newbie help please!

[exgator24]

Ok. So I am very new to the DVC thing, but not Disney. We live in South Florida and go to Disney about 3 to 5 times a year. Usually, 3 days in Jan, 5 Days in March/April, 7-10 days in October, and 3-5 days in December. We love all the DVC resorts and like to stay somewhere different each time if possible. I have a few questions.

1) which UY is best or does it matter the way we travel?

2) any particular home resort we should buy to make sure we get our rooms?

3) as for the closing cost/escrow/fees...we don't have a large down payment, but the 10% is doable. I just want to know if closing costs are put into the loan or they have to be paid separately at closing. I know the loan origination fees ($150) have to be paid outright at closing, but what other fees and costs cannot be put into the loan (maintenance fees, etc). This makes a difference if we get a $10000 contract or $15000 contract.

4) if you have multiple small contracts at different resorts, can you only book that many points at the 11 month window. For example, if I have contracts at BLT for 30 points, VWL for 50 points, and BCV for 75 points can I book BCV at the 11 month window for 125 points? Or can I only book up to the 75 points at 11 months and hope to add more at 7 months?

I am a huge planner and need TONS of info before I can make a decision. I guess I just need to know it all, I don't like surprises! Any and ALL info that you could give would be greatly appreciated. Very nervous, but SUPER excited!!!

Thank you in advance,
Ashley

 

[disneynutz]

Read the DVC threads here on the DIS.

October would be the best UY.

I would buy SSR resale and stay where inventory is available.

If you could combine points for booking from different resorts at 11 months, everyone would only buy the least expensive resort, you can only combine at 7 months.

Bill

 

[sleepydog25]

Ok. So I am very new to the DVC thing, but not Disney. We live in South Florida and go to Disney about 3 to 5 times a year. Usually, 3 days in Jan, 5 Days in March/April, 7-10 days in October, and 3-5 days in December. We love all the DVC resorts and like to stay somewhere different each time if possible. I have a few questions.

1) which UY is best or does it matter the way we travel? I agree October would seem to fit you best given that's when you spend the most time. December would be my second choice.

2) any particular home resort we should buy to make sure we get our rooms? Any resort you buy as your home will be available, under most circumstances, at the 11-month point (it should be noted that places like VWL during the Christmas holidays or BCV during F&W generally book solid at the 11-month point). After that time, the most readily available resort at the 7-month point usually is SSR.

3) as for the closing cost/escrow/fees...we don't have a large down payment, but the 10% is doable. I just want to know if closing costs are put into the loan or they have to be paid separately at closing. I know the loan origination fees ($150) have to be paid outright at closing, but what other fees and costs cannot be put into the loan (maintenance fees, etc). This makes a difference if we get a $10000 contract or $15000 contract.

4) if you have multiple small contracts at different resorts, can you only book that many points at the 11 month window. For example, if I have contracts at BLT for 30 points, VWL for 50 points, and BCV for 75 points can I book BCV at the 11 month window for 125 points? Or can I only book up to the 75 points at 11 months and hope to add more at 7 months? You can only book one resort as your home resort for 11 months planning purposes. Any other resorts' points can't be used until the 7-month point. Since SSR is among the cheapest to buy resale and if you truly don't care where you stay, it makes that resort very attractive.

I am a huge planner and need TONS of info before I can make a decision. I guess I just need to know it all, I don't like surprises! Any and ALL info that you could give would be greatly appreciated. Very nervous, but SUPER excited!!! Definitely read more threads about the vagaries of buying into DVC before you make any decision.

Thank you in advance,
Ashley

Mostly reiterating what Bill said. . .

 

[dsnydaddy]

Ok. So I am very new to the DVC thing, but not Disney. We live in South Florida and go to Disney about 3 to 5 times a year. Usually, 3 days in Jan, 5 Days in March/April, 7-10 days in October, and 3-5 days in December. We love all the DVC resorts and like to stay somewhere different each time if possible. I have a few questions.

1) which UY is best or does it matter the way we travel?

Look for a UY just before you usually travel. Avoid a UY that is just after your usual travelling habits.

2) any particular home resort we should buy to make sure we get our rooms?

Buy where you will be happy staying. But if you are not picky then I recommend SSR. Can't beat the value.

3) as for the closing cost/escrow/fees...we don't have a large down payment, but the 10% is doable. I just want to know if closing costs are put into the loan or they have to be paid separately at closing. I know the loan origination fees ($150) have to be paid outright at closing, but what other fees and costs cannot be put into the loan (maintenance fees, etc). This makes a difference if we get a $10000 contract or $15000 contract.

MF cannot be put into the loan. We paid the 10% when we made the offer. Then the MF and closing costs at the beginning of escrow. I think that our "all in" amount was $2400 for a $10,800 purchase.

4) if you have multiple small contracts at different resorts, can you only book that many points at the 11 month window. For example, if I have contracts at BLT for 30 points, VWL for 50 points, and BCV for 75 points can I book BCV at the 11 month window for 125 points? Or can I only book up to the 75 points at 11 months and hope to add more at 7 months?

At 11 mos you can only book the points that you own in that resort. Remember that the more contracts that you purchase the more closing costs that you will pay.

I am a huge planner and need TONS of info before I can make a decision. I guess I just need to know it all, I don't like surprises! Any and ALL info that you could give would be greatly appreciated. Very nervous, but SUPER excited!!!

Read as much of the DVC area of the DIS as you can stand. It's all good info.

Thank you in advance,
Ashley

My comments in Red

 

[com_op_2000]

My suggestions in general:
Read these threads on the DIS and understand the following terms:
UY
HR
MF
11 month and 7 month booking windows
Concierge Collection
RCI
CM
MS
Then read some more.