Timeshares make me uneasy, yet DVC intrigues me

[amarberry]

It probably intrigues me because I've become Disney obsessed, but DH and I both grew up with skeptism of timeshares. My parents always said that they were a rip off and DH had family friends who went into bankruptcy because the bought a couple of timeshares that they couldn't afford. Not to mention, when we have been in Hawaii and Las Vegas, nothing irritates DH more than the pushy timeshare sales people.

All this said, I hear a lot of disboarders saying what a good deal DVC is and I am very tempted for us to take a tour when we are there next month. Could anyone give me the cribsheet version of why DVC is a good deal or point me to a thread explaining this?

I guess my biggest reservation about DVC is that we won't be as into Disney in a few years, yet we will be more or less committed to Disney vacations. In some ways, I can't see me (can't speak for DH!) not wanting to go to WDW since we've been averaging 2-3 trips per year the last couple of years and had a blast when we went before we had DD, but is this a common concern?

I guess I'm just looking for some advice to try and figure out if this is a good fit for us or not. Any guidance would be GREATLY appreciated!!!! Thanks!

 

[GoofysGr8]

Just a few thoughts on the subject matter, based upon our personal experience.

When we toured in December '91, we mentioned that we were "just looking" and please, OK to touch base in a month or so, but don't hound us. We called back in January '92--"I think we want to buy into DVC." We did. Best decision for us and our needs.

DVC has worked well for us--we make sure we USE our DVC, so we get our $$ worth. I would not go into hock to afford it. Some folks go out on a financial limb--which I think is bad. If you go there 2-3 times a year, it might be right for you--but pay it outright or pay it off ASAP. Our dues are still a yearly expense.

There are more than 104,000 families that are DVC owners. DVC shows up in the TUG2.net (Timeshare Users Group) top ten lists, so they are doing something VERY "right".

Information is power-- take a tour and "get you some power!" Tell the guide that you are there for info only and will NOT be making a decision. Tell the guide that you are apprehensive about feeling pushed--but they won't push anyway--they don't need to.

It is so nice...so relaxing... to stay in a DVC unit and enjoy MORE than a hotel room. It really is great to unwind in the familiar environment of our DVC.

Go get you some power, next trip--and know the comfort of making an INFORMED decision about DVC--if it will--or won't--work for you and yours.
Goof

 

[Marshay]

First, you can't compare DVC to other timeshares. Others are not in the same league. No pushiness in sales reps and Disney keeps the prices articifially higher than other timeshares with their right of first refusal (ROFR), where they buy back time shares that have too low a price on resale.

With that said, the number one reason to buy DVC IMHO is because you know you will go to Disney for the rest of your life (maybe not every year but at least 2-3 yrs) and you want or need the extra amenities that a regular room cannot offer.

For us, we have an 18 month old and my husband really wants a door separating us from her at night. We want the kitchen and the laundry and the deck/balcony and the living room area. There is no way we can get all this in a room.

So we can either pay $2K for a week at a deluxe resort and all be cramped into a single room or within 7 trips DVC has already paid for itself and we get an incredible 1 bedroom.

However, you have to do the research (this board is great!) and see if it is right for you or not. Another great site is mousesavers.com. Look up DVC once on the site. The author wrote a good article on whether DVC makes sense for your family or not.

You can certainly do more than Disney as there are hundreds or other places. However, Disney should be your main reason to purchase DVC.

Also, prices go up starting March 5th, so you may want to purchase before then, if/when you decide it is right for you.

Good luck in your decision!

 

[DrShifty]

I had the same reservations. DW and I are anti-timeshare people and have had many friends and family members who bought timeshares, who regretted it afterwards. You and DH will still be “into Disney” even as your life circumstances change. I thought that as my kids grew up, my DW and I would be less into Disney and our points would be wasted. In fact, our use has gone up (despite adding-on)- a BWV GV for 8 days for us and kid’s friends, DD wants a room for her and her friends during spring break, DW and I are alone for a week so, Vero and VWL last minute vacation, my nieces want to go with us next year. DVC is both easy and flexible- I’m a “book at 11 months out” person, but this year planned 2 WDW vacations with DVC 6 weeks out.
DVC isn’t for everyone but, if you go to WDW at least every other year, it makes financial sense. It changed the way my family vacations at WDW- large rooms with kitchen and laundry (we never cook but have snacks in the fridge and use the washer/dryer for a few loads every trip); much less “commando style” traveling- never feel guilty about pool, mini-golf, or tennis time.
So for you guys going 2-3 times per year now, it seems like a no-brainer to me both financially and for your Disney vacation lifestyle.

 

[drusba]

Frankly, before I bought Disney in the mid-90's, I believed, as many probably did, that all timeshares were a scam, with high pressured sales, quick loss in value, developers that enticed new owners with low maintenance costs that then skyrocketted later, management companies which were more noticeable for their lack thereof, locked in weeks, and promoted prices for the bad weeks to suck you in and then find out the good weeks are triple the promo price. As a lawyer, my usual thought was how do you go about suing timeshare companies not how do you buy a timeshare.

Disney turned out to be none of those. No high pressured shares, honest presentation and disclosure statements, readily admitted that the maintenance fees were higher than others but that those in fact covered everything, able to use anytime of year. We had become Disney addicts. Unlike you, we did not assume that would change for some particular reasons: (a) Disney offers more than any other vacation location -- parks, golf, restaurants, night shows, pools, shopping, ambiance; (b) we got enough points to always get a two bedroom (at BWV) and having that and being on site is unbeatable; and (c) we have a Down Syndrome daughter (now almost an adult) who we knew would always prefer Disney and Disney is about the only place we had ever gone where it and its the employees (and most of the patrons) treated her as a prized guest rather than something to stare at. If you are not committed to the idea of Disney every year then you have a possible issue. The trade out options do exist but those were of no interest to us.

As to whether it is a "good" deal price-wise, it depends on what you are comparing it to. Disney is generally more expensive than other timeshares both in price and annual fees. However, when you compare it to the usual rental cost of comparable deluxe accomodations at Disney, it is, in the long run, substantially less expensive.

 

[Dean]

As noted, knowledge is power. I would challenge your beliefs about timeshare in general. In many ways other timeshares have more benefit to offer than DVC. While DVC might save you 20% over time, other timeshare can save you 300% for other options. I actually like a number of different options together including DVC, Marriott and at least one other points system.

 

[jbthi]

I agree with Dean on this.

We own 10 timeshare, including BWV and BCV. You have to know what you are buying in TS. Don't pay developer prices, don't buy one just because it is cheap that you would never want to stay in. If you don't like it, chances are most people wouldn't and it's not going to have good trading power.

Besides the 2 DVC contracts we own, we usually stay 2 extra week there trading through II. We trade one of our weeks for DVC and II gives us an accomodation certificate for banking our week and we use that for another DVC week.

By the way, when I said don't buy from the developer I wasn't talking about DVC. That's a completely different situation as far as purchasing.

 

[jdvm]

I really think it's good to go into the "should I buy mode" with an eyebrow raised. I know other people will disagree but I think you should stay in a DVC resort and decide whether you would like to stay there on a periodic basis. It may be once every other year or 6 times a year. Then look at the cash cost of staying there with the frequency you have decided is right for you. If you decide that the DVC resort is not your idea of a great place to return to, or if you think you'd be just as happy in a value resort, I'd give it a miss. Yes, you can use your points for other things, but if this is a MAJOR reason for buying, there are probably more cost effecient ways of doing those other things.

If, on the other hand, you're like we were in 1992 when we stayed at Old Key West--which had just opened--and think, gee, it doesn't get better than this and we want to stay here whether we join DVC or not, then go for it.
John

 

[Splash Mountain Fan]

We had the same reservations about timeshares. We have only been members since March so while I realistically can't say whether it works for us or not, I certainly don't lose sleep over our purchase. Obviously, I think it works for us since we made the plung. Along with any other purchase, a purchase into DVC is a personal decision. It works from some, but not for others.

Financialy speaking, it also varies depending on ones vacation preferences and habits. For those who visit Disney once a year and are happy with staying in value resorts during value season, a purchase into DVC may not be a financial benefit. There are those who are also happy with renting other member's points.

For me, I like being a member and knowing that our family will share many memories at Disney for many years to come.

 

[Disney Doll]

OK, you asked for it. Now I am going to tell you my big ole DVC story!

DH & I were married in 1991 and went to WDW for our honeymoon. The DVC was just being built then...Old Key West (OKW). I said to DH "Shouldn't we buy that?" because we both loved WDW. Of course, DH being Mr.Practical Realtor said "Shouldn't we buy a house first?" I did not necessarily think so, but being a newlywed, I acquiesced.

Life goes on, we buy our house in 1994, we continue to go to WDW at least once per year. In 1997, we were there for a long weekend in September. Got such a deal at the Wilderness Lodge hotel we couldn't pass it up (there was no Wilderness Lodge Villas then). So, DH starts chatting with the DVC kiosk guy while he was waiting for me in the lobby. Lo and behold, when I arrive, DH says to me "Do you want to go to the DVC tour?" like it was his brillaint idea that I had had 6 years ago! I give the big , so off we go in the happy little DVC van.

The tour was nice...the usual filmstrip about how wonderful DVC is and so forth, with lovely pictures, maps of the current properties available (at that time it was OKW and the Boardwalk Villas (BWV). We tour the different rooms, and they, of course, were lovely. We talked to our guide Mark Webb, who was quite helpful, not at all high pressure, answered all our questions (did I mention DH is a realtor and drove the poor guy insane probably with all the real estate related questions).
So off we go with our packet of info, after having a lovely free (yes, we found something free at Disney!) ice cream sundae in their cute little soda shop.

Then the games began. DH researching the DVC. he researched it to death, from every possible angle he could thinkn of. He looked for every possible loophole...couldn't find any. Looked at it from a financial standpoint...wasn't bad. And so on, and so on, and so on. Meanwhile, no harassing calls from Mark our guide. He did call one time about 2 weeks after our meeting to see if we had questions. DH said no, he was still researching so Mark said "Well, I won't bother you again. Call me when you make a decision either way, or if you think of any questions I can answer for you". No pressure at all.

To make a long story short, basically what DH determined after all his researching was that if you are going to go to WDW at least once every other year, then DVC could be a worthwhile program. If you are the type who enjoys staying at a nicer resort, then DVC is definitely a worthwhile program. We are folks who liked staying in at least a Moderate level of resort at WDW. The DVC payment plan fit easily into our budget, as did the maintenance fees cost.

Bottom line...if you like to go to WDW at least every other year and buying into the DVC will not put you out on a financial limb, then it would certainly be worth your while to take the tour. Get the info and then make a decision.

 

[amarberry]

Thank you all for the information. It has been very helpful. We are going to be there in 3 weeks and I think that I'd really like to go on a tour. Now I just have to talk my DH into it! I actually requested the DVD many months ago, but we haven't watched it. I'll try to get him to watch it with me and we'll see if it intrigues him. I think he realizes that WDW is a regular part of our life now, so if he can see that it isn't a ripoff, I might have a chance.

Can anyone tell me a little bit about the tour? Do you pretty much go up to kiosk and just get wisked away? How much time does it take? We have a 2.5 yo DD. I think I read somewhere that there is childcare. What is the childcare like and could she stay with us if we preferred that?

I recall seeing the SSR deal at $86 per point which is now over, but do any of the DVC experts forsee any good deals coming up in the future? I'm also confused about closing costs. I thought I read somewhere that there are no closing costs if you buy direct from DVC. Is that right or is it just for add ons?

Thanks again!!!!

 

[Buckeye Fan]

DH and I went on a tour late December of this year. Great experience, no pressure at all. DS is 11 and DD is 4, so we left them at the playroom while we toured. If your DD's okay to be left alone, the facility was great. Tons of things to do and staff there to entertain. Snacks were available to them as well.

For us, we called from our OKW room. My SIL and BIL are members and we have been going down at least every other year for the past 5 or 6 years, so we thought we should look into it. We scheduled a time to meet with a tour guide. A van picked us up at OKW and took us to SSR. We met with Rafael Massa and asked tons of questions. The more you can educate yourself before your tour, the more clarifying questions you can ask. Take time to understand use year and how that fits into your vacation habits. Be sure and ask questions around trading out and understand what types of vacations you want to take (i.e., 1 week every summer per year). This will help you determine how many points you will need. We originally singed up for 316 points because it would get us a 2 bedroom room for 1 week every year during the summer and would be over what was needed to trade out for a 2 bedroom through Interval International. After the tour, we had our guide show us the way to the Artist's Palette for lunch. We made our way back for ice cream and the Disney van took us back to OKW. Even if we had decided not to purchase, it wasn't a waste of time and the staff treated us like royalty!!! In case you haven't read it yet. SSR timeshares expire in 2054, the new Animal Kingdom in 2057 and all others in 2042. SSR and OKW have the lowest annual fees.

For what it's worth, it may not be as good of a value as staying at WDW, but my SIL/BIL go great places every year through II. They trade out and have gone to Europe, Spain, Mexico, Carribean, Aruba, etc. They have been members since 1994 and have never looked back!

Lastly, we were offered $86 per point because of a friends and family promo. That's now over, so I'm not sure what deals they are offered. On new contracts, Disney charges for closing costs. For some reason, Disney's closing costs seem much lower (ours were $200 vs. $400 - $600 via resale). However, your cost per point is cheaper via resale. We ended up purchasing 2 contracts, passed ROFR and got both sellers to pay closing costs. That made purchasing via resale a little better deal for us. However, I would have purchased a different use year in hind-sight due to our vacation habits. All stuff to consider if you decide to purchase.

Best of luck with your decision!!!

 

[Diznut84]

Lots of people get ripped off when they buy timeshare from a developer, later change their mind, and sell for pennies on the dollar. You don't have to follow that course. You can buy top resorts during primetime for very affordable prices. You can also find top traders that work well.

You have to know what you are doing, but if you do, you can reduce your lodging costs dramatically using timeshares. The downside is that you will likely travel much more, and you will probably spend far too much on travel in general!

 

[BroganMc]

Can anyone tell me a little bit about the tour? Do you pretty much go up to kiosk and just get wisked away?

Yes men in mouse masks jump out of the bushes, throw sacks over your heads and kidnap you in a van that plays "It's A Small World" repeatedly. The kiddies think it's great fun.

Seriously, they schedule tours for you. You can schedule a tour by pressing a button on your resort phone or going up to one of the kiosk folks. It's all up to what is the most convenient time for you. The Preview Center is open 7 days a week.

How much time does it take? We have a 2.5 yo DD. I think I read somewhere that there is childcare. What is the childcare like and could she stay with us if we preferred that?

The general rule is 90 minutes, but it all depends on the questions you ask and conversations you get into with your Guide. You can keep your daughter with you if you like. She may or may not be bored with it.

The process usually goes like this: van picks you up and drives you to Saratoga Springs where the Preview Center is. You are greeted at the door and given name tags, then shown to the reception area where you can get drinks (coffee/tea/juice) and cookies. Your sales Guide arrives and spends a few minutes on introductions and pleasantries... names exchanged, where are you from, where are you staying, how do you like Disney, a general feel you out session so everyone ends up on a first name basis. You can come right out with your intentions and concerns then. This is how your Guide knows how to tailor the info for you. Then you'll either go on a tour of the resort or directly to an office where they give you the run down on the DVC system. They explain points, booking windows, trading options for hotels, other timeshares, and adventures by Disney travel packages. They tell you what's available now and what the best deals are. I found they never tried to oversell me anything but tend to tailor their recommendations to what you think you're family would use. Then they give you a tote bag with one of their slick hardback books on DVC and various financial info with the Guide's business card. You can take it with you and think on it. Absolutely no pressure. After the tour, they take you to the ice cream parlor where your family gets their pick of sundaes. It's a very cool room with a train circling overhead and the neatest world map design in the tables. They arrange transportation back to your resort or other destination.

It helps to know something of the system before you go. Getting the various point charts for the resorts and seeing just how many you need for your time of year stays is very helpful.

Other generalities:

1) DVC is more expensive than other timeshares like Marriott, but you're balanced with the amenities and perks Disney offers members (like Annual Pass discounts and free onsite transportation).
2) Booking windows are only important if you must stay at a particular resort with a particular hard-to-get room configuration or at Christmas and Easter.
3) If you must stay at the "little 3" resorts (Beach Club, Boardwalk or Wilderness Lodge), it's better to buy resale contracts and own there. They are smaller resorts so availability is limited. Not impossible, but can be a struggle at times.
4) If you think you'll only go every other year, or every three years, divide your number of points required and buy that amount. Then you can bank and borrow points.
5) Banking = saving this year's points for use next year (only good for one year) Borrowing = using next year's points for use this year
6) Never NEVER buy a timeshare except by cash or in a 6 month payment. If you putting yourself in financial prison to own, you are overstrapped. Think of it as a capital investment in your vacation future. You'll be making payments on it via the maintenance fees for the next 48-50 years.

 

[dvc at last !]

We had been to WDW a few times off property staying with friends
and on property many times. We also " just looked " -
and finally decided it was right for us. Talked about it for a few years, saved up some cash and did it. There is the annual dues bill, but it is worth every cent. Once you stay at DVC you can never go back to the other hotels.

Love being there and so does everone here. Our children
(young adults) love to plan for us !

 

[drtpaper]

We were convinced after we stayed with friends. There is no comparison of a timeshare and DVC. You can trade DVC if you want - but there is nothing like it. I only go every other year and we take friends with us. We get a two bedroom and a studio for 5 days and we stay offsite for 5 days to go to Seaworld and some of the other sites. I can rent any timeshare in the area for next to nothing but not the DVC timeshare. I even have points left over to cover my annual dues through rentals to my friends going down. I have arranged over a dozen trips for people. 50% of the people I rent points to are new DVC owners. My wife can not wait to get another contract at the AKV.

I am the exact person who would never buy in to DVC. I am too cheap and too much of a doubting Thomas that this could be a good deal. I have made my money back in 3 trips for what it would have cost me. I have a timeshare that is worth more than I paid for it. Try that with the others. Do not run numbers or think it through. Buy a contract with points, go on vacation and use them and if it isn't worth it, just sell it. You will get your original purchase price - they don't go down and all you will be out is closing costs and a small realtor fee - it will be less than your vacation cost. If you just buy a contract and collect rent (I am not a big supporter of this) you can get your purchase price back in about 14 years even after dues and still have decades to enjoy it. Try that with any other timeshare - you can barely rent it out for your annual dues. Believe me, I rent timeshares all over the place and have found that non-peak times go for maint. fees.

In the end, your family will always love Disney or just love Orlando, but after staying in a DVC quality resort, you will be spoiled. I took my family to a ski resort for a wedding and got a top of the line room and I will never forget my daughter's response - "Where's the rest of the room". We had a king suite but it did not have a kitchen, 2nd bedroom, or any of the Disney amenities. Enough said - buy the timeshare, enjoy your time with your family, and live well.