Total cost to join DVC 150 points

[zappmann]

Hi,

Sorry for the newbie question, but I've heard so many different stories about buying in to DVC. I want to have my home resort on disney world property and prefer to deal directly with Disney, at least until I find out more. My question is, what is the total cost to buy 150 points? Someone told me there was a $10,000 sign up fee through Disney and then $89 per point and about $500 a year for maintenance.

Thanks in advance and I apologize if this is a goofy question.

 

[InstImpres]

Originally posted by zappmann
. My question is, what is the total cost to buy 150 points? Someone told me there was a $10,000 sign up fee through Disney and then $89 per point and about $500 a year for maintenance.

Sounds like some definite confusion. There is no "sign-up fee" per say, just a per point cost. 150 points currently cost $12,600. The is an opportunity at some resorts to "sell back ak.a. magical beginnings" your first year's points for a credit of $1500. Maintence fees vary per resort but are approx. $575 per year for 150 points. Hope that helps.

Sandy

 

[Cruelladeville]

Good summary, Sandy I got the same answer, but you beat me to the punch! $12,600 + $575 (more or less) - $1500 = uh, way less than you thought, zappmann!! Oh, yes, the $1500 can go toward the down payment, which is 10% of the total cost. Hey, Sandy and I saved you money, now you can afford to buy 300 points!

 

[InstImpres]

Originally posted by Cruelladeville
Hey, Sandy and I saved you money, now you can afford to buy 300 points!

Maybe instead he'll treat us each to a small add-on

Oh, yes, the $1500 can go toward the down payment, which is 10% of the total cost. [/QUOTE]

I was told they did away with this a little over a year ago. I need to give the full 10% for my add-on and than they take off MB. Well, at least I get an add on.

Sandy

 

[Cruelladeville]

The 10% is now gone for the down payment?!! Hmmm, and they call that progress Yes, I did consider mentioning that we take our tip money in points, but I thought it might be considered crass to beg--although I was checking the calendar to see when I could get away....

 

[zappmann]

Thanks everyone!!!

 

[reneesam]

Zappman-

I would suggest you go to the official Disney website and go to the DVC section. You can request a video and detailed information regarding purchase. You will also be assigned a sales guide who can answer your questions. Good luck!

 

[westjones]

The maintainence fees can be paid in monthly installments (which is what we do), so you don't have to pay the approx. $575 all at once each year. Our monthly fees at BCV is a little less than $45 a month for our 150 points.

I know it is tempting to buy more points, and of course I would LOVE to have more points. But we are having a lot of fun with our 150 points per year. We don't mind studios, and you can get a lot of nights at WDW in studios with 150 points.

DJ

 

[cheyita]

I'm in the process of closing, and my paperwork says that my MB credit of $2000 is part of my downpayment. I'm not financing, so that's not an issue for meeting that criteria, but it is actually designated as a "downpayment", so I guess it's applicable for those who are financing! (Did that make sense?)

 

[jel0511]

DVC used to accept the MB $10 per credit as your downpayment if you were financing and they recently changed the rules. You now must put a minimum of 10% down in cash, then your MB $$$ comes off the balance which needs to be financed. So, in the 150 point example, you'd need to give DVC $1,260 in cash, and they you'd get an additional $1,500 off the amount owed, and finance $9,840. Also, if you finance, I believe you have to pay your dues monthly and not yearly.

 

[cheyita]

Mea culpa

Like I said, I wasn't sure didn't it didn't apply to my scenario. Thanks for clearing it up!

 

[crisi]

zappmann,

You may want to check out resales as well. Resales are a little harder to figure value, but I'll give it a shot.

I addition to the price per point, you will pay closing costs on a resale. It depends on the size of the contract, but figure about $400 bucks.

You'll also pay pro-rated maintenance on those points.

Both these things are negotiable, as is the overall price per point. But Disney has Right of First Refusal - they will buy the contract from under you if the price is too low.

If you look at resales, you want to look at how many points are banked and borrowed. Buying a contract with no points for this year is a lot like buying with Magical Beginnings, you get a stripped contract, but can borrow from next year. You should pay less for this contract. Buying a point with banked points, plus this years points, can be a great deal - expect to pay more for this contract. Don't bother with a contract that is stripped from this year and borrowed from the next, it will be a full year before you can use any points - and then you'll need to borrow - to make this a good deal, you'd have to get a really good deal on the price per point - and Disney probably won't let it go through. Most people here figure the value of banked/borrowed points at about $10 per - which is about what they go for if you post them over to the rental board.

www.dvc-resales.com or www.atimeshare.com for a start.

 

[zappmann]

Cool that is great information, I'm really glad I found this board! All of you are great!!!

 

[HookdonWDW]

You can pay your annual dues yearly even if you finance your purchase. You receive separate bills for your points payment and your annual dues.