Multi Family Purchasing Strategy

[Darb]

Hi. I’m new to the boards and hoping to get some advice on a first-time contract purchase. I’m helping my parents (60s) consider a resale contract or contracts that would be used for vacations they would take with my family and/or my sister’s family. In theory, we’d be planning for a trip every two years- typically with all three families together, but might occasionally have to vacation separately. There are 11 of us total (2 parents, 4 in my family, 5 in my sister’s) and we may want to do a 3-bedroom stay at some point, but are planning point totals around my family booking a studio or 1-bedroom and my sister’s family booking a 1- or 2-bedroom, assuming that my parents would most often stay with them when we travel together, or we’d transfer/bank/borrow/etc. for them to stay in a 2-bedroom with my family if we travel without my sister’s family.

Since we are all on the same page for home resort and use year, do you think it makes more sense to purchase a single larger contract for all families or two smaller ones? If one, we’d want to have both of us children on the title along with our parents. If two, then my sister and I would each co-own just one corresponding contract with our parents. Let’s assume that in either scenario, everyone involved gets along well enough to manage transferring or sharing points when necessary and is capable of mutually navigating the challenges of inheritance and family changes if that should ever become an issue.

Is it more convenient to just have one big bucket of points with lots of wiggle room but a more complicated ownership/management structure if/when there are family changes? Or is it better to plan for two family-specific contracts and just deal with the added challenges of potential transfers between them to match the needs of specific trips?

Thanks!

 

[disneydreamer1980]

I’d do 2 separate contracts with same use year, so it’s easier to book trips together but in the future you’ll each have your own contract if anything happens to your parents. I’m a DVC member and my parents are as well. They’ve added me to 1 of their contracts and my sister to the other, even though my sister doesn’t like WDW, just for fairness sake. We do Disney every year with my parents, splitting points on 2 week rental of 2 br or 2 studios (at Poly). We treasure this time with them and it’s so nice to have them there with us. Enjoy the memories you’ll make!

 

[Marionnette]

Hi. I’m new to the boards and hoping to get some advice on a first-time contract purchase. I’m helping my parents (60s) consider a resale contract or contracts that would be used for vacations they would take with my family and/or my sister’s family. In theory, we’d be planning for a trip every two years- typically with all three families together, but might occasionally have to vacation separately. There are 11 of us total (2 parents, 4 in my family, 5 in my sister’s) and we may want to do a 3-bedroom stay at some point, but are planning point totals around my family booking a studio or 1-bedroom and my sister’s family booking a 1- or 2-bedroom, assuming that my parents would most often stay with them when we travel together, or we’d transfer/bank/borrow/etc. for them to stay in a 2-bedroom with my family if we travel without my sister’s family.

Since we are all on the same page for home resort and use year, do you think it makes more sense to purchase a single larger contract for all families or two smaller ones? If one, we’d want to have both of us children on the title along with our parents. If two, then my sister and I would each co-own just one corresponding contract with our parents. Let’s assume that in either scenario, everyone involved gets along well enough to manage transferring or sharing points when necessary and is capable of mutually navigating the challenges of inheritance and family changes if that should ever become an issue.

Is it more convenient to just have one big bucket of points with lots of wiggle room but a more complicated ownership/management structure if/when there are family changes? Or is it better to plan for two family-specific contracts and just deal with the added challenges of potential transfers between them to match the needs of specific trips?

Thanks!

Dealing with my mother’s estate with my five siblings right now.

Get separate contracts! ​

I cannot emphasize it enough. Life changes bring all kinds of rifts into the most loving of families. Go ahead and get the same home resort, the same UY and get the number of points each family needs. You pay your own dues. You sell when you want to move on. Death or divorce won’t impact the uninvolved sibling. And if you want to transfer points to your sister (or her to you), it’s an easy process.

 

[Sandisw]

I second the advice. Individual contracts!

 

[sethschroeder]

I second the advice. Individual contracts!

You are the one on the left haha

 

[Wedgeout]

Like reading a riddle haha. My opinion it will be easier to find one good contract to match your family needs at any UY. It may be more challenging to find two contracts at a good price, points you want, and same UY, available at the same time. If each deed isn’t exact (names), or has different UY, they will become multiple memberships and It may get complicated pooling with point transfers for a single reservation. I would rather focus on one good contract rather than multiples as a first time purchaser.

 

[sethschroeder]

Like reading a riddle haha. My opinion it will be easier to find one good contract to match your family needs at any UY. It may be more challenging to find two contracts at a good price, points you want, and same UY, available at the same time. If each deed isn’t exact (names), or has different UY, they will become multiple memberships and It may get complicated pooling with point transfers for a single reservation. I would rather focus on one good contract rather than multiples as a first time purchaser.

You don't really need to worry about point transfers except possibly when doing the GV. For the GV year they would simply start the year prior planning and on a single call, transfer 2 years worth of points, and bank the first year of points. When you get to the reservation time book the first X number of days and then call back up and add-on the rest of the days with the transfer points.

They UYs wouldn't need to even match but it would be easier if they did match or were off by 1 month since the banking deadlines would be the same.

 

[Wedgeout]

Like reading a riddle haha. My opinion it will be easier to find one good contract to match your family needs at any UY. It may be more challenging to find two contracts at a good price, points you want, and same UY, available at the same time. If each deed isn’t exact (names), or has different UY, they will become multiple memberships and It may get complicated pooling with point transfers for a single reservation. I would rather focus on one good contract rather than multiples as a first time purchaser.

Also plan the budgeting for multiple contracts will have multiple closing costs.

 

[Marionnette]

Also plan the budgeting for multiple contracts will have multiple closing costs.

IMO, it’s worth the slightly increased per-point price and multiple closing costs just to keep peace in the family. The cost of a lawyer to untangle any conflicts over joint ownership would be much more.

 

[Wedgeout]

IMO, it’s worth the slightly increased per-point price and multiple closing costs just to keep peace in the family. The cost of a lawyer to untangle any conflicts over joint ownership would be much more.

Too much negativity,,,I need my happy place!!

 

[jo-jo]

I wish we had done separate contracts for the kids. One kid may use all their points every year. The other kid may go ever other year or decided they can't afford the dues and sell.

Now they will have to play nice for a good 5-10 years once they get it but I'm planning a long life, so could be a matter of weeks before contract runs out.

 

[OffToDWD]

Separate contracts (that's what we did)!

 

[_auroraborealis_]

You also have to assume family dynamic is just that: dynamic. You cannot count on everyone, every partner, every kid getting along and cooperating. Everyone not having their own issues coloring interaction.

 

[Deb & Bill]

You don't really need to worry about point transfers except possibly when doing the GV. For the GV year they would simply start the year prior planning and on a single call, transfer 2 years worth of points, and bank the first year of points. When you get to the reservation time book the first X number of days and then call back up and add-on the rest of the days with the transfer points.

They UYs wouldn't need to even match but it would be easier if they did match or were off by 1 month since the banking deadlines would be the same.

For not so saavy people, you transfer half the points you need from one contract to another family member's contract and they bank them to the next year when you will be going on the trip. Then you transfer the other half to the next UY. You cannot transfer banked or borrowed points, only current year points. You wind up with banked years transferred points and current year transferred points. Then you have as many as you need for that GV at one time. You call MS because the transferred points will not show up. So you book as many nights as you can right at 11 months out to lock in your GV. Then you call MS to book the rest of the nights you need with the transferred points. It's all one reservation.

For example:
You are planning on a Dec 2022 trip. You all have OKW Sept UY points, so Dec 2022 falls in your Sept 2022 UY. You transfer Xmany Sept 2021 points to the other family member's account. They bank them into Sept 2022. Then you transfer Sept 2022 points. You now have Xmany points from Sept 2021 and X many points from Sept 2022 and that family member makes the reservation starting with their own points in Jan 2022, 11 months out, 8AM ET. They get as many nights as they can with their points. Then at 9AM ET, they call MS to make the reservation for the remaining nights with the transferred points.

BUT, if you have three family members with contracts, only one will be able to transfer in each UY. You are limited to one transfer in or out each UY. Then you would need to make a separate reservation with the third family member's points and ask MS to mark both reservations "Continuing Reservation" and the other reservation number.

As for leaving a contract to the kids, they probably won't be able to afford them by the time they get them. Annual fees will be out the roof.

 

[RoseGold]

I think you need to have a real discussion about the exit strategy. If they plan to pass these down, then separate contracts. Or maybe just start with them in your and your sister’s name even and skip all the mess.

If they plan to use this for 10 years while your kids are little and then sell, this doesn’t matter as much. This is your parents’ decision, and not yours.

 

[_19disnA]

^^ Along the same lines is it also wise to purchase any type of timeshare if you are already in your 60's? As people get older and perhaps become less mobile, they will likely travel less and if you live a long distance from Disney, the time/expense to drive/fly there could become too much of a hassle. Where multiple families are involved it is difficult to predict the future. People's taste in vacation vary, so you might find one family wants to go to Disney frequently, while the other does not. A simple example could be your children get more involved in sports and your family needs to be more focused on that and has less time for any annual Disney vacation. Disney timeshares are apparently more reputable then many others that are around, but they are still mostly a pre-paid vacation expense.

It might make more sense to simply pay for vacations as you go and then let everyone decide what they want to do in any given year.

 

[MICKIMINI]

Too much negativity,,,I need my happy place!!

Respectfully, this is not negativity - it is reality. Get separate contracts same UY, same resort.

 

[MICKIMINI]

^^ Along the same lines is it also wise to purchase any type of timeshare if you are already in your 60's? As people get older and perhaps become less mobile, they will likely travel less and if you live a long distance from Disney, the time/expense to drive/fly there could become too much of a hassle. Where multiple families are involved it is difficult to predict the future. People's taste in vacation vary, so you might find one family wants to go to Disney frequently, while the other does not. A simple example could be your children get more involved in sports and your family needs to be more focused on that and has less time for any annual Disney vacation. Disney timeshares are apparently more reputable then many others that are around, but they are still mostly a pre-paid vacation expense.

It might make more sense to simply pay for vacations as you go and then let everyone decide what they want to do in any given year.

We're in our 60's and just bought an additional two contracts. We bought our first in 1996. Thankfully, we're not dead yet and plan to enjoy many more Disney vacations. I do agree that in this case, multiple contracts will save a lot of stress down the road.

 

[Marionnette]

^^ Along the same lines is it also wise to purchase any type of timeshare if you are already in your 60's? As people get older and perhaps become less mobile, they will likely travel less and if you live a long distance from Disney, the time/expense to drive/fly there could become too much of a hassle. Where multiple families are involved it is difficult to predict the future. People's taste in vacation vary, so you might find one family wants to go to Disney frequently, while the other does not. A simple example could be your children get more involved in sports and your family needs to be more focused on that and has less time for any annual Disney vacation. Disney timeshares are apparently more reputable then many others that are around, but they are still mostly a pre-paid vacation expense.

It might make more sense to simply pay for vacations as you go and then let everyone decide what they want to do in any given year.

OMG! How old are you? Just because someone is 60-ish, that doesn’t mean they won’t be traveling for the next 20-25 years. Why wouldn’t they want to lock their travel in at today’s prices and enjoy the benefits for themselves and their family? Life is too short to put yourself in an easy chair when you reach 60.

Unlike a younger buyer, we know what our travel preferences are. We also have a more flexible schedule that is not tied to children’s schooling or sports. We have more disposable income now that dance, soccer, mortgages and college tuitions are in the rear view mirror. And if life throws us a curveball, we can pass those contracts on to our kids. Lord knows they’re getting everything when we’re gone anyway! We would rather get enjoyment from the money now.

 

[_19disnA]

It isn't only about how long your will be able to travel. My advice was for the OP who indicated they are just now looking at buying a timeshare for the first time. Is the OP considering this as a way to have other family members join them on vacation or for other reasons? Regardless of the sales pitch, timeshares are not free vacations and there are still annual fees for maintenance & trading, most of those costs will likely go up over time and you have no way to know by how much. Disney seems far more reputable with their timeshares, but when you look around at all of scams associated with timeshares, it is still something to consider before jumping in for the first time.