Purchasing A DVC "Home" That You Know You WIll Never Visit

[minniemickey105]

I am seriously considering becoming a DVC member, but as I am doing my research a thought came into my head to maybe purchase a cheap resale membership at maybe Hilton Head for example and always book at my club of choice (which would be a non-home choice). I understand to book a resort other than my home I could only book 7 months in advance versus 11, but I do not intend on traveling during peak times as I am not for the long lines. I know I have to be over simplifying this whole thing as many other people would be rushing to do it. Other than the advantage of being able to book early, why would you purchase interest in the more expensive resorts. In addition, during the off peak times what is the likelihood in being able to get reservations in your non-home resort?

 

[amandaC]

First, look at annual dues- HHI is higher than most. This is an annual expense and can negate your up front savings.

Also, peak Disney times and peak DVC times are different. DVC members go often and like Disney when it is less crowded and lower points. For example, early Dec and Oct are very popular.

That being said, HHI is great and is one of my homes. But I own there because I want to stay there.

 

[Deb & Bill]

So what do you consider off peak time? DVC off peak times are very different from non-DVC off peak times.

If you don't think you'll ever want that GV at WDW or BW view or Tree House Villa, then buy at HHI. Your dues will be higher at HHI or VB over the WDW resorts. And over the long run, that could make your inexpensive purchase more expensive.

At seven months all points are equal, so if you can wait until 7 months out, you can get almost anything. Some categories, villas, etc will be booked up before then, but if you don't mind, go for it.

You could get a OKW points that expire in 2042 and the dues there are lower than HHI and VB.

 

[Pakey]

I have tried unsuccessfully 5 times to book BCV at 7 months out. Even going on waitlists, for various times of the year, resulted in 0 successes there. Although I own there, I often hated to plan that far ahead but now know better and I book at 11 months.

This May, I booked SSR at 11 months and then called at 7 to waitlist at BWV and nothing came through. I was glad I had the availability at SSR so at least I could still go although I was disappointed to be unable to be at BWV that time.

DVC does not have a slow time as the other resorts do. I would not buy at HH with the assumption that I would always be able to get something at WDW at 7 months. Some resorts and/or some types of rooms are next to impossible to get at 7 months.

 

[minniemickey105]

Thanks for the quick responses. I was unaware of the varying peak times. I guess I was trying to purchase the cheapest thing going as I am a little nervous purchasing something site unseen. I am kicking myself as I just returned last Friday from a great Disney vacation, and had more than enough time to go to a presentation.

In addition, I am looking to start vacation in 2010 in the later part of the year (Nov or Dec). What would be the best time to start the purchase process? I would be looking to make BLT my home, and I am hoping that if I wait until the summer of 2010 I may be able to get a nice resale deal. Do you think there will be any resales for the property being that it will only be approximately a year old? Or with a property that new, it would be best to purchase from Disney?

 

[disneynutz]

Thanks for the quick responses. I was unaware of the varying peak times. I guess I was trying to purchase the cheapest thing going as I am a little nervous purchasing something site unseen. I am kicking myself as I just returned last Friday from a great Disney vacation, and had more than enough time to go to a presentation.

In addition, I am looking to start vacation in 2010 in the later part of the year (Nov or Dec). What would be the best time to start the purchase process? I would be looking to make BLT my home, and I am hoping that if I wait until the summer of 2010 I may be able to get a nice resale deal. Do you think there will be any resales for the property being that it will only be approximately a year old? Or with a property that new, it would be best to purchase from Disney?

Resales aren't likely for a new resort but you never know. If you want a sure thing you might want to buy direct.

 

[Deb & Bill]

From early Oct to early Jan is a very busy time for DVC. Points are usually lower (other than the holiday week/day) and get booked up at 11 months out. A resale takes about two to three months to get you closed and the points yours. Direct from Disney is much quicker. So if you want to go in Nov/Dec 2010, you'd want to have those points by Dec 2009.

 

[Figment2]

And if you want to stay in a specific resort during that time, I suggest you buy there.

Cyn

 

[tjkraz]

Resorts seem to hit the resale market about 6 months after they are first offered. Not in big numbers, but they will start to appear (people lose jobs, change their minds, etc.)

But bear in mind that these sellers aren't looking to take a big loss. They already have to pay 10% (or more) in broker commissions so you aren't going to see the listing for $10-15 less than DVC's current pricing. That would represent a loss of $25 or more per point on a contract held for less than a year.

AKV has been selling for about 20 months and most of the resale contracts are asking within $3-4 of DVC's price. Some are lower but they appear to be stripped contracts where the current year's points are used and even some points borrowed from next year.

 

[Dean]

Historically HH has had some of the lower dues. That has changed in the last couple of years and I expect it to be one of the highest going forward. I would not buy a resort I'd be unhappy staying most of my trips at. Thus I'd buy at WDW as a minimim in your case. I do subscribe to the "buy where you want to stay most trips" philosophy. I simply don't think the price difference from the very highest to the lowest is enough to make it worth the risks involved gambling for non home resort reservations. IF that price difference is enough to make it not affordable, it's likely not a good choice to buy at all. Simply rent when you do decide to go.

For those with your stated goals, I think SSR is the best value at present and buying less points now and either going simply S-F or using cash for weekends will allow you do stretch a smaller points package a long way. SSR has reasonable dues, good buy in price comparatively and expires in 2054. OKW will be a little cheaper but expires in 2042. You've likely looked at the points charts, if so, you'll see the standard view points for BWV. So one option would be to buy BWV and plan to stay there in standard view rooms for a portion of your visits and thus you could get by with buying less points. OKW, and to a degree SSR, also has lower points but other than most other resorts but other than possibly a 3 BR, you won't need to own those to take advantage of the lower points.

Buying HH or VB with your purpose is a major gamble IMO. Unless you wanted to stay at one of those resorts regularly, I wouldn't do it. The savings are meager and when you factor in dues, likely non existent.

 

[Coach81]

Risky proposition- along with annual dues. I suggest you think about this decision long and hard. General rule of thumb and advice on this board is... "Buy where you want to stay".

Good luck with your decision.

 

[Disneypapa]

will steadily increase over time as more and more DVC memberships sold. All of these members will want to stay at BCV or BWV at least once thus increasing the demand at the 7 month window.

In fact, it is likely that at some point in the future, the only reservations that you may be able to acquire are at your home resort ahead of the 7 month window.

 

[CheapMom]

You could buy a cheap OKW or SSR resale so you would have a place to stay at WDW and try to switch at 7 mos. They aren't much more than HHI, then when you factor in maintenance fees it is pretty much a wash.

 

[BillPA]

You might look at the time of ownership. Many resosts expire in 2042, OKW, BWV, BCV, VWL, HHI, and VB. OKW has options to extend to 2057 for an extra cost. SSR is good until 2054, AKV until 2057. I'm not sure on BLT but at least until 2057.

Also resale value, not many of us members planned to sell when we joined, but you never know what the future may require you to do. The on site resorts should hold their value better. IMHO

I would suggest buy where you don't mind staying. You will be able to try other DVC resorts most of the toime, but if you want to go to Disney World, buy there, anywhere on property is a great resort.

Good luck deciding, each DVC resort has it's pros and cons. You will get many opinions as to which is best... just remember that is a very personal chioce.

 

[minniemickey105]

Thanks for all the great advice! If I decide to purchase it will be at the BTL as it is on the monorail and Magic Kindgom is my family's favorite park. I am going to take this nice and slow and If I decide to buy I will do it mid 2009 as I do not want to rush into anything. I am still in vacation mode as I recently came back so I need to make sure I am thinking rationally when I finally decide.

 

[ACCREEL]

We went to WDW Sept 14-20th and took the tour... we had never heard of DVC and were very excited! When we got home I found the resale website and a month ago asked the same question... we thought it over and bought were we wanted to stay AKV!! We are so happy with our purchase and it means so much more that we own at WDW and at the resort that we think is so beautiful!!! Buy what you love, not what will make do.... its Disney!!!!!

 

[OneMoreTry]

If you DO decide to buy HH, you should at least visit once.
I own OKW and we have enjoyed HH a lot.
I have met several people at HH who bought HH pts for that specific property and have never used DVC at WDW.

 

[TXdeVille]

I joined DVC at the beginning of the year, after a trip to WDW like yourself. We have acquaintances (friend is a strong word) that have been DVC members for 5 or 6 years. They own at HHI and have never stayed there. And I don't think they plan on it. I'm thinking they most likely got it resale. They ALWAYS stay at OKW because they have the biggest accommodations for the lowest point cost. And they bring the wife's in-laws every time so a 2BR is a must. There is always something available at OKW. It's not for me though. I may stay there once just to check it out. I'm sure other people love it though. That being said, these same people bought another contract at SSR. I doubt they will stay there too. And they go to WDW no less than once every 2 years. And stay in Keystone using the Concierge collection which has been said is not a good value. They do it because it's easy and available.

I am ecstatic to have my first trip home at AKV in December. I can see me staying there for decades as we are a very outdoor family. I loved Animal Kingdom while my acquaintances did not. Everyone has their own preferences. I am with the others here about owning where you want to stay. Why pay maintenance fees on something that you will never experience? That's like paying for oil changes on someone else's car!

I would also push financing through Disney as opposed to resale. You likely get bonuses (developer points, credit per point). It doesn't go on your credit report. And, someone correct me if I am wrong, but the interest paid can be tax deductible as mortgage interest. You won't get that with resale.

As for me....I'm looking forward to an add-on or a whole other contract. Hawaii would be nice but the airfare alone wouldn't be worth it. I'd love BWV or BCV And I have heard that the Member Cruises are a great place to add on as great incentives are offered.

 

[simzac]

Thanks for all the great advice! If I decide to purchase it will be at the BTL as it is on the monorail and Magic Kindgom is my family's favorite park. I am going to take this nice and slow and If I decide to buy I will do it mid 2009 as I do not want to rush into anything. I am still in vacation mode as I recently came back so I need to make sure I am thinking rationally when I finally decide.

Very good thinking. I studied DVC for almost 10 years before purchasing a resale in 2006. Of course after our first trip to OKW, I wish I had purchased many years earlier. Good luck

 

[bangzoom6877]

Thanks for all the great advice! If I decide to purchase it will be at the BTL as it is on the monorail and Magic Kindgom is my family's favorite park. I am going to take this nice and slow and If I decide to buy I will do it mid 2009 as I do not want to rush into anything. I am still in vacation mode as I recently came back so I need to make sure I am thinking rationally when I finally decide.

I was the same way as I was still in vacation mode when starting to look into DVC. However I did do a ton of research in a short amount of time (I am a teacher and was off in the summer so I was not going to work at the time), and DH and I sat down to talk extensively before making any decisions. We looked at our vacation plans for the future. We had decided when we were still at WDW in July (before even beginning to talk about buying DVC) that we will visit WDW every other year at least until our sons are out of high school, since Orlando is the one place we can visit many times and not get bored. Well, our sons are 3 and 1, so plenty of trips to take in the future. We also decided (especially DH was adamant about this one) that since the beds and rooms at Pop Century were small, we would feel much more comfortable staying in a room with a queen bed, especially after touring the parks all day. We did not get great sleep at WDW because we are used to a queen bed, not a double. In order to get a queen bed and stay on property you have to stay in a deluxe resort or a deluxe villa resort. DH also suggested staying 10 nights for each trip (we stayed 5 this time and went to parks 5 days!), and still go to parks 5 or 6 days. So we have more time to relax. So in today's money we were looking at over $3,000 just for the hotel for 10 night, in the lowest room category!!

The price of the BWV resale, and even with the annual dues, appealed to us. We were at first torn between BWV and BCV, but decided on BWV for the lower points needed for a standard view room. The pool at BWV is beautiful and we were not choosing BCV simply for the pool (many people do, this is just us and what our needs are). Also, BWV cost us less per point to purchase, and we can still walk to Epcot and DHS. So we chose that. We want to stay there every trip so we chose it because I like to book our trips well in advance and I will be on the phone with MS as early as possible 11 months out!!!

Just do some research, there are many helpful and wonderful people on these boards. Check things out and think carefully before purchasing. We bought now (closed Oct. 6th), and our first trip home is not until July 2010!