On the fence..

[CatelynnMarie]

I am REALLY interested in buying the DVC, however, I am on the fence about it. I know it's really amazing and worth it, so it's not that i'm concerned about. I'm concerned about the pricing. I am only 21 with college loans and am photographer. Other photographers can understand that there isn't always work all year round and a second job is pretty much a staple. I have yet to find that second job due to the US being so, well, annoying with the lack of available jobs. Anyway, is it worth it to just buy into it and have that extra responsibility every month? Or should I just suck it up and wait till I have extra cash to put into it?

 

[Deb & Bill]

I am REALLY interested in buying the DVC, however, I am on the fence about it. I know it's really amazing and worth it, so it's not that i'm concerned about. I'm concerned about the pricing. I am only 21 with college loans and am photographer. Other photographers can understand that there isn't always work all year round and a second job is pretty much a staple. I have yet to find that second job due to the US being so, well, annoying with the lack of available jobs. Anyway, is it worth it to just buy into it and have that extra responsibility every month? Or should I just suck it up and wait till I have extra cash to put into it?

No, you don't want to spend money on a luxury you really can't afford right now. Pay your student loans and get a job first. DVC will be there when you can afford it.

 

[Brian Noble]

If you were my daughter, I would tell you to wait. You do not sound like you are in a position where such a purchase is even vaguely a good idea.

 

[Caren90]

You can always rent points now, while you are financially a "work in progress" and still be able to stay at the DVC resorts. Let more financially established people worry about the Maintenance Fees on a year to year basis and rent points from owners when you need them.

That is what I did early on and now I am in a financial position to afford to own DVC without any debt. It took a while to get where I am now, but early on, my family still enjoyed DVC through the kindness of owners willing to rent to us.
Stephen

 

[disneynutz]

I wouldn't call DVC amazing, I would call it a pre-paid room if you intend to vacation at WDW every year for the next 10 years or longer.

Bill

 

[Lynne M]

DVC isn't 'amazing', any more than a car lease or a home maintenance contract is 'amazing'. It's really just a way of prepaying for your lodging. That's all it is.

You can take all the same trips and stay in the same resorts without burdening yourself with a large monthly payment. Just pay for your vacations as you go, instead of paying it all at once up front. If you want to reduce your costs, then rent reservations from other owners.

And remember, DVC just covers your resort stay. In order to use it, you still have to pay for food, maybe for airfare, maybe for park tickets.

 

[Dean]

I am REALLY interested in buying the DVC, however, I am on the fence about it. I know it's really amazing and worth it, so it's not that i'm concerned about. I'm concerned about the pricing. I am only 21 with college loans and am photographer. Other photographers can understand that there isn't always work all year round and a second job is pretty much a staple. I have yet to find that second job due to the US being so, well, annoying with the lack of available jobs. Anyway, is it worth it to just buy into it and have that extra responsibility every month? Or should I just suck it up and wait till I have extra cash to put into it?

There is no purchase not related to getting your work done, food on the table or a roof over your head that I would deem as reasonable in your stated situation. Frankly, even the word vacation shouldn't be in your vocabulary right now unless someone else is paying for it and you don't have work you could perform. IMO, the responsible thing to do would be to get those loans paid off (all loans), get a nice emergency fund then saves up the money for DVC if you deem it next in line.

 

[ELMC]

The 21 year old in me wants to say, "go for it, you only live once!" But I'm 38, and the 38 year old in me wants to slap the 21 year old in me silly.

Listen to the good advice you have received here. Buying DVC isn't cool, it's a luxury purchase that people make after they have all the other pieces of the puzzle in place. As hard as it is for me to say....I think you'd be better off waiting. Reading your post, I think you think that as well.

 

[CatelynnMarie]

Thanks so much for all your advice/ opinions. I knew that what everyone said was probably what would be said lol. For me, going to WDW isn't just a vacation. Like for many people on the boards, I feel it is home. It does sound kind of silly to say, but it's just how I feel. At one point I was even supposed to be a CM. I just want any oppurtunity to visit. Last time I was there, I kind of made the mistake of going to one of the dvc tours. The seller was doing what he was supposed to and was convincing me to buy. He made everything sound so incredible. I had already known a lot about the membership from my best friend who owns it, but when he was physically showing me all these numbers and whatnot, it kind of made me feel inclined to buy and not plan any more visits until I bought into it. So now I just am in a weird place with my emotions. I know the responsible thing to do, and I will not be buying into it now, but it just makes me sad. Yes it is only paying for resort stays, but even that would be enough for me. Just knowing I'm there makes me happy. Until I can afford it properly though, I guess I'll just have to deal and when I can, make visits I can afford.

 

[gray52]

So now I just am in a weird place with my emotions. I know the responsible thing to do, and I will not be buying into it now, but it just makes me sad.

You shouldn't be sad. Be happy you have the sense to make good financial decisions. I'm sure there are quite a few people out there, just like you, who got swept away to never land and bought during their DVC tour... and some of them are in a weird place, just like you, because they didn't do the responsible thing... and they're sad, just like you, because they have a monthly payment they really can't afford... and for them, some of the "Disney Magic" is gone, and will never return.

 

[Dean]

Thanks so much for all your advice/ opinions. I knew that what everyone said was probably what would be said lol. For me, going to WDW isn't just a vacation. Like for many people on the boards, I feel it is home. It does sound kind of silly to say, but it's just how I feel. At one point I was even supposed to be a CM. I just want any oppurtunity to visit. Last time I was there, I kind of made the mistake of going to one of the dvc tours. The seller was doing what he was supposed to and was convincing me to buy. He made everything sound so incredible. I had already known a lot about the membership from my best friend who owns it, but when he was physically showing me all these numbers and whatnot, it kind of made me feel inclined to buy and not plan any more visits until I bought into it. So now I just am in a weird place with my emotions. I know the responsible thing to do, and I will not be buying into it now, but it just makes me sad. Yes it is only paying for resort stays, but even that would be enough for me. Just knowing I'm there makes me happy. Until I can afford it properly though, I guess I'll just have to deal and when I can, make visits I can afford.

Very wise and responsible words. Buy DVC when it will be a blessing to you and not simply an impulse buy.

 

[Deb & Bill]

Think of it this way. You're not one of the many DVC owners who can't make the payments trying to sell a contract that they paid Disney $130 a point for (100+ points) and can only get $80 a point if they are lucky. So even if they get closer to their asking price, they still have to pay the 10% commission to the agent who found a buyer for their contract. And they still owe Disney money to sell the darned thing.

Or they got a home equity loan to buy DVC and now they are having problems paying the loan. So they are going to lose their home as well as their DVC points.

WDW is a great place, but instant gratification isn't all that it is cracked up to be.

 

[ELMC]

I know the responsible thing to do, and I will not be buying into it now, but it just makes me sad....Until I can afford it properly though, I guess I'll just have to deal and when I can, make visits I can afford.

Print up your quote from above and look at it ten years from now. I can almost guarantee that you will look back on it with pride and joy that you made a good decision. And at that time you probably will be a DVC owner...on your terms and not anybody else's.

 

[Caren90]

Many people who buy DVC will say; "I wish I had purchased 5 years ago.", but the reality for most of these people is that they were not financially in a position to buy 5 years ago. Be patient, DVC will still be there. Rent points from an owner you can trust and you will be receiving almost all of the same benefits without paying for MF's. Therefore, you can get your Disney "fix" while you work towards financial security.

Good luck.
Stephen