Newbie ????'s

[mgdisney]

These may be the dumbest questions of all time, but I really would like to make sure that I understand completely, any and all advice would be a great help to me!

My hubby and I have been really thinking about buying into the DVC at Old Key West. Are we correct in thinking that when we buy the 180 points that those points will cover all costs for a weeks stay at this Resort and there are no other hidden costs?
(other then food, tickets etc, which falls to us)

Are the points awarded to you in the month in which you bought each year?

When I buy 180 points this year can I bank those for 2011 and use them along with my 2011 points to stay for 2 weeks in 2011?

Thanks in advance, I just really want to make sure I have it all right in my head! haha

 

[chalee94]

My hubby and I have been really thinking about buying into the DVC at Old Key West. Are we correct in thinking that when we buy the 180 points that those points will cover all costs for a weeks stay at this Resort and there are no other hidden costs?
(other then food, tickets etc, which falls to us)

There are point charts linked in the top right-hand corner. 180 pts will cover 7 nights in a 1BR in the 2 lowest seasons in 2011 but not the higher seasons. (The point charts can be reallocated from year to year, which can mean that your preferred time of travel can cost more points in the future – BUT the point chart for the resort for the year is fixed, so if one part of the chart gets more expensive, some other part has to get cheaper.)

tickets and food are on you, yes.

Are the points awarded to you in the month in which you bought each year?

Not exactly. Points are allocated to you on the basis of a “use year” – unrelated to when you buy. if your use year starts in October, then your 2010 pts are good from Oct 1, 2010 to Sept 30, 2011. Those points are already in your account and available for stays as soon as you get to the 11 month window for booking OKW. So to book a stay in Dec 2010, you could call in Jan 2010 and use your 2010 pts.

When I buy 180 points this year can I bank those for 2011 and use them along with my 2011 points to stay for 2 weeks in 2011?

Yes…but again, the details depend on your use year, which may take a little time to get the hang of.

Assuming an Oct use year: if you are staying in Dec 2011 – that is in your 2011 use year - so you can call in Jan 2011 to book using any of these combinations – banked 2010 pts/ current 2011 pts/ borrowed 2012 pts.

OTOH, if you have an Oct use year and are staying in August 2011 – that is actually toward the end of your 2010 use year - so you can call in Sept 2010 to book OKW using banked 2009 pts/ current 2010 pts/ borrowed 2011 pts.

You can bank or borrow to move points one use year ahead or back – but if you bank or borrow pts, you cannot ever put them back in their original use year – they will expire at the end of their new use year.

this thread is helpful in terms of understanding use year (which is confusing for many new owners):

http://www.disboards.com/showthread.php?t=1942668

 

[Crystal_27]

There is correct that there are no "hidden" costs other than the approximately $5.00 per point every year in maintenance fees, which maintenance fees will likely continue to increase every year. Good luck and hopefully we'll be welcoming you home soon.

 

[Danamy]

You should definitely be able to get a studio. 1br and 2br, etc are more pending timing of visit. Also, when considering your home resort ask about the dues as some resorts are more than others.

 

[mgdisney]

We are really just wanting to get enough points for a studio at this time.
Thanks so much for the info!!!!

 

[chalee94]

We are really just wanting to get enough points for a studio at this time.
Thanks so much for the info!!!!

depending on when you want to go, you might just want a 100 pt contract for a week in an OKW studio.

IIRC, DVC will sell you 100 (or more) pts at OKW that don't expire until 2057 for $90 per pt if you buy direct. resales can be had for less than that but most of the resales will expire in 2042 if that makes a difference for you...

edited to add: here is a link to historical maintenance fees per pt at the different resorts.