more questions

[Sorbo78]

1) First, the easy one:

Your use year doesn't mean that's when you can actually call and make the reservations, it just means you can't USE the points until then.

Example, my use year is December. I could make the reservation now for January with the intent of using the points I get in December.

Right?

2) Next up, the various "collections". If I got the "Disney" collection, I can make reservations to any of those places no problem? But if I want to make a reservation from one of the other collections, I need to find someone who will trade me points? Do you do that through DVC or on these boards or what?

And if you buy a resale, I guess they tell you beforehand which 'collection' it is part of?

3) And finally, I understand there are small tax benefits from financing your purchase in the form of mortgage interest. Is that the case with resales as well, or just if you buy direct?


Thanks. We are so close to pulling the trigger.....

 

[DVCLiz]

1) First, the easy one:

Your use year doesn't mean that's when you can actually call and make the reservations, it just means you can't USE the points until then.

Example, my use year is December. I could make the reservation now for January with the intent of using the points I get in December.

Right?

2) Next up, the various "collections". If I got the "Disney" collection, I can make reservations to any of those places no problem? But if I want to make a reservation from one of the other collections, I need to find someone who will trade me points? Do you do that through DVC or on these boards or what?

And if you buy a resale, I guess they tell you beforehand which 'collection' it is part of?

3) And finally, I understand there are small tax benefits from financing your purchase in the form of mortgage interest. Is that the case with resales as well, or just if you buy direct?


Thanks. We are so close to pulling the trigger.....

1) Right.
2) No. Any of the Disney "Collection" opportunities will have a point value assigned to them. All of the other WDW properties, the Disneyland ones, the Concierge Collection hotels, etc. have points assigned, and you would reserve them just like you would reserve a regular DVC unit at, say, the Boardwalk at WDW. The only time you would need to bother about trading points, or renting them from an owner, would be if you wanted to stay somewhere that wasn't your home resort and was very difficult to book less than 11 months out, or if you needed more points than you owned or could borrow from the upcoming year, and wanted to have a DVC owner transfer additional points into your account.
3) It depends on where you are getting the money to buy the resale. If it's a traditional loan that accrues mortgage interest, you could deduct it. I think most people take either a personal loan or a home equity loan, so you would just need to know the terms of your loan to see if you could deduct the interest.

 

[Anthony1971]

3) And finally, I understand there are small tax benefits from financing your purchase in the form of mortgage interest. Is that the case with resales as well, or just if you buy direct?

There are stipulations to this
DVC is viewed as a second home so yo can deduct Mortgage interest (on a mortgae type loan) and you can deduct the property taxes. This must be your only second home (you can only deduct one if you had another then you would deduct the higher) and if you pay AMT it is not deductable perios as far as I know also keep in mind that you need to be making an itemized deduction on your taxes already for any of this to apply.
Lastly if you can get a mortgage for 10.??% and another loan for 5% that you can not deduct the interest you will do better with the 5% loan.... as you will get at most approx 30% of the interest paid or .30 on the dollar and that is even questionable

 

[DebbieB]

All points use is based on date of stay. If your use year is December, your points would look like this:

December 06 use year: Stays between 12/01/06 and 11/30/07.

December 07: 12/1/07 and 11/30/08

December 08: 12/1/08 and 11/30/09

So you look at your date of stay to see what use year the date falls into. You can use points banked from the use year before or borrow from the following use year. Again, only look at your date of stay.