Should we do it? Do we have the right idea?

[wedplanner]

Hello all! I'm brand new to these boards...here's my situation...My parents are about to sell their TS in a non-Disney resort. They had bought it about 3 years ago for the family to share but it has proven to be a dud...they bought in a place we don't go and we have all just ended up exchanging to Orlando for our yearly (Sometimes more )trips to Disney. I am thinking that we should just turn the money over to buy intp DVC as a family. (I'm one of 6 kids, all married 16 kids between us)

Anyone have any experience sharing between a whle family? I was thnking 250 points because if we plan right, more than one family could actually go a year (or take group vacations which we do often)
If you do share between family...how do you handle maint. fees and such?

TIA...I'm really leaning towards DVC!

 

[bobbiwoz]

Pixie dust for trying, I hope you'll be successful!

DH and I own a vacation home with my sister and we went to a lawyer for the wording of the agreement and we are satisfied. I hope someone can give you information relative to DVC!

Bobbi

 

[CarolMN]

IMHO, sharing one 250 point contract with 5 siblings is asking for trouble. Even if you are are all unusually close, there are bound to be problems resulting in hurt feelings.

For example, how will you reconcile the different point costs of each sibling's vacation?

How will you settle disputes in general?

What if someone gets divorced? Loses a job?

Who will be in charge of making reservations and managing the points. (You can't all be "in-charge").

I could go on and on with possible conflicts and problems.

My advice is don't do it. Let each family buy their own if they want DVC. If you don't use the existing timeshare, let your parents decide how to spend the proceeds.

DVC is not worth a rift in the family and I do't' see how you will avoid one!

Best wishes -

 

[dianeschlicht]

That still doesn't sound like enough to me. If everyone is amenable, divide the proceeds from the old timeshare, and have each sibling buy their own DVC membership. I can see all kinds of problems trying to share 6 ways! That way, all can book at the same time, and even share points with each other if they want to.

Since we are just a near retirement couple who likes to take famiy and friends, and we can barely make do with 380 points, I am quite sure 250 would not be nearly enough for that many folks!

 

[rocketriter]

Please don't be shocked if your old timeshare sells for less than you expected. Most of them lose cash value pretty quickly (with the exception of DVC, which is propped up by Disney's ROFR).

 

[wedplanner]

We thought that too but we have been monitering the market for re-sales at this particular resort and the current prices are going for about $5000-$6000 more than we paid for it.

You have all given me food for thought...As it is now, I "manage" the time-share and everyone goes through me to book. There are 6 families but since two of them have kids that are 18 + and one other barely travels It would really be three of us doing the bulk of the use.

My thought was to have whoever is using it that year pay the fees. or we could just spilt it between all of us. I know my parents would offer to pay the fees alone but I don't think that's fair as they are snowbirds and have a place in Florida already and it would be us who uses it not them.

Thanks for the feedback...I guess we have to think this through a bit more!

 

[DrTomorrow]

Two separate ideas have come up here:

1. Managing the "family" situation, regardless of the time-share. This is something that you'll have to decide, no matter if it's DVC or not. Some families (like my wife's) did a grand family vacation every summer (grandparents, 3 sets of parents, 11 grandkids including DW); others would rather have a root canal with no anesthetic than spend time with parents and siblings.

2. DVC - if you make a WDW trip every year, and you need more than one moderate or higher room, then DVC might be for you.

Best of luck!

 

[disneyberry]

<font face="times" size="+0">Yeah, I think that 250 points will not be enough for 6 families w/ 16 kids! I'm assuming there's gotta be at least 2 families w/ 3 kids, which means 2-bdrms at DVC. (1bdrms can only accommodate up to 4 adults.)

Perhaps some of your siblings are on better terms with one another? Maybe buy 3 separate contracts, each shared w/ only 1 other sibling? And when you need to go on a huge trip, you can always combine your points to book rooms.

I don't know the whole thing sounds pretty scary to me, but I don't have 5 siblings, and perhaps you guys are all very close. </font>