Looking to buy

[Bibbydad]

My family are looking to buy three weeks in August at SS, I am probably going to ask some silly questions but I do need help.

1. When I buy into DVC how long does the contract last... can I pass it to my daughter when I am too old to fly from England!!

2. How easy is it to add to the points that I originally purchased.

3. What is the cost of the annual maintenance fees.

I am sure I will have many more in the coming months

Many thanks for your help

 

[chalee94]

1. When I buy into DVC how long does the contract last... can I pass it to my daughter when I am too old to fly from England!!

depends on the resort you buy into:

most resorts expire in 2042.
SSR expires in 2054.
AKV (and some OKW) expire in 2057.
BLT expires in 2060.

2. How easy is it to add to the points that I originally purchased.

really easy. just call DVC and you can add another contract for 25 or more pts if you are paying cash or 50 or more pts if you are financing.

3. What is the cost of the annual maintenance fees.

here is a link to the annual fees per point at each resort (with a complete history).

 

[DenLo]

My family are looking to buy three weeks in August at SS, I am probably going to ask some silly questions but I do need help.

1. When I buy into DVC how long does the contract last... can I pass it to my daughter when I am too old to fly from England!!
It will depend on the age of the resort. All started out to be 50 year contracts but the older ones have less years remaining. Here is the United States there is no problem passing a contract to someone else. Some designate it in there wills others just go to an attorney to have it legally changed to someone else later.

2. How easy is it to add to the points that I originally purchased.

You can easily buy resale or if your country allows direct through the DVC. We have done both ways and there are advantages and disadvantages.

Add on through the DVC:

A. No closing costs;
B. Received the points in our MS account the same day (or no later than the next day);
C. MFs are prorated based on when you purchase them.

Add on through Resale:

A. Lower price per point;
B. Disney has the right of first refusal (ROFR) and take over the contract bid themselves;
C. There are closing costs that you may have to pay or sometimes you can get the seller to cover all or some of the costs.
D. MF are for the entire year, sometimes the seller will pay the cost of the MF.

3. What is the cost of the annual maintenance fees.
It varies depending on your number of points purchased and your home resort you buy into. Here's a link we the recent MF for 2009 http://www.dvcnews.com/index.php/dvc-program/financial/2009-resort-budgets

I am sure I will have many more in the coming months

Many thanks for your help

Unlike most timeshares, at DVC you do not buy a specific week or even month. You purchase points that can be used any time and at any DVC resort. There are points charts for each resort for each year that indicates how many points per night you need to stay at the resort(s). It also gives a weekly rate but the DVC weeks do not begin or end on any specific day.

Here is a good link that gives you the basics about the DVC. http://www.dvcnews.com/index.php/dvc-program/dvc-for-beginners

Also if you have a guide at the DVC, the guide will explain a lot of your questions. Or just ask more questions here on the DISboards.

 

[Bibbydad]

Hi Chalee94,

Thank you so much for the advice... it all looks very simple!!

Bibbydad

 

[Goofy DVC]

If you're going to buy enough points for three weeks, I would recommend 2 or 3 smaller contracts rather than 1 large contract. Smaller contracts are much easier to sell in the event that you want or have to sell. I agree with all the other feedback given. Good luck.