Obsessing over adding on

[ajpruett]

I bought my first contract resale in November and finally, my first trip starts to feel like it is getting closer (in Sept). I have several trips booked this fall and winter and borrowed points from next year already.

I can't stop thinking about adding on. With prices falling and Disney turning a blind eye to ROFR, I can't help feeling like I buy right this second. Problem is I'd have to finance now, vs pay cash a year later.

What do others do when you can't stop thinking about adding on?

 

[walkdmc]

To me, it would depend on that financing issue. You'd better have pretty good terms to finance an add-on, IMO.

I would wait and see how you feel AFTER you've taken all these upcoming trips.

BTW, I did add-on when I was in your position. I had just purchased a 160 pt. contract, then wanted to add on another 50. Well, a 100 became available and I bought it. Then, I thought about the Grand Villa, for my upcoming trip and added on another 50, directly through Disney. Here I am 310 points later, with 100 extra, need to book before Oct., wondering how the heck I'm going to fit more than one Disney trip/year and how am I going to use 310 points? I really really wished I had waited a little before getting caught up in owning more points. (Oh, and I never booked the GV!!).

 

[wcpamotm]

What do I do?

I start thinking about the new roof my house needs and the other big expenses I've already done this year.

Maybe next year!

 

[adminjedi]

I bought my first contract resale in November and finally, my first trip starts to feel like it is getting closer (in Sept). I have several trips booked this fall and winter and borrowed points from next year already.

I can't stop thinking about adding on. With prices falling and Disney turning a blind eye to ROFR, I can't help feeling like I buy right this second. Problem is I'd have to finance now, vs pay cash a year later.

What do others do when you can't stop thinking about adding on?

We've added on 7 times and we are extremely borrowed
We peruse the resales and stay informed on direct pricing. We just keep saying "we have enough for our trips through 2013" we can buy more later. Take the trips you have planned and start saving to buy when you really need them!

 

[Dizny Dad]

On one hand, it is said that you can't be too rich; you can't be too skinny; and you can't have too many DVC points . . .

BUT, I like to live by what Sinbad described in the movie Coneheads as how to be successful in America . .

"Look good; pay cash, be your own boss."

Pay attention.

 

[adminjedi]

"Look good; pay cash, be your own boss."

Nice

 

[Presley]

Why don't you start a special savings account for your next add-on? You could put into it whatever your payments would have been if you took on debt for it. A year or two from now, you may have a better idea of exactly what you want to add on. Just a thought.

 

[saintstickets]

I bought my first contract resale in November and finally, my first trip starts to feel like it is getting closer (in Sept). I have several trips booked this fall and winter and borrowed points from next year already.

I can't stop thinking about adding on. With prices falling and Disney turning a blind eye to ROFR, I can't help feeling like I buy right this second. Problem is I'd have to finance now, vs pay cash a year later.

What do others do when you can't stop thinking about adding on?

We bought our first contract September, 2009 and immediately made ressies for May, 2010. Before we even took that May, 2010 trip, we purchased another contract in March, 2010. We have now purchased our 3rd small contract for a total of 150 points. With banking and borrowing, we can book at least one trip each year to each resort every 3rd year. With that said, I still have "addonitis" and would love to purchase more points. I agree that the low prices now are very tempting but I just can't justify financing anything for vacation purposes. Plenty of others do but not DW and I. At some point the resale prices will bottom out but it hasn't happened yet. We will wait a while longer to add on until we can pay cash. Not having debt sure makes you enjoy it a lot more!

 

[BeesKnees]

The problem is you have to predict your own future. Right now you are excited and booking beyond your yearly amount but later you may fall into a groove of going at specific times or for specific events.

Borrowing seems scary at first but it is just a tool. When you get to the place where you have the money and time to be there but not the points it may be time to add on.

 

[BirdsOfPreyDave]

What do others do when you can't stop thinking about adding on?

Pull out my most recent maintence fee statement.

It's like putting Calamine lotion on poison ivy. It doesn't make the itch go away completely, but it dulls it a bit.

 

[jel0511]

I bought my first contract resale in November and finally, my first trip starts to feel like it is getting closer (in Sept). I have several trips booked this fall and winter and borrowed points from next year already.

I can't stop thinking about adding on. With prices falling and Disney turning a blind eye to ROFR, I can't help feeling like I buy right this second. Problem is I'd have to finance now, vs pay cash a year later.

What do others do when you can't stop thinking about adding on?

I thought I had cured that specific affliction, hadn't added on in almost 6 years... But then realized my kids (13 and 10) really can't share the pull out anymore, so we had to up it to 2 bedrooms going forward. So of course here comes add on number 4! 200 pts at SSR. I HOPE I'm done!!!!

Pull out my most recent maintence fee statement.

It's like putting Calamine lotion on poison ivy. It doesn't make the itch go away completely, but it dulls it a bit.

I should have done that prior to my most recent add-on. My maintenance fees will be well over 3k per year now!!!!

 

[dzorn]

Pull out my most recent maintence fee statement.

It's like putting Calamine lotion on poison ivy. It doesn't make the itch go away completely, but it dulls it a bit.

Denise in MI

 

[SLM]

You will get alot of different answers, but you have to make the decision that's right for you! We wouldn't borrow money for vacations, but that doesn't mean it's wrong for someone else. I would take the vacations you have planned and revisit the idea. I have a feeling prices are not going increase (the resale market, anyway) enough that a year from now there won't still be some good deals out there!

 

[ajpruett]

Thanks everyone. I think I'm at the point to resist buying now but still gonna keep looking. The MF is a great idea. I know that by next April I will likely need to add on, but by then I'll have stayed at multiple resorts, get to know my vacation needs a little better, etc. Plus, several small bills paid off, condo is supposed to sell from where I moved (fingers crossed) and will have raise at work. I think I just always have to live beyond my means and DVC really accelerates that thought

 

[wdw1972]

Bottom line - if you can afford the points (cash) and the increase in your dues/MFs then another add-on is a good move. If the answer is no to either, then it's probably a bad move.

I also thought I was done - had about 15-16 contracts, over 1000 points, almost always using studios, so I easily get 80 or more nights per year for my points (long weekends). But, after several years (since AKV started selling) I was out of the market, but now I'm waiting for another resale to finish closing In my case I have plenty of points (and really high MFs) but my I needed more points in the BCV/BWV area so I added 150 at BWV. I figure since I have a few friends who like to rent points their money will cover my increase in the MFs!