Thinking of buying Vero - Anyone aware of pitfalls?

[donaldbuzz&minnie]

We love Vero Beach! We find ourselves going every year, using our BC points to do it.

I'd love to add some Vero points to our "collection", but here's what I'm afraid of:

What would happen to my points if Disney decided to sell Vero Beach? Would I then own points at another company's resort instead of Disney points?

The MF's are already awfully high. If a hurricane or whatever did major damage, would VB owners be assessed repair costs?

At this point we will probably add points for another resort and continue to book Vero at 7 months. I'd like to be talked into buying Vero points, though!

Thanks.

 

[bobbiwoz]

We own at VB because when we travel with the family we want a Beach Cottage. The point distribution has made weekdays stays in one a lot more than they used to be, but still, we just love staying in one.

This year, I booked the BC with the VB points and waited until 7 months to get the OVIR's for our friends. When I can use other home points at VB, I think I'm getting a bargain because of the high MF.

VB never took off the way Disney wanted it to, so it's not the resort Disney had envisioned. I'm not buying any more VB points, we have 150. Unless you have a hard time getting in when you want to go, I wouldn't try to talk you into buying VB points. The idea of Disney selling off VB's property came up a few years back when the huricanes hit the resort and it had to close for awhile, so I think it's possible. Buying beachfront property is a risk, but we're willing to take it.

Bobbi

 

[JimC]

If you buy VB points you have an interest in that resort. If it were destroyed and not rebuilt you would be entitled to a proportional share of any insurance proceeds.

It is possible that you could have a special assessment because of storm damage or some other major capital replacement. I believe HH did at one point. Doc or others may be able to verify if that is true.

Run the numbers but the higher maintenance fees will likely more then offset the lower initial purchase price.

We enjoy the resort, but do not own there.

 

[starbox]

We felt the same way - always used our points for Vero. For us, it became a question of do we love Vero, or do we love that resort? For us, the answer was that we love Vero. Rather than adding VB points, we started renting property in Vero. Summer rentals are extremely affordable. Last year we rented a cute little duplex - about the size of a 2bedroom at DVC, and it was 650$ for the week.

Now we are back to using DVC points at WDW.

 

[Mom B]

Pitfalls...the only one I can think of, is, you'll have a hard time going to WDW without adding on a trip to Vero! If you already do that anyway, not a problem. Our first contract was our 100 pt Vero contract, which of course we bought because we were newbies and the points were cheaper (and didn't really care about the maintenance fees at only 100 pts anyway)...we really love WDW but can't stay away from Vero either so had to do a couple add ons at OKW and AKV so we could keep the Vero points for Vero...probably have to do another add on or two yet! But it's all good...the more "happy places" you have, the better! I don't worry about the risks much, hurricanes, whatever...whatever will be, will be...

 

[Dean]

We love Vero Beach! We find ourselves going every year, using our BC points to do it.

I'd love to add some Vero points to our "collection", but here's what I'm afraid of:

What would happen to my points if Disney decided to sell Vero Beach? Would I then own points at another company's resort instead of Disney points?

The MF's are already awfully high. If a hurricane or whatever did major damage, would VB owners be assessed repair costs?

At this point we will probably add points for another resort and continue to book Vero at 7 months. I'd like to be talked into buying Vero points, though!

Thanks.

IMO, the risk of DVC selling off VB is VERY low until at or near the end, I don't think it should truly come into play if the decision otherwise makes sense for you. Have you had issues getting what you want? Do you need more points? If you need points, it simply becomes a question of where best to get those points including costs, home resort priority, ?resale value, etc. Talk to the resellers about finding a contract with subsidized points, the price may be higher initially but might be cheaper long term.

If you buy VB points you have an interest in that resort. If it were destroyed and not rebuilt you would be entitled to a proportional share of any insurance proceeds.

It is possible that you could have a special assessment because of storm damage or some other major capital replacement. I believe HH did at one point. Doc or others may be able to verify if that is true.

Run the numbers but the higher maintenance fees will likely more then offset the lower initial purchase price.

We enjoy the resort, but do not own there.

Actually Jim, if the "unit" one owns is destroyed and not rebuilt, the member ceases to be a member at that moment with no obligation of any compensation other than a prorated portion of any proceeds available. If that "unit" goes out of service but is planned to be rebuilt, the member has full use of those points elsewhere during that time.

 

[JimMIA]

Also, during the 2004-2005 hurricane seasons VB was hit several times, at least twice pretty directly. There was some damage of course, but I believe insurance covered everything and there were no assessments to the owners.

 

[NewDCLGuy]

Disney doesn't really have anything of value to sell.

They make money managing the resort.

It's a positive asset for DVC.

No reason to even think about them"selling off" VB

 

[madcoco]

Also, during the 2004-2005 hurricane seasons VB was hit several times, at least twice pretty directly. There was some damage of course, but I believe insurance covered everything and there were no assessments to the owners.

Correct. We were fortunate not to be assessed. Double whammy from Francis then Jeanne. Jeanne really did the damage. Should have heard some of the assessment "horror" stories from some other condo developments on the Barrier Islands. Thank goodness there was not another major hit there. The Resort actually held up quite well considering. Besides insurance and higher upkeep required VB has also recently been upgrading infrastructure resulting in higher dues. Only you and your family can make the decision to buy. Don't let any of us talk you into or out of it. Unfortunately having higher dues, the threat of storms, etc. is the price you pay for a slice of Paradise.
2 Days after Jeanne