Need some input...

[kek5931]

DH, myself and our 4-year old just came back for our first week at disney and were 'wowed' by the DVC prospect. We know nothing about timeshares. We both liked the idea, but DH is more on board than I am, due to the cost, and that we'd be using our home equity loan to buy. DH "wants to travel", and looks at this as a way to stay at nice resorts in a plan that would 'pay for itself' over time, and he likes the 'Disney' name attatched to it (feels he can trust it more).
Do I think we'd use it? Yes. Do I think we'd go to Disney at least every other year? Yes. Am I crazy about the idea of having to pay on it for the next 50 years? No, but I am not a spender to begin with ( and DH certainly is).
Any input is appreciated, since this is a big decision.

Thanks.

 

[Crystal_27]

It certainly is a big decision but it sounds as if you and your DH are approaching it the right way: pros versus cons. Yes, it is a big expenditure and, yes, you will get to a point where you will break even. It sounds as if you've decided that Disney will be where you want to do the majority of your vacationing, so that's another step in the right direction.

DH and I have been looking at DVC for a couple years but, since we have loved to stay on the monorail, we opted not to buy in until this year when BLT was announced. It became evident that we were finally at a place where DVC was a perfect fit.

Make sure to also look at the new incentives that are rumored to come out tomorrow and see if those make the DVC decision more attractive to you. Also, do your research. Before we bought, I had no idea that you received different (better, in my opinion) incentives if you used the name of an existing DVC member (feel free to PM me if you want a referral). This board is also a great source of information and support.

 

[jandbmom]

We have been considering purchasing as well. We are staying at SSR in May and I was considering taking a tour. Has anyone ever purchased resale points? It seems like a better deal.

 

[Ed T]

Resale points are a good option however if you are not concerned about being members for a lesser amount of years then a resale would be a good choice. Also if you are interested in some of the newer resorts they may not be available at resale. There are some nice incentives being offered for buying direct as well that may offset some of the differences between resale and direct. You will definitely have to weigh all the differences and options.

Good luck

 

[MrsG]

Also keep in mind that with resales, you pay the closing costs which can be about $500. If you buy through Disney, they pay them.

Buying DVC has been one of the best decisions we ever made. We only wish we could have afforded it when our children were young. When I think of all the money we would have saved over the years, the inital money outlay and dues money we pay now pale in comparison, and we visited every three years! Needless to say, our children are now married, or engaged so now it is just DH & me that primarily use it. Although this year, both of our children are taking their spouse/fiance to WDW on points we gave them to use. It marks 20 years from the first time both of them visited WDW for the first time. Time does fly and DVC is a long term investment. Good luck with your decision.

 

[Lisa P.]

DH "wants to travel", and looks at this as a way to stay at nice resorts in a plan that would 'pay for itself' over time, and he likes the 'Disney' name attatched to it (feels he can trust it more).

Using DVC points to travel to non-DVC properties is an overpriced way of getting these vacations. There are many other, less expensive ways to travel to the same non-DVC, high-end resorts you could get through DVC.

Using DVC points to stay at DVC properties does exactly what your DH is suggesting. So a suggestion, in the interest of being a bit more frugal, is to figure out how many points you'd typically "spend" to vacation at DVC resorts (WDW resorts as well as VB, HHI, CA & HI) over a 2 year period, divide that number in half and only buy this number of annual points. Then utilize banking and borrowing to get what you want.

As for other "travel," consider travel packages, wholesale discounters and learn more about drastically reduced-price timeshare resales (even with solid companies like Marriott, Hyatt, Hilton, Wyndham, WorldMark, etc.) through web forums like TUG - Timeshare Users Group or TS4Ms - Timeshare Forums. Timesharing is wonderful with a family! Enjoy!

 

[Cmbar]

Also keep in mind that with resales, you pay the closing costs which can be about $500. If you buy through Disney, they pay them.

.

Thats only true for the older properties. You can buy BCV, BWV, VWL, OKW through Disney and they will pay your closing cost. BCV and BWV are 106 per point, VWL is 101 and OKW is 96 I think. Disney will pick up the closing cost on these, however you have to buy a minimum of 160 if you are new member.

If you buy BLT,AKV and SSR you have to pay the closing costs. SSR and AKV you can buy in for only 100 and BLT is a 160 minimum. I was told that if we purchased 160 BLT and paid cash then our closing was around 250. So it isn't really a big deal.

Now with resale you will have to pay closing costs, but this is something you can ask the seller to pay!

I personally like the older contracts now that I have thought about it. I like not being committed to Disney for 50 years. I think if in 32 years we still love Disney we will have added on at some of the newer properties. I don't think I will regret buying one of the older properties. just something to think about.

 

[shortypots]

Also keep in mind that with resales, you pay the closing costs which can be about $500. If you buy through Disney, they pay them.

This isn't the case anymore unless you are a current member adding on. The now charge new members closing costs. They are less than if you bought through resale, but they are now charging them.

 

[fers31]

Definitely look into resale. I saved over $5000 and got a fully loaded contract with banked points as well. If I bought the same points now though (with SSR in the $65 range), I would have saved around $10,000.

 

[Crystal_27]

We have been considering purchasing as well. We are staying at SSR in May and I was considering taking a tour. Has anyone ever purchased resale points? It seems like a better deal.

You should definitely take the tour - - if nothing else, you'll get some VIP FastPasses and free ice cream out of the deal. DH and I debated the resale option and we were so tempted because it is such a cost savings (almost half the cost) but, since we want to stay on the monorail, I didn't want to have to fight with other DVC owners at the 7-month mark to book at BLT. For us, the home resort was a top decision-maker and I think that it was the right choice for us. During our March trip, we had to ride the busses for the first time to MK and Epcot, and DH and I found ourselves so frustrated by the end of our trip because it took so darn long to get anywhere (compared to the monorail). The busses may work great for many families, but we realized we were just too monorail-spoiled - LOL.

 

[Dean]

DH, myself and our 4-year old just came back for our first week at disney and were 'wowed' by the DVC prospect. We know nothing about timeshares. We both liked the idea, but DH is more on board than I am, due to the cost, and that we'd be using our home equity loan to buy. DH "wants to travel", and looks at this as a way to stay at nice resorts in a plan that would 'pay for itself' over time, and he likes the 'Disney' name attatched to it (feels he can trust it more).
Do I think we'd use it? Yes. Do I think we'd go to Disney at least every other year? Yes. Am I crazy about the idea of having to pay on it for the next 50 years? No, but I am not a spender to begin with ( and DH certainly is).
Any input is appreciated, since this is a big decision.

Thanks.

I love DVC and feel it is a great choice for many. It is likely not a good choice to finance such a luxury purchase and it is an extremely poor choice to buy DVC to travel to other places. I'd say buy around the number of points you'd use for every other year (EOY) when you do go to Disney or just over, maybe a 10% cushion if you're looking at full weeks in larger than a studio, a slightly larger cushion if you're looking at mostly weekdays or studios. You can pay cash for the non DVC trips or better yet, look at non DVC timeshares once you're more comfortable with the concept.