Still can not decide!!!

[lovin'Mickey]

I am really having a hard time trying to decide to buy into DVC at SSR. I know that in the long run it will be cheaper than hotels but right now comparing a 5 year loan with staying on site at PORS and buying annual passes (regular price at PORS and Discounted at SSR) I am loking at a price difference of $2162.04 for SSR the first year, $2633.04 the second (when I do not have to pay for passes). This is quite the difference, now I know that come the 6th year I will start making out but I am worried about making this final choice. Has anyone found themselves in my shoes? Have you been totally happy with your choice to become a DVC member? I am also only looking to buy the first 150 points to start knowing I could add on later if I need to. Any advice is welcomed!!!

 

[RweTHEREyet]

The ONLY unhappiness I have with DVC is when I have to borrow all my points because I have used them all and because I do not have enough vacation time.

I have no negatives to report.

 

[dianeschlicht]

Our only regret is that we didn't buy when we first heard about it. As with most timeshares, I think DVC only makes sense if WDW is a place you enjoy vacationing at least everyother year, and if you like to stay in deluxe accommodations. If you are used to All stars or a moderate, and don't mind those rooms, then DVC will seem extravagant to you. If you are used to staying in deluxes, then DVC will seem like a bargain, not only for the cost, but also for the additional ammenities. The flexibility of DVC works best if you can buy it with at least 160 points. That is the minimum you could use for an exchange. Less than that doesn't make much sense to me, because you lose half the flexibility. My guess is that if you are having a lot of difficulty making the decision, you probably aren't quite ready financially to take the step.

 

[lllovell]

I am really having a hard time trying to decide to buy into DVC at SSR. I know that in the long run it will be cheaper than hotels but right now comparing a 5 year loan with staying on site at PORS and buying annual passes (regular price at PORS and Discounted at SSR) I am loking at a price difference of $2162.04 for SSR the first year, $2633.04 the second (when I do not have to pay for passes). This is quite the difference, now I know that come the 6th year I will start making out but I am worried about making this final choice. Has anyone found themselves in my shoes? Have you been totally happy with your choice to become a DVC member? I am also only looking to buy the first 150 points to start knowing I could add on later if I need to. Any advice is welcomed!!!

Hmmm....so much positive I want to say about DVC here, yet a lot of the returns don't happen within the first 5 years, so if you are looking at such immediate returns, you will never be happy with the number crunching.

But take those numbers out a bit further if you can. In 10 years, what happens? Are you adjusting the cost of that POR room up by 3% per year (which won't always happen, but is standard inflation for hotel rooms)? Are you adding in larger accomidations as your needs change? I am staying at POR in a few weeks for the first time and I expect it to be fantastic, but not as amazing as the trip I just got back from at Old Key West. Its two totally different worlds (I have stayed at other moderates and they are so nice - but having all that extra space, a balcony, wonderful perks and bonuses, etc - they just dont add up to the same vacation to me). Do you go every year now (or every other year)? Do you see yourself enjoying vacations for the rest of your life and would some of them be at Disney or Vero Beach or Hilton Head?

My financial side said "noooo!!! are you kidding me? do we look rich here? have you seen how much this will cost?" and then I did more numbers crunching and figured out that after a few years, the returns are FANTASTIC! So, my heart (which wanted this badly) outscreamed my head and now I just wish we had checked out DVC sooner.

 

[RAD]

Comparing a moderate resort to DVC makes it a harder sell, usually people compare it against a deluxe resort for pricing since even the studio is larger them most of modern deluxes. When we made our decision we based it on the prices that WDW was asking for a stay in the deluxe resorts and figured in a few more years that there would be no way we could justify spending the dollars to stay there. Once we took the tour, saw the 1BR villa and looked at the numbers we've jumped.

We've also been able to do things we couldn't if we didn't own at DVC. In 2003 we hosted a family gathering, we supplied the rooms, they paid for anything else they needed. Based on what CRO was asking for rooms it would have cost us a tad over $15,000 just for those rooms based on rack rates. We're planning to do another one next year, this time for 24 people. The only way we can is doing the banking/borrowing dance and wipe us out for a year but it's a great family gathering.

 

[dianeschlicht]

Thanks for pointing out the famiily trips, RAD! I came back here to say that the most fun we have had with our DVC points has been treating friends and family to free accommodations at WDW and joining us for the fun!

 

[J and R's mom]

I am really having a hard time trying to decide to buy into DVC at SSR. I know that in the long run it will be cheaper than hotels but right now comparing a 5 year loan with staying on site at PORS and buying annual passes (regular price at PORS and Discounted at SSR) I am loking at a price difference of $2162.04 for SSR the first year, $2633.04 the second (when I do not have to pay for passes). This is quite the difference, now I know that come the 6th year I will start making out but I am worried about making this final choice. Has anyone found themselves in my shoes? Have you been totally happy with your choice to become a DVC member? I am also only looking to buy the first 150 points to start knowing I could add on later if I need to. Any advice is welcomed!!!

I asked myself the same questions...heck, I could have written that question myself.

The main things that I looked at when I was deciding, were how often I planned on coming to Disney World and where I wanted to stay when I came. Plus, flexibility to come whenever I wanted to instead of just a set time of year, and the fact that I'm not locked into only one resort--or destination for that matter--were huge selling factors for me as well. I like the fact that if I'm ready for a change, I can take a trip to several hundred other locations.

Another thing I like is that when I bought into DVC (10/03 at SSR) I bought in for 50 years. My girls are 2 yrs old and 5 months old and I have MANY years of great vacations ahead of us, especially now that we are DVC members.

I, like you are considering, only purchased 150 points and will add on later if needed.

The banking and borrowing feature is also very nice. I banked my first year and will use part of that for our upcoming vacation in December (our first as DVC members and the first with our daughters).

Obviously it's a personal choice, but since we planned on visiting Disney World every year (or at least every other year) AND we prefer the deluxe resorts, we couldn't pass it up any longer. I just wish we would have bought back in 1999 when we got married there.

P.S.--Congrats on the smoking thing!

 

[lizziepooh]

One thing that we considered was the ability to prepare some meals in the villas. By preparing breakfast and a few lunches or simple dinners, we have saved quite a bit of money. We may be in the minority, but we don't mind fixing a few meals. We found it pleasant to start dinner, then relax while the grandkids played or swam etc.

 

[Dean]

It is my opinion that few people should buy DVC and finance it. If you think it's for you, save your money and buy in. If you have doubts, rent from a member or look for codes. Buy a smaller resale contract, maybe BWV or OKW (best option for many).

 

[mikesmom]

We compared it to OFFSITE and came out ahead after a very short time. When we bought in DS was 16 years old. Dh did not feel that sharing a bedroom with a teenager was his idea of a relaxing vacation, so we tended to look for places like Embassy Suites, Homewood, etc. When we compared the prices there, PLUS that really high Florida tax, plus inflation (am I the only one that remembers before 9/11 there were VERY few discounts offered by Disney, the hotel prices went up steadily and some seasons you were lucky to get any room on property even at full price?) we felt that we broke even right at 5 years plus the accomodations were far superior.

In addition we saved a LOT of money on snacks and meals (an unexpected benefit), and have had the joy og bringing friends and family.

Our only regret is that we didn't join sooner.

 

[Dean]

We compared it to OFFSITE and came out ahead after a very short time. When we bought in DS was 16 years old. Dh did not feel that sharing a bedroom with a teenager was his idea of a relaxing vacation, so we tended to look for places like Embassy Suites, Homewood, etc. When we compared the prices there, PLUS that really high Florida tax, plus inflation (am I the only one that remembers before 9/11 there were VERY few discounts offered by Disney, the hotel prices went up steadily and some seasons you were lucky to get any room on property even at full price?) we felt that we broke even right at 5 years plus the accomodations were far superior.

In addition we saved a LOT of money on snacks and meals (an unexpected benefit), and have had the joy og bringing friends and family.

Our only regret is that we didn't join sooner.

You certainly didn't compare to off site timeshares which tend to be very nice and fairly large. You would have had to compare to about $700-1000 a year total out of pocket for a 2 BR. No way DVC would ever be able to compare as even the yearly fees are that high or higher.

 

[JimMIA]

I am really having a hard time trying to decide to buy into DVC at SSR. I know that in the long run it will be cheaper than hotels but right now comparing a 5 year loan with staying on site at PORS and buying annual passes (regular price at PORS and Discounted at SSR) I am loking at a price difference of $2162.04 for SSR the first year, $2633.04 the second (when I do not have to pay for passes). This is quite the difference, now I know that come the 6th year I will start making out...

I'm not sure what math you are using here, because you only give us the net, but I think just about anybody will tell you that you will not come out even or ahead the first five years unless you are in some REALLY unusual circumstances. If you feel you need a quick break-even to make this work, DVC is probably not right for you.

Having said that, I wonder if you are including your loan payments for the first five years and not including them for the remainder of the time. If so, that is not a valid calculation. To get a more accurate picture, you need to take your total cost including financing costs and spread it out over the entire ownership period. That annual amortization + your annual dues will yield the true cost.

Also, I would not consider AP pricing at PORS or the savings on APs available through DVC. Those happen to be benefits at the moment, but one or both of them could go away tomorrow. I would compare the prices you normally pay at PORS with DVC and forget the APs entirely. Don't base your calculations on a transitory perk like DVC AP discounts or AP rates at a resort.

 

[lovin'Mickey]

I'm not sure what math you are using here, because you only give us the net, but I think just about anybody will tell you that you will not come out even or ahead the first five years unless you are in some REALLY unusual circumstances. If you feel you need a quick break-even to make this work, DVC is probably not right for you.

Having said that, I wonder if you are including your loan payments for the first five years and not including them for the remainder of the time. If so, that is not a valid calculation. To get a more accurate picture, you need to take your total cost including financing costs and spread it out over the entire ownership period. That annual amortization + your annual dues will yield the true cost.

Also, I would not consider AP pricing at PORS or the savings on APs available through DVC. Those happen to be benefits at the moment, but one or both of them could go away tomorrow. I would compare the prices you normally pay at PORS with DVC and forget the APs entirely. Don't base your calculations on a transitory perk like DVC AP discounts or AP rates at a resort.

Very true , I am not counting on the AP with a discount, it is just what we do use now since we go every year. So I was just comparing.... anyway long story short DH and I just watched the video last night and with the help of all of you we were looking at it completley wrong!!! We have no problem staying in resorts like POP Century or value resorts...however our children are young (7,6,2 1/2 ) As time goes on we will want the deluxe or the home away from home resorts at which time we will be paying WAY TO MUCH if we do not get a DVC membership. After seeing how big compared to POP Century we have decided we will need to buy enough points for a 2 bedroom. I do not think I was looking for Immediate savings but until I saw them on TV I think I was picturing paying that much for a "hotel room" like room. Now I know better!
Thanks for all the help!!

 

[JimMIA]

...and with the help of all of you we were looking at it completley wrong!!!

Hey, that's our job! Our motto here is "Working together to help others get it completely wrong!!!"

 

[lovin'Mickey]

Hey, that's our job! Our motto here is "Working together to help others get it completely wrong!!!"

not what i meant I am sorry I meant to say with the help of all of you I realized my Dh and I were wrong you guys were all RIGHT!!!! LOL wow gotta watch how I type in the future..

 

[mikesmom]

You certainly didn't compare to off site timeshares which tend to be very nice and fairly large. You would have had to compare to about $700-1000 a year total out of pocket for a 2 BR. No way DVC would ever be able to compare as even the yearly fees are that high or higher.

Dean, you're absolutely right, we did not do any comparisons with offsite timeshares. Two years before discovering DVC we did visit an offsite timeshare (not an official tour) -It was lovely, and large, actually some type of condo development. Each unit was more like a small house, separate and with 2 or 3 bedrooms. I have no idea on ownership, I think it was a private developer. I have no idea of the costs involved. I will say that the drive across Kissimmee was a complete nightmare, another thing you avoid with Disney. At the time a sticking point was the child factor. DS (then 14) was certainly old enough and experienced enough to get around WDW on his own a bit, letting us take a break if needed. He was not old enough to drive back & forth. Even now the cost of allowing someone under age 25 drive the rental car is prohibitive. With DVC we can travel as a family, but not be "joined at the hip" for the whole trip.

Before we bought into DVC I did not know about these Boards and what I did know about timeshares was all bad. Thanks to your (and others) words of wisdom on these Boards I suspect if we were to do it today, we might be brave enough to get into an offsite timeshare without worrying about being ripped off. However, the experience of being onsite in DVC for vacations has completely ruined us for anything else!

 

[Dean]

Dean, you're absolutely right, we did not do any comparisons with offsite timeshares. Two years before discovering DVC we did visit an offsite timeshare (not an official tour) -It was lovely, and large, actually some type of condo development. Each unit was more like a small house, separate and with 2 or 3 bedrooms. I have no idea on ownership, I think it was a private developer. I have no idea of the costs involved. I will say that the drive across Kissimmee was a complete nightmare, another thing you avoid with Disney. At the time a sticking point was the child factor. DS (then 14) was certainly old enough and experienced enough to get around WDW on his own a bit, letting us take a break if needed. He was not old enough to drive back & forth. Even now the cost of allowing someone under age 25 drive the rental car is prohibitive. With DVC we can travel as a family, but not be "joined at the hip" for the whole trip.

Before we bought into DVC I did not know about these Boards and what I did know about timeshares was all bad. Thanks to your (and others) words of wisdom on these Boards I suspect if we were to do it today, we might be brave enough to get into an offsite timeshare without worrying about being ripped off. However, the experience of being onsite in DVC for vacations has completely ruined us for anything else!

This is why one of the issues when you discuss break even is you must define what you compare to. Off site hotels, off site timeshares, moderates, value Disney, etc. One of the big mistakes is members compare to onsite moderate, deluxe and DVC rack rates. A totally unreasonable and unrealistic comparison unless that's what you'd actually pay if you weren't a DVC member and even then you'd have to visit the same frequency as you do with DVC to make the numbers work financially. IMO, the most reasonable comparisons are as studio to a moderate at discounted rates or a 2 BR compared to two rooms at discounted rates. IF you talk BWV, BCV or VWL, you can justify comparing to discounted at rooms at the same resort or even discounted rooms at the DVC locations themselves. But someone who compares to rack rates of DVC to judge when they break even is simply out to lunch. But that's their right if they choose.

The cheapest way to do Orlando and WDW is at the cheap hotels in the area OR buying a cheap Timeshare and exchanging in.

 

[JimC]

We used several comparatives to make our decision in 2002 -- Our historic Disney vacation patterns (time of year and length of stay) was one. DVC would be less expensive if we replicated with a one bedroom at DVC our Disney vacation patterns.

We also compared one bedroom DVC to a mix of AP code moderate and deluxe resorts. DVC still did better. Finally we we used AP code moderates only and DVC was about even with the moderate only model. Our conclusion was that one bedroom villas were a much better vacation experience than deluxe resort rooms as a regular routine. We do stay at other resorts for conferences and to enjoy the very special deluxe resorts (Poly, AKL, GF -- soon), but only for short stays.

When we were researching Marriott Vacation Club earlier this year we did a comparison for DVC and MVC. We compared Marriott's Cypress Harbour to OKW and BCV at DVC.

Cypress Harbour (all two bedrooms) costs about half as much as an Old Key West one bedroom. The annual maintenance is about the same.

A two bedroom at Old Key West is just a bit more costly (up front and maintenance) than a one bedroom at Beach Club Villas. However OKW 2 bdrm is about 2.5 times more costly to buy and 1.4 times more costly to maintain than Cypress Harbour.

All comparisons were using resale prices back in January.

The DVC premium is worth it for vacations centered on Disney, but not for vacations away from Disney, in our view. We bought a week at Cypress Harbour for time in Orlando when we would go to Sea World and just general relaxing

We agree with Dean. DVC and other timeshares are best paid for in cash. If you do borrow do so only for short term liquidity needs and not because you can not afford to pay cash.