Newbie Considering DVC "promo"

[Morley Dotes]

First, let me thank many of you for the posts I have already read. They have been informative (though figuring out some of the abbreviations still has my head a bit foggy) and useful. With that said, I have a few comments and questions and would appreciate any help and/or words of wisdom.

Today we came back from a 5 day trip to the Boardwalk, which was AWESOME. We have two children (1 yr and 2.5 yrs old). We took the tour because we thought it would save us money in the long run to have a time share here. I don't quite understand the "home base" situation, but was told by the person at Disney that it should be at the Saratoga. We would likely stay at the Boardwalk Villas, because it was such a great trip for us. I noticed most people were not very thrilled about paying $101/point. They are currently offering us $13 or $8 off, depending on what we do with the points. I think if we do not plan to use the points this year, we get $13 off....we do plan on making a trip in December (first or second week with any luck).....So, would you think it much better value at $93/point? If so, should we buy all the points from Disney....200-300? Can we buy the minimum from Disney and the rest from a reseller? Would we be penalized by Disney? e.g. no Magical Express? Btw, we have 72 hours to take advantage of this offer. The only thing that bothers me is making vacation plans so far in advance. We made this trip with two weeks notice. Can I still do that with Disney Vacation Club? Also, I was told that the dues would be (rounded up) $4 per point per year, so 300 points would be just under $1200. Are there any other fees I might expect?

The one good thing, we did get a very nice extended check out by going on the tour, which took about an hour and fifteen minutes. (They gave us a 3 hour extension).

I hope I placed this in the right forum. If not, my apologies. I hope I made sense, it was quite a flight and I am almost falling asleep.

Many thanks for your anticipated reply.

 

[rinkwide]

...I don't quite understand the "home base" situation, but was told by the person at Disney that it should be at the Saratoga. We would likely stay at the Boardwalk Villas...

Call these guys before you make a huge mistake.

 

[Pooh Pooh]

If you read these boards enough you will see that most everyone suggests that you buy where you think you will spend most of your time. If you like BW as much as you say you do I suggest you purchase points there.

 

[tomandrobin]

I would also suggest to look at resale at the Boardwalk. That seems to be where you want to stay.

The "Home Base" gives you the oppurtunity to make a reservation 11 moinths out. At the seven months out, all the other DVC members are allowed to book into the remaining units at the other resorts.

If you need extreme short notice (2 weeks) for all your booking needs, I would buy the best deal you can get. Since with so little notice, there is not much of a guarentee of you getting into the Boardwalk area on such notice.

The maintenance fee is the only fee, unless you trade out.

One thing to keep in mind when making your purchase. Thru DVC there is no closing costs, thru a third party there will be additional cost. You will need to add them together to compare apples to oranges.

By the way, you can buy Boardwalk units thru DVC still, just ask.

Buy where you want to stay and see yourself using over and over again.

 

[bom_noite]

I don't quite understand the "home base" situation, but was told by the person at Disney that it should be at the Saratoga. We would likely stay at the Boardwalk Villas, because it was such a great trip for us. .

When you buy in you buy at a certain resort. This is your home resort. You can book your home resort 11 months in advance. You can book other DVC resorts 7 months in advance.

This becomes important because if you buy at Saratoga (SSR) you may not be able to get Boardwalk (BWV) at 7 months. This is why so many people on this board always say: Buy at the Home Resort you feel like you want to stay at!

Note: Many Members have points at multiple resorts. If they do this they can book at the 11 month mark for each of those resorts they own at. Assuming they have enough points for the rental.

I noticed most people were not very thrilled about paying $101/point. They are currently offering us $13 or $8 off, depending on what we do with the points. I think if we do not plan to use the points this year, we get $13 off....we do plan on making a trip in December (first or second week with any luck).....So, would you think it much better value at $93/point? .

A comment about the December thing. Not sure if the first 2 weeks is real high demand time - but - If you plan making trips to WDW during high demand times (Christmas, Spring Break, Summer, etc.), then, you would be advised to buy at the resort you want! In this way you are guaranteed to get the resort you want! If you buy at SSR and then want to stay at BWV on X-mas you would have to reserve at the 7 month mark - and - you would have little chance of getting it!

Also - I am a bit lost. It appears that the guide pushed you to buy at SSR - but - relented and said "Ok - you can buy at BWV for $93".

If I am correct and you want to buy at BWV - then you have 2 options:

1) Buy through WDW.
2) Buy through resale (look at the top of page for a link to a very good reseller).

And, based on what you are saying - my I would personally opt to buy through DVC for the following reasons:

1) Costs: Looking at the BWV contracts on-line they tend to be about $7 cheaper per point (about $84) - but - with a reseller you have to pay closing costs! So, in the end how much are you saving?

2) Points: You would be able to get the exact number of points you want through DVC - through the reseller you must buy a contract for the points being sold.

3) Speed: With DVC your contract would be done in a day or two and you could make the December ressie immediately. On a resale the contract must wait to close. Read the boards and learn what Right of First Refusal (ROFR) is. DVC holds ROFR on all resale contracts. If the price is too low - then - they buy the contract from the seller and you are out in the cold and must start again! Even if you do pass ROFR - then - it can take a long time before you can make a reservation! (Contract paperwork, DVC must add you to the database, etc.).

Now, if I am wrong - and - DVC is only offering a SSR contract - then I would advise buying through the reseller!

If so, should we buy all the points from Disney....200-300? Can we buy the minimum from Disney and the rest from a reseller? Would we be penalized by Disney? e.g. no Magical Express? Btw, we have 72 hours to take advantage of this offer.

Sure - but why? Based on my prior comments I guess I do not see the advantage of buying half through DVC and half through a reseller.

To your question on penalties - no - you are not penalized in any way if you buy through a reseller! Once you are a DVC Member you are a DVC Member with any and all privelages!

The only thing that bothers me is making vacation plans so far in advance. We made this trip with two weeks notice. Can I still do that with Disney Vacation Club? Also, I was told that the dues would be (rounded up) $4 per point per year, so 300 points would be just under $1200. Are there any other fees I might expect?

We have gotten used to planning in advance. It just go's with the product. You will adjust! And, yes, you can take vacations with little notice! But, keep in mind that if you decide you want a 2-Bdrm at Beach Club two weeks before spring break - you will not get it! But, keep in mind that I cannot call 2 weeks before X-Mas and expect to stay at the Poly or Grand Floridian either!

But, if it is off-season - you should probably not have a problem finding a room at one of the resorts.

Also, I was told that the dues would be (rounded up) $4 per point per year, so 300 points would be just under $1200. Are there any other fees I might expect?

The dues vary per resort. Do a search of this board and you will find the membership dues history for each resort. They are all basically the same. And, no other hidden costs are present.

Good Luck with your decision!

 

[bom_noite]

Since you may be making a financial decision based on my comments - I wanted to make one more comment I said:

"Costs: Looking at the BWV contracts on-line they tend to be about $7 cheaper per point (about $84) - but - with a reseller you have to pay closing costs! So, in the end how much are you saving?"

My math was obviously wrong! $84 is in $9 less then DVC offered! Assuming closing costs on a resale are $3 per point then, the savings on a resale may be enough to buy 2 or 3 Annual Pass's!

I really do not know what the closing costs are - others on the board do! But, I think you would be best advised to call the folks at the Timeshare Store and run all of the questions through them! They are experienced with this stuff and will have a much better feel on this!

Again, good luck!

 

[stampinshauna]

Do buy where you are most likely to stay.

Also realize that SSR has 12 more years on it than the others. DH and I bought SSR because we wanted the extra years and don't really care where we stay as long as it is on site.

 

[Montana Disney Fan]

If BWV is THE choice for you, follow rinkwide's advice and purchase resale at the Timeshare store.

We purchased SSR two years ago for $89 and I'm glad we did. However, in retrospect, we probably should have purchased resale at BWV also since we like Epcot so much.

I have to say tho that we've stayed at all the DVC resorts (except our home resort, SSR) and loved them all. We really don't have a favorite anymore. They are all so different and it's nice to mix it up each year.

We stay at SSR for the first time this October but we're on the waitlist for a 2-Bedroom at BWV so we'll see what happens. One thing we know for sure, no matter where we stay, it will be an awesome time.

 

[sagwanamu]

And if you buy more than 200 points, I would suggest you to split it up into 2 contracts (Minimum 160, plus an add-on) if you buy from DVC. It does not cost you more but more paper to sign. This will come in handy when you have to resell. Smaller contracts are easier to sell and most of often at better price than large contract.

 

[bom_noite]

And if you buy more than 200 points, I would suggest you to split it up into 2 contracts (Minimum 160, plus an add-on) if you buy from DVC. It does not cost you more but more paper to sign. This will come in handy when you have to resell. Smaller contracts are easier to sell and most of often at better price than large contract.

That is a fantastic tip - I am sure it has been passed on before on the board - but - my first time hearing it!

And, it answers a question I had: I guess you must sell a contract as an entire contract? I ask this because I saw a 1000 pt OKW contract on the Timeshare Store! I was wondering why they did not try and break this up in to 50 pt chunks and sell them off!

Now I know.

 

[byoung]

I also perfered staying at BWV. That's why I bought there last year from Disney. I like being able to book there at the 11 month.

 

[Morley Dotes]

Thank you all for your awesome replies and help. There is a lot to take in. I calculate, at the current rates, 150 points would end up costing me about $895 per year for 48 years.....about $40K ish. I just realized that, although my kids are free to go whenever we want, when they start school, that will change, and I may be stuck going during peak/holiday times. Now I have to go back and see what it would cost me in points for those times.

As an aside, the driver that took us to the tour, was also a tour person. She told me that SSR would be finished by May. So I asked, "And what's next?" She said they would be finding out at the end of this month. Perhaps that is why they are offering this discount??

Anyway, I am still on the fence, mostly because I am still trying to figure out what is going to happen in a few years when school schedules become a factor....and perhaps the MAIN factor.

I would like to ask.....I notice on the reseller site and in several posts, there are months listed for use. I thought that once you have your points, you can use them whenever you wish. Is that incorrect?

Again, many, many thanks for your help and advise. It is greatly, no, GREATLY, appreciated.

 

[prez65]

Thank you all for your awesome replies and help. There is a lot to take in. I calculate, at the current rates, 150 points would end up costing me about $895 per year for 48 years.....about $40K ish. I just realized that, although my kids are free to go whenever we want, when they start school, that will change, and I may be stuck going during peak/holiday times. Now I have to go back and see what it would cost me in points for those times.

As an aside, the driver that took us to the tour, was also a tour person. She told me that SSR would be finished by May. So I asked, "And what's next?" She said they would be finding out at the end of this month. Perhaps that is why they are offering this discount??

Anyway, I am still on the fence, mostly because I am still trying to figure out what is going to happen in a few years when school schedules become a factor....and perhaps the MAIN factor.

I would like to ask.....I notice on the reseller site and in several posts, there are months listed for use. I thought that once you have your points, you can use them whenever you wish. Is that incorrect?

Again, many, many thanks for your help and advise. It is greatly, no, GREATLY, appreciated.

The use year is the month you receive your points and the mark of when you can start booking your resort: If your use year is october you will receive your points every year in october and can start making ressies for your home resort starting november.... 11 mos in advance or other resorts starting march..... 7 months in advance.

 

[DrTomorrow]

Welcome, Morley Dotes!

Glad you are FAB on SSR or BWV! Try not to worry about ROFR, I'm sure you'll be talking with MS PDQ about BCV, OKW or VWL. Maybe even calling ASAP about ADRs for CRT.



Yes, the abbrevations are bit much at first, but if I had to type Saratoga Springs Resort instead of SSR every time, I'd go madder than I already am.

Here's a link to many abbreviations used here on the DIS.

 

[bom_noite]

As an aside, the driver that took us to the tour, was also a tour person. She told me that SSR would be finished by May. So I asked, "And what's next?" She said they would be finding out at the end of this month. Perhaps that is why they are offering this discount??

I am not really sure that $93 is a big discount. Existing DVC Members can add points for $92 (not sure the price on SSR for existing members - but - check around the boards and it is here).

Actually, DVC is most always adding incentives and discounts. I am more inclined to think the guide gave you a deadline to prompt action.

But, I could be wrong.

ON what is next, there is alot of speculation on this. Originally DVC had announced a new resort at "Eagle Pines" (just to the east of Wilderness Campground near the golf courses. But, this got scrapped because of SSR.

The rumors of the day on this and other boards is that the next resort will be next to the Animal Kingdom. The other persistent rumor is that they will refab portions of the Contemporary for DVC!

 

[Morley Dotes]

Many thanks, again! So, now thatI have that down, I just really have to compare the vacation times that I will be "locked" into with the children's school schedule.

Do I get the same perks if I buy from a reseller, e.g. magical express, etc.? Can I make a counter offer to what the prices are listed at?

Dr, ty for the abbr. link, it was very helpful, and though I am not a VIP on the DISB, I hope to pick up the lingo ASAP.

 

[dvc-NE]

.

I don't quite understand the "home base" situation, but was told by the person at Disney that it should be at the Saratoga.

Things that make you go,"hmmmmm." Don't forget "Morley"
that DVC guides are professionally trained real estate people that understand the wants and needs of their customers. In fact, if you have a need for financing, they will be more than happy to assist in that arena as well.
Sometimes we tend to "overthink" things, in golf we call this "paralysis by analysis." For a "newbie", you have thought things through alot more than most veterans here would have. My best advice would be to try not to overthink things and listen to what your guide has to offer.
Good luck with your decision, the hardest place to be with DVC is on the fence.

 

[mikesmom]

Many thanks, again! So, now thatI have that down, I just really have to compare the vacation times that I will be "locked" into with the children's school schedule.

Do I get the same perks if I buy from a reseller, e.g. magical express, etc.? Can I make a counter offer to what the prices are listed at?

Dr, ty for the abbr. link, it was very helpful, and though I am not a VIP on the DISB, I hope to pick up the lingo ASAP.

You get all the same perks no matter where you bought the points - a member is a member.
As to your other question, yes you can make a counter offer, but be careful. You can't really "cut a deal" with DVC points. If you offer too low, Disney will step in with their "Right of First Refusal" (ROFR) and snatch the points out from under your nose. If you watch these Boards you will see threads tracking the price that is getting past ROFR. Also the agent at the reseller should know what is clearing in his/her experience.

 

[tomandrobin]

Do I get the same perks if I buy from a reseller, e.g. magical express, etc.? Can I make a counter offer to what the prices are listed at?

The only difference from buying resell or direct are......

With DVC you can make almost immediate reservations with your new membership, Resale you have to pass ROFR before you can complete your purchase.

With DVC no settlement costs, Resale closing costs (add to point cost to get true point coast to compare).

With DVC you get full use of points, you need to make sure with resale that the points have not been used or borrowed. DVC was offering the current years points plus the upcoming use years points. Kind of like getting an extra year.

Other then that, its all the same. Its just a matter of cost and time of use.

 

[bom_noite]

One comment - the ROFR - if you buy through a reseller is your worst enemy! That is until you are a member - then - it becomes your best friend!

Most Timeshares plumment in value the second the ink is dry. DVC prices have actually increased over time! This is due, in large part, to the ROFR! If someone trys to sell a property at too low a price - DVC comes in and snatch's it up!

But, like the previous poster mentioned - the folks at the Timeshare Store have a pretty good idea of what will and will not pass ROFR since they deal with so many contracts!

But, even if you offer a price that has passed ROFR last week - you have no guarantee that it will pass this week!