Need love having to sell ;-(

[CSJLJJK7]

I am just devastated. We have a large blended family and will be hard pressed to help our kids with college and weddings. Our DVC holding was the only thing that I was really excited to leave to our kids and future grandchildren. It was paid for and safe. Not so much anymore. Please tell me someone else has lost their DVC and gotten it back. Please.

Scott

 

[Sandisw]

I just became a new member but understand the whole college thing and just want to say that I am sorry that right now, DVC has to go for you.

But, I am positive that in the future, you will end up being a member again. Your wonderful children will make sure of it!!!

 

[maburke]

Sooo sorry for you. Would renting your points be an option in the short term?

 

[chrisw127]

No experience with this, but I just wanted to tell you that you're making the right decision. Life has a way of working out; something tells me you'll have this chance again.

Take care.

 

[Maistre Gracey]

I too am sorry to hear you need to sell.

That said, I have a little harsher look on things than most.. I believe in letting the kids pay for their education and weddings. Well, I would help to a point, but not at the expense of my only true luxury.

That's just my opinion. I'm sure others will disagree...

Still paying my wife's student loan,
MG

 

[chatchdvc]

When I went to sell my original contract, I was so down about not having any DVC points that I did an add on right before selling. I bought 50 points so that I could still be a member.
Since then I have slowly rebuilt my DVC membership, so don't give up hope.
You can have DVC in the future, if you still want it.

Also, I agree with MG-... My DS and DD are not having their entire education bankrolled by me. If they don't get scholarships, they will have loans.

 

[nunzia]

I too am sorry to hear you need to sell.

That said, I have a little harsher look on things than most.. I believe in letting the kids pay for their education and weddings. Well, I would help to a point, but not at the expense of my only true luxury.

That's just my opinion. I'm sure others will disagree...

Still paying my wife's student loan,
MG

I also agree here..My kids made it on their own through school. We helped some, but for the most part they took care of it themselves and are proud they did. I think it's good for a kid to realize the true cost of a good education..then they'll cherish it more. For my daughter's wedding we told her we would spend a set amount..anything over she'd need to come up with herself. Voila..economical wedding (compared to some). I know someone who went one step further..they just gave their daughter the cash and told her she could keep any extra. That worked like a charm.
I think we need to focus more on our retirement than on things for the kids at a certain stage..there are no grants or loans for retirement and when you don't move in with your kids they'll thank you for it.

 

[Crystal_27]

I believe in letting the kids pay for their education and weddings. Well, I would help to a point, but not at the expense of my only true luxury.


MG

To the OP, I'm so sorry that you have to sell. Hopefully, once your finances settle down a bit, you'll be able to buy in again.

To MG, I absolutely agree with you!! DD's wedding (in, oh, about 25 years) is certainly a luxury that she will be bankrolling. We will chip in a set amount and she can do with that as she pleases. And, with regard to college, there is an expectation in my household that DD will get good enough grades so that she will qualify for scholarships...I was able to do just that and my expectation is that she should as well (hopefully, it all works out that easily - LOL).

 

[tmgandolph]

I agree with the other posters here. My parents helped me out with the cost of school but I had to take out loans or have scholarships to cover the rest (bulk). Luckily I work for the federal government and if you work fo them for 10 years and make your regular minimum amount federal student loan payments they will forgive your debt no matter how much you owe. Not too bad, though 10 years of payments is a lot but I wont have to repay the entire amount!

As for weddings we plan to save an amount for our twin daughters to have to use, and let them decide how they plan to use it. Toward a wedding or a home, etc.
We plan to buy DVC in the next year or so (too busy for a vacation now) but hope to have it available for possible honeymoon location (if wanted) or wedding place (again if wanted by either daughter).

But I understand you pain. I wouldn't want to pay MF and bank points if I couldn't afford to even take a vacation because the money was needed elsewhere. We didnt buy yet because I dont want to pay MF and finance a small amount of the points and not be able to take a vacation until 2012.
I hope everything works out for you!

 

[christa112]

With college and wedding costs going up and up. I think a lot of parents are having their children pay their own way because they cannot afford to send their kids to school. There is nothing wrong with it.

I hope in 10 yrs I am in a position to help my kids pay for college, but at the current trend, I am not so sure that is going to happen. We just purchased our DVC in April and I am possibly losing my job. That is a pretty scary thing.

 

[crisi]

I'm sorry you have to sell. It sounds to me like you aren't talking about paying for expensive weddings and colleges, but being able to help your kids at all - and if things are that tight, then I'd put being able to help my kids above DVC as well. I hope money frees up for you and you find a way to live your dreams.

 

[Coach81]

Don't worry.. you'll be back.. we'll keep the light on for ya!

 

[CSJLJJK7]

Thanks to all for the encouragement. Crisi is right however, with eight to raise and get out, giving them a full ride or extravagant weddings is certainly not our concern. Feeding them and helping them just a little with college and weddings is. I know selling is the right thing to do, its just hard as I have always dreamed of taking the grandkids to the World. Oh well, maybe the good Lord will turn things around and this is his way of us getting into BLT.

 

[robinb]

I paid for my own college education and wedding. My mom helped out a bit for college (maybe $150 per month) and my DH's parents gave us a couple thousand for our wedding, but everything else came from us. So ... I guess what I'm saying is that I don't think that kids are entitled to have their parents pay for their college education or their weddings. It seems like I'm not the only one who feels this way.

The big problem is that DVC sales are in the toilet. You will not get a lot for your points even if you sell. You may be better off renting out your points and pocketing the difference between the maintenance fees and the rentals fees of $10-12 per point. If you're going to sell anyway, I like the idea of adding on 50 points before you sell to keep you foot in the door, or maybe looking into a small SSR or OKW resale.

Good luck with what ever you choose! You can always get back into DVC via a resale when finances permit.

 

[Grumpygrandpa]

We have a tradition of paying for our own education in my family. I think it is a good thing for the most part. We also do super cheap weddings. But I know just raising a large family can be expensive. Just remember you can be happy with or without it. Though I hope you can buy in again soon.

 

[JLitfin]

Right now we have 3 in college, my DH and I have been saving for years in order to help with their college education. We told them if they go to a state school we will be able to help more since we won't be paying out of state fees. My oldest attended two years at a community college before transferring to a state school, my middle started at a junior college in NC and transferred to a state school after the first semester and my youngest is at a tech school in PA and is paying the most for his college. Once they go through their college fund then they will be taking out student loans. My DH wanted to help more but I told him why should we change our life style and vacations in order to pay for college bills. He agreeded so we are still trying to enjoy life and save for our retirement, while the kids are responsible for their own student loans. As long as we can do it financially we will be keeping our pts and enjoying our trips to WDW. OP good luck to you with making the right decision for you and your family.

 

[Tink-n-Belle]

Look on the bright side. There will always be resales!!! Look how much OKW & VB are selling for at this time.

You will be back. Your giving up to help your kids and I truly believe you will be rewarded.

I opened up a coverdell IRA (educational IRA) for my 2 kids and contribute $2000 a year to each one, which is the max by law we can contribute, if our budget allows. (by the time the oldest goes to college we should have $30k in it and the youngest should have 34K plus any gains-but considering the stock market which lost all of my gain thus far I can't count on that ) I told them at the time they enter college, we would do what we can to help them out beyond that point and it would all depend on our financial situation at the time.

Paying for college and weddings are totally a personal decision, but don't forget you need to enjoy yourselves, because you can get burnt out very quickly without having an out for yourself.

 

[Muushka]

OP, I just wanted to give you a and say that I hope you can return to DVC before you realize how much you missed it.

 

[mvc1997]

Hugs from us as well.
May your blended family always feel the love, & appreciate the sacrifices you've made. May your life be filled with happy rewards!

The purchase of 50pts for a hard earned getaway does make alot of sense tho!!
Great idea chatchdvc!!!!

 

[CSJLJJK7]

Thanks again to everyone for the hugs. I am not understanding the purchase of the additional 50 points. I guess it would be a separate contract and we could keep it? We already sold our 100 points at SSR, but still have our WLV points.