To buy new bcv or to try and purchase a resale????

[disneyisheaven]

We are considering buying a DVC property, not sure if it is a better deal to purchase a new or resold property as far as the treatment we may receive and the property itself. Has anyone out there purchased a used property and are you pleased or displeased and who could we get in touch with to do this?? Thanks so much.

 

[spiceycat]

the treatment is the same - DVC does not care where you buy - although right now I would definitely try to get BCV from DVC - they are selling out fast and if you buy resale - you don't get to determine what your points package will be - surpose you only decide to get 175 points - but what is on the market is 150 or 225 - if you want to pick then you must go DVC. If you are buying alot of points again DVC is the way because with DVC you can buy in small packages - so 150 in one and 200 in another - or you can even buy at different resort.

if you want to go with DVC you can all Judy Kaufman 1-800-827-7163 - she is my guide - right now (see Doc's memo) all the guides are having lots of calls because of the new openning of SSR. So if she doesn't get back to you immediately - it is because all the DVC guides are really busy. So I would mention that you really want BCV - so she will now that you are a prioprity - because BCV is running out fast.

 

[Richyams]

Buying where you want to stay is the first rule.

Find out more about the individual resorts. OKW, my personal favorite, is only available trough resale.

SSR, small units, higher points and dues, has an extra twelve years of membership. Its more expensive upfront, you can stay at other resorts with the seven month window.

For me, 2042 is far enough in the future not to worry about and OKW is where I want to stay, if I were buying today, I would go resale at OKW.

 

[dcfromva]

disneyisheaven,
I can't think of anything that would be different once you own your property. The only differences I can think of are when you are making the purchase if you go through Disney,

1. You don't have to pay closing costs.
2. You can book your points almost immediately.
3. You can get discounts off of Disney prices through various incentives.
4. You can get exactly the number of points you want (as long as it is over 150).

Ignoring other intangibles (such as location, and pool facilities, et'c.)--it looks like the new property (SSR) is the best price per point. If you take advantage of the $10.00 per point discount, the price per point is $79 per point over 50 years--the end of the contract date. This would make each point cost $1.58 per year ( $79.00 per point / 50 years). If they are still offering Magical Beginnings at BCV (which I believe is be sold out) would make each point cost $1.90 per year ($74.00 per point / 39 years).
In order to match the price that SSR is currently being offered, you would have to be able to be able to buy your DVC resale at $61.62 per point (this would have to include all your closing costs for comparision). I have read that Disney has been exercising their Right of First Refusal on points being sold less than $70 per point....

And of course, in addition to the initial point costs, there are yearly maintanence fees to consider... (But, these costs are the same whether you buy from Disney or a resale. But, they are different for each DVC property)

Good luck on your decision!

-DC

 

[ArRzrbk]

I called one of the resale companies to understand the differences between DVC and them, and an important difference for us that no one has yet mentioned was...financing.

The resale store I spoke to (believe it was the Timeshare Store or DVC by Resale) said they only financed for five years (Disney can do ten) and their percentage rates were 1% higher than Disney.

Taking the financing factor out, resale would have actually been a better deal for us, because by the time all would have been said and done, the cost would have been the same, but we would have still had 2003 points available (depends on the resale you are looking at...the one I checked on had plenty of points available).

You see, if you do Magical Beginnings, you get $10.00 for every point you sell back to DVC. Well, resale is running about $10.00 less per point than DVC. So, that evens out. The resale package came out ahead, because we would have still had 2003 points to enjoy. With DVC, we're selling those points back for the discount. Yep, we can borrow from 2004, but I am just trying to help you understand how resale might be better for you.

Just something to think about. And if ya got money to burn and ten year vs five year financing and the 1% higher rate doesn't hurt your financial situation, I would go resale. We couldn't take that chance. So, we are going through Disney.


ArRzrbk a.k.a. Char

 

[dcfromva]

Originally posted by ArRzrbk
I called one of the resale companies to understand the differences between DVC and them, and an important difference for us that no one has yet mentioned was...financing.

The resale store I spoke to (believe it was the Timeshare Store or DVC by Resale) said they only financed for five years (Disney can do ten) and their percentage rates were 1% higher than Disney.

Taking the financing factor out, resale would have actually been a better deal for us, because by the time all would have been said and done, the cost would have been the same, but we would have still had 2003 points available (depends on the resale you are looking at...the one I checked on had plenty of points available).

You see, if you do Magical Beginnings, you get $10.00 for every point you sell back to DVC. Well, resale is running about $10.00 less per point than DVC. So, that evens out. The resale package came out ahead, because we would have still had 2003 points to enjoy. With DVC, we're selling those points back for the discount. Yep, we can borrow from 2004, but I am just trying to help you understand how resale might be better for you.

Just something to think about. And if ya got money to burn and ten year vs five year financing and the 1% higher rate doesn't hurt your financial situation, I would go resale. We couldn't take that chance. So, we are going through Disney.
ArRzrbk a.k.a. Char

ArRzrbk,
I don't know if this would make any difference in your calculations, but if you were able to buy BCV through Disney and get a December UY--with MB, you would sell back your 2002 points and receive your all your 2003 points in December! (it's kind of wierd to think about still having 2002 points )
-DC

 

[JimC]

We bought a resale at OKW. Pat Spell from the Timeshare Store is who assisted us. Our treatment by her was first rate. We would use her services again, without hesitation. Pat was a CM who came out of DVC and knows the program very well. She walked us through the options and what the differences were between buying direct or resale, how to evaluate the various contracts and how timeshares work (at Disney and elsewhere). She was patient, professional and thorough.

The nice thing about resales is that it is just like any real estate market. Everything is negotiable.