To join or not to join?

[Mr. X]

I know this question is asked a lot..... We just returned from a trip to WDW w/ my DW, DD (18months) and DNiece (4 years old). We had a great time, and decided at the end of our trip to go to a DVC open house at the Boarkwalk after dinner one night. I got a real fancy book, with point allocations for all the DVC resorts, a DVD, and some other information. We all had a great time, I've been to WDW 7 times now, my DW has been twice, and it was our niece's and daughter's 1st trip. We both love WDW so much (We are both young adults in our late 20's). But where do you draw the line to tell if the DVC is worth it or not. Right now the minimum # of points to join is 150, it comes to a total of $15,100, then our dues would be $600 or so a year, we would be owning Saratoga Springs.

Here's my view it seems DVC would work if i visited every other year which is very feasible since my daughter and niece are so young, and we'll be having another child. 150 points is definitely not enought get a decent room every year, you would make out better if you banked your points. It also doesn't seem that you get enough points to visit other Disney resorts outside of WDW, including the Cruise Line. Are there better alternatives? Getting a timeshare outside of WDW isn't an option, I'd really like to be on property.

What do you think?????

 

[1000th happy haunt]

You can always look into resales (click on the link at the top of the page). Usually the cost is lower than you would have to pay to Disney. There are advantages and disadvantages to resale. DH and I bought our first contract through resale, and then did an add-on direct with Disney. Disadvantages are you must wait for Disney to decide whether they want to buy the contract out from under you (called ROFR or Right of First Refusal), the buyer normally pays closing costs, and it takes longer. Buying direct from Disney is quicker, you don't pay closing costs, but normally the cost per point is higher, and your minumum initial purchase is 150 points.

It's not always the best use of points to use them outside the DVC resorts. A studio at Old Key West in early December would cost you 8 points for each week night, but a room at a WDW moderate resort for those same nights would cost 16 points a night, and a pool view room at Animal Kingdom Lodge costs 29 points each week night for the same time period.

If you really want to stay at other WDW resorts, maybe start with 150 points and visit DVC every other year, and stay someplace else every other year.

 

[Disney Doll]

DH & I purchased our first contract in 1997. He is a kook when it comes to stuff like this, and looked at the DVC every which way from Sunday. What he determined was that if you went to WDW every other year, DVC would make sense.

If you like DVC, and can afford it, and are planning to be able to go every other year, it would probably make good sense.

Get all the info, take a look at it. Buying resale is an option, but remember, with resales, you have to have an alternate form of paying for it, because I don't think you can get financing for a timeshare. If you buy from Disney, they offer financing.

It has been one of the best purchases we have ever made.

 

[crisi]

I will let you know what we did.

We bought 150 points (four years ago) at the Boardwalk for our family of four. We evaluated the situation and decided that Disney every other year was the right choice for us. In the alternate years we do something else - this year we are cruising on DCL - but paying cash. While we all enjoy Disney, there is a whole world of vacations we'd like to take the kids on. The 150 points gives us enough for a two bedroom every other year in October, when our kids have a school break. While they are still young enough to sleep together on the hideabed, we either invite guests to use the other bedroom, or rent a one bedroom and stash points.

Looking at it, we decided since points weren't a great deal for the other resorts (which we want to try or revisit) and points were double on Friday and Saturday nights, our best bet for wanting to stay in those places was to fly in on Saturday and stay in one of the other resorts using cash. Disney makes it so easy to switch resorts, and we can pack a single overnighter for that one night.

 

[rinkwide]

...we would be owning Saratoga Springs.

Not if you don't want to - Buy Where You Want To Stay .

 

[abner1776]

I'm not so sure that I agree with you on the "150 points is not enough." If properly managed, one can get a full weeks vacation at a DVC with no more than 150 points, and you will also see people staying for 7 nights but only 5 or 6 nights with their points and then 1-2 nights paying cash( it can be cheaper).
If you want to stay at BCV every year over April school vacation week, then yes, 150 points may not be enough, but that becomes an individual decision. At the same time, price out a week at the BC or YC over April vacation week and see how much you would be spending for a room and then add it up over 10-30 years...you will be surprised.
I also think that those people(like me) who own 150 points are not planning on visiting WDW every year...maybe more like every other year or maybe 3 out of every 5 years. Thats where banking and borrowing come into play, which is what makes DVC "my cup of tea"...it's called..flexibility...

 

[Slakk]

Here's my view it seems DVC would work if i visited every other year which is very feasible since my daughter and niece are so young, and we'll be having another child. 150 points is definitely not enought get a decent room every year, you would make out better if you banked your points. It also doesn't seem that you get enough points to visit other Disney resorts outside of WDW, including the Cruise Line. Are there better alternatives? Getting a timeshare outside of WDW isn't an option, I'd really like to be on property.

What do you think?????

We have 160 points and after two years have decided to add on BUT those 160 points gave us 5 nights in a 2BR which to me is pretty decent

Now we are adding on but DVC points truly are only a good deal at DVC hotels. I know some people use them for cruises and other things but you are better off renting out your points and paying cash if you want to stay at other hotels or cruise.

 

[byoung]

I got 200 points, Was able to book 19 nights this year in a studio with points left. (OKW-OKW-VWL-BWV-BWV) Not bad for a timeshare to me.

 

[dvc-NE]

Mr. X, you are asking a really good question, one that I wished I knew to ask when I bought in. This is the best place to get advice, but opinions will vary because tastes vary. That being said, I would stongly consider starting out with 100 points. This will get you a full week in a studio at least. At the top of the page you can click on "dvc point charts" to see what points are rerquired during different times of the year based on what type accomodation you are trying for, or use your book. Then you can click on "dvc resales" to see what our board sponsor has available. One thing to remember is that it is pretty easy to add on. If you start low, and you like DVC and wish to have a higher number of points, that's always an option. Another positive is that there are escape hatches. If you decide DVC is not for you (and you probably won't) you can sell your contract. Smaller size contracts are easier to sell as well, another reason to start low. Some contracts are IMO more or less likely to be bought back by Disney. With age on your side, the extra 12 years at SSR may be a good place to start. I don't think it would be difficult right now to buy a small contract now because Disney doesn't usually want to exercise ROFR on something they are currently selling. By going the resale route, you CAN JOIN for less than 150 points!

 

[Boas]

just did a resale contract for 100pnts from Timeshare Store.

if we like it and need more, we will buy more in future (from DVC or TSS).
if we change or minds, we will sell through TSS.

Good luck.

 

[Mr. X]

Is it at all possible to lose $$$$ when you want to opt out of your contract and put it up for resale?????? I'd be surprised if you didn't.....

 

[Mr. X]

Also, how does the financing work? I saw an interrest rate of 9% on the papers I got at the open house. Can you get financing if you do resale, and is the interest rate higher?

Also, I keep seeing posts here and on the net that it's very hard to book rooms using DVC, it' so popular. I'm a big planner and plans some things a year in advance so I don't think it would be an isues for me, but I'm not sure.

And how often do your maintenance fee increase? And typically how much?

How often are per night point allocations increased/decreased?

Thanks!!!!!!!

 

[Hillbilly]

X,
I bought a resale 2 years ago at BCV. I took out a 2nd mortgage loan on my house. I was able to get a much cheaper rate then DVC, and I also could use the interest on taxes. You can also use a portion of your maintenance fees as a deduction on your income tax since a percentage is used for property taxes. I wouldn't get too excited about the ROFR or time it takes to go the resale route, because you would get your down payment back if disney exercise their ROFR. I had such a good experience before going through resale that I'm doing it again this year, but at OKW. I'm planning on using the same method as before. Just wanted to give you another thought into financing.

As for the maintenance fees, they increse at different rates depending on the resort. I believe VB was one of the highest ones and SSR was one of the lower ones. I know I've seen a post here before.....OK here is what I found.

Year OKW BWV VB VB(sub) HH VWL BCV SSR

2006 4.24 4.69 5.27 4.12 4.34 4.61 4.48 3.98
2005 3.86 4.41 4.87 3.84 3.86 4.35 4.27 3.83
2004 3.68 4.25 4.67 3.67 3.70 4.22 4.18 3.80
2003 3.49 4.11 4.37 4.37 3.69 4.05 3.97
2002 3.22 3.92 4.17 3.33 3.49 3.80 3.77
2001 3.13 3.83 3.98 2.70 3.32 3.63
2000 3.16 3.94 4.07 2.87 3.25 3.62
1999 3.16 4.02 3.99 2.82 3.18
1998 3.17 3.94 ---- 2.76 3.20
1997 3.14 3.84 ---- 2.90 3.16
1996 2.99 3.70 ---- 2.82 3.16
1995 2.84
1994 2.70
1993 2.63
1992 2.56
1991 2.51


and here is another post that verifies the info.

As they are reported

BCV $4.48 --- 4.92 % increase

BWV $4.69---- 6.35 % increase

HH $4.34 ---- 7.43 % increase

OKW $4.24 ---- 9.84 % increase

SSR $3.98 ---- 3.92 % increase

Vero $5.27 - 8.21 % increase + special assessment up to $.50 per point
Vero(sub) $4.12-- 7.29 % increase + special assessment up to $.50 per point

WLV $4.61 ---- 5.98 % increase

Point alllocations might increase but not like your dues. Usually it stays somewhat more stable.

 

[CPTJAK]

Vero(sub) $4.12-- 7.29 % increase + special assessment up to $.50 per point

what is Vero(sub) and what was the special assessment for?

 

[simpilotswife]

Is it at all possible to lose $$$$ when you want to opt out of your contract and put it up for resale?????? I'd be surprised if you didn't.....

If you sell right away, yes you would probably lose money. If you hold onto it for a couple of years, you should be able to at the very least breakeven.

 

[DISNEYDEVOTEE]

While we were vacationing in December 05 we ran in to freinds from high school. They were staying at the BW Inn at about 400 per day. We were in our 1 BR at the BWV. They came to our room and saw what we had, We just received our notice that they had purchased DVC.

The pay back now seems to be about 6 years, but the quality of accomodations is over and above what you will ever get in any of the non DVC properties. That is what DVC is all about, the place fells like a small apartment/condo inside of the happiest place on earth.

No matter where you stay in disney you will always have airfare, transportation costs etc...after year 5 (for us) it costs us only the yearly dues, 900+-, 2 days+- - for a comfortable week+ stay with 5-8 people.The key word is comfortable. 2 beds and a small table would drive me nuts after a day or two.

Buy it and enjoy!

bellmar bob