Resale vs Disney

[frkymcky]

I have a couple of questions about buying into DVC hoping you all can help.

1 - I was thinking of buying resale at Vero Beach, I can get more points for less $ how difficult is it to book 7 months out at OKW? or any other resort?

2 - What are the financing options with resale/disney

3 - How quick can one close thru Disney? I know resale can take 2-3 months total.

4 - Why would you recommend going thru Disney and not do a resale??

Thanks for your help!!

 

[abner1776]

I bought thru Disney back in 06 simply for the ease of the transaction..no waiting, quick closing, simple paperwork. Buying via resale will take longer since you have to put up with ROFR and put up with the seller and the agent.
Unless the price diff is sizable, I would recommend going thru Disney, but each to his own.

 

[Uncle Remus]

double post, sorry.

 

[Uncle Remus]

I bought thru Timeshare Store 'n had my membership number 'n two reservations in about 45 days.

 

[jrbdad]

I have a couple of questions about buying into DVC hoping you all can help.

1 - I was thinking of buying resale at Vero Beach, I can get more points for less $ how difficult is it to book 7 months out at OKW? or any other resort?

2 - What are the financing options with resale/disney

3 - How quick can one close thru Disney? I know resale can take 2-3 months total.

4 - Why would you recommend going thru Disney and not do a resale??

Thanks for your help!!

1. keep in mind that Vero Beach has the highest maintenance fees; over $6/pt

2. Disney offers financing, I think it is in-house, the rates seem to be a little on the high side to me, but it is available; I've heard that some resale offices do have cooperative agreements with some finance companies -- but have no idea what it looks like

3. we bought while on our vacation this past July. Did the tour one day, thought about it, had a few questions, met the next day -- had questions answered and closed that day. Paid closing costs + 10% down (did this via credit card), then had to pay the remainder within 30 days -- did this after we got home, again, via credit card, Disney visa -- to get the points

4. I really like my Guide -- he's helped me since the sale with various questions re: adding on, annual passes, where to stay, how best to use points, etc. I also liked getting the matching developer points to use at Saratoga Springs -- we've used them twice --- it was great.

Like the other poster said -- I like the idea of NOT having to go through Right of First Refusal and the ease in closing. JMHO

Best of luck with your decision -- regardless -- I don't think you can go wrong with your decision, we really have enjoyed our DVC membership.

Hope this helps.

 

[Buckeye Fan]

1 - I was thinking of buying resale at Vero Beach, I can get more points for less $ how difficult is it to book 7 months out at OKW? or any other resort?

I have booked at the 7 month window or less for almost all of my stays, and have gotten what I've wanted. I will say, we haven't been picky, and have tried almost all of the DVC resorts.

We mostly travel in the summer and spring break. If you want to travel during peak times (Christmas, spring break, etc.), or stay in certain types of rooms (BW view, AKV concierge, OKW grand villa, etc.) it will be more difficult. Also, if you want to primarily stay at WDW, I would buy points at a WDW resort. As time goes by, who knows where Disney will build resorts, and how many of those resort owners will try to book at WDW. It may or may not become more difficult to book at Disney. Time will tell, though.

The best advice...buy where you want to stay.

2 - What are the financing options with resale/disney?

Disney offers financing, but I agree with a PP that if the interest is high. If you have good credit and can get a home equity loan, that's a much cheaper route. The longest term with Dis is 10 years (at least a couple of years ago), and they had a couple of other options (maybe a one and three year?).

3 - How quick can one close thru Disney? I know resale can take 2-3 months total.

When you purchase through Disney, closing really doesn't matter because you can make reservations right away. With a resale, closing ranges from 1 1/2 months on the low end and 3 months on the high end. We purchased 3 contracts through resale, and from offer to reservation was about 2 1/2 months.

4 - Why would you recommend going thru Disney and not do a resale??

Ease. I agree that the Disney transaction is easier, but the resale route wasn't painful, just longer. On my VB points, I saved $36 per point ($5,400). Because Dis was offering a heck of a deal during the 15th year DVC anniversay and Friends & Family promotion, I only saved about $1,200 on my SSR contracts. If I were buying the same number of SSR points today, resale would save me over $9,000 ($78 per point via resale vs. $101 per point via Dis).

One last thought. VB buy-in price is low, but maintenance fees are high. No fancy calculations, but I figured my break even point was somewhere between 10 - 12 years. After the 10 - 12 years, it would actually have been cheaper to buy points at SSR. We purchased VB points because we want to stay there at least every other year.

Good luck, and welcome to the Disboards!!!

 

[frkymcky]

You are all so helpful, I appreciate all the info. My head is spinning - I think it is time to shut off the computer and go to bed. I will do more research tomorrow and will update where I stand. Have a good night!!!!

 

[Coach81]

You are all so helpful, I appreciate all the info. My head is spinning - I think it is time to shut off the computer and go to bed. I will do more research tomorrow and will update where I stand. Have a good night!!!!

Isn't it exciting!!!!

 

[Lynne M]

1 - I was thinking of buying resale at Vero Beach, I can get more points for less $ how difficult is it to book 7 months out at OKW? or any other resort?

I would just reiterate that the buy-in price for VB may be low, but the high maintenance fees mean that you'll pay more over the life of the contract than you would for the other DVC resorts. If you're considering VB because it looks like a bargain.....it's not.

As for the 7 month window....the difficulty of booking on-property resorts varies. The large resorts like OKW and SSR are pretty easy to book at 7 months, possibly with the exception of December. The period from Thanksgiving to New Years is most popular time to visit for DVCers, and all resorts book up quickly at the 11 month window. If you'd be perfectly happy staying at OKW or SSR, and you don't travel in December, you should be fine.

The smaller resorts like BCV, BWV and VWL are more problematic at 7 months. Forget December, and October and November can be tough, too because of the Food and Wine Festival.

AKV and BLT aren't completed yet, so we don't have good data on availability at 7 months.

You specifically mentioned OKW in your post.....if you like OKW, and see yourselves wanting to stay there often, buy at OKW. You'll never have to worry about the 7 month window, and over the long haul, it'll be cheaper than VB.

 

[Uncle Remus]

You specifically mentioned OKW in your post.....if you like OKW, and see yourselves wanting to stay there often, buy at OKW. You'll never have to worry about the 7 month window, and over the long haul, it'll be cheaper than VB.

Yeah, I think that's good advice to buy where you'd like to stay for that 11 month window.

 

[ohtarabell]

You are all so helpful, I appreciate all the info. My head is spinning - I think it is time to shut off the computer and go to bed. I will do more research tomorrow and will update where I stand. Have a good night!!!!

It get's worse. DVC is a cigarette for the hopelessly nostalgic. I have bought my first contract (through Disney), a resale that was ROFR'd, and a replacement resale all in the last 30 days. Here are my thoughts:

1.) This board is fantastic. In fact, it is not normal. There is nobody laying in wait to abuse you. I know this is shouting, but, ASK A LOT OF QUESTIONS, AND MORE IMPORTANTLY, RELAX YOUR IMPULSE BUYING (see above paragraph ). There have been Disney points for the last 15 years and there will continue to be Disney points for the next 15 years............at every single resort.

2.) I bought when I felt I understood what was going on. It didn't take long, but it did take a lot of reading. Most of it came from this board. I bought my first contract through Dis. It was because they made it easy and there was developer points that mitigated the cost differential between resale and DIS. And finally..............I wanted member cards to give my family at XMAS. Next purchase was resale. Resale may have been frustrating if it was my first time around. It's impossible for anyone to know how much you value limited frustration.

3.) Resale involves additional knowledge. It is not overwhelming, but it is additional. If you don't know the difference between a stripped and triple contract, you should read more.

There are a lot of differing opinions on this board. They are all valuable. If you keep asking questions, you will find the right answer for you. Take your time and make use of these fabulous people.

 

[Buckeye Fan]

There are a lot of differing opinions on this board. They are all valuable. If you keep asking questions, you will find the right answer for you. Take your time and make use of these fabulous people.

Couldn't have said it better myself. Ask away, as so many people are here and willing to help.

 

[frkymcky]

I spoke with my brother's guide and this is what they are offering:

$5 off per point at BLT which can be used toward down payment
Matching developer points to be used by 10/3/09 can only be used at SSR
February use year but points cannot be used until 9/09

I think that's it. Now here are some questions that I failed to ask perhaps some of you will know the answer:

1 - Are the incentives the same at AKV, I know the discount on points are different.

2 - Can I try to make a deal on the points that I will not be able to use until September, can I try to "sell all or some of them back" and use that toward my down payment as well?

3- Are you able to rent developer points?

Thanks again, I think I am leaning toward buying Disney direct. I am just trying to pick the right home resort.

 

[gray52]

JMHO... unless you really really want to buy at BLT, i think you should hold off for a few months and watch what the prices do on the resale market. We're already seeing the asking price drop for most of the resorts, so one would have to assume the final sales price is dropping as well. There are a lot more resales available now than a year ago and there's no way Disney is going to ROFR all of them if the prices drop within reason... IMO, the resale prices will drop.
Our dilema is weather or not to add-on at BLT while you can still get 25 or 50 points. Otherwise, we're waiting for 12-months or more to add-on elsewhere... my opinion is that if the economy gets much worse, the time to buy will be after the 2009 vacation season.

 

[photobob]

Regarding VB. As another poster mentioned the price may be less but the maintenance fees are quite high. Maintenance fees are the biggest expenditure over the life of the contract, more than the price of the points. I had the same thought as you until I realized how much the fees would cost in the long run and we ended up buying at SSR from Disney.

 

[frkymcky]

We decided that the best option for us was to buy resale. We took the plunge and signed the contract, now we just keep our fingers crossed that Disney is in the Christmas spirit and let it go thru!!

We bought VB because we were able to get a good amount of points for what we would need. I know the MF's are higher but the difference in cost per point will take 16 years just for the cost difference in MF's to affect us and by that point we may sell VB and buy somewhere else. I am so excited and was ready to burst when the seller accepted our offer!!!

Keep your fingers crossed!!! Thanks for all your help, you all have been great.

 

[5forDiz]

Good luck & hope you hear you've passed ROFR real soon !

Sending some extra to you

~ Laura