Originally posted by shortypots
I am trying to convince my hubby to buy into the DVC, but he is fighting me on it. So I was basically wondering a couple of different things from you current DVC owners:
Do you tend to use your points from year to year, or bank them to use in one lump sum?
This will vary greatly from one owner to another. Our children are both several years away from starting school, so we can travel during the "cheap" periods without worrying about school schedules. For that reason we decided to go with just 150 points for the time being. With our typical stay being Sunday to Thursday, we could take 3-4 trips every 2 years, depending upon the size of room we need.
As the kids get older, we will probably need to either reduce the frequency of our trips or add-on points.
Is there any cost to bank them? Do you pay your maintenance fees when you use them, monthly, or year to year?
No cost to bank. Dues can be paid in one annual lump sum or 12 equal payments throughout the year.
Which is the best resort to buy in?
Depends upon your own personal taste. Most people will tell you "buy where you want to stay", mostly because you have the largest exclusive window of opportunity to book at your Home resort.
Have you had any trouble getting other resorts when they are not your home resort?
By and large, no. There are a couple of exceptions, most notably Grand Villas at Old Key West (which are ridiculously cheap compared to the other resorts' GVs), and Standard View rooms at the Boardwalk Villas. Those are very difficult to get unless you own at the given resort.
December is also getting difficult to book due to the low point costs in the first two weeks. But all that means is that it's best to reserve at your Home resort 11 mos out for a December trip, and then try to re-book at another resort once you're within the 7 month period.
How difficult is it to rent your points, or let a family member use them?
Letting family members use it is cake. You just put their name on the ressie. Renting is permitted under DVC guidelines, but DVC will not do anything to regulate it. From time-to-time, DVC members will post on how they got shafted on a rental. But as long as you get 100% of the money up front and have written agreements, then you should be adequately protected.
Have you been pleased with your DVC purchase?
Haven't used it yet, but I'm certainly looking forward to it!!! We actually rented points twice and that was all it took to convince my wife. You can't beat relaxing in your living room or on the balcony while the 2yo naps soundly in the private bedroom.
Did you purchase through Disney or resale? What is the difference? Is there any benefit to purchasing through Disney?
We decided that we really liked Saratoga Springs, which you can only buy through DVC at present. The promotional pricing (was $79 per point, now $84 pp) helped, as did the 50 year contracts.
Main benefit to buying through DVC is the financing, which couldn't be easier. Also you can only get SSR through DVC, and that's the only resort with the 50 year contracts. All of the other properties only have 38 yrs left. Depending on your age this may or may not be a factor.
If you go with a resale, you will save a few dollars. But the process can take a lot longer, and depending upon your needs, it may be hard to find a contract that fits your needs.
Does anyone know what the current loan rate is for a standard 5year loan for DVC points?
For 10 years, direct debit, it is 9.75%. Not sure if it is lower for 5 yrs, but I do know there is no pre-payment penalty. So you can always finance for 10 yrs and make additional payments.
I would love to go every year, and if we owned down there, it would make it a lot easier. Of course, his opinion is if we were going to buy a timeshare, buy in one of the other timeshare resorts for half the price.
Our main reason for DVC was wanting to stay on-site. To us, you can't "do Disney" any other way.
We also knew that a certain level of quality will always be present in the Disney resorts. Yes, I'm sure we will come across isolated instances of lackluster service or housekeeping fubars, but overall you know that you have a strong management company supporting your timeshare purchase.
Rocketriter makes a decent point about the value of DVC, but realistically that situation can change at any point in the coming years. If DVC were to stop exercising ROFR, the resale prices certainly will decline. But as long as DVC is actively selling points, they should contine to exercise ROFR when appropriate. After all, they would have serious trouble selling SSR at $84 or 89 per point if you could buy Wilderness Lodge at $50 pp on the resale market.
