On the fence about buying into DVC! Help!

[backyardponder]

#1, make sure you can afford it. Don't put your future in jeopardy with finance charges, annual dues, etc. unless you can really afford it. Don't forget kids' college expenses, etc.

If you decide "yes, we can afford it", then consider buying resale. Check out the web sites for some of the resale companies. The sponsor of these boards, at the top of the page, is one of these companies which has a great reputation.

Good luck with your decision.

 

[brigitteparker]

The money is one of the reasons that i do want to buy it now. we don't have any kids yet and we have been on so many vacations in the two years we have been married. i feel that this is a good way to justify these vacations to my husband!! I keep telling him that it is like a prepaid vacation plan. we are paying for the vacations that we will take in the future and i like that better than paying all at once.

have people been finding cheap airfare to disney when they need it? i figure you can book the rooms and then look for good deals. is this what most people do?

 

[rhonimouse]

We just bought at BLT, 160 points also. We travel at Thanksgiving Christmas and Spring break. I also want to use AKV but bought BLT so that I would have the 11 month window there- it is a smaller resort and it is the closet to the Magic Kingdom ( my fave). It also has smaller annual dues than AKV because the amount of space being maintained is smaller ( high rise vs. acreage at AKV). Since AKV is larger I thought my chances are better at the 7month window vs similar situation at BLT.....

 

[rhonimouse]

by the way, it may be cheaper now to stay at the values, but over time ( 10 years) it will be cheaper- just annual dues- to stay at much nicer DVC resorts...it was that thought that finally convinced my husband to buy now...

 

[AirGoofy]

We joined DVC last year. We have went to WDW every year now since 2005 and wished we had joined earlier. If you know you are going to vacation every year at WDW, then DVC is definitely worth it. As for time shares, no black out dates and your choice of moving resorts. Granted, this is still new, but we had no problems at our home resort SSR earlier this year, and at the 7 month window for OKW this year.

I think the main 2 questions, like others have said, are you planning a vacation every year to WDW, Orlando, or another area with a Disney resort (Hawaii, Vero Beach, Hilton Head, Disneyland)? Also, you don't need to finance it. DVC is not a good deal if you have to finance it. Save and pay for it outright. Also, check out the official sponsor website. You may be surprised.

 

[brigitteparker]

have a lot of people had to finance the dvc?!?! i still thought dvc would be a good deal even if we did finance it.

that is what we were planning on doing. i was going to put so much down and then pay the monthly payment. i would probably end up paying it off earlier than the 10 years so that would save a little bit of money.

 

[taurus8012]

Trust me I understand you being on the fence................that was me for two years . Living in Syracuse careers here is not very stable but I always made sure that we go on vacation every year. While on the fence I noticed three things that was different from my last Timeshare(Westgate) and that was flexibilty,resale value ,easy to rent your points and its the main reason people come to Orlando. I agree with what others say "I wish I would have bought sooner. Think about when I bought AKV was 88 point now look at it, now people are speculating now that the price per point could go as high as 110-120 a point ......as you wait the price will always go up on the DVC as well as the Disney Hotels ............believe me you will not regret make sure you get every incentive imagineable no need to pay more than you have to.....ps We went the financing route. It was pretty simple dont have to have great credit to qualify.

 

[Sandisw]

have a lot of people had to finance the dvc?!?! i still thought dvc would be a good deal even if we did finance it.

that is what we were planning on doing. i was going to put so much down and then pay the monthly payment. i would probably end up paying it off earlier than the 10 years so that would save a little bit of money.

There is a lot of debate about the whole issue of financing. My feeling is that you have to look at your own circumstances and decide from there.

I do think, that if you finance, you have to look at those costs as part of it, but it can be a good deal, even with that.

When we decided to buy, what I did was look at what I have been spending on my yearly trips to WDW. Our room costs (since we stayed at CR most of the time) were running between $2000 - $2500 per year.

Since I was going to continue to go to WDW and spend that, I decided that as long as I could buy and keep my yearly costs (payments, interest and MF's around) that same amount, DVC was not costing me MORE than I was paying to stay on cash.

As long as I wasn't spending more, I felt it was a good deal, especially since I knew that once I paid off the loan, I would be spending a lot less each year for my trips. Luckily, I was able to work things out (using my Disney Visa) that I didn't end up needing to finance through Disney.

But, to me, there is really no difference between spending $2500 per year for a loan and MF's or spending that same amount of money to pay for my stays at a WDW hotel--as long as you can afford it, then it works!

Good luck!

 

[bookwormde]

I would suggest buying a smaller 50-100 point resale contract to get you feet wet and be able to pay it off in 1 or 2 years. You can always do cash DVC (hopefully with the 25% discount) or even some CRO deals to fill in the extra days (this works really well if you do your weekdays on points and you weekends cash). Then once you are a member you are likely to be able to add on 25-point increments, as you want for cash (or 50 point if you need to finance).


bookwormde

 

[redrosesix]

I would suggest buying a smaller 50-100 point resale contract to get you feet wet and be able to pay it off in 1 or 2 years. You can always do cash DVC (hopefully with the 25% discount) or even some CRO deals to fill in the extra days (this works really well if you do your weekdays on points and you weekends cash). Then once you are a member you are likely to be able to add on 25-point increments, as you want for cash (or 50 point if you need to finance).


bookwormde

Good idea.

We're doing this since we've been ok with staying in a room at the values but we go every year at peak times and buying DVC will save us money over time. The next step up from a hotel room is a studio, not a 1 bdrm, so 160 points is likely more than you need if you only go every second year. Take a look at the points charts and figure out the max points you'll need for your possible travel dates.

Yes, you can get great deals on resort rooms sometimes, but for those of us who have limited times to travel or do longer trips and would rather be able to prepare some meals, DVC makes a lot of sense financially.

 

[castleri]

If you really want to be able to stay at one particular resort and can plan ahead then buy that resort so you are not disappointed. tried to book AKV for the week after Christmas at exactly 7 month date at 9 am - no luck for a 2BR savannah view. ( My son wanted us to stay there for his daughters first trip to Disney) The waitlist has not come through. If you don't care where you stay then the suggestion to buy resale at SSR (if you can get financing if you need it) and try for other resorts at 7 months is a good one. I would also consider an OKW contract resale. I thought I would really want to stay at BCV a lot and have a 150 point contract there that I bought presale before it was available to the general public. We have stayed there a total of 4 times and have used the points at OKW, SSR and AKV all the others. My first choice is always OKW except the few times we need a studio for just 2 of us and then it is one of the others.
Based on what we paid per point in 1997 and maintenance fees for this year our 2 BR at OKW for 12/27-1/1 (highest point season) will cost approx $1384 while booking through Disney would have cost $5063 for the same room and time frame. A studio for the same time would be $ 478 versus $2391 for OKW or $1013 for a value resort for the same time. We were fortunate in not having to finance so my numbers are lower than someone who has to figure that into their cost. Obviously lower rate seasons and speial offfers from Disney for free dining or pay for 4 and get 7 nights can make a big difference. However if you need to stay during holidays or special times when these discounts are not available DVC can certainly pay for itself over time.

 

[ua1992]

Go for it -- we only live once and can't take it with us !!

 

[brigitteparker]

that's what i keep telling my husband! i love to vacation and I know that i will def. use the dvc quite a bit. my husband can take vacations or leave them and I am def. NOT that type of person. i need my vacations and i need them often.

I do like seeing the number aspect. we are planning on financing dvc if we get it but i am planning on paying it off early. this may all be in vain because by the time we decide the incentives might be over.

 

[StitchFan73]

OP-thanks for posting this thread.

PPs-you guys are all brilliant! Thank you I have gotten a few new angles on buying a DVC, that I hadn't considered.

 

[majortom1981]

The dues at akl are higher because of the animals. AKL if you want savanah migiht fill up fast during buisy months.

AKL also had and has some great incentives so if akl is the resort you guys like the best i would buy there. Heck i got a great 100 point starter deal with a good discount.

 

[DenLo]

You might want to look at the resale market. You could probably get a resale at SSR for $65 to $70 per point. I know alot of people don't seem to like SSR as much but you would get better rooms then in the Value. I think SSR dues are also the second cheapest. I can't say how hard it would be to make reservations overall but from what i read seem you can always get a room at SSR. I should know soon cause I am just waiting on my paperwork to come back.

Here is my input.
1. Do you vacation at WDW every two years and do you plan to do so in the foreseeable future? If yes, go to #2.

2. Do you have the extra cash for your loan, dues, airfare, and food? If yes go to #3.

3. Buy where you love to stay.

I agree with both of the above. However....

Sorry to be a wet blanket, but BLT will be going up to $120/point in October. Also if you reserve a room at BLT it will take a lot more points than many of the other resorts. You pay for location, location, location.

But even knowing all of this we still bought at BLT. We'll just have to stay in a smaller unit for less nights.

BTW, our guide says they are raising the price of BLT not to slow sales, but because of strong sales BLT can demand a higher price. $120 per point would keep me from buying at BLT. It's just too much.

I think if we knew back in May what we know now (after reading the DISboards), we'd buy resale and go with a different resort other than BLT. Then later we'd buy BLT on a resale contract at a more reasonable price. I mean how can you go wrong with any of the DVC resorts?

 

[jodifla]

The money is one of the reasons that i do want to buy it now. we don't have any kids yet and we have been on so many vacations in the two years we have been married. i feel that this is a good way to justify these vacations to my husband!! I keep telling him that it is like a prepaid vacation plan. we are paying for the vacations that we will take in the future and i like that better than paying all at once.

have people been finding cheap airfare to disney when they need it? i figure you can book the rooms and then look for good deals. is this what most people do?

We bought as DINKS as well in 1996. One of the best things we ever did. Now, we have a child, and less income. BUT we still take really high end vacations because of DVC. Our DVC was financed, but it has been paid off for more than 10 years.....and people are paying almost twice what we paid for ours way back then.

The room we stayed in last week went for about $500 a night....it was a 2 bedroom at Jambo. Us in one bedroom, child in the other, and friends stayed some nights as well. NO WAY would we do this if we didn't have DVC.


You could be like a previous poster...thinking, thinking, thinking about it. Then 20 years have gone by, your children are grown, you have college/retirement to think about, etc. AND you've spent beacoup bucks on Disney vacations.

 

[5forDiz]

that's what i keep telling my husband! i love to vacation and I know that i will def. use the dvc quite a bit. my husband can take vacations or leave them and I am def. NOT that type of person. i need my vacations and i need them often.

I do like seeing the number aspect. we are planning on financing dvc if we get it but i am planning on paying it off early. this may all be in vain because by the time we decide the incentives might be over.

Incentives come and incentives go and sometimes the very next one after you buy is even better then what was offered at your particular purchase time.....my point is don't get so wrapped up in focus on incentive until you are absolutely sure on every other aspect of DVC working for you & your DH. And keep in mind that DVC's best value is using your points at DVC resorts not to regularly trade out to non-DVC resort destinations so if this is how you r thinking your travel habits would likely progress over the upcoming years then there are other timeshares out there that are available at much better prices to accomplish this with. and ita with what poster Bookwormde suggested to you re purchasing a small resale contract and building from there as time goes on & you have the opportunity to stay at some DVC resorts & can better make a decision on whether you want to consistently travel to WDW & also it you want to own all your points at one resort or more than one.

Best wishes on your planning

 

[brigitteparker]

thanks for all the wonderful posts!! i love reading different people's opinons. It really helps!

 

[Atchley]

We just returned yesterday from a 6 day trip to WDW.
This stay we went to POR as it was cheaper than the deluxe resorts. The previous two stays, earlier this year in July and July 2008, we stayed at WL. I guess you can say that we were spoiled by WL. We didn't enjoy POR at all. It just wasn't that great to us. We took the tour for the DVC and decided then that for the money, that was our best deal. If we are going to pay for a deluxe room everytime anyways, why not purchase into the DVC. To us, it just made sense. We are now members and our home resort is BLT. We can't wait to go back next year and really check it out!