please explain how this works...

[susy]

My friend just bought a timeshare at Calypso Cay at 8,000.00. She is paying payments of $200 plus a month for this. Wouldn't she be better off putting $200 a month into her mutual fund and not paying the interest she is paying (which is high due to a bankruptcy). I feel that they were sort of taken by Calypso Cay, since they are a blue-collar family who got a free room for a weekend and came home with this payment, yet they don't have a car that runs properly .

Also, from reading th DVC FAQ I figured out that you would have to buy a minimum of 150 points at $75 per point -total of 11,250. It seems like a lot to me, because when I used the DVC calculator I put in that I would stay 7 nights at say the Boardwalk villas in a standard studio in the off-season and came up with a total of 87 points that I would need.

 

[GAIL HAYDEN]

I don't think your friends were taken, they made the decision to purchase, perhaps under pressure, but no one held a gun to their heads.
The fact that their car does not run properly and they purchased this time share is not anyone's business but theirs. What anyone does with their money is a personal thing.
What part of the DVC comment do you feel is " a lot". The fact that there is a minimum, the fact that it is 75.00 point or the fact that you only need 87 points for the time frame you mentioned?
Disney sets the min. needed to buy in (when I purchased in 92 it was 230), they set the price and assume people will be there at different times of the year, just not the least expensive time.
It is not for everyone and it is a personal decision. If you feel it is too expensive or you don't like the set price, min. or point allocation, then don't buy.

 

[RobDoc]

Keep in mind also, that the one-time payment of $11,250 would give you 150 points every year until 2042. In addition, it's possible to find a purchase for LESS than $11,250 by looking at some resales. (BWV and OKW are unavailable (sold-out) thru Disney).

It's important to do the math and make sure that the costs and values fit your needs. If you have any more questions, please feel free to ask them here.

Enjoy!

 

[susy]

Dear Gail,
Thanks for your response. I live in FL and only go to WDW in the off season because it's too hot for me at other times and i like to go when there are low crowds. That's how I came up with 87 points. I only figured I would go for a week a year, because my DH does not get a paid vacation (which means we have to come up with that week's salary somehow). So I guess to make it to 150 points I would have to upgrade from a studio /standard view to something else. The good thing about this is that we could always stay at a deluxe , which would not happen any other way . The way we do it now is that we stay wherever we can afford at the moment. I definitely think my friend made an emotional purchase. Those pretty models are very tempting.

 

[BobH]

A big selling point for me was the flexibility of DVC. As long as I plan ahead I can usually go at almost any time period I want. I wonder if your friend who bought Calypso Cay enjoys this option? That is the feature that makes DVC worth more to me.

 

[Figment2]

From what I've heard most time shares require that you go for a minimum of one week at a time. I love the flexibility of DVC - there is no set minimum. I can pop down for a long weekend (and have) or stay for ten days (and have).

I bought into DVC in May of 2000 and have added on twice. I guess that an indication of how much I like it.

Happy Holidays!

Cyn

 

[tarzanman]

Ditto Figment2. Joined in April of 2000 and added on twice. Get in while the getting is good.

 

[Richyams]

Look also at the points cost for a one bedroom. Once the upfront costs are paid, you can be staying in a two bedroom unit at OKW for less than the cost of the All Stars.

We have 430 points, we broke even a very long time ago. My dues are less than $1500 a year, I get 10-12 noghts in an OKW Grand Villa every year. This is less than $150 per night for a three bedroom Grand Villa.

Every time I say that, I get so proud of the great decision we made buying back in '92.

 

[dianeschlicht]

I agree, Rich. We didn't buy until '97, but feel we have it paid for too. We also like the idea that we can stay on-site for up to 30 nights a year depending on when we travel. Because we live far away, we tend to do two longer trips in a 1,2,or 3 bedroom. I just can't go back to a studio or hotel room after that!

 

[Dean]

I'm not familiar with that resort specifically but in general, one who buys from the developer has been taken. There are exceptions and DVC is one of them along with many of the Marriott's. I've bought timeshares for far less than half what they sold for originally so they may want to reconsider if they have the change. It doesn't sound like someone who can't even keep a decent car can afford a timeshare. There are other hidden costs to include yearly fees, exchange companies, periodic special assessments and travel costs.

If they still have time, suggest they cancel and get further educated. They could always buy later if they decided it was best. Good luck.

 

[susy]

Dean,
I just read somewhere else on this board that yearly dues on 150 points (the minimum) is $600.00. If this is true, then I pretty much know that DVC is not for us at this time. We are of a middle class income. Even though I have a degree I have chosen to stay home with my son ,which means we must live on my DH's income. Since we live in south Florida and use the seasonal pass , it is much easier for us to plan a few days here and there than a whole week or two. Also, my DH does not get any paid vacation days at all. DVC is a luxury and those of you who can afford it are very lucky, indeed!!!

 

[Richyams]

That is definitely true. Like I said in my first post, I spend almost $1500 year in dues, but I get 10-12 nights in an OKW Grand Villa. The reach rate is nearly $1,000 a night. The savings are pretty evident.

It is definitely not just the upfront cost, dues are also involved. These vary from just over $3.00 per point to just over $4.00 per point annually.

 

[Dean]

Susy, the dues on 150 pts at OKW is almost $500 and for WL, BW and I'm sure BC it's almost $600. DVC is expensive but worth it for some. Whether it's worth it for your family is up to you. I'd say that if $500-600 per year is a problem, the purchase price of in the neighborhood of $10000 is definitely out.

For purposes of discussion, DVC could be ideal for you. Living in South FL, you could go for 3-5 days at a time, it's just a shame that going for weekends is not cost effective. Off season, there will always be deals and it's unlikely you could save money over the moderates in your situation. You may want to consider renting from a member rather than buying, at least for now. If you desire to vacation but at a controlled amount, you may want to consider other timeshares. There are many timeshares you can buy for a lot less than your friend paid and get many quality vacations out of the deal. While few timeshares are luxurious from the 4* to 5* hotel standpoint, the extra space, activities, full kitchen and the like is luxury in it's own right.

I truly enjoy timeshare because the space, kitchen and laid back atmosphere really makes me feel at home and helps me to relax. It also makes me take time off which I never did before timeshare, other than go to professional seminars. December though is a little stressful as the full brunt of the maint fees come due all around this time of year. The total this year is around $4500. Good thing it's all easily rentable as I can't use 8 weeks a year every year anyway and will pay my fees by renting out a portion of what I own.

 

[susy]

I know this is going to sound weird, but I do not want to SEE a kitchen while on vacation!!!!! We do get great FL Res Rates-I have two nights coming up at ASMo for $49! I know I could get a mod for $84 and just back from 3 nights at the Courtyard inDD for $25. Even though I would prefer a deluxe, I'm not really that picky!! I grew up "poor" and then my dad made a lot of money and we were suddenly "wealthy", so I've seen it all. Thanks to all for your insight!

 

[JonHM]

One suggestion, the next time you're at WDW for a few days, why don't you take the DVC Tour? Unlike almost any other timeshare tour, there is *absolutely* NO pressure whatsoever. It is extremely informative and enjoyable, and they take you through some of the Villas so you can see what they look like first hand. You would be under NO obligation, and NO pressure - we took all of our paperwork home with us and went over and over it before we decided to send it in, and they made NO attempt to get us to sign up while we were there, rather than take our time.

One thing you really have to think of with DVC is the big picture. It's really designed for you to use it for the next 41 years - it's more or less inflation proof - the maintenance fees can go up a limited amount (but thus far have not gone up very much and have even come down some years), but the number of points per night is pretty much locked in - If DVC decides they want to raise the number of points that one particular kind of room demands on one particular night, they have to DECREASE how many points that room will cost somewhere else - the TOTAL number of points cannot change. Did that make any sense? There are many others here who could explain this far better than I.

But my point was that SURE, you can get fantastic FL resident cash prices on places like All Stars, but as the economy improves and time goes on, those prices will go up and up and up - but a 1 bedroom villa will still be the same number of points 10 years (or 20 or 30) from now.

By the way, if you DO decide to join DVC at any point, please save this thread, because later on you will be AMAZED that at one point you were worrying that you wouldn't be able to use 150 points! Seriously, once you join and start planning trips, you would be *amazed* how quickly they get used.

If it really makes no difference to you how much space you have in a room, say All Stars Music vs. a DVC villa - then DVC may well not be for you. But I definitely think it's worth *considering* - if you do decide to take the tour, you definitely will know a heck of a lot more about DVC, and will not be under ANY pressure or obligation to do anything with that information. Just think about it.

By the way, as many here (who refer to the stove in a villa as the 'stove decoration') have pointed out, you don't HAVE to use the kitchen just because it is there (or the washer or dryer - heck, or the Jacuzzi for that matter! ) BUT you will find that if nothing else, the kitchen would allow you to have very inexpensive breakfasts in the villa, before heading out, which in itself can save a lot of money. Not to mention that you could refrigerate and later heat up leftovers from the area restaurants. And the available washer and dryer would mean that you can pack very little and just wash it part way through.

Take Care!

 

[Dean]

Originally posted by susy
I know this is going to sound weird, but I do not want to SEE a kitchen while on vacation!!!!! We do get great FL Res Rates-I have two nights coming up at ASMo for $49! I know I could get a mod for $84 and just back from 3 nights at the Courtyard inDD for $25. Even though I would prefer a deluxe, I'm not really that picky!! I grew up "poor" and then my dad made a lot of money and we were suddenly "wealthy", so I've seen it all. Thanks to all for your insight!

A lot of members feel that way. We find that having the space and amenties is a big plus, especially the fridge. We also enjoy eating out because we want to and not because we have to.

 

[raidermatt]

Susy, I'm with you on the kitchen thing. But we are also in this for 40+ years, so its nice to know that if our preference changes, or we need/want to save some money, we will have the kitchen available.

For right now, the studio is big enough, and a microwave and fridge is all we need for a kitchen. We have 200 points, but will probably be looking at resales to add-on in the future. Also, we live in CA, so our likely pattern will be to go to WDW every other year, allowing us to use 400 points per trip.

As others have said, DVC is definitely a discretionary purchase, just like buying a nicer car than one needs, or maybe getting season tickets to a sports team. We all have to make our choices, and we all have different incomes and personal situations.

It sounds like you will not be visiting WDW enough to make DVC worth your while, and you would probably be better off doing your vacations "ad-hoc". But again, that's up to you, and who knows when your situation might change.

Good luck, whatever you decide.