Loved DVC, Want to Buy, Lots of Quesitons

[Mich Mouse]

Hello,

Just returned from a wonderful week at the BWV...I don't think we will ever want to stay in a regular room again! I guess this is what happened to most of you DVC owners!

We went to the presentation at SSR, but I held off on making the impulse purchase because I wanted to do some of my own investigating. We loved the location of BW and BC, but understand that purchasing there costs the same $$ per point, and the contract runs out twelve years earlier. DH thinks it is a no brainer to buy SSR, but I was wondering, if you buy from a broker, rather than get on the waitlist through Disney, do you wind up paying much less per point or is it the same?

Also, how difficult is is to trade points during the last two weeks in August if you own at SSR, and want to stay at BCV? This is likely where I would like to stay mostly, but I am concerned that it will be difficult to make a ressie at the 7 month window. I know this question cannot be given a deinite answer, but maybe some of you could advise me of your experiences?

We willl need as many points that is required to stay in a 2 bedroom, BC, in last August. I think that is 315 or around there...How should I do this? If I get on the waiting list with Disney will I be able to make a purchase in this amount? What about through a broker?

Also, What are some of your experiences with brokers? (I hope not to begin getting solicitations from this post. When I made my first post on this board I remember being bombarded with them!)

Also, What is ROFR?

Any advice /suggestions on making this large investment would be truly appreciated.

We are SO psyched to join DVC!

 

[crisi]

I look at the buy where you want to stay question like this......

Let's say Disney was offering a certain number of people the ability to make ADRs a month before everyone else. It isn't - generally speaking - enough people to completely book the restaurants - maybe some popular restuarants at some popular times. But it makes that many fewer seats in those restaurants when everyone else books. And while the number of people with the advantage remains the same, the number of people calling when reservations open for everyone is ever growing. Which group do you want to be in, the ones with the advantage or the ones calling with everyone else?

Some people are happy making their reservations at SSR and if there is availability when they switch, they switch. They don't find a few weeks (or longer) on the waitlist to get what they'd prefer to be stressful, and if they get it, no big deal. I'm not like that. I stress over vacations. I make my plans in advance.

 

[LisaS]

I agree with crisi re: buying where you want to stay so I'll address some of your other questions.

Purchasing BCV through Disney will cost you $95/point. There is a waiting list, especially if you want 315 points. You may have to start with whatever you can get and add on as points become available. Some here have gotten points at BCV within 2 weeks by stating they will take any use year rather than asking for specific use years. (Since you expect to travel at the end of Aug, a Sept or Oct UY would not be good for you so you might want not want to accept any use year). Disney has a 150 point minimum, but you can buy any number of points you want over 150. There are closing costs now through Disney but I don't know how much they charge. If you buy a use year month where you would still be in your 2005 use year (Sep, Oct, Dec) then you would get 2005 points at time of purchase and 2006 points in a few months, otherwise you will start with 2006 points (but as we get closer to 2007, it won't be long until you would get your 2007 uy allotment for use years early in the calendar year.)

If you purchase resale, you will pay about the same for BCV, less for BWV ($85-$86). Click on the "DVC Resales" link at the top of the page to see what this board's sponsor has available. In addition to the price posted, there are closing costs ($500-ish) and some sellers request reimbursement of current year dues (both items negotiable) so add that to the cost to get to the final total cost of the contract. Be aware Disney has the Right Of First Refusal (ROFR) on all sales so if you negotiate a great price/pt with the seller you increase the chance that Disney will get the contract instead of you. As to the 315 points you want, you are unlikely to find a resale contract that is exactly the size you want. Also you must look very carefully to see how many points are available -- some contracts are stripped of all current year and next use year's points, others may have banked points available and often the stripped contracts are listed for the same price as the loaded ones.

Re: brokers, I bought through The Timeshare Store and everything went very smoothly. I would definitely recommend them. Also, take a look at the ROFR thread here to get recent info on what price/point it takes to clear ROFR. It will be different for each resort.

Good luck!

 

[DizneyNutz]

We did the no brainer first. We liked SSR even though we have never stayed there (we visited). Then we booked there and tried to switch at 7 mos. Worked once and once it didn't. We found ourselves dissapointed and realized it does matter to us once we were faced with it in reality. So now we are switching off. Selling SSR and buying the other taking the years differance loss doesn't matter to us because it means the difference between being in our 80s versus being in our 90s when it expires. So IF deep down it really DOES matter to you both, I would STRONGLY suggest you go for BC if that is where you desire to be most. They are already talking about DVC construction beginning at AK and certainly elsewhere, so the competition will only get a little stronger at the 7 month window as time passes. I am not a 2 contract holder, but I don't believe I would wait for a 300 pt. contract at BC. Maybe look into 2 contracts totalling the amount of points you desire. The people at Timeshare Store can explain how all that works much better than I. Hoping this may help you avoid taking the road we just found ourselves on. We should have admitted to ourselves that it did matter to us.

 

[Sammie]

If it matters, definitely buy where you want to stay. Especially if you are able to plan your trips between 11-8 months. If that is not possible then it truly does not matter since you would have to call at 7 months or less anyway.

Also make sure since you stayed at the BWV and loved it, you will not be disappointed not being there.

I know that the SAB pool at BCV is a huge draw but one does not spend all their time at the pool and personally, and I know many will disagree, but I prefer to stay at a full DVC resort and not an add on. I like good views, I like the Community Hall, etc. that the addons don't have.

It is a huge investement and I would recommend staying at BCV before making the purchase. I know many purchase, sight unseen, but that is not something I could be comfortable with.

 

[Mich Mouse]

Thank you so much for your helpful responses. I am going have DH look them over, and decide what is really most important to us. I know that I do not want to spend all our time at SSR....It seems more like a moderate resort to me (large, spread out, outside hallways) for a deluxe price, But I know he will still be reminding me about the extra twelve years.

We are always happy with all Disney accomodations, and we have stayed in twelve different Disney resorts over the last six years. (We really should have done this DVC long ago!) but we do like the Epcot resort area best. We have stayed at BC two times times, and loved everything about it, so I do think we would be happiest with a purchase there.

If I purchase more than one contract, how does that work out? Double closing costs? What are the advantages/disadvantages?

Thanks again for your help! I really need to think it all over, even though I want to immediately sign on the dotted line! Our DVC salesman (Mario) was so nice and he told me that I could have made ressies that very day if I wanted to! That was hard to resist!

 

[lizziepooh]

If you bought 150 points at BC and 150 at Saratoga Springs, you could bank points and stay at least every other year at BC. If you weren't successful booking BC with your Saratoga points at 7 months, at least you would know that the next year you would be at BC. If staying at BC is really important and you can book more than 7 months out, I think you need to own some BC points.

 

[browniemtb]

I agree with the buy were you want to stay statement.
We were in the same boat with points as well. We needed over 300 for our visits. I was told, and it was great advice, to split the contract. I'm not sure if anyone mention this above.....but do not buy a 315 point contract. Break in two if you can.......just in case its easier to unload a 155 or so contract than it would be to get rid of a 310 pointer. Maybe you can go on a eaitlist for two contracts....or do one resale and another through Disney....
Good Luck in your decision making....you have come to the right place for your questions...there are a lot of veteran DVCers in this forum.
Brownie

 

[Mich Mouse]

Thank you.

Are the closing costs doubled for two separate contracts?

And what about use year? Does that make a difference at all or can I book at anytime using points from various contracts?

 

[paults]

sammie

but I prefer to stay at a full DVC resort and not an add on. I like good views, I like the Community Hall, etc. that the addons don't have.

I don't get this. I'm I reading this wrong. BWV is an add-on resort and has a community hall and IMO the best views of all the onsite DVC resorts



Mich Mouse

If you buy BWV orBCV and at 7 months want to switch to SSR it will be easier this way than the other

 

[Cruelladeville]

No, BW is not an add-on resort, it was built completely as you see it now. The person who mentioned the add-on resorts meant BC and WL, where the DVC building was built later as a separate building, not connected to the main lobby. Personally, I am more concerned about location and amenities than I am about the building's attachment to the lobby, but we all have our own personal preferences.

 

[LisaS]

Are the closing costs doubled for two separate contracts?

Good advice from Brownie re: splitting up those 315 points across two contracts. If you wanted to sell all of your points, smaller contracts are easier to sell. Also, since you cannot sell part of your points, having two contracts allows you to reduce the number of points you own by selling off one of your two contracts.

As far as double closing costs, you can probably avoid this. Disney only just started charging closing costs so there isn't a lot of info yet on how this works. If you bought 150 BCV points from Disney, waited 24 hours (to become a member), then added on the rest of the points, you would not pay closing costs on the second contract. Check with your guide to see what they can do. Since you are interested in BCV, you probably won't get 315 points all at once anyway.

And what about use year? Does that make a difference at all or can I book at anytime using points from various contracts?

It's easier to manage your points if both/all of your contracts have the same use year. If all of those points are at the same resort, the two contracts function as one single contract for reserving at your home resort and for banking. If the contracts are at different resorts but the same UY, you can pool the points at 7 months out to reserve at any resort, and the points are still combined for banking percentages.

Use year has no effect on when you can book a reservation -- you can book 11 months in advance at your home resort and 7 months in advance at any resort regardless of your use year. Use year determines your banking deadlines and really only becomes an issue if you ever have to cancel a reservation. If you like to go to WDW at the end of August, and you had a September use year, and you had to cancel that August trip on short notice, the points used for that reservation return to your account. You would be past your last banking deadline and with a Sep use year, the points expire at the end of August. So you would have very little time to use them or lose them.

On the other hand, if you had an Aug UY, the points go back into your account and you would have until the end of the following July to use them, giving you an entire year to use them for another reservation. Provided you cancelled at least 31 days prior to check-in, you could bank all of the points into the next use year. (If you cancelled within 31 days of check-in, the points go into the "holding account" and must be used by the end of their use year for reservations made within 60 days of check-in.)

 

[ceejay13]

I just want to support the buy where you want to stay most philosophy. We originally bought at the BWV and added on right after our initial purchase. A couple of years later we wanted to add on again but the BCV were for sale (BWV were sold out and I hadn't explored resales at that point) and we thought we would just add on there. In the 4 years we owned our BCV points we only stayed there once. We had a great stay and the resort was wonderful, we just preferred the BWV. This year we added on again at the BWV and are now in the process of selling our BCV points. It is much easier for us to manage our points at the same resort, plus we prefer the BWV. Our second choice is OKW and many times it is easier to get a room there when the BWV are not available. As to the resale experience from the selling point of view - it has been essentially hassle free. We put our BCV points for sale on a Friday and they were purchased by the end of that same day. We just got word that Disney passed on ROFR (right of first refusal) and are awaiting the closing process. I have been on these boards long enough and done enough research that I knew I wanted to sell through the Timeshare Store (TSS). We originally purchased in 2000 and I did a couple of months research on these boards before purchasing. I was hesitant that we wouldn't be able to get the rooms at the times we wanted. As evidenced by our continued add-ons, our only regret is that we didn't buy sooner. I tend to be a planner and try and book at the 11 month window so we get what we want. There have been 2 times that we decided at the spur of the moment to take an additional trip. In March we decided to book a 6 night stay for May and got a great 1 bdr at OKW. One other time I booked 4 weeks out, granted it was in early February, and was able to get a room. We have loved the stays at all the DVC resorts we have stayed at VB, BCV, BWV and OKW and have never had a bad experience. Good luck on whatever decision you make!

 

[Slakk]

Personally I think Buy where you want to stay is a bit silly if you have not tried all the resorts. When we purchased SSR I was sure I would love BWV so we planned a trip there - was I surprised that it does not suit us. Strangely the two resorts I was sure I would not like VWL and BCV do suit us so now we have points at three resorts (SSR still my fave by far) and if CR is real well I think we will be adding a few points there.

Had I done the whole BWYWTS thing I would have owned a bunch of points at a resort that really did not suit us.

Saying that ALL of the DVC resorts are phenominal and any are great - some just better. I like owning at a bunch of resorts, this way I have a ton of choices.

 

[Mich Mouse]

Use year has no effect on when you can book a reservation -- you can book 11 months in advance at your home resort and 7 months in advance at any resort regardless of your use year. Use year determines your banking deadlines and really only becomes an issue if you ever have to cancel a reservation. If you like to go to WDW at the end of August, and you had a September use year, and you had to cancel that August trip on short notice, the points used for that reservation return to your account. You would be past your last banking deadline and with a Sep use year, the points expire at the end of August. So you would have very little time to use them or lose them.

On the other hand, if you had an Aug UY, the points go back into your account and you would have until the end of the following July to use them, giving you an entire year to use them for another reservation. Provided you cancelled at least 31 days prior to check-in, you could bank all of the points into the next use year. (If you cancelled within 31 days of check-in, the points go into the "holding account" and must be used by the end of their use year for reservations made within 60 days of check-in.)

Thank you all for your extensive knowledge sharing!

Is there anyway to purchase a use year that you want/request? I am a teacher and trips will be mostly in the summer, so I'd like an August use year if possible.

 

[LisaS]

Is there anyway to purchase a use year that you want/request? I am a teacher and trips will be mostly in the summer, so I'd like an August use year if possible.

If you purchase directly from Disney, tell them what use year you want. Even if you purchase SSR and they tell you they are currently selling, say, Dec UY, you can tell them you want a different UY and they will most likely have points available. For other resorts, you may have to go on a waitlist for what you want. If you purchase via the resale market, the UY will be listed as part of the contract information so you can see what is available for your preferred UY(s).

If you plan to vacation mostly in the summer, you might want a June use year rather than August. Just as a Sep UY could be a problem for someone who travels in Aug, an Aug UY could be a problem for someone who travels in Jun or Jul. There are eight UYs: Feb, Mar, Apr, Jun, Aug, Sep, Oct and Dec. Even with an Apr UY, your deadline for banking 100% of your points would be Sep 30th, so if you cancelled a summer vacation one year (at least 31 days prior to check-in) you would still have time to bank all of your points into the next UY.

Thank you all for your extensive knowledge sharing!

You're welcome! In addition to the posts here on the DVC boards, you might also want to take a look at vascubaguy's DVC website where you'll find helpful info on the mechanics of DVC ownership (banking and borrowing, holding account, etc.): http://members.cox.net/disneyvacationclub/