thinking of buying dvc Question

[likestravel]

I am thinking of buying dvc resale. I have looked at all the prices. Some of the resales were 85 a point but Vero Beach was so much cheaper than Disney properities. Doesnt it make sense to buy Vero Beach at a much lower cost and maybe get more points and then just use them at like Saratoga Springs etc. Am I missing something besides the booking window.

 

[RevBob]

You also need to take in consideration the yearly MF's. I believe that VB has the highest MF's of any of the resorts. Over the lifetime of your DVC contract, that can make a big difference.

 

[mikesmom]

You are missing a couple of things.

First, check out the monthly dues at Vero - they are quite a bit higher than any of the other resorts. Over the life of your contract you will end up paying far more for the Vero property.

Second, the 7 month window could be your undoing if you buy at Vero with the intent to stay onsite. You will not be able to book a non home resort until the 7 month window. There are MANY times during the year when that strategy just won't work - the DVC onsite resorts book up early. If you bought, for example at Saratoga Springs with the intent of staying at Boardwalk and Boardwalk was all booked up for your dates (and you made an 11 month ressie at SSR) , it can be a disappointment but you are still onsite at WDW. If you buy at Vero with that strategy and the resorts are booked up, it's a LONG drive to the park from Vero. Also, many folks come on here and say "we always go off season" and then get a nasty surprise when they find that off season for the parks is not the same as off season for DVC. Not that you absolutely can't get onsite at 7 months - but frequently you would have to use waitlists and change resorts in the middle of the vacation to pull it off. That's far too nerve wracking or troublesome for some people.

 

[DeeDeeDis]

As the post above says the maintenance fees/ yearly dues is higher at Vero Beach.

The other consideration is; are you picky when you go or where you stay at WDW?

If you're not then most likely it is not that big of a deal which is your home resort but if you can only vacation a certain time period during the year and/or only like staying at lets says Beach Club, then you really do need that 11 month window advantage.

Lately its seems to be getting harder and harder to get those last minute trip resorts, in the past i've always been able to book at OKW on short notice, but the last few trips even OKW has a waitlist.

So if you are purchasing DVC to be at the beach, then Vero Beach or Hilton Head is where you should buy. But if you want to be at WDW then i recommend spending a few dollars more and buying at one of the wdw resorts

 

[likestravel]

SO the only difference is my booking time if its my home resort its 11 month and other resorts its 7 months. So if my wife and I dont really care where we stay its not a bad idea to by vero beach which is $20 cheaper a point

 

[FreeTime]

SO the only difference is my booking time if its my home resort its 11 month and other resorts its 7 months. So if my wife and I dont really care where we stay its not a bad idea to by vero beach which is $20 cheaper a point

This would not work necessarily any more. As another posted said it is getting more and more difficult to book (in my opinion also) at 7 months. I used to book up to a week in advance and have no problem finding what I wanted somewhere. In the last 2 years I have not been able to book at 7 months except for a day in a studio, next day a 1 br, back to a studio, which we didn't want to do so we didn't end up going. Last week I selected several weeks in the summer that I was interested in and could only find one week in August that had a selection at several resorts. Even then the first day was not available at a couple.

If you plan on staying primarily at WDW then buy at WDW.

 

[chalee94]

personally, i would not buy at VB unless i intended to stay there. i would look at SSR or OKW as long as i could book at the 10-11 month point to make sure i could lock in a spot at wdw somewhere.

the risk that you will not find any availability anywhere at wdw at 7 months is a real one. you might never have a problem, but it can and does happen.

there's also an increased risk of storm damage on the coast which would cause a spike in dues or a special assessment.

a smaller risk is that DVC will decide to spin off the resorts not at the theme parks at some point.

but if the discount upfront is enough to encourage you to take a few chances, then knock yourself out.

 

[Sandisw]

SO the only difference is my booking time if its my home resort its 11 month and other resorts its 7 months. So if my wife and I dont really care where we stay its not a bad idea to by vero beach which is $20 cheaper a point

And the MF's. You have to add that into the cost. Your upfront costs will be less, but your yearly fees will be more and eventually will cut into that price difference.

But be careful because it is possible, unless you have the flexibility to go any day of the year, that you could be shut out of the Disney properties at the 7 month mark. Or, be shut out of the type of room that you want to stay.

For example, if it is just and your DW, you may decide to buy points with the assumption that you will be using only studios. But you try to book at 7 months and the only thing they have available is 2 bedrooms. It is certainly a gamble that you may regret down the road. Right now, the SSR or OKW contracts are going in the 70's and heard of some in the high 60's. If WDW is where you want to be, I would suggest buying points there--the lower MF will make up for that in the long run.

 

[Lynne M]

SO the only difference is my booking time if its my home resort its 11 month and other resorts its 7 months. So if my wife and I dont really care where we stay its not a bad idea to by vero beach which is $20 cheaper a point

You're thinking of the immediate savings. With timeshares, you need to think long-term. You're going to be paying maintenance fees for decades, and over those decades, VB is going to cost you more. If it's hit by a hurricane and there's an assessment, potentially a lot more.

The risk of not being able to get a villa onsite at 7 months is a real one. For the time being, you'd probably be able to get in at OKW or SSR, if you're not planning to travel in December. But if you're happy at one of those resorts, then why not buy there? OKW's maintenance fees are significantly cheaper than VB's.

Yes, your initial purchase cost will likely be lower with VB. But it's still a lot of money, and why spend that amount for something that will saddle you with higher long term costs, and will have you wondering every year whether you can actually get a reservation at WDW?

Think about it....there's a reason VB resales are so cheap.

 

[logan115]

SO the only difference is my booking time if its my home resort its 11 month and other resorts its 7 months. So if my wife and I dont really care where we stay its not a bad idea to by vero beach which is $20 cheaper a point

Am in a similar position as you (re looking to buy into DVC) and got tempted to buy the "cheapest" resale, but as others have said make sure you know what the risks are. Initially I looked at VB and HH due to the lower point cost (albeit offset by higher MFs) and thought "WOW - I could buy 100 HH pts for what it initially costs to buy 60 AKV points," then some folks here on DIS wisely posed the question of "Wouldn't you feel kind of silly if you want to go WDW and couldn't book anything on-site at 7 months ?" Ughhh.

Still have tons of questions that I need to sort out for myself (and my family too I suppose ), such as :

1) SSR looks to be the cheapest for the longer-term expirations (2054 I think), and I've stayed there before and liked it, but would I be happy to own there ?

2) We love BCV as it's so close to the Boardwalk, as our DS (5) had a blast on the Boardwalk watching the performers (he still cracks up when the video comes up on our screensaver), but do I want to pay $10/pt more to own their (vs SSR) AND have my membership expire 12 years earlier ?

3) So AKV seems like a good fit right ? Points cost about the same as BCV, and I get the extra 12-15 years, and DS (5) also loves animals - guessing DD (4 months) will too as so far she's a carbon copy of her big bro. But will the excitement of seeing the animals wear off quickly, after all we go to the zoos in Chicago about 5 times a year, so it's not like they won't ever get to see animals. But I'm very anxious to see pics of the new pool at Kidani

4) Seeing on other threads that you can buy-in to BLT for only 100 pts (hope it's true) at $107/pt. This is more than I am planning on spending, however when you take into account that there are no closing fees (save about $400), can finance thru Disney, and have lower MFs it's looking like a possibility. Saving on the closing fees is about $4/pt - so $107/pt thru DIS = $103/pt resale. If MF at BLT are $1.20 cheaper than AKV, than all other things being equal in 10 years I will have paid about the same for BLT as I would for AKV....

Ouch - now my head really hurts - apologies if I went off on a tangent, but just know that you're definitely not the only one struggling with these decisions.

Chris

 

[disneynutz]

Buying into the DVC makes sense if you:
Have the money to spend and you would spend it on vacations anyway and you love Walt Disney World and you would love to vacation there every year or two for the next 10 years.

If that's not something that you would love to do, then the DVC isn't for you. Notice the use of the word love? You really need to be passionate about your commitment.

If you are thinking about buying at a resort because it has the cheapest points, then the DVC is not for you. You will be spending thousands of dollars every year on your Disney vacations for the next 10 years, your resort accommodations are only a small portion of your expenses.

You need to buy where you love to stay. If you haven't stayed at the resort, how do you know that you will love it? Many members buy sight unseen and will profess that they love there new home while others will admit that they have never stayed there. Choosing a home resort is an important discision. In the future it may be the only resort that you can stay in. Booking at 11 months and 7 months is getting harder and/or the rules may change not allowing stays at other resorts.

Expect the worse and you won't be unhappy. Disney is in it to make money, you need to understand that. Your Guide will be your best friend before the sale but after the sale you may not talk again. Disney can and will change the rules and polices of the program as they see fit. I see the changes as Disney's way of squeezing out another dime, others will insist that Disney is trying to improve the member experience.

Disney will offer different "discounts" at different times at different sales locations to boost sales. Try to take advantage of them if buying direct. Nothing worse then buying the required minimum of 250 points at $107 per point, and the next week Disney offers, a 150 point deal with a free cruise and a $1000 gift card.

Take advantage of the resale market to save some money. Shop around for a broker, their fees do vary.

 

[Sandisw]

4) Seeing on other threads that you can buy-in to BLT for only 100 pts (hope it's true) at $107/pt. This is more than I am planning on spending, however when you take into account that there are no closing fees (save about $400), can finance thru Disney, and have lower MFs it's looking like a possibility. Saving on the closing fees is about $4/pt - so $107/pt thru DIS = $103/pt resale. If MF at BLT are $1.20 cheaper than AKV, than all other things being equal in 10 years I will have paid about the same for BLT as I would for AKV....

The buy-in at BLT for NEW members is a minimum of 160. The 100 pt. level is for current members.

Here is a thought (what I did): I really wanted to be at BLT but didn't want to start at 160 (was supposed to go to 200 but never did). VWL was my 2nd choice resort so I bought a small resale contract (that I paid cash for) there to get me into the "system"--closed on this 2/2/09.

The plan was to add on at BLT in August when I went on my yearly vacation. Of course, with all the hype of BLT opening early, I ended up adding on 100 pt last week, but now I have points at both places.

This will allow me to book 2 nights at VWL in a studio and then spend 3 nights in a 1 bedroom at BLT each year in the summer when I travel. I get 11 month advantage for both and if I want to, I can try to move the VWL ressie at the 7 month mark so I am at BLT the whole time.

In your case, maybe you want to consider buying in with a small contract at one of the resorts you think you want to stay and then add-on at your 2nd choice. It would mean some split stays if you can't trade out at 7 months, but does give you the best of both worlds if you are concerned about being stuck at one resort vs. another.

 

[logan115]

The buy-in at BLT for NEW members is a minimum of 160. The 100 pt. level is for current members.

Here is a thought (what I did): I really wanted to be at BLT but didn't want to start at 160 (was supposed to go to 200 but never did). VWL was my 2nd choice resort so I bought a small resale contract (that I paid cash for) there to get me into the "system"--closed on this 2/2/09.

The plan was to add on at BLT in August when I went on my yearly vacation. Of course, with all the hype of BLT opening early, I ended up adding on 100 pt last week, but now I have points at both places.

This will allow me to book 2 nights at VWL in a studio and then spend 3 nights in a 1 bedroom at BLT each year in the summer when I travel. I get 11 month advantage for both and if I want to, I can try to move the VWL ressie at the 7 month mark so I am at BLT the whole time.

In your case, maybe you want to consider buying in with a small contract at one of the resorts you think you want to stay and then add-on at your 2nd choice. It would mean some split stays if you can't trade out at 7 months, but does give you the best of both worlds if you are concerned about being stuck at one resort vs. another.

Good point - that's another angle that I may consider - THANKS !

For me, I still have 3 things that are up in the air :

1) Do my taxes and find out how much I'm getting back (yes - I know it's "bad" to get money back each year as I'm just loaning Unlce Sam money interest free).
2) Should find out in the next week or two about my bonus at work.
3) Suppose I really should tell DW that I'm seriously considering this At this point in time the only family member I've told is DD (4 months) as she's the only one that I KNOW can keep a secret.........

Hopefully in a few weeks time I'll have a much better idea of what I'm doing - thanks to all on DIS that have helped by answering my questions (which I'm sure you've all answered hundreds of times before) and providing advice - which I will take into account but will hold MYSELF accountable for any actions.

Out of curiosity - has anyone ever just flipped a coin to decide their home resort Just kidding..........

Chris

 

[Malaguti Ball Clan]

Buying into the DVC makes sense if you:
Have the money to spend and you would spend it on vacations anyway and you love Walt Disney World and you would love to vacation there every year or two for the next 10 years.

If that's not something that you would love to do, then the DVC isn't for you. Notice the use of the word love? You really need to be passionate about your commitment.

If you are thinking about buying at a resort because it has the cheapest points, then the DVC is not for you. You will be spending thousands of dollars every year on your Disney vacations for the next 10 years, your resort accommodations are only a small portion of your expenses.

You need to buy where you love to stay. If you haven't stayed at the resort, how do you know that you will love it? Many members buy sight unseen and will profess that they love there new home while others will admit that they have never stayed there. Choosing a home resort is an important discision. In the future it may be the only resort that you can stay in. Booking at 11 months and 7 months is getting harder and/or the rules may change not allowing stays at other resorts.

Expect the worse and you won't be unhappy. Disney is in it to make money, you need to understand that. Your Guide will be your best friend before the sale but after the sale you may not talk again. Disney can and will change the rules and polices of the program as they see fit. I see the changes as Disney's way of squeezing out another dime, others will insist that Disney is trying to improve the member experience.

Disney will offer different "discounts" at different times at different sales locations to boost sales. Try to take advantage of them if buying direct. Nothing worse then buying the required minimum of 250 points at $107 per point, and the next week Disney offers, a 150 point deal with a free cruise and a $1000 gift card.

Take advantage of the resale market to save some money. Shop around for a broker, their fees do vary.

Most Excellent points, I too am on the verge of making our decision I asked my guide if I could get a copy of the policies, disclaimers and other items that disney can contractualy change as they see fit, and was told I would get all those documents when I gave him my deposit. Although the deposit is refundable, I have never just dropped money on a major purchase without reviewing the terms. Does anyone know if the contract clauses are available online anywhere?

It seems odd to me, that I would have to commit funds (albeit not a big deposit, somewhere around 1k) before I could see the rules

 

[disneynutz]

Most Excellent points, I too am on the verge of making our decision I asked my guide if I could get a copy of the policies, disclaimers and other items that Disney can contractually change as they see fit, and was told I would get all those documents when I gave him my deposit. Although the deposit is refundable, I have never just dropped money on a major purchase without reviewing the terms. Does anyone know if the contract clauses are available online anywhere?

It seems odd to me, that I would have to commit funds (albeit not a big deposit, somewhere around 1k) before I could see the rules

The contract as expected, favors Disney. They have the right to amend and/or modify almost everything at their discretion.

Expect the rules, policies, and perks to change in favor of Disney and you won't be disappointed. This is their business after all and they are very good at it.

Business today is much different than a few years ago. Greed is all around us and a company's decisions favor upper management and stock holders. If Disney were to get a offer to sell out to another company they would probably take it if the price was right.

Bottom line is, being a DVC member can save you money in the long run if you take full advantage of ownership for many years.

 

[Malaguti Ball Clan]

The contract as expected, favors Disney. They have the right to amend and/or modify almost everything at their discretion.

Expect the rules, policies, and perks to change in favor of Disney and you won't be disappointed. This is their business after all and they are very good at it.

Business today is much different than a few years ago. Greed is all around us and a company's decisions favor upper management and stock holders. If Disney were to get a offer to sell out to another company they would probably take it if the price was right.

Bottom line is, being a DVC member can save you money in the long run if you take full advantage of ownership for many years.

Sure, If expect a meteor to hit my house next week and it doesn't then I would not be disappointed either , but.....am I off base for wanting to look at the terms of the both the DVC contract and Disney's financing BEFORE I give them a thousand dollars deposit which may be tied up for a few weeks if I decided not to buy into through disney????

 

[disneynutz]

Sure, If expect a meteor to hit my house next week and it doesn't then I would not be disappointed either , but.....am I off base for wanting to look at the terms of the both the DVC contract and Disney's financing BEFORE I give them a thousand dollars deposit which may be tied up for a few weeks if I decided not to buy into through disney????

I you are a, must read the contract kind of person, then put down a deposit, get the contracts and review them. You have 10 days from thedate of signing to resend. Plenty of time to read the fine print, and yes you will have your deposit tied up for a few weeks, but that's the price you pay. As a policy, Disney doesn't send out blank contracts for review.

The fact that it seems odd to you, that you would have to commit funds (albeit not a big deposit, somewhere around 1k) before you can see the rules is like me thinking it odd that people would buy points at a resort that they have never stayed at.

 

[Malaguti Ball Clan]

You know actually, it was not a big deal to me to see all the details, until they told me I couldn't. And you are right, it is odd to buy into a resort you have not stayed at, I have never stayed at AKV or AKL but, I can look at the photo's, read the reviews here on the Dis, see all the info on the DVC site and get a good idea of whats what, I don't really care about noise, extra square feet, and things of that nature, as I am a sailor by trade and am used to less than ideal conditions. But again, IMHO things like, we reserve the right to change your use of xxxx or increase xxxx by xxxx should be available just as pictures and videos are. Just as basic disclaimers are available to be read prior to buying a car, or any other purchase in that range. I knew more about my buying my 15 year old daughters mustang before I gave my deposit than I do right now about this transaction which cost twice the price...I guess it is just the percieved reluctance to make the details available without making the deposit that seems strange to me, as I have never encountered it before.

 

[Sandisw]

You know actually, it was not a big deal to me to see all the details, until they told me I couldn't. And you are right, it is odd to buy into a resort you have not stayed at, I have never stayed at AKV or AKL but, I can look at the photo's, read the reviews here on the Dis, see all the info on the DVC site and get a good idea of whats what, I don't really care about noise, extra square feet, and things of that nature, as I am a sailor by trade and am used to less than ideal conditions. But again, IMHO things like, we reserve the right to change your use of xxxx or increase xxxx by xxxx should be available just as pictures and videos are. Just as basic disclaimers are available to be read prior to buying a car, or any other purchase in that range. I knew more about my buying my 15 year old daughters mustang before I gave my deposit than I do right now about this transaction which cost twice the price...I guess it is just the percieved reluctance to make the details available without making the deposit that seems strange to me, as I have never encountered it before.

Unfortunately, the package of documents is huge so I can understand why they may not want to just send them out to people who may not be truly interested.

It really does put you, as the buyer, into a catch 22 situation, because you have to tie up money just to make the decision if whether DVC is right for you. Good luck with your decision.

 

[Malaguti Ball Clan]

Sure, I can understand the size of the document package is big, just like buying a house, but they could at least avail some of the biggies like point reallocation, limited use of xxxx until we change it...ect perhaps on a disclaimer type of webpage, will I take the plunge, most likely, will I reject after I receive the docs, most likely not, but again, their are odd variables that buyers should be aware of in timeshares, and we should have access to them prior to comitting the funds. Oh well, thats all, I have to go to my daughters banquet.