Thinking of buying DVC, please help, we have a few questions!

[4orm]

Hi! We just go back from our Disney wedding/honeymoon and are seriously concidering buying Saratoga, but only have 2 more days to do so to get a $3000 credit from Disney ($1500 for buying before Saratoga opens, and another $1500 for banking our points until next year). What we are wondering is if this is if we should take this route, or go through timeshare store?
What are the pros and cons of buying through Disney and through a resale agent? Thanks so much any help would be great!

 

[weathernlu]

Check your PM's.

 

[Happy Birthday Cat]

Congratulations.

Buying through Disney is very easy. You can get financing without a problem and it won't show up on your credit report if you make your payments on time. SSR has 50 year contracts.

Buying a resale gets you all of the same rights as anyone who buys through Disney but you have to arrange your own financing. A resale will get you 38 years instead of 50 but the price will also be cheaper per point.

Good luck.

HBC

 

[tjkraz]

Originally posted by Happy Birthday Cat
A resale will get you 38 years instead of 50 but the price will also be cheaper per point.

That about says it all.

The only thing I'll add is that financing through DVC is very simple and the rates are reasonable. If you buy a resale, you either need to pay cash or arrange your own financing. A home equity loan will probably give you the lowest interest rate available if it is an option.

 

[rocketriter]

For the next couple of years, if you want to buy at Saratoga Springs or if you want a 50-year contract (only available at Saratoga Springs) you'll have to buy through Disney. Otherwise, you should look into resale, which is a bit less convenient but much less expensive.

 

[sunan]

Buy where you want to stay...

unless you don't plan to make reservations more than 7 months out. Your home resort gives you the advantage of an 4 month reservation window before opening to other DVC members.

So if Saratoga Springs appeals to you, go for it. You'll have the home resort advantage, the longer contract, and easy financing. But if you primarily wish to stay at one of the other DVC properties (BoardWalk, Wilderness Lodge, etc.), you should look into resale. There are several reputable resellers out there who can help you.

http://www.dvc-resales.com/
http://www.atimeshare.com/cgi-local/listd.cgi?disy
http://www.dvcbyresale.com/
http://www.reid4florida.com/disney_hot_buys.htm

Good luck!

 

[paults]

but only have 2 more days to do so to get a $3000 credit from Disney ($1500 for buying before Saratoga opens, and another $1500 for banking our points until next year).

I could be wrong but I don't think they are banking your 1st year points and giving you a $1500 credit. {another $1500 for banking our points until next year} I think you are selling the 1st year points back to disney to use this $1500 credit.

 

[jodifla]

My main advice is BUY NOW before it gets any more expensive and before you have kids.

We did (through DVC, financing was EASY), and now the principal is paid off so we only have dues. (Well, we still have a small addon to pay off...) And now that we're living off 1.5 incomes instead of two, it makes a huge difference when we vacation with DS, 2. We can skip the Days Inn and stay in luxury accommodations, without sweating the costs.

In fact, I went on a biz trip, and spent for three nights what most cost in dues was for the whole year! And we're getting about 15 nights a year for the same cost as those 3 nights in an overpriced, rundown Hilton.

 

[SlyHubby]

A resale will get you 38 years instead of 50 but the price will also be cheaper per point.

SSR resales will begin showing up in 6 months - guaranteed. Same thing happened with BCV for those with short memories.

In the end, whether you get 38 or 50 years shouldn't make all that much difference to you - because when doing calculations, you will quickly see that over time, the overwhelming amount you are paying is in the annual dues. the initial buy-in costs, whether spread over 38 or 50 years is not going to be that much.

what you need to decide is if you absolutely must have SSR as your home resort.

 

[JudyS]

So, what *is* the current cost per point at SSR, with whatever promotions they are running? And when do these promotions end?

 

[tjkraz]

The current cost is $95 per point. Only promotion available is Magical Beginnings ($10 off per point).

With regard to SlyHubby's comments on the resales, yes they will begin to appear. However we don't yet know what the level of ROFR might be.

With the new 50 year contracts, DVC seems content in using that as a differentiating factor between SSR and all of the older properties. In other words, if the average resale is running about $70 per point, that is about 27% lower than the base price of SSR. However, with SSR you get 24% MORE years in the contract.

I wouldn't be at all surprised to see SSR resales being snatched-up via ROFR above the $80 threshold--particularly while the number of contracts on the market is very, very small. DVC has seemingly de-emphasized the sold-out resorts in favor of SSR. And, I think they are going to be very protective of that $95 price point for the resort.

Of course this is all idle speculation and I've been wrong before.