Pros of owning a dvc property

[lovin'fl]

when you purchase park tickets do you have to purchase for everyone in your room? If my husband decided to lounge at the resort and not go to the parks would he still need a ticket?

You can buy tickets for whoever and they can be different...like you guys get 7 day hoppers while your DH might get 3 day non hoppers or something like that. The dining plan does have to be added for everyone on the reservation and for the length of the stay (some folks will do a split stay to get DP for first part and then it expires at midnight on resort switch day so you carry it over a little).

Would it really be better to buy direct or resale? I have read every post on both points and feel like resale is great, but are you really getting everything you could. I saw that they offer DVC only events are they really worth the extra? Can you only buy additional points if they are available? Or can you get them because you already own at that resort?

The ONLY reason, IMO, to go direct is for the DVC AP. If you plan 2 trips w/in 12 months then the AP is good to get (and you could do trip 1 on July 7-14 and then do trip 2 July 1-7 the following year to get use of AP). For us, DVC AP is not even a big deal because they are still so expensive and we only plan a short F&W trip each year so getting 3 day non-hoppers (even twice) is cheaper for us. The events, I don't know if that's a big draw for you. It is not for us. We we signed up for one last Aug and didn't make it there so we really don't need that and they are sprinkled lightly throughout the year (there will be no events when we go in Oct). Buying resale will save you TONS of money. And you can choose whatever resort/contract you like.

A family of 4, they are only offering direct at Poly which would be amazing, but I also like the Beach Club atmosphere and the easy access to Epcot....any suggestions on this?

DVC will sell you ANY resort direct (except VGF and VGC I think). You may have to get on waitlist for points but they can get them for you eventually. We bought BWV direct in 2014. Just 80 points to add on to what we already had, for F&W trips. It used to be good to go direct for small add-ons (like we did at $123pp and cheaper closing costs than resale) but even that's not really a good idea anymore as direct prices are sooooo high.

As far as resort...if you want to stay at BCV (especially anytime from June through about Jan 10- after NYE they have a Run Disney event in Jan) than you should buy there. They are a small resort and tough to book sometimes, especially studios.

And I was trying to see what the length of resort ownership is and couldn't find anything. Is that listed in the resale agreements?

They start selling with 50 years, so it depends on when the resort opened for sale. Here is the list:
Aulani 2062
Animal Kingdom 2057
Bay Lake Tower 2060
Beach Club 2042
Boardwalk 2042
Grand Californian 2060
Grand Floridian 2064
Hilton Head 2042
Old Key West 2042 or 2057
Polynesian 2066
Saratoga Springs 2054
Vero Beach 2042
Wilderness Lodge 2042

 

[lovin'fl]

Well after several days of reading all of the responses, which I am really thankful for! And reading different threads on this site. I feel like I am getting a pretty solid understanding of how all this works. Considering my kids are 10 and 9 I feel like we would definitely get some great use out of the DVC. I think for our next trip, I already have it in motion, we will rent points and check out all of the resorts that hold interest for us. My husband just really would like a place with good food and pool he can relax by, and catch up to us when he wants to. I really would prefer to do resale, I need to feel like I got a great deal! I think I am really leaning toward a smaller contract, 100 points so I can pay cash. I still really am interested in BCV and BWV also. I really feel drawn to them. I think I will try to book our stay at one of those. And then after we see how that works and as the kids get a little older we may add on a different resort, or more points at our current. I feel like then if the kids don't care about going I still have a place that my mother and I will be able spend some time together. And won't be stuck with a huge contract that I end up having to sell off because it's too much. Thanks again for all of your great input. I will still probably spend another 6 months researching until I have sufficiently driven my family insane with bouncing my ideas off of them. LOL

Also keep in mind that you can add on more points at same resort or other resort, down the line. So buying a smaller contract is a good idea. And smaller are easier to resell if you ever needed to do that.

 

[Dean]

Well after several days of reading all of the responses, which I am really thankful for! And reading different threads on this site. I feel like I am getting a pretty solid understanding of how all this works. Considering my kids are 10 and 9 I feel like we would definitely get some great use out of the DVC. I think for our next trip, I already have it in motion, we will rent points and check out all of the resorts that hold interest for us. My husband just really would like a place with good food and pool he can relax by, and catch up to us when he wants to. I really would prefer to do resale, I need to feel like I got a great deal! I think I am really leaning toward a smaller contract, 100 points so I can pay cash. I still really am interested in BCV and BWV also. I really feel drawn to them. I think I will try to book our stay at one of those. And then after we see how that works and as the kids get a little older we may add on a different resort, or more points at our current. I feel like then if the kids don't care about going I still have a place that my mother and I will be able spend some time together. And won't be stuck with a huge contract that I end up having to sell off because it's too much. Thanks again for all of your great input. I will still probably spend another 6 months researching until I have sufficiently driven my family insane with bouncing my ideas off of them. LOL

I'd make sure you specifically visit and evaluate SSR & AKV if you stay at BCV or BWV. That'll give you a good general sense of the options and possible compromises involved. I still would caution you on buying too few points. If you think you'll need more later, better to wait and buy later saving in the process than worry about getting that next trip on points. You'll also get a better deal on a full sized contract though it might make less difference at SSR or AKV than at some of the others. Good luck, it sounds like DVC might be a good choice for you.

 

[Maistre Gracey]

I'd make sure you specifically visit and evaluate SSR & AKV if you stay at BCV or BWV. That'll give you a good general sense of the options and possible compromises involved. I still would caution you on buying too few points. If you think you'll need more later, better to wait and buy later saving in the process than worry about getting that next trip on points. You'll also get a better deal on a full sized contract though it might make less difference at SSR or AKV than at some of the others. Good luck, it sounds like DVC might be a good choice for you.

Why wait and save?? Prices will only increase. Buy what you can afford now and add on later.

MG

 

[Dean]

Why wait and save?? Prices will only increase. Buy what you can afford now and add on later.

MG

I would disagree with your assertion. Resale prices aren't likely to increase much though the RTU will march along and the same price will feel like more. The cost of buying 100 at the initial time and 50 in a year will likely be roughly $2000 more (possibly even more when you look at points availability) than buying 150 in an extra year because of the higher price for smaller contracts, often negative situation in terms of point accounting for smaller contracts and the second closing cost. An additional year with one rental will add maybe an additional $1000 to the cost. And if it pushes one to buy the additional portion retail, the additional cost will be even far greater which is often what would happen. So even if it does not result in a better decision, one still saves money in all likelihood and at worst will break even. If it results in a better purchase decision, the patience could make a FAR greater difference. And if one can't save up enough to buy the 150 over 100 in an additional year they likely couldn't afford DVC anyway or it wasn't important to them or both.

 

[Maistre Gracey]

I would disagree with your assertion. Resale prices aren't likely to increase much though the RTU will march along and the same price will feel like more. The cost of buying 100 at the initial time and 50 in a year will likely be roughly $2000 more (possibly even more when you look at points availability) than buying 150 in an extra year because of the higher price for smaller contracts, often negative situation in terms of point accounting for smaller contracts and the second closing cost. An additional year with one rental will add maybe an additional $1000 to the cost. And if it pushes one to buy the additional portion retail, the additional cost will be even far greater which is often what would happen. So even if it does not result in a better decision, one still saves money in all likelihood and at worst will break even. If it results in a better purchase decision, the patience could make a FAR greater difference. And if one can't save up enough to buy the 150 over 100 in an additional year they likely couldn't afford DVC anyway or it wasn't important to them or both.

This assumes all of your assumptions come true. But I do think your $40 pp premium for a 50 pointer vs 150 pointer is too steep. I know about $10 alone would go to closing for an extra contract, but I still think $30 is too much. Certainly in line if you're comparing a 500 pointer vs 50, but a 150 pointer is still not a big contract.
When I sold numerous 25, 50, and 150 contracts the price was a little more for the smallest, but the bigger benefit was an INSTANT sale.
So I still say buy a 100 pointer now and decide how to proceed later. Heck, that could even mean selling and buying a single bigger contract. There is no telling what the market will be down the road, and the numbers at that time would need to be looked at. So, I personally don't see an issue with buying what one can afford now and adding on later.

MG

 

[Dean]

This assumes all of your assumptions come true. But I do think your $40 pp premium for a 50 pointer vs 150 pointer is too steep. I know about $10 alone would go to closing for an extra contract, but I still think $30 is too much. Certainly in line if you're comparing a 500 pointer vs 50, but a 150 pointer is still not a big contract.
When I sold numerous 25, 50, and 150 contracts the price was a little more for the smallest, but the bigger benefit was an INSTANT sale.
So I still say buy a 100 pointer now and decide how to proceed later. Heck, that could even mean selling and buying a single bigger contract. There is no telling what the market will be down the road, and the numbers at that time would need to be looked at. So, I personally don't see an issue with buying what one can afford now and adding on later.

MG

Both sides have assumptions that are essentially two sides of the same issues. That there will not be major changes in a year in resale prices for established resorts is a far better assumption IMO that there will be. My assumption was $10 per point difference on the total 150 by getting two smaller contract vs one larger one for $1500 then $500 extra closing extra for the second contract. Worst case scenario is doing the one in year will cost a few hundred to $1000 extra if one rents for the next year for one trip, remember you're saving a year if dues as well. Or better skip the next trip and put that to the contract in this situation after the one rental to check it out. You have the potential to make a much better decision, you have a lot more contracts to choose from, you'll likely get a much better contract with more points which will further decrease the cost effectively, and you won't have the problem of finding the extra smaller contract that fits your needs and UY. In reality if one tries to do it in 2 increments it creates a lot of potential issues for finding the second contract due to availability and stripped smaller contracts and it often pushes people to buy the second part retail which is going to be $40 a point on the second one. That's not to say there aren't potential befefits but they mainly sit in the idea that may one doesn't really need the extra and that one might decide to add on at a different resort, not the savings. And I'll say again that a if one can't afford the extra in a year, they really can't afford it at all. I would not finance to do it all now though, if that was the only choice I'd be with you or likely better, not buy at all rather than financing.

 

[lovin'fl]

I am in full agreement with buy smaller now. It may cost a few dollars more per point but you will also sell for a few dollars more and it will sell fast. I bought 100 AKV points in 2013 for $66pp and sold them in 2015 for $80pp. The day I contacted the broker they were sold before she even listed them on her site (so she must have had a client looking for smaller add on in our UY). I started with 200 OKW points in 2006. We were living in NC and my kids were in year round school. The plan was to go every Sept and then another time each year (2 trips) and drive down. Then in 2007 we moved to MD and the kids were in traditional schools. We figured no more WDW, or not as often...maybe every 2-3 years. I found the forums and asked "can we break up our 200 point contract and sell just 50-100 points of it"...answer: NOPE. Fortunately we had family that wanted to use our points so didn't need to sell the contract. And then, actually, needed to buy more when we had to upgrade from 1BR to 2BR villas with 3 teens. Every contract we have added since that 200 pointer has been 100 or less. And we've added 6 (but resold 1). And it's nice to have multiple home resorts for the 11 month booking window...BWV for F&W, HHI for summer or 3BR GV (coming up this NYE, YAY!) stays. The OKW we tend to use at 7 months out for other resorts.

 

[sneffg]

Do y'all think there is a better time of year to buy? Do the prices on resale fluctuate with the time of year? Would it be prudent to have say 100-150 pt contract at 1 resort and add a smaller one at another resort to guarantee the booking window? Is it also possible to transfer the points from the smaller to add to the other reservation if the points are needed?

 

[CarolMN]

Remember that points keep their original resort and use year tag when transferred. If your smaller contract is a different resort from the larger, you won't be able to use the points from the smaller contract to book anything except that contract's home resort until the 7 month window opens. Same applies to the points from the larger contract.

 

[Dean]

Do y'all think there is a better time of year to buy? Do the prices on resale fluctuate with the time of year? Would it be prudent to have say 100-150 pt contract at 1 resort and add a smaller one at another resort to guarantee the booking window? Is it also possible to transfer the points from the smaller to add to the other reservation if the points are needed?

Some think that after the first of the year is a little cheaper but I doubt it makes enough difference to wait on that time just to get a deal considering you're losing out on a few months of usage potential and possibly a year's points.

As for the smaller contracts being more and easier to sell long terms, that's an assumption, one I think is in significant question. There are a lot of things DVC could do to make them less desirable and therefore cheaper. For example there are already timeshares that charge a base fee plus so much per point which is a more fair way anyway and that could certainly changes that assumption instantly. Certainly if we were talking 1K or more at VB that's a valid issue but not compared to 150 points same resort IMO. Same price and easy to do, I'd take the smaller but that's not the question here. The question is to pay more long term and to go through the hassle of finding the right contract to match up for the second one.

 

[CarolMN]

IMO, if DVD/DVC decides to establish a minimum number of directly purchased points to qualify for the Membership Extras, that may reduce (or even eliminate) the premiums that some of the smaller contracts currently demand. For example, if the minimum ends up to be 100, the 25 and 50 point contracts will not be quite as desirable to some resale buyers as they are right now.

 

[KAT4DISNEY]

IMO, if DVD/DVC decides to establish a minimum number of directly purchased points to qualify for the Membership Extras, that may reduce (or even eliminate) the premiums that some of the smaller contracts currently demand. For example, if the minimum ends up to be 100, the 25 and 50 point contracts will not be quite as desirable to some resale buyers as they are right now.

Since small resale contracts wouldn't qualify for the Membership extras anyway I'm not certain that will be a factor in the pricing.

 

[CarolMN]

Since small resale contracts wouldn't qualify for the Membership extras anyway I'm not certain that will be a factor in the pricing.

Duh! Of course you are right. Thanks.

Should have said that the removal of Membership Extras from resale contracts rec'd for ROFR on or after 4/4/2016 may reduce the premiums the smaller contracts currently command. In the past, some may have purchased just to be eligible for the annual pass discount.

 

[Maistre Gracey]

Both sides have assumptions that are essentially two sides of the same issues. That there will not be major changes in a year in resale prices for established resorts is a far better assumption IMO that there will be. My assumption was $10 per point difference on the total 150 by getting two smaller contract vs one larger one for $1500 then $500 extra closing extra for the second contract. Worst case scenario is doing the one in year will cost a few hundred to $1000 extra if one rents for the next year for one trip, remember you're saving a year if dues as well. Or better skip the next trip and put that to the contract in this situation after the one rental to check it out. You have the potential to make a much better decision, you have a lot more contracts to choose from, you'll likely get a much better contract with more points which will further decrease the cost effectively, and you won't have the problem of finding the extra smaller contract that fits your needs and UY. In reality if one tries to do it in 2 increments it creates a lot of potential issues for finding the second contract due to availability and stripped smaller contracts and it often pushes people to buy the second part retail which is going to be $40 a point on the second one. That's not to say there aren't potential befefits but they mainly sit in the idea that may one doesn't really need the extra and that one might decide to add on at a different resort, not the savings. And I'll say again that a if one can't afford the extra in a year, they really can't afford it at all. I would not finance to do it all now though, if that was the only choice I'd be with you or likely better, not buy at all rather than financing.

I just gotta say, that gives me headache. Way too many variables for me. .We can all try to time the market, but generally speaking we will all be wrong. .... Keep it simple. Buy what you can afford, and add on later if you need.

It's kinda like dollar cost averaging. A true and tried method.

MG

 

[Dean]

I just gotta say, that gives me headache. Way too many variables for me. .We can all try to time the market, but generally speaking we will all be wrong. .... Keep it simple. Buy what you can afford, and add on later if you need.

It's kinda like dollar cost averaging. A true and tried method.

MG

I'd look at it the other way. Waiting and buying the full amount at one time is the simplest method. The other is both speculation and a lot more work to complete.

 

[Maistre Gracey]

I'd look at it the other way. Waiting and buying the full amount at one time is the simplest method. The other is both speculation and a lot more work to complete.

Ahhh... So if I want to invest $3k in a stock, but only have 2k now, I should wait to save the other G before buying...???
Yes, DVC is indeed an investment. The rules are slightly different, but still follow the general rules. The only thing we know for certain is when the deadline hits it will be worth zero. One year before that.... Who knows??

 

[Dean]

Ahhh... So if I want to invest $3k in a stock, but only have 2k now, I should wait to save the other G before buying...???
Yes, DVC is indeed an investment. The rules are slightly different, but still follow the general rules. The only thing we know for certain is when the deadline hits it will be worth zero. One year before that.... Who knows??

That's not an applicable comparison. In this situation the question is wait a year and make it simple or make it complicated likely at a higher cost but get into the system sooner.

 

[sneffg]

For you who have been in DVC for a long time, what was the reason they extended some of the OKW contracts? Was it added on to? I wonder if that would be something that might happen to a few of the others with a shorter term....

 

[_auroraborealis_]

For you who have been in DVC for a long time, what was the reason they extended some of the OKW contracts? Was it added on to? I wonder if that would be something that might happen to a few of the others with a shorter term....

It was actually an experiment. OKW is a sold-out resort, and they offered all owners a chance to extend the term. Only about 25% of the owners took the extension. It's created a situation where no one is sure what DVC will do with the 2042 contracts when they RTU -- try to sell direct for 15 years, use them all as cash booking until 2057, tear down part of the resort. No one knows. I don't think DVC know.

It wasn't added on to, and given how the extension went, I don't think DVC will offer extension on other resorts in a similar fashion.