6 week event, start to finish...this was in the years before Disney was so big on exercising their Right of First Refusal (ROFR)...so that wasn't as much of an issue for us as it seems to be now. Anyhow, the only thing with TTS then was they had no financing options, so you had to have cash or some other way to finance. Now I think they work with some kind of finacial institution for loans, but I am not positive about that, so don't quote me. It seems to me that I just got something in the mail that said something to that effect though. We had inherited $$ from my in-laws, so we used some of that to buy a few more points. I have known other folks who used a home equity loan, their Disney VISA to get rewards points and then paid it off the next month using a home equity loan, I have known people who have refinanced their house and pulled equity out that way...there are ways to do it, but I would check with TTS if you decide to go that route because they may offer you some options as well now.
~The lingo...banking is when you know you have points that you are not going to use this Use Year (UY), so you bank them into next Use Year. A Use Year is the 365 day period in which you can spend your points or exercise your option to bank all or a portion of them. Our Use Year for one of our OKW contracts is September. This means that every September we get 200 points which must be spent or banked by the next August 31st or we lose them. Points can only be banked for one Use Year. You can also borrow points from the next Use Year. So for example, if I have a September Use Year of 200 points, that means on Septmber 1, 2006 I got 200 points. I know I am not going to use them, so I immediately bank them. On September 1, 2007 I get another 200 points. Now, I decide that I am going to be Joe Generous and take the whole extended family for a bang out WDW vacation in October 2007, and I am going to need 600 points to do it. I have the 200 points banked from my 2006 UY, I have the 200 points available from my 2007 UY, and now I borrow 200 points form my 2008 UY. Voila!!!! 600 points! Of course, this means that I cannot get more points until September 2009, which is a decision one has to make very carefully....how much do you like your family that you are willing to blow all your points on a vacation for them????
~The resorts. IMHO, all have their charm. There are those who will disagree with me, and that is fine.

OKW has large units, and is a condo-style, rather than hotel-style design. You can walk/boat to SSR & DTD.

BCV & BWV are hotel style...interior hallways. Their draw is location, locaiton, location. Walking distance to Epcot and MGM, not to mention the whole Boardwalk at your feet.

Villas at the Wilderness Lodge (VWL). Hotel style. Boat to the Magic Kingdom (MK).

Saratoga Springs Resort & Spa (SSR) Condo style, exterior entrances. Walk/boat to OKW & DTD.

Just announced...Villas at the Animal Kingdom Lodge (VAKL). Don't know a thing about them...perhaps there are others here that do.

My best advice is to take your time purchasing. Perhaps wait till you go to WDW again and tour each facility to see which one has the best "feel" to you...where you'd be the most comfortable. Ask yourself "If DVC changed the rules and we could only stay in or home resort, could we always be happy here"? That is what DH & I did, and it was a good way to make our decision.

Best of luck. PM me with ????

 

[crisi]

Since I've been reading the boards, I have not seen a single post with someone saying they could not reserve right at 7 months. I've seen lots and lots and lots and lots of posts complaining about not getting reservations at less than 7 months.

IMHO, there is a world of difference between trying to make a reservation as soon as the 7 month window opens and waiting even a week or two to make that same reservation.

I'd be curious if anyone has an example of not being able to get a reservation that they 1) called for the day the 7 month window opened and 2) were willing to wait list.

Here is the December thread:

http://www.disboards.com/showthread.php?t=1074823

People were on the waitlist for resorts before the seven month window opened.

 

[magicmama]

Ditto what Disney Doll said. Very well stated.

Good Luck with your decision. You'll find great info on this site. Do what works for you and your family. Then enjoy the magic!