Welcome to the Dis!
There are a few things to consider. The number of people in your party. How many children. Your preferred type of dining. The level of resort you will stay at. Just to name a few. Some people find the dining plan saves them money. Others (including me) find that they are not a benefit for their family. Without the dining plan, there is no real need for a vacation package.
With a package you must pay $200 per room at the time of booking. The remainder must be paid 45 days before your check in date. Canceling after this date will result in cancelation fees being charged.
With a room only reservation you pay the first nights rate at the time of booking. The remainder is due at check in. You can cancel without penalty up to 5 days before check in. You can purchase tickets separately by different means. You could buy them separately through Disney (online or by phone). Or you could by them through an authorized dealer such as
Undercover Tourist.
We have found over our last few visits that we can save a fair amount of money with a room only discount, tickets from
UT, and paying out of pocket for our meals. It is just DH and me. If you have children with you, the
DDP may actually save you some money, but you would have to look at the prices of meals you might be eating and do the "Disney math" to know for sure.