Newbie here, read all the FAQs & still have some???s

[welovedis]

I apologize if my questions seem pretty basic but we are trying to get a better understanding of the DVC workings. I realize that you decide on how many points you want to purchase and the cost thru DVC is about $84/point, you have a use year and a home resort. What I don't understand is what additional charges are there?

If I buy 200 points and pay $84, that is only $16800, so there has to be some maintenance fees or closing costs right? I've looked but since I can't use the search function I've been unable to find any info on past threads.

TIA everyone!

 

[burnsoc]

Hi,
There are no closing costs or taxes, the price per point includes that. However you do have to pay dues (maintenance) every year. I believe my dues were $3.93 per point this year, if it's not right it's within pennies of that. I hope this helps. BTW my wife and I love DVC and haven't regretted buying at all. -Chris

 

[zulaya]

Yes, you do pay dues. Really your best bet is to call DVC and say you are interested in buying. It's totally no pressure. They send you this info packet in the mai. It has info on resorts and at least when we bought last year, a nifty table that shows how much points cost and how much the dues are for that number of points.

There's no obligation to buy anything by requesting this info. I think we were called once to see if we had questions, but were never called again. Now that being said, I called back the next day with the deposit and had them send me the official paperwork to buy in, so...

I think their phone number to get this type of info is on the public DVC website which is http://www.disneyvacationclub.com

So call them up and get the reads on it, you'll feel better having all that info in your hands.

 

[welovedis]

Thanks so much for the info, I'll be calling this afternoon!

 

[spiceycat]

you can call my guide - Judy Kaufman 1-800-827-7163 - she is a very sweet lady - no pressure at all.

She has a lot of customers from this website. I don't think I have ever heard anything bad about her.

 

[reneesam]

Karen,

One more thing...

Closing costs are not included if you buy resale, and the buyer usually pays these, although in some cases, they may be split between the buyer and the seller. These vary based on the value of the contract. The maint. fees can be paid yearly in a lump sum or monthly via automatic transfer. The fees do vary by resort and also vary year to year. Currently, OKW has the lowest annual fees and Vero Beach has the highest. If you buy from Disney, your fees will be prorated depending on your use year. Again, this may vary with resale and depends on the seller's demands.

Also, there are incentives called Magical Beginnings whereby you can forgo use of your first years points (or part of them) to reduce the cost per point of your initial purchase, usually $10-15/point depending on resort. These are not always available, but, for example, BCV currently had MB for $10/point.


Please ask all of the questions you need to and get the book and video. Good luck...hope you come Home and join DVC!

Renee

 

[reneesam]

PS: Another thumbs up for Judy K. She's delightful!

 

[jimmytammy]

You will still have questions after getting package and thats OK. We are still new members (1 yr this past Jan. ) and we still have questions but I dont regret at all joining. We get to stay at places that are way above what we typically could afford which gives us more room and a whole lot more amenities.

My advice to you is dont do like we and so many others did, that is to wait to buy and the price per pt. kept going up. We could have purchased for $10 less per pt. one year earlier when we first started looking at DVC. We talked ourselves out of it and I finally had to stop beating myself up about it. If you love WDW and know you will go at least every other year for a real nice trip or like us will go every year, you are good candidates for DVC.

Good luck and hope to be saying welcome home real soon!!

Jimmy