Resale: How many points to buy?

[vascubaguy]

Well, I definately have the itch and ready to buy! However, for me to buy right now I could only really afford to get a small number, say 50 shares. I don't see many listings for sales in this range and the ones I do see are either "pending" or the seller has them overpriced and won't budge. For those that watch the listings, do you see these listings for these smaller amounts often?

I was initially going to purchase 50 and then maybe get another 100 or 150 if/when I refinance my home (probably by the end of the year or first of next year).

Then I started thinking about closing costs... if I go this route I'm going to be paying a lot in closing costs for 2 transactions, so why not just wait and buy 150-200 at once? Might even make the per point cost drop some...

Thoughts?

BTW: Thank you to EVERYONE for your comments and suggestions. I'm really enjoying reading and researching all of the DVC info.


***Hoping to become a DVC member soon! BWV, OKW and/or SSR***

 

[JimMIA]

If you want less than 150 points to start, resale is your only option. Once you are a DVC owner, you can buy small add-ons directly from Disney if you choose, but initially they only sell contracts of 150 or more.

Also, you should know that small resale contracts go very, very quickly. I would suggest you contact one of the resale brokers and tell them what you are looking for. They'll contact you before advertising small contracts. That's about the only way you're going to get a contract of the size you are considering.

Your strategy is sensible, but you're going to have to be proactive to make it happen.

 

[TammyAlphabet]

Yes, closing costs will be high on a small contract, but that will keep you from having monthly payments on the points. As for the second set of points that you want to buy later on, why not buy through Disney and avoid closing costs all together? They will sell you any of the sold out resorts (if they have them in stock) or they will put you on a waitlist to buy if they are temporarily sold out. This will cut down on closing costs. However, if you are buying VB or HH, you may be better off buying through resale and just biting the bullet and paying the closing costs. Their resale prices are very attractive. I understand that itch, it is reoccurring.

 

[utahkennedys]

The Timeshare Store has a 50-point OKW contract right now. I bought a small resale and now am deciding where to do an add-on. I didn't want to finance DVC, otherwise some of the value disappeared to me if I was paying it forever...I think it's a great way to go! Good luck!

 

[tamu91]

If you're looking at end of the year to refinance your house and free up some capital, why not spend that time doing some research and start looking for that perfect contract You know the ones with mega banked points
Timeshare purchase isn't something you should rush into, just my two cents.

 

[vascubaguy]

The Timeshare Store has a 50-point OKW contract right now. I bought a small resale and now am deciding where to do an add-on. I didn't want to finance DVC, otherwise some of the value disappeared to me if I was paying it forever...I think it's a great way to go! Good luck!

I actually inquired about that listing, but they said the owners won't budge on price and accepting part of the fees. I'm still thinking about it, but it just seems a bit high compared to most OKW.

 

[vascubaguy]

If you're looking at end of the year to refinance your house and free up some capital, why not spend that time doing some research and start looking for that perfect contract You know the ones with mega banked points
Timeshare purchase isn't something you should rush into, just my two cents.

My problem would be that I would find lots of great contracts, and they'll all be gone by the time I get everything done. I'm still considering a small contract that I can afford now, but I'll definately be researching between now and end of the year to see if any good ones pop up.

 

[Disney Doll]

Well, if I knew that in a few months I'd be having some $$ to buy a larger contract, I'd probably wait and do it then, and avoid paying closing costs twice.

Basically, consider what your ultimate goal is as far as # of points. If you want a total of 150-250 points, then that's pretty do-able in one contract, and not so outrageous that if, God forbid, you ever had to sell it, that there'd be no on who'd want to buy it. Sometimes folks who bought those huge single contracts (350 points & up) have had difficulty selling them when they needed to, because a lot of folks can't afford or don't want that many points.

Plus, having one contract is a bit easier to track...not that 2 or 3 are impossible to track, but it just makes that smidge more complicated. I have contracts, 200 & 230 points, and I wouldn't want to have to keep track of many more than that.

 

[brianm27]

We just closed on a resale for VB for 50 points at $70. I paid cash so no financing was involved. I plan on adding points in the future through Disney directly. The minimum for add ons is only 25 points, not the initial 150 for first time. This will let us keep getting more points when we can afford them.

You could contact the Timeshare Store and let them know you are looking for a small contract.

 

[vascubaguy]

We just closed on a resale for VB for 50 points at $70. I paid cash so no financing was involved. I plan on adding points in the future through Disney directly. The minimum for add ons is only 25 points, not the initial 150 for first time. This will let us keep getting more points when we can afford them.

You could contact the Timeshare Store and let them know you are looking for a small contract.

Congratz on your purchase. I've got some leads on some 50-60 point places, but I don't think they'll make it past ROFR, but I might try anyway. I've talked to Jamie at TSS and she's on the look-out for me.

I'm still debating about future purchases of bumping up by 25 or just finding a resale and doing a lump of 100+. I was wondering, if you add-on 25, does it have to be at the same resort or can you add those 25 anywhere?

Thanks!