Thinking about buying in - Would VB be a good choice?

[jessicaerv]

After several months of lurking, researching and envying (is that even a word?), I have finally talked my DH into considering buying into DVC.

My question is... VB seems to be the lowest on the resale market (although I do see that the MFs are the highest). Since the total contract price is critical for my DH (we'd like to keep our purchase under $10k) would it be smart to buy here?

We don't foresee us ever staying at VB. Most likely we'd use our points at VGC (we're in Northern CA), Aulani someday and SSR someday. We only have one child who will be 2 in October so we aren't constrained by school vacation schedules yet, so we should be okay planning 7 months out for any resort.

Would VB be a good foot in the door property or should I just pay the $10 or so more per point for SSR or OKW?

Thanks for any and all advice - you guys are the best!

Jessica

 

[chalee94]

My question is... VB seems to be the lowest on the resale market (although I do see that the MFs are the highest). Since the total contract price is critical for my DH (we'd like to keep our purchase under $10k) would it be smart to buy here?

i would not buy VB if you intend to stay at wdw. too risky. it's cheap for a reason IMO.

*you risk getting locked out of wdw - it would be rare but the first time it happens, how would you feel?
*there is a risk of DVC spinning off the offsite resorts as independent timeshares
*there is a risk of coastal storm damage resulting in special assessments and extra costs (that's part of the reason VB has the highest annual dues in the DVC system.)

Most likely we'd use our points at VGC (we're in Northern CA),

even worse IMO. VGC is a pretty small resort and it can be tricky to book at 7 months, depending on what you want (1BRs might be easier, studios might be harder.)

i would buy at VGC if you mostly intended to stay there. if you were mostly planning to stay at wdw, SSR and OKW are great choices.

VB might work out fine for stays elsewhere most of the time...but it's too risky IMO.

 

[DebbieB]

After several months of lurking, researching and envying (is that even a word?), I have finally talked my DH into considering buying into DVC.

My question is... VB seems to be the lowest on the resale market (although I do see that the MFs are the highest). Since the total contract price is critical for my DH (we'd like to keep our purchase under $10k) would it be smart to buy here?

We don't foresee us ever staying at VB. Most likely we'd use our points at VGC (we're in Northern CA), Aulani someday and SSR someday. We only have one child who will be 2 in October so we aren't constrained by school vacation schedules yet, so we should be okay planning 7 months out for any resort.

Would VB be a good foot in the door property or should I just pay the $10 or so more per point for SSR or OKW?

Thanks for any and all advice - you guys are the best!

Jessica

One big thing to keep in mind is that VB will expire in 2042. SSR goes until 2054. VGC goes until 2060.

Also, VB has the highest dues of any DVC resort. For 2011, it's $6.57 per point vs $4.51 at SSR vs $4.07 at VGC. So your intial savings will be eaten up by higher dues. For every 100 points, you are going to be paying $250 more per year at VB vs VGC.

Although unlikely, it's possible for a resort to be taken out of the DVC system or a restriction placed to only stay at your home resort. If you bought VB, that is the only resort you could stay at if that would happen.

 

[JWG]

If you're looking for cheapest point of entry (so-to-speak) with access to WDW or DL, VB nor HH would be my first choice. As mentioned, VB has high high dues and any savings you'd get between there and say OKW or SSR would quickly be lost on dues.

It also appears resale prices have come down some as BWV and BLT contracts have recently passed ROFR at <$70/pt. I think you could get a decent contract on OKW or SSR for $10,000 and save money on dues in the long run.

The 7 month window is very difficult in DL - lots of people wanting to get in who don't own there. If that's a frequent trip, you may need to bite the bullet and buy there. It will be more expensive but the 11 mos. booking window is likely very important there.

 

[Paul Ware]

I've just done what you're potentially intending to do after a lot of research and thought. There are a lot of owners who say buy where you want to stay, whereas in my view, it's the $$ that talk.

There is of course some gamble in terms of what you have already read i.e Disney may pull VB out, or its damaged or they may remove the 7 month opportunity window, but to me its a lot of "what ifs".

I also couldn't afford the higher up front fees on some of the contracts but can manage the more costly annual fees at VB. In saying that, I did make quite a cheeky offer in terms of $ per point, which sweetened it for me.

You've had some great responses so far, I guess it depends on how much of a gambler you are???

Paul

 

[Starr W.]

I own Vero Beach points because we want the 11 month window for spring break and those really cool Beach Cottages.

Unsaid rule in our house, because of the MF's at VB, those points are for VB stays period, don't even mention using them anywhere else.

If we want to stay at WDW, we use our SSR points.

 

[Mickey'sApprentice]

If you want to keep your purchase under $10,000, consider getting a smaller contract.

This may or may not make sense for you coming from California.

I would consider purchasing OKW, BWV, or AKV because of the cheaper (OKW) or lower standard (BWV or AKV) view points.

Having 100 points would allow you to stay for a week in a studio or maybe a 1 bedroom every other year.

 

[Sandisw]

I agree with everyone that buying VB to stay elsewhere, in the end, does not makes as much sense as it seems to when you only consider purchase price.

First, many of the WDW resorts have come down in price and when you consider the costs of ownership (buy in and yearly MF's), many become a better deal in just a few short years.

Second, busy times for DVC are not the same as busy times for visiting WDW. So, what may seem as though it would be easy to get at 7 months, may not be. I can't imagine spending $10,000 and then realizing that you couldn't get what you wanted.

Third, buying where you are not okay staying could backfire if, as mentioned, Disney decides to remove a resort from the club--likely, no, but because they have the right, you are only guaranteed your home resort.

Good luck!

 

[Deb & Bill]

If you want VGC, you really need to own there. If you want WDW, you want to buy something at WDW.

 

[JimMIA]

Hi Jessica,

I don't want this to sound harsh, but if I were in your situation, I would not buy ANY DVC. I'll explain why below.

We don't foresee us ever staying at VB.

Then don't buy there -- for any reason. Dues constitute the vast majority of your expense over time, and VB's dues are very high. Plus, you have no guarantee of always being able to use your VB points anywhere else.

Most likely we'd use our points at VGC (we're in Northern CA), Aulani someday and SSR someday.

Long story short, you gain little or nothing by purchasing DVC.

There is no "onsite" at Disneyland in California, because Disneyland is just a theme park in the middle of a city that built up around it. WDW is the result of the lessons Walt Disney learned from the mistakes he made at Disneyland.

And if you want to vacation primarily at Disneyland, there are many other options that are better than DVC -- including other timeshare companies for a tiny fraction of the DVC cost, renting reservations from timeshare owners, and cash options.

Don't take for granted that timesharing is the best vacation solution for you -- it may not be. Research everything carefully, including non-timeshare possibilities. For timeshare vacations in the western US and Hawaii, there are several other timeshare companies which offer many more options, in better locations, for a lot less money.

I'd suggest that you go over to TUG (www.tugbbs.com) ane research timeshares generally -- and then companies you're interested in specifically.

 

[ajpruett]

I couldn't agree with everyone more. SSR is the best bang for your buck right now - # of years, MFs, plus you can get Tree House Villas with the 11 month window. I would buy fewer points now and borrow from the next year. By then you'll figure it out as to whether you want to add on somewhere else or not.

 

[canoe86]

By far the majority of the cost of DVC over the years is dues. BY FAR!

 

[karriemouse]

Hi Jessica,

We own at VB and VGC and love staying at both. With the travel plans you have listed, from personal experience I would not buy at VB.

If you primarily wish to stay at VGC I would urge you to buy there as you will need the 11 month priority window, especially once your child starts school and you are more restricted on dates.

Also the MF on VB are double that of VGC which adds up very quickly and will make a VB contract much more expensive in the long term.

It may take longer to find the 'right' VGC contract as there are not as many on resale but you will find 100 points for less than 10K.

Good luck!

 

[Mickey'sApprentice]

TSS has a sale pending on a 100 point contract at VGC that was advertised for $9,000.

If you choose to go DVC, be patient, and go for a contract that is right for you.

DH and I jumped on a February contract, when we preferred to travel November thru January. It has changed our touring.

 

[BirdsOfPreyDave]

Buy where you want to stay.

Also do the full math. I think you'll find that Vero really isn't the cheapest resort.

To determine the cost of a point in any given use year, here's the formula

(Cost per point to purchase / # Years on the contract) + Annual MF

 

[taaren]

We don't foresee us ever staying at VB. Most likely we'd use our points at VGC (we're in Northern CA), Aulani someday and SSR someday. We only have one child who will be 2 in October so we aren't constrained by school vacation schedules yet, so we should be okay planning 7 months out for any resort.
Would VB be a good foot in the door property or should I just pay the $10 or so more per point for SSR or OKW?

Nope, as others have mentioned, buy where you want to stay. There are only 48 villas at the VGC, so while some have had success at 7 months, availability will often not be there. Any time I have tried to add a day to my trip at VGC after 7 months I have been unsuccessful. Aulani & SSR are both huge resorts and will have decent availability (except for the Treehouses - if you want those you'll have to get a small contract there/rent points).
I used to live in the Bay Area and go to DL frequently (still do!), so to me the choice between VGC and other timeshare resorts is night and day ... walk into the parks vs driving, the quality is unsurpassed.
So, the advice being, buy a smaller contract at VGC - when you can go at low point times it'll strech your points into several small vacations if you're up for driving frequently or one or two longer vacations in a studio if you prefer that way. If you really want the SSR Treehouse Villas at some point in the future, you could always look for a 50 point contract there later on to use every 3rd year. (I keep toying with this idea but DH says we won't make it more than every 4-5 years and he's probably right.) Its hard for the West Coast people to swallow the ridiculous airfare to Orlando when we can drive/fly cheaply to DL.
If you feel like you don't have enough points after you use them a year or two you can always look for another small contract on the resale market at that time.

Another consideration, perhaps for later: one area where a resale might affect you is not being able to use your points at DLH or PPH ... its a nice back-up for if your points are expiring soon since there's no $95 fee or last 4 months of UY restriction and those hotels are beautiful though exorbitant price-wise. We've been in borrowing mode for awhile so no problem with expiring points but I'm glad all of our points qualify to be used there just in case. Direct is too costly to justify this, but perhaps if you add on later, it might be something to think about ...

 

[jessicaerv]

Thank you, everyone, for your responses. You all gave me quite a bit to think about. First, I am completely convinced to NOT buy at VB, so thanks again for the words of wisdom to not do so.

As Taaren said - its hard to swallow the high airfare (and long plane trip with youngsters) to Orlando when DLR is just a hop and a skip away. However, when the ankle-biter gets old enough to tolerate a long flight I definitely want to return to WDW. This is why I'm mostly considering WDW DVCs. And contracts in the 150 to 200 range. I will need/want to bank or borrow (or both) points for a long stay at WDW in order to get the most out of a trip to the other side of the country. Also I have decided to throw VWL into the list of contenders.

I've looked at the point structure at VGC because I was thinking of renting points for my next trip to SoCal in October. A studio in Choice Season for the 5 nights is 104 points, but I'd much much rather have a 1 bdrm which is 204 points. Already for a short trip I'd be over my points for the whole year. I could maybe swing a 250 point contract if the purchase price were lower, which is why I'm looking at the WDW DVCs.

Again, thank you everyone for your insight and advice. I will definitely be taking all of the information, mulling it over and coming to a decision that will be right for our family. As you all know - one should never jump into ownership without thoroughly considering ALL the factors!

 

[JLS]

I don't think you have to always "buy where you want to stay" as long as alternatives that are not in high demand would be acceptable to you. In your case you are wanting to use points at two of the resorts that will be in VERY high demand for the forseeable future. I believe that if you can buy a Vero contract for rock bottom prices (another threat reported prices in the $35 pp range) and you are willing to stay at SSR or OKW which are highly likely to be available in the 7 month window, it may be a good deal. But also look into OKW contracts where maintenance is lower and there also are good deals to be had.

Also, don't forget that your daughter is 2 now but in 3 years she will be in Kindergarten and you will be constrained by school schedules.

 

[wbl2745]

I'm glad to hear that you'll consider buying "where you want to stay." We bought at VGC, which is the nearest resort to us, and have stayed there twice. Both times it was fantastic! It sounds like you have children too, I'd recommend at least the one-bedroom units. The kids can sleep in the living room area and you can have some alone time in the bedroom. I don't know how young your youngest is, but we took our three girls (triplets!) from the San Francisco Bay Area to Germany when they were five. It worked really well, so I wouldn't worry too much about being too young to fly. I think the first time we took them on a plane was to Utah (1.5 hours) when they were one and a half.

If you don't want to trade out for Disney cruises or staying at non-DVC Disney properties, you might want to consider resale of VGC. It seems like about every other week something comes on the Timeshare Store.

Good luck!

 

[JimMIA]

I don't think you have to always "buy where you want to stay" as long as alternatives that are not in high demand would be acceptable to you. In your case you are wanting to use points at two of the resorts that will be in VERY high demand for the forseeable future. I believe that if you can buy a Vero contract for rock bottom prices (another threat reported prices in the $35 pp range) and you are willing to stay at SSR or OKW which are highly likely to be available in the 7 month window, it may be a good deal. But also look into OKW contracts where maintenance is lower and there also are good deals to be had.

Also, don't forget that your daughter is 2 now but in 3 years she will be in Kindergarten and you will be constrained by school schedules.

The other reason to NOT "buy where you want to stay" is if you cannot (because of family or work constraints) reliably plan more than seven months out. Many people can't do that, and if you're in that group the home resort booking advantage is really not any benefit to you.

And it can get even worse than that. For some reservations, you not only have to plan more than seven months out, you have to BOOK as soon as MS opens on the day your 11-month window opens...or you don't get what you bought that home resort for. In fact, some owners even make reservations a week or so prior to their intended arrival date and then "walk" the reservation to get the dates they want.

"Buy where you want to stay" works great for many owners, but home resort is actually irrelevant for many others.