Timeshare

[StorkRN]

We are going to Disney in Sept from Baltimore, MD. We don't know where to stay yet...Does Disney offer any discounts for hotel stays if you go on a timeshare tour? I would consider buying one, but I don't know exactly how it works. Everyone I talk to says it is expensive to own a timeshare because you have to make a monthly payment, which in the long run could pay for your vacation. And once it is "paid off", you still need to pay maintnance fees. Besides, they say you can only use it for one week out of the year and it must be the week you purchase. How much do the vacation clubs run in price? And, am I getting the right info? Many questions, but I am very confused!

Thanks for clarifying,
Stork RN

 

[Disney Doll]

To the best of my knowledge, Disney does not offer money off if you attend their Disney Vacation Club(DVC)presentation. I know that there are time share companies that do that.

The DVC is a little different than the traditional timeshare. You don't buy a week, you buy points. You then spend those points as you desire, based on the time of year you go, the size unit you stay in, and the length of time you stay. You buy the points once, and you get them every year.

For example, my husband and I bought 200 points in October 1997, at a cost of $12500. We took the option of financing them over 10 years, because that gave us the cheapest monthly payment, but we did put more money into the payment in those months where we had extra, so we paid it off in about 4 years. The only charges we have now are the common charges, which are about $65-$70 per month, or about $800-$850 per year(I don't have the exact numbers in front of me, but these figures are in the ballpark). So basically, for $800-$850 per year, I have the ability to stay about 21 days in a studio in one of the DVC vacation club properties. If I want a bigger unit(a 1,2 or 3 BR), the length of time I can stay decreases, because the # of points needed to book a larger unit increases. Every October, we get 200 points to spend renting our accomodations.

Why I like the DVC system, as opposed to a regular "buy a week" timeshare:
1. I am not always bound to the same week
2. I am not always bound to the same size unit. If we are travelling with others we can get a 2 or 3 BR unit. If it is just DH and I, we can get a studio or 1 BR unit.
3. In the 1 BR and larger units, you have a full kitchen and washer/dryer, which is nice for making snacks and breakfast(that's what DH and I use it for), and decreasing the amount of stuff you have to pack, since you have a washer/dryer. Some folks use their kitchen for meals, which can save you some on dining if you're of a mind to do that.
4. The level of accomodations are at least equivalent to a deluxe Disney hotel, and IMHO, are usually better.
5. You don't have to come up with a big chunk of money all at once to pay for your accomodations. IMHO, it's easier for me to pay $65-$70 per month, than have to come up with $1200 all at once.
6. It's Disney, so in general you can be pretty confident that barring some really unforeseen circumstance, they are going to be around.

My brother has a timeshare in Aruba through Marriott, and he says their system is very similar to the DVC. I think I recall reading somewhere that DVC and Marriott are #1 and #2 in the timeshare world.

We have never regretted buying DVC, not for one minute. It has made our vacations all that much better.

 

[dianeschlicht]

DVC doesn't exactly work the way you think of for a timeshare. With DVC, you buy a number of points. You can use those points to stay any length of time at any time of year you want to based on availablility. There are 7 DVC resorts (5 of them on-site at WDW), and you can stay at any of them with your points. The difference is that some of the resorts will "cost" more points for a stay than others, and different times of the year will "cost" more points than other times of the year. The key is to figure out how many points you would need for your usual travel patterns, and purchase that number of points. The nice thing is that you can buy fewer points and travel everyother year if that suits you better. For example, some will buy only 150 points and bank one year into the next so they can use two years of points at once. They can also bank into the next year and then also borrow from the following year, thus having access to 3 years of points at one time. There are monthly payments unless you decide to either pay for it all at one time or use a home equity loan so you don't have as high an interest rate. The annual maintenance fees are between $3 and $5 per point per year. This includes your property taxes on your timeshare interest. That portion of your maintenance fees is deductible.

I reccomend you read the Frequently asked questions at the top of this forum, and ask any questions you have here.

 

[tjkraz]

Generally speaking, many people reflexively cringe when they hear the word "timeshare". And most of those people couldn't tell you the first thing about a timeshare--much less DVC.

If you run the numbers, you will likely find that DVC will pay for itself in under a decade, and from that point forward you would be getting 30-40 years worth of deluxe resort stays for a fraction of the cost (in the form of annual Maintenance Fees.)

If you plan to visit WDW (or Hilton Head or Vero Beach) at least once every-other-year and want deluxe accommodations, DVC is probably a no brainer. Ignore the ugly looks you get from people and determine for yourself whether the program suits your needs or not.

 

[Basser]

First the DVC is not a timeshare as you may know them. There are limits as to what week you may use the resorts. You purchase vacation points for a "Home Resort" with an assigned use year, for example I own 250 points at Old Key West with a Feb. use year. This means every Feb. I am recieve 250 points. I can use these points to stay at any WDW resort I wish as well as the DCL. I can also bank my points for for this year which would give me 500 points to use next year if I wanted to stay longer or take more than one trip to WDW. I can also borrow points if I wanted to plan a longer stay or multiple stays. I am not sure but I beleave the current price now is around $85 a point.
If you go to disney.com and visit the DVC site you can request an iimformation package. I hope this helps you.

 

[jodifla]

Particularly once you pay off the point cost, DVC feels like the best deal going.

We bought in '96, paid it off in 5 years, and now we go on multiple deluxe vacations annually for about $700. This year, for example, we'll spend about 15 nights in mostly one-bedrooms. Try finding a Days Inn for 15 nights for $700 these days, by the time you add in taxes!

 

[Dean]

DVC is the best for a subgroup of people. Namely those that will go routinely to WDW, pay money to stay at Disney's Deluxe resorts and eat some of the meals in the room. If it's a family, the savings and benefits are magnified.

DVC is not a good choice for one wanting to use it like a traditional timeshare, especially to use it for trading. If you want DVC, I can certainly support the decision. If you want another non DVC timeshare, YOU MUST DEFINITELY BUY RESALE. DVC can be had for 85% of the retail price but many can be found for 10-50% of the retail cost. You should visit, spend at least 6 months evaluation, then decide what's best for you. A non DVC timeshare will be FAR cheaper.

As for paying for itself as noted above, it depends on what you compare it to. If you compare to the rooms you get with DVC or the WDW deluxe hotels , you may very well be able to "pay for it" in 10-12 years depending on specifics. If you compare to off site cheaper but nice hotels or off site timeshares bought resale, you'll never catchup financially.

 

[MiaSRN62]

If you want another non DVC timeshare, YOU MUST DEFINITELY BUY RESALE.

I agree with Dean on this. We bought our week at Vistana (1 mile from WDW) resale. And we don't own a "fixed" week. We own prime floating so we can go most any time of the year. We have a blackout period of about 10 weeks. Usually Thanksgiving falls into this period, but all other holidays are open to us. We're paid off with Vistana, so all we have is our maintenance fees every year and they run close to $600/year. Considering we get a 2 bed/2 bath/balcony villa every year, this isn't bad at all. The 2 bedrooms at Vistana run in the area of $200 (higher during peak times) a night and we own 7 nights. Same goes for DVC. For what I pay in maintenance fees, it's well-worth it. I'd never be able to afford to stay in 2 bedroom (or even 1 bedroom) accomodations on-site for the cost of my yearly maintenance fees.

I don't feel timeshares are as good for people who don't take vacations yearly. I know between the DVC and Vistana we make ourselves take vacations. But for someone who likes to get away spur-of-the-moment or who vacations every 2-3 years, I don't think DVC or non-DVC timeshare work as well. Just my opinion. I do know there are people who own DVC and non-timeshares who rent their villas out the years they're not vacationing, but I think I (personally) would find this more of a hassle and pressure to make sure I got my maintenance fees covered etc.

 

[bluecdr]

Like Mia we own a prime floating week at Vistana for a 2 bed villa and DVC points at 2 DVC resorts ( just closing on a third set of points at VWL).
The Vistana was purchased second hand on Ebay through a broker and cost $5,000 including closing. I have seen lower prices for a fixed week, down as low as $2500. The Vistana is a Sheraton timeshare resort and very good ( for a non DVC resort). It was significantly cheaper than the 250 plus points that I need at DVC for a week in a 2 bed villa. DVC points at a WDW resort vary between $70 to $84 each so even at $70 a week the points needed for a week in a 2 bed villa will cost $17,500.
The week at the Vistana can be difficult to rent out whereas renting out unused DVC points is easy and more than covers the maintenance cost.

DVC has the 'Magic'.
I let family use the Vistana and I go occasionally for a few days because a floating week can be split into 2 periods.
For Christmas we are going to BCV and maybe a couple of days at VWL for that touch of Christmas Disney magic.

 

[Blackunicorn]

Just one more thing to add--DVC ownership is for a limited time. The newest resort, Saratoga Springs, is opening in June, and those owners will have a 50 year contracts. The other resorts, which have been open longer, only have (I think) 38 years left on their contracts. Definitely something you want to add to your considerations. I think the best thing to do if you're considering DVC is to contact a guide, who can answer all of your questions and then some.

Dawn

 

[paults]

StorkRN

If I were you I would visit the DVC FAQ's board at the top of this page