Should we join DVC or not? Need advice!

[HusbandAlwaysWorking]

missyndda:

I got the link to work now!

 

[jimmytammy]

Husband always working, hmmm, that sounds like me. With a title like that sounds like yall are good candidates for DVC. WHY?
Because, before you know it, you are not going on family vacations, you dont have time anymore, and on and on and on. It will happen.
BUT, join DVC and you will guarantee a vacation yearly that you should never regret. We are new members and we had all the same questions, except we didnt know about this site when we bought so we had to rely on DVC sales to answer. Same answers, other than the advice of purchasing a resale.
What I regret, 2 things, didnt buy sooner when pts were less and wish we had more pts. We like you have figured out how to make best use of the pts we have. Follow your gut instinct and do let your emotions and not just your brain help you make this decision. Then you shouldnt be dissapointed.
I hope to be saying Welcome Home real soon!

 

[CrayzeeDiz]

I was able to get $65 a point last year with disney. They were getting rid of the last of VWL at the time. The BCV are very popular and selling real well as Disney is using the old supply and demand theory and raising the price of those points to $84. There is a link right on this website that offers good dvc resale discounts. I would look into that as you can buy more points with your dollar. Also make sure your financing rate is good.

 

[jimmytammy]

When last yr did you buy your pts for WLV?
We bought direct from DVC also in Jan of this yr and paid $75 a pt.
Sounds like yall got a really good deal!

 

[Dean]

Originally posted by CrayzeeDiz
Dont pay $84 a point.. Buy a resale and save huge dinero. I bought at $65 apoint last year through Disney for VWL. We stayed at the BCV in october and believe me it was great but not worth an extra $22 a point. In my opinion every resort is great so why pay 30% more for one than an other. You could still stay at the BCV so why pay more.

I'm not sure I totally agree, at least not in every case. The following is designed just to get you to think about the issues and alternatives. There are reasons to consider buying directly from DVC. I would definitely buy where you want to stay and then consider how many points you need based on that. 310 points will not consistenly get you a 1 BR for 7 nights during the 2 weeks around Easter, that will require 350 points at OKW and BCV. Still 310 may be enough it you will go other times of the year and or if you don't mind staying 6 nights part of the time. Remember that OKW is less points as are some of the rooms at BW.

Especially if you want to go during Spring break, I'd buy where you want to stay most trips. If that's WLV, then buy there. As your children age you will likely need a larger unit for a few years at the point the kids can no longer sleep together. Also consider whether you might invite other family members. I would not buy much for extra points "just in case" as you can always rent points from another member or use cash for those special occasions. OTOH, I would not go through the points tables and figure out exactly how many points to buy based on that information unless you are buying enough points for a 2 BR at Magic or Premier.

I would still generally recommend buying resale unless you want BCV or SS or if you wanted a smaller package of say 150-190 points which are harder to find and tend to be more per point resale (I know you said 310 but others might be interested in the info also). The other issue is that the difference in price currently between retail and resale is effectively less. You can buy DVC at $80 per point but if you are looking at a resale, it's highly unlikely you'd be able to get it submitted to DVC before the price increase. It's likely the retail increase will also raise the floor on the Right of First Refusal, likely to around $65-66 per point. Since you usually pay closing, especially on the smaller contracts, and many over pay on the maint fees on resale, the price difference could shrink to as little as $1500 or even less. If you end up getting one years less points with a resale than through Disney, that wipes out any savings on resale. For large points packages, the savings are magnified for resale so it's definitely worth your while to look there first.

Another thought is you can buy what you find that fits your needs other than number of points and then add on later at the same or another resort. There is a 230 point Wilderness Lodge contract for $65 per point on a sponsors website. You could buy that then if you wanted more points you could add on through Disney at any available resort or buy another resale later. While 230 points won't get you a 1 BR premier time for a full week every year, it will get you a 1 BR for 6 nights basically every year assuming the day you leave off is a Fri or Sat night. It's also less expensive and less financing if you're going that route. Also remember that other than Home Equity Loans, there are precious few financing alternatives for resale.

Sorry to be so long, good luck.

 

[HusbandAlwaysWorking]

Dean:

Closing costs? I forgot about that. I guess it is just like arranging a typical mortgage. And, you're saying that financing is not really available through a resale company?

So, to summarize all of the great info everyone has posted for me, it's much cheaper to go through a resale company, but closing costs may lower this savings (because financing would be via a home equity loan (which has closing costs), where as through DVC directly, their financing has no closing costs...but through Disney, the 10.95% interest rate is much higher than the probably 6.5% equity loan rate).

Also, consider the date at which points become available. It's best to have a date that falls right before we usually travel. Also, make sure I'm buying enough points. And, don't sweat about keeping track of points because it gets much easier. And, as long as I book right at the 11 month window, I should not have a problem getting a reservation.

I've learned so much, thank you all!!

 

[Dean]

Originally posted by HusbandAlwaysWorking
Dean:

Closing costs? I forgot about that. I guess it is just like arranging a typical mortgage. And, you're saying that financing is not really available through a resale company?

That's right. I've seen Shontell post that there was only one financing company she was aware of that would finance resale of timeshares but I'm sure she or other knowledgeable agents could fill you in far better than I. A home equity or refi on your home might be the cheapest any way. The other option some have posted was floating the loan with non interest credit cards. To me this is very risky because if you mess up even once, it could cost you major bucks.

 

[CrayzeeDiz]

I bought last December VWL for $75 a point but I forfieted my first years points for an extra $10 a point off making it $65 a point. Being that my use year was in June I didn't have to wait long for my points.

My worst decision was not buying on our honeymoon in 1993. We had the cash and we loved Disney world and OKW. We have stayed in Disney anywhere from 1 to 2 weeks a year since then. My original knock on the DVC was that park passes were not included . I still think there should be a 50% park pass discount but what are ya goin to do.

I believe that if evryone thought like me and held out for passes back in 1993 they would have included them with the package.

Its hard being me sometimes.

 

[Chuck S]

CrayzeeDiz, I thought park passes were included as an incentive in 1993?! We got them with an add-on we did in Oct. '93, but not with our last add-on in 1996. Anyone know exactly when that promotion ended? I know we got them in 1992, and with 2 out of our 3 add-ons. ***

***Note to newer members - one of the original incentives in the early years of DVC was free park admission until the end of 1999 when staying at an onsite (OKW) DVC resort on points. The incentive was discontinued prior to 1996, but I don't know exactly when - perhaps when plans for the BWV were announced? Passes were issued for 1/2 the stated occupancy of a room: 2 passes for studios and 1 bdrms, 4 for 2 bedrooms and 6 for GVs.

 

[HusbandAlwaysWorking]

CrayzeeDiz, we wish we bought into this years ago, too. We stayed at the GF for our honeymoon in 1990, right before the DVC began, I believe. But, if we bought into this before houses, kids, stock market loses and kids' college accounts, it would have been paid for by now.

We have friends whose parents bought in the early 1990s, and got the free admission deal. I wish we bought the "Lifetime Park Passes" for $1,000 in the late 80s!! Anyone remember them?

 

[chrissyk]

Originally posted by CrayzeeDiz
Dont pay $84 a point.. Buy a resale and save huge dinero. I bought at $65 apoint last year through Disney for VWL. We stayed at the BCV in october and believe me it was great but not worth an extra $22 a point. In my opinion every resort is great so why pay 30% more for one than an other. You could still stay at the BCV so why pay more.

I second this! DH and I are in the process of buying in now through a reseller We just got back from a stay at WDW last week, and we went through the A-Z timeshare thing at the BW just to get some info. No way would I pay what Disney is asking when the same thing can be had for $18-$20 a point less on the resale market! Granted, we were not too picky about our "home" resort (looks like we will probably end up with the BW), so that may be a factor in whether or not a person chooses to go resale. Resale is definitely the right way to go for us, though

 

[sdamico71]

I say, GO FOR IT. I wish I knew about DVC before I went in December 2001. Would have purchased it then.
Things to remember --
1. If you purchase lots of stuff at the Disney Stores, DVC gives a 10% discount. Keep in mind Disney Club is ending, so this is the only way to keep the discount.
2. Puchase annual passes if you become DVC member. Stagger your visiting weeks so you get 2 vaca's out of one annual pass.
3. Gotta love the valet parking. VWL (where we are members) parking is a hike from the villas. Valet is FREE!
4. Only way you can pool hop legit.
5. Most relaxing vacation I have ever taken.
6. Bathrooms in the 1 BR (only place we have stayed) are phenominal. The jacuzzi tub is enough to make the purchase worthwile.

My husband and I sat down and figured everything out on paper money-wise. Although it seemed expensive b/c of the dues, it is certainly well worth it. Our 1 BR at the VWL for 10 days would have cost upwards of $4000 when we went. We went for 300 points. This is almost forced vacation. We always had something come up that needed our vacation money in the past and the money we spend monthly isn't really missed. I would never be able to afford staying at the Villas at any of the properties if it weren't for the club. For me, it is definately worth the expense and I recommend it often.

 

[Disney Doll]

There is nothing that we wish we knew before we bought other than we wish we knew how much we'd like it so we would have bought more points from the beginning!!!!!

 

[HusbandAlwaysWorking]

Am I buying enough points (300)? We plan on traveling one full week a year (probably April vacation), staying in a 1 bedroom (husband and 2 kids, ages 2 and 7 presently)? So many of you say you wish you had purchased more points earlier. What exactly changed? The number of nights you vacation per year? The villa type?

 

[jimmytammy]

The reason we wish we had bought sooner is because the price continues to rise. We bought at $75 a pt from DVC back in Jan and I think the price has gone up twice sice then and getting ready to go up again.

 

[Dean]

Originally posted by HusbandAlwaysWorking
Am I buying enough points (300)? We plan on traveling one full week a year (probably April vacation), staying in a 1 bedroom (husband and 2 kids, ages 2 and 7 presently)? So many of you say you wish you had purchased more points earlier. What exactly changed? The number of nights you vacation per year? The villa type?

It really depends on your situation, travel habits, family finances and the like. 300 is a nice chunk of points to start out with and you can always add on later one way or another. I did adress somewhat the number of points to buy in my first post but will deal more directly with that question here.

300 points will get you a 1 BR for 7 days pretty consistently. The problem would be if you were always traveling the 2 weeks of Easter, you might have to compromise by borrowing points or staying 6 days at times (avoid either a Fri or Sat night). There are many factors and they include your finances, if you only want to use DVC or the DVC resorts, do you go every year and stay on property, can you plan at least 7-11 months out, etc.? If DVC works out for you, I suspect you'll end up needing a 2 BR for a few years starting when your oldest in 10-12 as the children will not be able to continue sleeping togethere.

Still 300 is a nice round chunk of points which most people in your situation will make work just fine for their needs, even if they need a 2 BR for part of the time. You can always add on and you might want to add on at a different resort to give you a priority at more than one resort. Buying less points now will be cheaper in the long run if your financing, even with the price increases. Good luck.

 

[Chuck S]

HAW, everyones vacations habits are different. 300 points may be "just right" for you. You asked what changed that so many DVCers add-on. Lots of things influenced our add-on decisions. Our original purchase was 230 points - the minimum at the time. DVC was a new concept, OKW was still under construction, no units across the Peninsular Rd bridge had been completed, it was a calculated risk - timeshares in FL had a bad reputation. We became more comfortable with the concept. Also, our vacation habits changed, we were able to take 2 or 3 trips vs our prior 1 per year. Even though we seldom cook in the room, we decided that we liked the jacuzzi and laundry facilities of a one bedroom. The last add-on in 1996 was because of the only point re-allocation to date and an announced price increase - so we eventually grew to 345 points, and feel that that is enough for our needs.

 

[RJCPA]

Three words for you --- JUST DO IT!

(Where have I heard that before?)

 

[paults]

: TELL ME WHAT SOMETHING THAT YOU WISH YOU KNEW BEFORE YOU SIGNED!!


wish I knew about DVC years ago. We bought resale at BWV and love it.

I know your children are young but if they continue to go with you to WDW after age 17 you'll be glad you joined. Remember at regular hotels and disney resorts you have to pay xtra for more then 2 in a room. Sometimes $15 to $25 pp each night, that can add up.

Using all those pts on Fri & Sat nts. WOW!!! Why not just stay 1 wkend nt and save some pts?

We don't use wkend pts because we like to stay at other disney resorts on Fri, Sat and just relax but some others live by the fact that's why they bought them there points. But to each his own.

DVC, you won't regret it.

 

[RJCPA]

My DVC agent told me what I now know is the truth! He told me that I should have bought in 5 yrs ago (back when I got in). Seeing that I spent about $10,000 on two great pre-DVC trips, I guess that it makes sense.