Question from dvc novice - need advice

[mickey0624]

We are WDW regulars and have been to the World 20+ times. I have stayed away from DVC because I didn't really think it was cost feasible. We almost always stay at the Polynesian, as it just doesn't feel right if we don't. My question is basically is it worth it? What is the up front cost and are there any "hidden" fees. What about monthly/yearly dues? Any help/advice you could give would be greatly appreciated. We also usually take advantage of free dining. I've heard you can not have this option if using points? I'm leaning on the experts here for some help.
Thanks

 

[vicki_c]

I like the following bits of information from dvcnews and mousesavers:

http://www.dvcnews.com/index.php/dvc-program/dvc-for-beginners

http://www.mousesavers.com/dvc.html

No free dining or 4/3 offers or kids play & dine free or anything else when you stay on points, though.

 

[Sandisw]

Here's a start: DVC is a program that allows you to buy points and then use those points to stay at the DVC villas.

Poly is not one of them so if you really feel you would miss that resort, DVC might not be for you.

You can purchase a DVC contract direct or resale. Depending on which resort you want to be your "home resort" (where you buy your points), there are pros and cons in choosing which option is the best way.

Different resorts have different yearly fees, but they are based on the number of points you own. We own BLT, 180 points, and we pay $3.78/ppt in yearly dues. These do go up each year around 3 - 4%, although Disney has the right to raise them up to 15% (never happened at this point).

DVC works well for those that can plan vacations in advance. You get to book your trip 11 months in advance at your home resort and 7 months in advance at any of the other resorts. We chose BLT because we loved the CR location and only bought because they built there. We wanted assurance that we could get what we wanted so buying this resort allows us to take advantage of that advance booking.

Upfront cost really vary depending on what you purchase. If you want one of the newer resorts they are selling, BLT, GCV, or Aulani, then going direct is probably a good choice as they are limited in resale (and Aulani just opened for direct sales so that isn't even out there yet).

However, if you become interested in any of the other resorts, resale is definitely worth looking into as you can save money this way. Of course, my biggest piece of advice, especially knowing how important the Poly is to you is to take a trip and stay at a DVC resort, whether it be BLT, VWL, or any other one to get an idea how you feel NOT being at the Poly.

As I said, we only purchased when they built a resort that allowed us to walk to/from MK. We looked in to DVC prior to that and even though we could have bought in and saved money over those trips to the CR, we also knew we would not be happy staying at those places so we waited.

Good luck!

 

[mickey0624]

Here's a start: DVC is a program that allows you to buy points and then use those points to stay at the DVC villas.

Poly is not one of them so if you really feel you would miss that resort, DVC might not be for you.

You can purchase a DVC contract direct or resale. Depending on which resort you want to be your "home resort" (where you buy your points), there are pros and cons in choosing which option is the best way.

Different resorts have different yearly fees, but they are based on the number of points you own. We own BLT, 180 points, and we pay $3.78/ppt in yearly dues. These do go up each year around 3 - 4%, although Disney has the right to raise them up to 15% (never happened at this point).

DVC works well for those that can plan vacations in advance. You get to book your trip 11 months in advance at your home resort and 7 months in advance at any of the other resorts. We chose BLT because we loved the CR location and only bought because they built there. We wanted assurance that we could get what we wanted so buying this resort allows us to take advantage of that advance booking.

Upfront cost really vary depending on what you purchase. If you want one of the newer resorts they are selling, BLT, GCV, or Aulani, then going direct is probably a good choice as they are limited in resale (and Aulani just opened for direct sales so that isn't even out there yet).

However, if you become interested in any of the other resorts, resale is definitely worth looking into as you can save money this way. Of course, my biggest piece of advice, especially knowing how important the Poly is to you is to take a trip and stay at a DVC resort, whether it be BLT, VWL, or any other one to get an idea how you feel NOT being at the Poly.

As I said, we only purchased when they built a resort that allowed us to walk to/from MK. We looked in to DVC prior to that and even though we could have bought in and saved money over those trips to the CR, we also knew we would not be happy staying at those places so we waited.

Good luck!

Thanks Sandi. That's a lot of great info.

 

[Dean]

We are WDW regulars and have been to the World 20+ times. I have stayed away from DVC because I didn't really think it was cost feasible. We almost always stay at the Polynesian, as it just doesn't feel right if we don't. My question is basically is it worth it? What is the up front cost and are there any "hidden" fees. What about monthly/yearly dues? Any help/advice you could give would be greatly appreciated. We also usually take advantage of free dining. I've heard you can not have this option if using points? I'm leaning on the experts here for some help.
Thanks

IF you compare the Poly to DVC studios you'll come out cheaper and pick up the mini kitchen plus a few perks. Buying DVC to stay at the Poly would not be a good idea at all. With DVC you'd lose some control, some change/cancelation benefits and housekeeping. You'd have to plan ahead, at least 7 months and as much as 11 months or more, depending on your situation and time of year. You might be better off waiting to see if DVC opens a Poly component or buying a minimal contract to use for at least part of your trips until you see if that might happen or not.

 

[mickey0624]

We are very loyal to the Poly. Seems like DVC may not be for us.

 

[william1375]

Plenty of discussions on the cost-benefit analysis of owning DVC can be found. I believe owning DVC can be a sound investment if you plan on staying at anything other than the “value” resorts. Each has an upfront cost and different annual maintenance fees, all factors to consider. I have 2 small contracts AKV and BLT. I have lurked on these boards for many months and recommend you do your research here as well. Some general rules I follow: Smaller contracts allow greater flexibility and have greater resale value. Buy resale, but compare costs (closing costs can add up). Own where you would like to stay. Having the smaller contracts where you would like to stay allows you to pick the “budget” times that seem to be coveted by owners at 11 months. This does not apply to larger contracts and people who are not picky. Look at your needs over the entire 32-50 years, your DVC needs will change over time. Hope that helps and gets your discussion going.

 

[wdwnut]

Prior to buying in 2000, we stayed at the Contemporary mostly but also Wilderness Lodge and a time or two at the Poly. It only took 1 stay in a 1br at BWV to not look back.

 

[ToddyLu]

One of the main things I found frustrating was not being able to get a handle on the cost--I mean the nickel and dimes...without talking to a Guide and feeling pressured. So I post this as a reference for you. I wanted to purchase DVC, DH not so much. He was happy at Pop, but I wanted more. He trusted my gut on this and supported our purchase. I was going to buy at SSR due to cost, but he HAD to have AKV. We had always wanted to stay there but wouldn't have paid cash for that room--now we get savannah view. So here is my breakdown. We purchased 210 points at AKV last June for $93 per point. You can add up the mortgage plus interest at 10.75% preferred rate. So I think the buy in was $17,500 with interest after a 10 year loan...much more than that. So our monthly note is around $237 and our MF are about $80 per month. I know financing may be a poor choice for most people that purchase a luxury such as DVC. We decided it was worth it for us and haven't looked back. Just wanted to give you some specifics. We paid 10% down.

We loved, I mean LOVED our first stay last fall. There is no comparison, of course to staying at Pop, or Swan or POFQ (I had only stayed at these resorts)--our SV studio was just terrific.

 

[Crystal_27]

Until you start researching DVC, the costs are very daunting. A minimum buy-in of about $18,000 plus annual dues of $800 per year can seem out of the ballpark. However, when you start comparing those costs to what you've actually been paying over the years, you start to see that DVC can be a good cost-savings for your family. Like you, prior to DVC we stayed at the Poly, and would pay about $2,000-2,500 per trip for our hotel rooms. If you add that up over the course of 15 trips, that's definitely more than what a DVC membership would have cost us, including dues. AND, once you "break even" from the cost of your initial buy-in, the savings triple from there.

As to the free dining argument, once you factor in the "real savings" you are getting with DVC, free dining becomes a joke! For example, for our December, 2010 trip at BLT, the rack rate (which we would have to pay to receive free dining) would have cost about $550/night, or $7,700 for our entire 14 night stay, plus tax. For our family of 3, the DDP cost right at $1,400. So, for a trip that would have cost about $9,000 when you factor in park tickets, [free] DDP, and accommodations, is "only" costing us about $2,500 plus our dues of $800. There really is no comparision to the cost savings in that instance, and I've gladly said good-bye to free dining in favor of DVC!

Good luck with your decision!

 

[chalee94]

We are very loyal to the Poly. Seems like DVC may not be for us.

yeah, DVC's not good if you're loyal to the poly. or if you really like free dining.

if you are still curious, you might want to rent a stay at the BLT or BCV and see how it goes (and whether DVC differences like the limited mousekeeping are an issue for you) or if you still miss the poly.

but it's ok if DVC just isn't your thing...

 

[dianeschlicht]

We are very loyal to the Poly. Seems like DVC may not be for us.

Don't say that until you try a DVC stay in at least a 1 bedroom villa. We have stayed at the deluxes before buying DVC, and in my mind, there is no comparison! I'm not about to give up my kitchen, laundry room, Jacuzzi tub, king bed, living room etc, etc, etc to stay in a hotel room. Since you are used to the location of the Poly, you might try VWL or BLT. Frankly, I'm going to guess BLT is going to leave you cold after the Poly. Try renting one trip in a 1 or 2 bedroom and see what you think. I'd get pretty tired of staying in the same place every trip. We always visit a lot of the resorts each trip anyway, and the Poly is one of them we manage to hit each trip either for dinner or just a walk through. We look at resort hopping as one of the at tractions of staying on site.

 

[adminjedi]

My question is basically is it worth it?

It has most certainly been worth it to us. Yacht Club was a favorite for us, don't miss it a bit!