Potential buyer looking for advice!!!!!!!!!!

[doberpriller]

I am looking into purchasing DVC and I need advice. I have looked into TTS and have ordered a DVD from DVC. I would like to buy at WDW because that is where I will be the most. I was thinking in the 200pt range. This may be a stupid question but what about buying 100 points each at 2 different properties? I am wondering then if you would have 2 home resorts and be able to make reservations at the 11 month window? I have more time than money, so I can research. Also I hear everyone talking of maintanance fees, what do they run and which are the most reasonable? This would also be a consideration!!

 

[AlaskaMOM]

You can only use the 11 month res time for points at the "home" resort. Example you purchased 100 pts at OKW and 100 pts at BWV. 11 months out you could reserve rooms at OKW up to 100 pts, and BWV up to 100 pts. But if you reserved at the 7 month you could use all 200 pts at any DVC if availability is there. As for maint. costs they average around $4 per point per year. You pay your fees either in lump sum in Jan or payment w/d from account each month.

2005 maintenance fee schedule, $/point

OKW $3.86
BWV $4.41
VB $4.87
HH $4.04
VWL $4.35
BCV $4.27
SSR $3.83

Hope this helps

 

[dianeschlicht]

Having 2 contracts at different resorts is a good idea, and a tactic used by many owners. We also have two contracts, but we have them both at the same resort because we knew we mostly wanted to stay at that one resort all the time, so we wanted all of our points available at the 11 month window. The number of points you get at a resort depends a lot on the price point at that resort. If you plan well, you wont have to worry about odd numbers of left over points.

 

[Granny]

Two resorts with equal contracts could work well for you. We are in that situation, and we bank one contract each year, and borrow on the other so we can use the 11 month booking advantage with two years worth of points.

If you are the type that doesn't have the ability to plan and book more than 7 months in advance, then having the home resort booking advantage is not as much of an advantage and I'd just buy one contract where you can find the best deal and lowest costs.

 

[LisaS]

Since you mentioned you have more time than money, you should make sure you factor closing costs into your decision.

Since you are not already a DVC owner, if you purchase directly from Disney you will have to purchase a minimum of 150 points. (Once you are an owner, you can buy smaller "add ons".) There are no closing costs when buying directly from Disney so the price you pay is just the number of points times the cost/point. Disney is currently selling SSR at $98/point list price, $90/point if the $8/point incentive is still in effect. You can also buy sold-out resorts (BWV, OKW, etc.) through Disney for $92/point.

If you purchase through a reseller, you can purchase any number of points you like, provided you can find a contract of that size. The price/point will be lower through a reseller but you have to factor in your closing costs when you do the math to see what your total costs will be. Closing costs will generally run about $400-$500, depending on the number of points in the contract. So if you buy one contract of 200 points, you pay about $500 in closing costs. If you buy two contracts of 100 points, your closing costs per contract might be closer to $400, but you will have to pay that amount on each contract, so your combined total closing costs could run you $800-$900.

So, if you decide that you really want two 100-point contracts, you will have to buy your first one through a reseller (since it is below Disney's 150-point minimum). After you close on that one and are officially a DVC owner, you can look into whether it's better to buy the second 100-point contract from a reseller (taking into account the closing costs) or purchasing directly from Disney as an "add on". Given the price/point of some resorts on the resale market (especially BCV, where some contracts are listing at $90/point), you might actually get a better deal buying from Disney since you don't have to pay closing costs. On the other hand, if you're buying OKW, you will probably get the best deal through the resale market.

 

[winjos]

Another thing to think about...

We have two contracts 200 at BWV & 120 at SSR. After reading a number of posts, we have now realized that if something happens to us, we have two unequal contracts. The issue: we have two kids. There are a lot of forward thinking owners on this board that took that into account when purchasing contracts. Smart, smart, smart!!! No problems when dividing them up!

Guess we will have to buy more points (darn) at some point and let them decide what to do with the BWV contract OR make sure and live past the expiration of the contracts (DH & I will be in our mid 80's)!!

 

[T.E. Yeary]

After much discussion between The Timeshare Store, Inc. and Timeshare Closing Services, Inc., we came to an agreement and wish to announce that the following prices will take effect as of Thursday July 28, 2005 for those purchasing from The Timeshare Store, Inc. (These prices are NOT retroactive, so please do not ask about it.)

These prices DO include the necessary title search and estopple information from Disney Vacation Club.

25pts to 50pts Closing Costs = $262 without Title Insurance Policy - additional $60 for Title Insurance Policy

51pts to 75pts Closing Costs = $299 without Title Insurance Policy - additional $60 for Title Insurance Policy

76pts to 100pts Closing Costs = $337 without Title Insurance Policy- additional $60 for Title Insurance Policy

DISboard Members, pat yourself on the back, we heard your voices!

The Timeshare Store, Inc., hopes this will be helpful when you make your smaller point package decision!

Thomas E. Yeary (Tom)
Owner/Broker

 

[doberpriller]

Thanks for all of the advice. It is alot to think about. As of now I think I will go resale. SSR looks good to me because of the extra years and low maintanance fees. The maintanance fee list was really helpful. I think I will wait till the end of the year and try to pay cash. I need to act soon because I need to make another trip to the world soon!

 

[Dean]

Your only feasible way of finding two 100 pt contracts would be to buy one and add on direct through DVC for another. That would defeat your price purpose. Once you are sure of how many points you need/want, you could have the brokers look for you for a contract that has about that number total including an add on. While not likely to be 100/100, maybe it's be 150/50 or 150/75. for example. You also need to decide which home resorts you will accept. Dues will be around $4 per point give or take. With OKW, SSR and HH being the lowest and VB the highest with a range of almost $1. IMO, it's not worth it to try to do the 100/100 type purchase, you're better off getting the best rate and thinking about dues for things you'll use at 7 months or less. If you're set on one or two resorts and can plan 7-11 months out, definitely considering buying there even if it's more.

 

[doberpriller]

Thanks, I realize that now. I am just going to bite the bullet and just buy a 200pt contract. I think I am going to go with SSR. I have seen the resort from Downtown Disney but not close up. I do have one more question. If I run out of points do I get discounts on hotels? How does the renting or borrowing of points work?

 

[Dean]

Thanks, I realize that now. I am just going to bite the bullet and just buy a 200pt contract. I think I am going to go with SSR. I have seen the resort from Downtown Disney but not close up. I do have one more question. If I run out of points do I get discounts on hotels? How does the renting or borrowing of points work?

You can accumulate up to 3 years points by banking and borrowing. You cannot rent extra points from DVC but you can from other members and have them transferred to your account if you need to. There are no cash discounts for WDW with the membership other than an occasional member discount on cash at the DVC resorts themselves.

If you want SSR, certainly buy it. But at this point it doesn't sound like you have enough info to know. If price but on property is your goal, OKW likely will be cheaper. And don't give up on the idea of finding a contract with an add on that fits your needs. It sounds like you need to go visit the resorts and look around, do the tour if you haven't and see the rooms. Better yet to schedule a stay, maybe by renting from a member.

 

[DMDSTPRGIL]

Don't even think about how many years it's worth. If you are 30 years of age now will it matter to U it you get 50 years or 40 years worth of Disney. Most of us end up selling off for one reason or another as time gose on. And like any property these days U get more money for it even with used up years. What U really need to look at is the price and where U really want to stay. If U are looking for price then go with a resale. It's a lot cheeper then new at SSR. If U like BWV or BCV and really want to make sure U can get the dates U want 11 months out then go with a resale to buy in at those resorts. Dues does not really matter at this point. They all go up after a few years and are all about the same price give or take. $4.00 a point or $4.25 a point times 200. That's what $50 more. Good luck in your quest.

 

[Mississippian]

Doberpriller,

Since you asked for advice....

Visit the resorts! My wife and I stayed at BWV right after it opened, as a CRO guest. We were upgraded to a one bedroom, and really liked it.

BUT, when I got ready to buy about 10 months ago, I decided I wanted to buy a small contract at BCV because of the pool. I kept my eye on the Timeshare Store site, and just missed a couple of contracts.

Then I decided to take my two children for a quick Disney trip. We stayed at BCV on rented points. I liked the resort, but also realized I just didn't like it as much as BWV.

Anyway, I ended up buying a small 50-point contract through the Timeshare Store, and then after some research, was able to buy 150 points directly from Disney. The bottom line is that you should be able to get any resort you want except Beach Club directly from Disney. So VISIT the resorts, stay in a couple of studios, and then decide where to buy.

 

[doberpriller]

Thanks I think I have talked some friends into making a quick trip with me. I also take each of my nieces on their 12th birthday, one of a time of course! So I will be taking trips every other year for the next 10 years just with them! Thanks for the info.