Resale vs. WDW

[yaoman]

Hi all. I'm a newbie and my wife and I are thinking about purchasing a DVC membership. Actually, I'm typing this from the living room at OKW - on a family vacation w/ my parents who are DVC members.

I'm thinking about buying resale because of the deals but am worried about WDW's ROFR.

My initial question is if we purchase a "home base", say Vero Beach, but don't have any expectations of staying there what are the disadvantages other than the 11/7 timing on reservations?

We would purchase Vero Beach because it looks like the points are cheaper and we could get more points for the dollar. Also, do you think there is any way that Disney would let someone sell points below 70 dollars. I see alot of Vero Beach offerings below $70/pt.

Second question, if we purchase at Vero Beach and want to exchange for a "World Passport" vacation does the exchange work like traditional timeshares where we would have to wait for someone to want to go to Vero Beach? Or doesn't it matter?

Also, I was thinking about purchasing two 200 point contracts. Can I deduct interest on my taxes for both as 2nd homes or only one of the contracts?

Thanks for any advice.

 

[J and R's mom]

First things first, I'm jealous of your current location...WDW!

I don't know the answers to all of your questions but I'll help where I can.

"Buy-where-you-want-to-stay" is a motto around these boards. Mainly because with SSR going up (a HUGE DVC property), getting rooms at the smaller DVC resorts (BCV, VWL, BWV) is getting harder and harder to do at the 7 month window. That being said, you can probably get rooms at SSR and/or OKW for most times of the year at the 7 month window.

One thing to remember when buying at Vero Beach is that the annual dues for that DVC property are higher than ANY of the other resorts. Yes, I do believe that Vero Beach can sell lower than $70pp but maybe someone from the Timeshare Store can chime in and let you know for sure.

I don't know the answer to your exchange question, but I'd assume it's the same for Vero Beach as it is for the other DVC properties.

Some states allow you to deduct mortgage interest and property taxes on two homes, but with two DVC contracts (and assuming you also have a home mortgage) that might count as three and, therefore, both DVC contracts might not be deductible. As many on here will tell you, you will definitely need to ask a tax professional.

Good luck with your decision and here's to hoping you join the DVC family soon.

 

[wdwfan]

Giving you a bump here. I'm also interested in buying into DVC and would like to hear more opinions and answers to the questions you asked.

 

[Cruelladeville]

If you can afford two-200 pt contracts, then you should make one of them at the place you want to stay. But, be serious, do you really want to invest in something where you may not be able to sell if you should need to? Yes, we all buy with the thought that we will be members forever until 2042, but, hey, things happen! You need to be able to sell quickly, and the best selling power is at the on-site DVC resorts. I bought BW at $56, and I can sell at $83 now. Vero's prices are flat. This is not the time to be frugal--it's the difference of $500 or so. If you can't afford the extra, you shouldn't be thinking of buying in, because owning is NOT cheap. You will take more/longer vacations. This is a wonderful luxury, but it IS a luxury. If you love Vero, terrific! But don't buy there if you don't want to stay there, ever. It's a foolish waste of the 11/7 window, and a foolish waste of your $$ resourses. Think long and hard before going this route.