received bad advice here

[chris1gill]

How's this: "The only mistake you made was not to buy into OKW!"

ROFL... OMG, that is one of them!!

I think I also recall one, someone will have to quote it.... Vero has the highest dues, the smallest rooms... oh no, wait, he said that about Boardwalk but he did mention the Vero resale!

 

[JimC]

I think of him and his responses often too! I wonder how many others. In January, DS and I stayed at BWV, and I think we had the room farthest from the elevator. Thanks to Richyams, I made it all the way to my room, giggling all the way, thinking of his comments about those long halls.

Agree. Rich and Nick are both missed voices on the DIS!

 

[Geubux]

I see. YOU make a bad business decision and it's OUR fault. Yeah. Right.

 

[4travelers]

If we sell now, we take a 1500 to 2500 hit just because we own at VB.

Nick if you compare the hit you are going to take to the hit you'd take IF you owned anywhere else OTHER than DVC, you'll be very glad you bought DVC. Remember most timeshares loose half their value the moment they are sold.

 

[CharlesTD]

I don't know about the bad advice here from what I have been reading over the past while just about all the advice here has been spot on. I myself am not an advocate of buy where you want to stay but that is just me. I would have to say it was more a research error or judgement error not bad advice. I am not trying to offend anyone but knowing the resort is on the coast and the likeleyhood of hurricane damage and the fact dues are higher would make most people run from VB ownership. We bought there because of the incentives at the time we have no plans on ever going there but like the fact we have the 200 points.

 

[Sammie]

If you got advice and the advice was Buy Where You Want To Stay, then that advice is stil good advice and still applies.

If you wanted advice on speculation on what the highest resale value would be of all the DVC properties then that was entirely different situation.

 

[greenban]

Dear OP:

I learned my most valuable lessons from Star Trek (TOS)...

Scotty, "If ye fool me once, shame on you, if ye fool me twice shame on me!"

Run, Run away now, and do not take anymore advice from this forum (such as renting your points for a couple of years, selling to me at $35.00 a point, etc.).

You already found out how 'bad' our advice can be....


Run, run very very fast!

-Tony

P.S. I know of a sure-fire investment oppertunity for your cash, when you sell VB, call me, we'll do lunch!

 

[WDWLVR]

I agree with Dean - anytime I've read "buy where you want to stay" I've always took it to mean WDW. It was more of a warning for those who wanted to buy at Vero because it had the lowest resale prices and best incentives. People were saying don't buy there just for that and then expect to be able to go to WDW any time you want (since you won't have the 11 month window).

We own mostly at BWV, but do own 100 points at Vero. We bought there because my in-laws love beach vacations. We use it to gift them stays and also use the extra points for other things (like the DVC Member Cruise or when we stayed a night at Beach Club last year).

The DIS is a great resource, but anyone who makes decisions just from what others think is doing themselves a wrong. The final decision is always yours - sorry you are disappointed by it.

 

[LIFERBABE]

The next time someone asks "Why not buy VB, and use it for WDW vacations" because the resale price is so low, we should dig up this thread.

The only reason I would own VB or HH is if that is where I planned on using the majority of those points.

When it comes to BWYWTS, Im more an advocate of owning points on WDW property and using the waitlist if you really want to save money on the purchase and dues. Some (myself included) are not that flexible so they choose to book at 11 months, most will get what they want 90% of the time using the 7 month window and waitlist.

 

[crisi]

Nick,

You first posted (under this user name) in Feb 2001. At that time you already owned VB points. The same month you were already posting in the "If you did it over again" thread that you were disappointed in DVC - the lack of available at WDW resorts with your VB points and the lack of value in the other collections. This is a long term bad fit for you, the hurricane situation may be the straw breaking the camels back.

The reason I looked is because I wanted to see the advice you'd originally gotten. You may have done a name change, or gotten your initial advice as a lurker (I pretty much did). Over the years there has been consistant advice (including buy where you want to stay) but its often had a lot of variation in it from different voice - i.e. Richyams cautioned anyone from buying VB for any reason IIRC, even if you wanted to stay there ('course he always thought anyone who wanted to stay at anywhere other than OKW was showing a lack of sense). And of late an undercurrent of advice on VB and HH has been "unless you are going at peak times, you can do better with cash rates and discounts."

 

[kathleena]

Did you ask the question about how the resale values are and get bad advice?

Because the advice of buying where you want to stay really applies to the 11/7 window - not to resale value.

 

[bcvillastwo]

No offense to anyone, but before we purchased, I reviewed this site for some time and the general consensus was to buy where you plan to stay. This is still good advice for the Orlando resorts, but I do not think it was good advice for us, since we like Vero Beach.

Actually, I think the OP makes an interesting point. The oft repeated mantra is "buy where you want to stay" which overall is good advice but as some other posters noted, many take it to mean at the WDW DVC resorts. As indicated by the OP the "buy where you want to stay" may or may not be good advice for HH or VB.

One thing's for sure, even with good advice, diligent research, carefully weighing pros and cons sometimes things just don't turn out the way we hope. Lets face it any time you make financial decisions there is a risk and despite our best efforts sometimes it winds up being a bad, or not so good, choice.

Good luck OP with your decision to hold or sell.

 

[jadejazzkayla]

buy low and sell high. that's the american way!

 

[wtpclc]

Mick - It osunds like you were given advice way before my time. However, on more than one occassion I have seen people say that if you want to go to WDW, buy there. Don't buy offsite. Sorry you feel you were led astray.

I'd demand a refund! (Sorry, couldn't help myself)

 

[ArRzrbk]

I too was taken in by the "buy where you want to stay" advice and give it out myself And it does make sense to "buy where you want to stay," if...

1.) You are going to be booking at peak times most of the time. FYI - the more posts I read on the 7 month window, and the more checks I do with MS myself on availability, the more I realize the 7 month advice seems to also be more of a mantra than reality, outside the really peak times (e.g. Christmas). For example, I was able to secure an OKW GV at less than the 7 month booking window, and I got my dedicated two bedroom at the BCV for April at just five months out - no waitlists required! I thought both would have been next to impossible. In addition, waitlists do come through. I've had luck two out of the three times I've tried.

2.) You are afraid that DVC might at some point in the future decide that you can only book at your home resort. I really don't believe that is gona happen, and I'm a worrier by nature

3.) You just want to say you own at a certain resort. The lovely lithograph to match is also quite an incentive

I do think it's good advice, if you consider all the other factors as well and don't just jump on board without thinking everything through - dues, your own vacation style (resort theme aside), initial cost, possible need to sell in the future (not an advocate of trying to make a profit off DVC), etc.

I am sorry that you are not happy with your Vero Beach purchase. We are actually considering an add-on there. Something good has come of this though. I am now re-considering that plan. When we add-on, I want to make sure we do so at the right resort for us and when we are financially ready to do so. Hang in there. Oh, and one last bit of advice - I would wait to see what happens after the hurricane assessment. You may be worrying for nothing. Take it from someone who does a lot of that!

 

[DrBond007]

Gosh, and I thought Vero bashing was a thing of the past. 1500 to 2500? The price of one vacation stay? That's what your squaking about? Do other timeshares hold thier value as well as even Vero Beach just after a direct hit by 2 major hurricanes?

Me thinks the advice was sound as is Vero Beach.

 

[nickglover]

Thanks for all the good advice and thanks to those who noticed I haven't posted in a while.

My only point was that perhaps the general advice should be qualified, as some of you pointed out.

To those who chose to ridicule and insult, well, I take the high road - it reveals more about your own character than I care to point out. Really, that is why I started my post with "No offense...". Geez.

I did do due diligence ( say that 3x) and did read these boards before we purchased (as a lurker). The only thing we did not anticipate is that dues would escalate as quickly as they have.

As some have suggested, we have decided to wait and assess the situation and possibly sell in the future. In the mean time, we are going to "squander" our points on a hotel in London and at Paris DL next year!

I am glad to hear many think there will be no special hurricane assessment at VB.

Yes, I too miss hearing Richyams weigh in on this topic!

We did not buy a resale - we bought directly from Disney.

My early posts mentioned that we had hoped the plan would be more flexible and reasonably priced as far as points for the Concierge Collection - I don't recall saying anything about staying in Orlando as we have been there a lot - maybe that was for one specific instance.

We never made the decision we don't want to stay at VB - my post clearly stated we plan to continue to go there, using cash if we sell.

I did not ask anyone to tell us a hurricane (or two) would hit VB. Geez. Two of the four hit our house, as well. I am not complaining. True Floridians are as resilient as the tall palms.

Again, thanks for all the good advice.

We love going to VB and look forward to our next stay, but we are going to NYC in May (will see Denzell Washington on Broadway and take a city tour) then to Yale to watch my niece graduate, and then to Mystic, CT, so we are trying some non-Disney vacations, including a 9/11 Carnival Cruise out of Tampa.

Nick

 

[nickglover]

Dr Bond - re-read post - 1500 to 2500 would be the difference in selling the same # of points at VB as compared to points at one of the Orlando resorts. Wake up.

 

[tjkraz]

I too was taken in by the "buy where you want to stay" advice and give it out myself And it does make sense to "buy where you want to stay," if...

Char,

That's a good list, but IMO you omitted the two most important factors to consider:

4.) You are ABLE to book vacations more than 7 months ahead. Some people have jobs / lives that prevent them from planning 11 mos ahead of time. And I'm sure that DVC "works" quite well for them. But the Home resort booking window is completely insignificant.

5.) You plan on vacationing at one resort the vast majority of the time. I think many potential DVC members have never stayed at WL, BW, BC/YC, and many more have never stayed at OKW or SSR. Some people will look at the theming at WL and decide they want to own there. Others will buy BCV because SAB has some appeal. But I believe that many, many more members fall into two categories:
a.) Appreciate the variety that DVC affords members and want to try them all, and
b.) Have no frame of rerference for selecting one resort as their Home.

 

[nickglover]

Crisi: Right under my name it says member since may 2000 - I'm sure I started posting around then, too.

All: I thought stating "no offense" was enough, but I should have added: (1) the advice was free, (2) I have received a tremendous amount of VERY helpful advice on other topics here, (3) DW did have a gun to my head when I signed!