Looking for some help from ya lucky lil DVC ducks out there: Spliting the contract???

[Junick]

My husband and I are trying to make things work so we can join you lucky little ducks in DVC membership. I worry that we might be to old for this venture(47), but we have only are mortgage to worry about. No credit card debt, no car payment. Children are grown have 3 beautiful grandbabies. We have a modest income of around $40,ooo per year. Was wondering if a 5 or 10 year contract was wiser in your esteemed opinions that is. Also from talking to other DVC members we met in the parks they have told us 3 things, 1 make sure you buy enough points ... 2 they have never regretted it and wished they had done it sooner and 3 make sure you split the points on your contract hmmmmmm ... what exactly does that mean prey tell? I don't know why I'm on the fence over this. We go to Disney every year anyways and my husband said if we had done it 5 years ago when he wanted to then we would have paid it off by now. Thanks for putting up with my ramble. I so want to be part of the DVC family.

 

[edk35]

We split our 300 points into 3 contracts when we bought into SSR back in Jan. 07. Then we added on to AKV with another 100 point contract. Our guide had to get special permission to do our split. I am sure it can be done still. Good luck. You might want to buy resale and buy a small contract and then add on more points later.

 

[Maistre Gracey]

Only you can answer the question "can I afford it".
That said, there is no such thing as a five or 10 year contract. The least would be an expiration of 2042... That means annual fees until that date.

That said, if you can afford it, there are many good deals to be had from resale brokers.
If you visit yearly anyway, I can't imagine it would be more expensive to go the DVC route.

Good luck!!

MG

 

[Maistre Gracey]

And NO WAY is 47 too old..

MG

 

[bobbiwoz]

And NO WAY is 47 too old..

MG

That's right, we were in our late 50s when we bought! I can't belive it's been 6 years already!!!!

Best wishes to you as you make up your mind. We are so happy with our decision and the trips that we've taken with our DGC and the whole family have given us great memories and enjoyment.

Bobbi

 

[Tink-n-Belle]

Too old at 47--- sshhh!!! I'm almost there and just added onto BLT --when that expires I will be 93

If you buy a large amount of points its wiser to split the contract up so if you want to sell some points in the future its easier to sell a 100pt contract than a 500 pt contract. You can also sell 200 points of a 500 point contract and keep 300 whereas if you bought the 500 in one contract you'd have to sell all 500 points at once.

Also, when we added onto BLT we bought 160 points and I split them into 2 (one for each kid) because I don't know if I will still be alive tomorrow never mind 50 years from now. That way the kids could each have their points to themselves and they could chose to do what they wanted with them.

You may want to start out with as few points as possible, I think the minimum is 160 now and then if you love DVC and find you need more points than buy more. Don't get to caught up in the latest price of the points as it seems they always have a deal of some kind.

Another thing, BLT, AK & SSR are the current DVC on sale, but you can buy the other resorts through Disney or resale. They are also building one in Hawaii and have two at the beach Hilton Head and VB although HH isn't really on the beach, but very close to it. We have been to VB and find its a really nice relaxing resort.

 

[Junick]

Thanks guys,
I should have said when I FINANCED would it be better to do it over the 10 year period or the 5 year period. Silly goose that I am.
Splitting sounds like a great idea thaty way I could split it up for the grand kids. They are only 3 and 3 months now.
I shouldn't say 47 is old. I surely wasn't intending to insult anyone. My husband and I have been together for 23 years and I am blessed to have this man in my life. He has lung disease so our life has been full of challenges. But with God's grace we have had a wonderful life. This is where the age worry comes in. I know no one knows how long they have on this Earth, but as time progresses so does his condition. This in mind I feel an urgency to do this. I have been so used to scrimping and saving and now that our girls are grown we are able to do some nice things for us and it is such a foreign feeling to me. Plus I want him to have some nice vacations. He so loves Disney. We walk through the gates and he turns into a 10-year-old. Crazy as it seems his breathing seems so much better there. The Doctors say its the barametric pressure, but I'm going with the pixie dust.
Last year we went with our kids and grandkids and it was just the best time we ever had. I'm hoping DVC will give us more of these wonderful vacations.

 

[Deb & Bill]

I was 47 when we bought 12 years ago.

 

[nunzia]

I say go for it! We paid cash for our 25 point OKW then put down a big down and then financed at 5 yr our 125 VGC. (Yes, wish I could have gotten more) I split that one into 2 contracts so that if we feel the need to not go as often, I can sell one and still have some points for occasional trips. I will probably sell my OKW at some point, or, heck, add on..who knows! I have 8 grandkids so buying one for each wouldn't work unless I was DVC Mike . BTW..I bought at 50. You're never too old for Disney.

 

[disneynutz]

I was 47 when we bought 12 years ago.

Lets see... 47+12=

 

[Muushka]

Thanks guys,
I should have said when I FINANCED would it be better to do it over the 10 year period or the 5 year period. Silly goose that I am.
Splitting sounds like a great idea thaty way I could split it up for the grand kids. They are only 3 and 3 months now.
I shouldn't say 47 is old. I surely wasn't intending to insult anyone. My husband and I have been together for 23 years and I am blessed to have this man in my life. He has lung disease so our life has been full of challenges. But with God's grace we have had a wonderful life. This is where the age worry comes in. I know no one knows how long they have on this Earth, but as time progresses so does his condition. This in mind I feel an urgency to do this. I have been so used to scrimping and saving and now that our girls are grown we are able to do some nice things for us and it is such a foreign feeling to me. Plus I want him to have some nice vacations. He so loves Disney. We walk through the gates and he turns into a 10-year-old. Crazy as it seems his breathing seems so much better there. The Doctors say its the barametric pressure, but I'm going with the pixie dust.
Last year we went with our kids and grandkids and it was just the best time we ever had. I'm hoping DVC will give us more of these wonderful vacations.

I believe it is the pixie dust also.

I hope your wish comes true soon.

 

[mopee3]

I was 47 when we bought 12 years ago.

Oh you kids!! We bought at the ripe age of 60 and that was 2 years ago. We were going to wait until our GOLDEN YEARS but we realized we are Living the Golden Years right now. And if we waited until that time we wouldn't either want to or be able to afford to purchase.

Moe

 

[DebbieB]

I wish I would have split my 250 BWV points into 150 and 100. That way I could sell one off. If I had done that, I would probably sell the 100 and buy 75 or 100 at GCV.

 

[Deb & Bill]

Lets see... 47+12=

You got it! Closer to death than birth!

 

[DenLo]

I worry that we might be to old for this venture(47) ...

We bought this year at the ages of 57 and 58. We are now retired and enjoying it. And our DVC membership is just making retirement better.

but we have only are mortgage to worry about. ...Children are grown have 3 beautiful grandbabies. ... Was wondering if a 5 or 10 year contract was wiser in your esteemed opinions that is.

Not sure what you mean by a 5 to 10 year contract--do you mean mortgage? We paid cash for our contracts so can't help you there.


and 3 make sure you split the points on your contract hmmmmmm ... what exactly does that mean prey tell?

Many parents split their points into equal contracts so they have a contract to leave to each of their children in their wills. Or if they are not leaving them for the children's inheritance, they still make the contracts smaller for easier resale. It's easier to sale three 100 point contracts versus one 300 point contract.

We too regret that we did not buy back in 1996 when we first seriously considered DVC membership. Now we just hope some of our extended family members will be willing to join us at WDW from time to time. But if not we will enjoy the Disney magic all by ourselves.

 

[Buzzsgramma]

Yep thats how old my hubby was when we bought DVC...but then he is a young 68 yr old in his heart & body....we go to WDW every yr & usually one of our kids & fam go with...

 

[Husurdady]

I was 47 when we bought 12 years ago.

And I was 49 years old when we bought in to OKW 12 years ago. It makes you feel young when you own apiece of Mickeys ear. Well just last birthday I turned 16 years old.......... do-the-math.....49+12=16

 

[CocosMeme]

Only 47! DH and I were 60 and 56 when we bought 2 years ago. We have 3 kids and 6 grandkids. We split our contracts into 3 separate ones at one resort (AKL) at the advice of our wonderful guide (Theresa). Now we can leave each child a contract or give it to them when we want to. All contracts have the same use year, so we can manage them easily. We have enough points so we can take the whole family once a year in a grand villa or use them for ourselves on mulitiple trips. This year we have been to HHI for a weeklong spring trip and are going to DW in December for the Christmas activities. Next year is our family fun trip in June, since we need to work around kids school schedules.

 

[toniosmom]

I was 47 when I purchased in 2008. I thought -- well I'll be in my 90's when it expires! My son was 3 at the time, so I figured he would be able to enjoy it into his 50's. I started with 160 -- had no idea you could or should split the contracts up. The next 3 contracts are 50, 50, and 60 each and I am happy that I did it that way. If I run into any financial trouble -- God forbid -- I can always unload the small ones and hold onto the 160.

Enjoy every second!

 

[photobob]

I am 47 and bought three years ago. Wished I could have done it earlier but couldn't afford it then, barely could when I did! I am a big believer in vacation for maintaining proper mental health. I have friends that hardly ever vacation, I can't imagine, I go because I must! I don't make a lot of money so DVC is probably a bigger investment for me than most other members, but i feel it is an investment for my family and don't in any way regret the purchase. I may even add on in the coming years, but really can't even come close to affording it right now.