New DVC Member with questions...

[Jaffa]

Hi there
my wife an I signed up a few weeks ago.....BUT...

after looking over the paperwork and our finaces....we have to bail out.....I'm bummed, someone please lift my spirits.....maybe we can sign up in a year or 2?

Thanks
Jaffa

 

[DVC Mike]

The total number of points at a resort will remain constant. That is, if you added up all the points on the point chart for a resort, it will stay the same. However, DVC can reallocate the points to bump up the number of points for certain nights, as long as they reduce other nights to maintain the overall total the same.

The only ticket discount is for the AP.

 

[Deb & Bill]

...1. Do point values for rooms change each year?
example...if a week at a resort fo 2009 is 250 points...will it still be 250 points in 3 years? Will the value of my points go down?...

They have been fairly static until recently when it was announced that the 2010 points would be reallocated. What that means that where one night/season/type of villa went up, it went down somewhere else. There are a limited number of points and they can be moved around among the seasons, among the nights, among the types of villas.

 

[Jaffa]

see the update on the first post!!!

 

[toniosmom]

Hi there
my wife an I signed up a few weeks ago.....BUT...

after looking over the paperwork and our finaces....we have to bail out.....I'm bummed, someone please lift my spirits.....maybe we can sign up in a year or 2?

Sorry to hear about that. You are smart not to get in over your head. Your time will come. Keep the faith!

 

[redrosesix]

Yes, you can sign up in a year or 2, and regardless of where you want to buy you'll be able to buy your points resale by that time -- that could save you a lot of money.

You might also want to consider buying half as many points as you need at first and only going every 2nd year (resales can be much smaller contracts than the required 160 points) -- or even do every 3 years with banking and borrowing.

You did the right thing not getting in over your heads -- now you can take some time to rethink the whole plan. I'm a member of the Timeshare Users Group (TUG) boards as well -- their advice for newbies is always to take 6 months to do research before buying any timeshare, DVC included.

 

[dizfan]

It's better to be financially sound than to get in over your head. You and your family will be thanking yourself for years to come.

DVC will always be around, whether it's resale or direct from Disney. It took us 5-6 years to purchase DVC. Every time we came close and then didn't purchase I was depressed for a bit. Spending time with my wife and realizing how fortunate I am always snapped me out of it.

Family is far better than anything materialistic.

Dan

 

[Rose&Mike]

I'm sorry it didn't work for you this time, but you will know when the time is right for your family. It took us years (I'm embarassed to say how many) to take the plunge, but when we finally did we had no second thoughts and knew we were in a good place financially. I second the idea of looking into resale for your original contract. It can save you a lot of money, if you find a contract that meets your needs. It sounds like you have made a good decision.

 

[GoofItUp]

I know how you feel. DH and I have been looking at this for about 2 years, and just are not in the right place financially to do it yet. It's KILLING me since we have a big family vacation coming up next summer and I'd really like to buy in and use the points for that. But, I keep telling myself I'll be glad we waited when we can fork over the cash and not have to make payments on a loan for future vacations!

 

[rentayenta]

 

[Jaffa]

Thanks for the good words of encouragement.

I was really bummed the other night when I had to call my rep and tell him we had to bail out....

I spent all night mad that I didn't make enough money for the family.
My wife told me I was crazy.

Thanks again all!

 

[JaysAGator]

But, I keep telling myself I'll be glad we waited when we can fork over the cash and not have to make payments on a loan for future vacations!

Very sound decision. Hope you guys can get in soon!

 

[SFD998]

We took almost ten years before we finally bought in. We looked at it on numerous occasions and just couldn't justify the costs. We finally bought in in November and wished we had been able to do it sooner, but we knew that would not have been the financially sound thing to do. Your time will come and you will see that waiting was the right thing.

 

[bumbershoot]

I spent all night mad that I didn't make enough money for the family.
My wife told me I was crazy.

Hubby feels that way sometimes, and I tell him he's crazy, too. I'm sure she thanks you very much for working hard for your family, even if this one little thing isn't possible right now.





By the way, it took us nearly 2 years from first finding out about it and having a tour to finally buy in. Inside that 2 years, things changed amazingly for us, with his job.

 

[Deb & Bill]

Thanks for the good words of encouragement.

I was really bummed the other night when I had to call my rep and tell him we had to bail out....

I spent all night mad that I didn't make enough money for the family.
My wife told me I was crazy.

Thanks again all!

We did that same thing - then sold two of our five contracts. Made it a littler easier to manage.

But as long as Disney needs to sell rooms, they should continue to offer some good deals. Hope those last as long as you need to wait.

 

[Metsoskil]

A couple of years ago we were in the midst of a DVC purchase when we, too had to call and bail out. For us it was a 40 pt resale contract at OKW.

We had saved up money for a year to be able to afford it without financing, and finally found a contract that fit us perfectly. We we so excited. During day 6 of our 10 day opt-out period, our roof started leaking horribly. The cost to fix it - almost exactly the same as the purchase price of the DVC. We backed out and were pretty bummed, as I'm sure you are now.

One year later we again saved up money for a purchase and now own 50 pts at VWL.

I'm sure it will work out for you, too.