Questions for us who are considering buying...

[Camping Griswalds]

1. If you own DVC can you purchase an AP at the Florida rate??

2. Is the interrst you pay tax deductible?


3. Are the "upkeep or dues fees" deductible??


4. What is the average start out point to purchase??


5. Are the prices from Disney negotiable??


6. Is it cheaper to buy from an outside source??

 

[dvc_john]

1) no (unless, of course, you are otherwise an actual Florida resident)
2) yes, as long as it's a mortgage or home equity loan, and not a non-secured loan or credit card interest, etc.
3) only the portion that is for real estate taxes
4) I'll defer to others on this one, although the minimum buy-in from Disney is 150 points
5) no
6) Again, I'll defer to others

 

[emacman]

Dear Griswalds,
I loved your Christmas Vacation movie, it cracks me up every year.

seriously, I will attempt your last question. I suggest your first purchase go through Disney. I can't explain it but it really is magical. I have scoured prices and found them to be quite comparable really, so go with the real deal to begin ownership. If after you have been here a while if you want to add on keep a good eye out and you may find a good deal that is a resale. I just added 150 pts at OKW which has proven to be my favorite resort.
I originally bought at Boardwalk and later added Beach Club Villas all through Disney. I saw a deal on a OKW interest that allowed me to get into OKW which was long ago sold out and we took it. It is my first resale and I am still in process. The Timeshare Store helped me with it and Jerry Sydow is my guy and has done an outstanding job for me. My two cents for what it is worth.

 

[PKS44]

Properly shopped for a resale will be cheaper. It will also take longer. The difference saved may mean a lot or a little depending on the deal and how much saving different amounts of money means to you.

 

[JimC]

Resales: You can save money (generally 15% - 25% depending on the resort, contract size, bank/borrow/current year points and terms). You may end up buying a contract larger than you really want, so the savings may be consumed in more points and the associated maintenance fees over time. Everything is negotiable, just like any real estate contract. You must buy the contract as is (ie. a seller cannot split a contract -- but add-on contracts may be sold separately from the master contract). There are usually contracts for all of the resorts, except the newest ones, on the market. You must close before reservations can be made. You need to pay a bit more attention to how the contract is worded, then you do with Disney -- be very specific about what you are buying and who is paying what. If you do not have the cash to buy, there is one organization that I am aware of who lends for timeshares -- I have no experience with them. Otherwise you would need to arrange your own financing.

Direct: You determine the size of the contract and may be able to select your use year. Nothing is negotiable, except sometimes Disney offers Magical Beginnings (a program to buy back your first year's points -- the amount is set by Disney for each resort and they change it often). Disney always pays the closing costs. Financing through Disney is easy, but expensive (but no more than any timeshare would be). You can make reservations as soon as you make your deposit. Maintenance fees are pro rated from the date of contract, not date of closing. You can buy into the newest resorts, but may need to waitlist for other resorts.

We bought OKW resale and BCV direct at about the same time. There was very little difference in the time period from offer to closing. We used Pat at The Timeshare Store. She was professional, efficient and very knowledgable (formerly associated with DVC). Byron is our DVC guide. The guides are very low key, no hype or pressure. They take whatever time you need to learn about DVC and make your decsion. Byron is a classic gentleman, returns calls promptly, even when on holiday. We highly recommend both.

 

[Dean]

1. No
2. Usually yes if it's secured with the deed and you don't have a second property like a vacation home.

3. As noted, only the small part related to property taxes.


4. 150 points in the min purchase from DVC.


5. No, but resale is negotiable.


6. Usually be each deal and situation is different. It partly depends on home many points you want and what home resort.

 

[dianeschlicht]

While 150 points is the MINIMUM purchase, I think it is too small to really get the best use out of DVC. It used to be 220 points was the minimum, but they lowered it sometime in the mid 90's. We originally purchased 230 points, and found it to be not quite enough for what we wanted to do, so we added on another 150. Now we think we have the perfect amount for us. Be sure to look closely at the points charts for the resort you are thinking of buying into. This will tell you how many points you might need for the times of year and size of unit you will use most often.

Lots of folks buy points at different resorts so they can have the 11 month booking window at more than one resort. We chose to have all our points at one resort so we have the larger number available at once.

I would suggest you visit ALL the DVC resorts and see them all so you can decided where you would like to be as a home. They all have their strong and weak points. Some features will appeal more to your situation, so know WHERE before you purchase. Also look at the points charts, since those also vary by resort.

Good luck with your decision.