Nervous about buying...

[lenshanem]

Well, I think I'm about to call with a deposit, but all the sudden I'm nervous!
I would like some thoughts from those who might be like us...

We'll be buying 150 points, using the full MB option, laying down min deposit, financing for 10 years.
We're middle class, I stay at home with the kids soooo I guess this is a big deal to us to make this decision. 10 years seems like a huge commitment.

I always felt like DVC was for the rich, even seems that many who post on these boards have hundreds of points.
BUT... We do go to Disney once or twice a year and Disney makes us happy. I'm sure we'll get some flack from our family...
"Don't you want to go anywhere else besides Disney?!?"

I guess I just want to know there are others out there who are like us and felt they made a good decision.

Thanks!

 

[tvwalsh]

You don't always have to go to Disney! No other timeshare makes it as easy to go for a few night to some really nice places. I have been to the Royal Garden Hotel in London, The Grand Hotel in Michigan, the Plaza in New York, the Whitehall in Chicago, all through the Concierge Collection. You can stay for one night if points are a problem at any of these places and when you leave you get a bill for $0.00.

 

[SheriB]

Don't let other's possible opinions affect your decision. It's just that-YOUR decision. You don't tell others how to spend their vacation time, and they have no business telling you how to spend yours. If you're going to be at Disney anyway-it only makes sense. And after 10 years when it's paid in full, you'll still have 29 years of free accommodations (well, almost-still have to pay maint. fees).
We had cold feet when we were deciding to buy. Should we? Shouldn't we? Back and forth. But we decided that we like it at Disney, and even if we only go every other year, that's where we want to be. There's also so much more to do than Disney-you could never possibly get bored, and you could never possibly do it all. You also have the option of trading out, if for some strange reason you should get bored there.
We did the same as you-minimum deposit, finance for 10 years (hopefully wil be paying off within five, but financed for 10 just in case that plan doesn't work out). We bought 175 points, also small compared to some of the other mega points out there. No regrets. Can't wait to go home for the first time soon.
Only you can decide if it's right for you, if you can afford it, etc. But if it's right, and you can afford it, GO FOR IT! Good luck with your final decision! (go ahead, make that call!)

Sheri

 

[Pa@okw95]

You know about the annual dues and taxes?? Do you know about the point structure where the points on Friday and Saturday night are much higher? WDW has become a very middle class resort over the years so don't concern yourself about that, it once was a resort for the upper class but those days are long gone. What you should do is add up total cost of this situation that is your down payment, 10 years of payments(principal and interest) and the the annual dues that will go up some. Take the total and figure what it is really going to cost you over 10 years. Compare that with the coast of staying at a hotel in the WDW area and see what happens. Now there are people on this board that truly believe that DVC is a great buy, but you must do the figuring for yourself and make the decision. It seems you want to go to WDW anyway. Now keep in mind that you can stay around WDW certain time of year at some beautiful spots for what I would call cheap. Good luck

 

[vernon]

DVC is certainly not "just for the rich" , I think an important part of a DVCers make up has to be an ability to spot a bargain. If you plan to visit WDW on a regular basis DVC is likely to offer you a better standard of accomodation for a lower cost than you would otherwise be able to get.

As has been pointed out there are quite a few other options available other than Disney, but I think it likely you'll not use them very often LOL. Have fun

 

[TIdoublegaER]

Well we are not rich by any stretch of the imagination. We are firmly rooted in the middle class. 10 years does seem like a long time, but your payment will be the same every month and you can pay extra so it can be paid off early if you want. If you are already going to Disney once or twice a year anyway, you can use some of the money you would have used on the room to pay for DVC.

Who cares what your family thinks? Do what makes you happy! So what if you only want to go to Disney every year. DH's family only wants to go to the Lake of the Ozarks every year - blech! To each his own!

 

[tvwalsh]

Even though it has turned out to be a wonderful investment, buying into DVC was a lot harder back in 1992. Disney was not buying back contracts, there was only one resort, and there were no people who were wishing they had bought 11 years ago!

 

[mitcam]

We can totally relate to everything you say. We try and go at least 1x/yr. We are just about to purchase as soon as our equity loan comes through. We are seeing it as an investment of sorts. We vacation every year, now we will have better planning ability because we won't have to worry about where the $$ will come from, it will already be there in our DVC points!

We also felt the resale is good if we ever were to get into a bind.

As far as the rich people on the board! I have to say I think some of them don't even know how "rich" I think they are! But all have been kind to us middle class folk!

Hope to see you around dis-DVC since we are buying in the same timeframe we will probably be going through the same learning process!

Carolyn

 

[jaysue]

I am having the same concerns - spoke to my better half (DW) and she has agreed that we should get to Florida at least every March break and to WDW at least every other year - that has almost sealed it for me. It is kind of like standing on the dock wondering if I should jump into the water or not

BTW lenshanem, I sent you a PM if you could take a moment to read it

Thanks
JaySue

 

[Terry S]

Just wanted to say, you will hear from some family and friends "Why do you want to go to Disney for the next 39 year"? You will just have to ignore them, some people just don't get "it". I have friends who spend every weekend at their cabin up north. I can not even imagine doing that, that is just for them, to each his own. Someone once posted this:

For those who get Disney, no explanation is necessary, for those who don't no explanation will do.

I really liked that!

 

[Geebs]

I know exactly what you mean. My husband and I just bought 150 at BCV with MB and 10 years financing in February. We know that we probably should have waited a little bit since we were just married in August, bought a condo and all of the house fixings. But, we look at it as we get to go to Disney World ( my favorite place in the whole world) at least once a year..if not more. We are guaranteed at least 1 vacation a year ( we are firm believers that you need to get away from the stress of daily living). Here is some food for thought. One of the monthly payments is much less than one of my student loan monthly payments and far below my car payment. when you buy a car...it depreciates almost instantly and you keep making large payments on it. With DVC...at least you will keep getting trips out of it for 30 + years!.

 

[mitcam]

I love that quote! How true, how true!

 

[Maistre Gracey]

I am an impulsive buyer....always have been, and always will be.
After buying big ticket items (such as cars), I often have a fair amount of buyer's remorse.
After we bought DVC, I had ZERO buyer's remorse. I have been so happy with the decision, we have added on several times.
This was one of our few purchases that proved to be smart, and we are very happy with it.

Hope that helps.....

 

[Johnnie Fedora]

Vacations are always had to plan and save for. Being a DVCer will encourage you to plan for many wonderful family vacations, and a large chunck of the saving will be done already.

My wife and I have decided that time away with our kids is a priority for our family, and there is no better family place than DVC. Even if your budget is short and you can't buy park passes, a week in FL at a DVC resort can ba a vacation of it's own!! And don't forget about Vero and HH!!

 

[allicat]

Dont be nervous! I know its a long term purchase but its one that you wont regret! We joined last year with 210 points and will be taking 2 trips to Disney this year and we took one last year in a 2 bedroom. We wouldnt ever have been able to do that if not for DVC.
We love it and think its one of the best decisions we have ever made!

 

[mrsdon]

I have to agree with most of the posters here. Until we bought into the DVC vacations were something that happened IF we had extra money. You know how it is,,,, Something always came up and took the money. By making DVC a part of our monthly budget, we were pre-paying our vacations.
It was soo mcu easier to save for tickets and stuff like that. We were on of the lucky ones that had ticktes until 1999.

 

[littlestar]

I can remember thinking the same thing (that DVC must be for very rich people). We stayed at Wilderness Lodge on Labor Day weekend 2001 and I remember looking up at the VWL ( my husband I were at the quiet pool) and thinking, wow, that would be something out of a dream to be able to own DVC (I thought it would cost $20,000 minimum to do it).

Well, a year later when we took the tour by phone (friends of ours told us how affordable it was), I was shocked that it was actually reasonable. We were scared when we bought our first 150 points (at VWL). Two months later we added on 60 at the BCV. Then, this year we added 50 more at VWL. We are enjoying it so much. So 260 points later, I think we have enough for us. Maybe!

 

[Cruelladeville]

Disney has always been for middle class people--how many Michael Jackson's do you ever see in the lobby???? No, pretty much everyone is paying with credit cards, just like all of us. The difference is that you have figured out that DVC is actually the cheap way of staying at Disney every year. You are getting luxury accommodations, too!

Those of us with a lot of points aren't rich--our kids are grown, so we have more spendable income than many people, and this is how we choose to spend it. Even so, my first points were paid for by a small inheritance (to buy something I really wanted--my aunt assumed I would finally get the boobs I always said I wanted. I decided DVC was a better investment). All my contracts were taken out for 10 years, too.

I would be surprised if anyone belonging to DVC is certifiably rich

 

[Maistre Gracey]

Originally posted by Cruelladeville
...--my aunt assumed I would finally get the boobs I always said I wanted....

This seems to be an on going theme on the boards today...

 

[ncligs]

Originally posted by Cruelladeville
Even so, my first points were paid for by a small inheritance (to buy something I really wanted--my aunt assumed I would finally get the boobs I always said I wanted.