TOTAL newbie questions

[vellamint]

We have been considering buying a vacation condo in Fl. due to it being a buyers market right now but it seems so overwhelming and risky (HOA's) etc....that I am considering a DVC purchase instead.

We are a family of six with 4 teenagers and I have come to realize that a happy vacation is a vacation where we can all have our own personal space....I actually have 3 ASSP rooms for our upcoming trip which again leads me to DVC.

We usually travel the 3rd or 4th week of August due to not wanting to pull the kids out of school and the deals that are always available at that time but in the hopefully near future I really want to start going in the cooler months. We have never been to F&W, MNSSHP, MVMCP etc.

What "use year" would you recommend my buying in order to take advantage of the 11 month reservations or does that not matter.

I am NOT SURE that I care where we stay each year as long at some point in my life we would be able to trade into BC, BW or BLT....I have been lucky enough that a very dear friend (owner) and I go every year and have stayed at BC, OKW, BW, VWL and AKV. I actually enjoy staying at different resorts every time I go.

If I buy least expensive points resale (HH and Vb) has it happened that you may be shut out of WDW completely? I have no desire to go to HH or VB.

Is there anywhere that I can find how Disney does its financing, what the interest rate is etc. Depending on the size of the contract I buy we may buy it outright but I want to be able to weigh the pros and cons of each.

Are the maintenance fees or the interest (if we finance) tax deductible in any way?

We will be there in 3 weeks and I guess I can just set up an appt to see whats available when I get there right? My husband has never seen a DVC resort.

I am sure I have will more questions and appreciate any help.....thanks!

 

[CarolMN]

We have been considering buying a vacation condo in Fl. due to it being a buyers market right now but it seems so overwhelming and risky (HOA's) etc....that I am considering a DVC purchase instead.

We are a family of six with 4 teenagers and I have come to realize that a happy vacation is a vacation where we can all have our own personal space....I actually have 3 ASSP rooms for our upcoming trip which again leads me to DVC.

We usually travel the 3rd or 4th week of August due to not wanting to pull the kids out of school and the deals that are always available at that time but in the hopefully near future I really want to start going in the cooler months. We have never been to F&W, MNSSHP, MVMCP etc.

What "use year" would you recommend my buying in order to take advantage of the 11 month reservations or does that not matter.

The use year doesn't matter for making reservations. You can call for a home resort reservation 11 months prior to check in no matter what use year you have.

Use year is important because it determines your banking deadline. It's best to choose a use year that is a few months prior to your usual travel times.

June or August would be good use years for you. Both would cover summer & fall trips.

I am NOT SURE that I care where we stay each year as long at some point in my life we would be able to trade into BC, BW or BLT....I have been lucky enough that a very dear friend (owner) and I go every year and have stayed at BC, OKW, BW, VWL and AKV. I actually enjoy staying at different resorts every time I go.

August is one of the easier times of the year to book at 7 months. If you want to stay at one of the EPCOT resorts in the fall or in December, best to buy there and book at 11 months. Magic Kingdom view and standard view at BLT will require 11 month booking for most times of the year and so will concierge and value at the AKV. Other than that, those two should have some availability at 7 months. BCV, VWL & BWV are smaller than SSR, OKW, BLT & AKV, so those are harder (but not impossible) to get at 7 months. Some months are especially difficult.

Keep in mind that there will be more competition for the WDW resorts as the off site resorts expand.

Is there anywhere that I can find how Disney does its financing, what the interest rate is etc. Depending on the size of the contract I buy we may buy it outright but I want to be able to weigh the pros and cons of each.

Others will be of more help on this than I can be.

Are the maintenance fees or the interest (if we finance) tax deductible in any way?

Most deduct the portion of the dues that are attributable to the property taxes. Interest on the loan depends on how the loan is set up and your personal circumstances. Consult a qualified tax adviser for your situation.

We will be there in 3 weeks and I guess I can just set up an appt to see whats available when I get there right? My husband has never seen a DVC resort.

Yes, good idea. Easy to set up an appointment and the sales folks will answer all your questions (and some you didn't think you had, LOL).

I am sure I have will more questions and appreciate any help.....thanks!

Ask away.

Good luck with your decision.

 

[quirty30]

I can't answer all your questions, but I can answer a few.

Sounds like a use year of August would work well for you.

Disney's "preferred" financing rate is 10.75%, non preferred is 14.75%. They offer terms of 5 and 10 years. I really don't recommend the financing as the added cost of interest really offsets that savings that DVC offers in the first place. I believe there is one year financing at a much better rate if you put half down. Can't recall the rate right now.

I believe the only tax-deductible portion of maintenance fees is the percentage that is applied to property taxes. And I was told the interest is tax-deductible is as well.

I think you could "trade into" the resorts you mentioned so long as you are flexible on dates. For example, you might have a hard time with availability in the fall at BCV or BWV for F & W weekends; or at BLT for Halloween. For that reason, I would recommend buying one of the three. Obviously resale would work best for BCV and BWI.

As for your trip in 3 weeks, yes you can call and arrange a tour - they will come and pick you up from wherever you are staying. And I think they have "open houses" at some of the models at various times. For example, I know there was an open house at BWV on Friday evening when we visited last month, and I'm pretty sure they have them every night at the models at SSR.

Hope this helps a little and good luck with your decision!

 

[vellamint]

Thanks to both of you.

If I buy 160 points resale now at BCV or BWV (so I would have 320 every other year) and then I decide I want MORE points later on (so we could go more often lol) and I buy those points resale at the same resort.....what are the pros and cons of buying those extra points with a different/same use year.

Do not really want to buy 320 points right now.......and as the kids get older we will probably NOT all be going so it may not be necessary to buy 320 points anyway......just want to know all the options.

Thanks.

Oh....and if I buy it with my Disney Visa to get the reward points (I know not a good deal-I know but I may want to use a cash back card and then pay it right off) isnt there 0% financing or something for 6 months ... or no. Oh wait....did I read somewhere that you CANT but it on a card? I love to use my credit cards to MY advantage......

Do they have BC or BW villas available for resale directly with Disney? I thought "sold out" resorts could only be purchased through resales. I would LOVE to have my husband see those.

 

[vellamint]

Which resorts have the two queens beds in the 2 bedrooms units and when you reserve these rooms are they guaranteed or is it up to the room assignor when you check in that day?

 

[Sandisw]

Thanks to both of you.

If I buy 160 points resale now at BCV or BWV (so I would have 320 every other year) and then I decide I want MORE points later on (so we could go more often lol) and I buy those points resale at the same resort.....what are the pros and cons of buying those extra points with a different/same use year.

Do not really want to buy 320 points right now.......and as the kids get older we will probably NOT all be going so it may not be necessary to buy 320 points anyway......just want to know all the options.

Thanks.

Oh....and if I buy it with my Disney Visa to get the reward points (I know not a good deal-I know but I may want to use a cash back card and then pay it right off) isnt there 0% financing or something for 6 months ... or no. Oh wait....did I read somewhere that you CANT but it on a card? I love to use my credit cards to MY advantage......

Do they have BC or BW villas available for resale directly with Disney? I thought "sold out" resorts could only be purchased through resales. I would LOVE to have my husband see those.

When buying resale, you can buy any Uy you want--however, it makes it easier to manage if everything is under the same one. Two different UY's give you two different member #'s and you must transfer between contracts if you want to combine points for a single night. If they are the same UY, the function as one big contract at 11 months (same resort) and at 7 months (different resorts).

Buying direct through Disney does allow you to use your credit card (not through resale in most cases). They do offer 6 months, 0% interest on the first $2500--although I just added on at BLT in April and got it on the entire purchase of over $12,000.

You can add on directly through Disney at the "sold out" resorts. The cost is higher and you may have to wait until they get the points in the UY you want.

Good luck!

 

[quirty30]

Thanks to both of you.

If I buy 160 points resale now at BCV or BWV (so I would have 320 every other year) and then I decide I want MORE points later on (so we could go more often lol) and I buy those points resale at the same resort.....what are the pros and cons of buying those extra points with a different/same use year.

Do not really want to buy 320 points right now.......and as the kids get older we will probably NOT all be going so it may not be necessary to buy 320 points anyway......just want to know all the options.

Thanks.

Oh....and if I buy it with my Disney Visa to get the reward points (I know not a good deal-I know but I may want to use a cash back card and then pay it right off) isnt there 0% financing or something for 6 months ... or no. Oh wait....did I read somewhere that you CANT but it on a card? I love to use my credit cards to MY advantage......

Do they have BC or BW villas available for resale directly with Disney? I thought "sold out" resorts could only be purchased through resales. I would LOVE to have my husband see those.

Which resorts have the two queens beds in the 2 bedrooms units and when you reserve these rooms are they guaranteed or is it up to the room assignor when you check in that day?

I think it's better for most people to have all points at same resort with the same use year. I think it's just a little to complicated otherwise, but it can be done. It would confuse the heck out of me, though, with all the other rules you need to follow.

As for the Disney Visa, technically you can put up to $2500 of your down payment on it for 6 months free financing. Others have reported that they've put their full contact price on it and gotten the 6 month free financing for the entire balance. I just used the Disney Visa to pay the balance of one of my contracts in full before the financing started and I'll be sure to report back if it shows up on my bill under the promotional financing (it doesn't really matter to me, but I am curious too.)

Disney does sell the "older" DVC resorts, though it is generally at a much higher price than you could get for resales. For a small add-on, the perk of no closing costs might offset the higher price. I wouldn't recommend it otherwise.

As for the "dedicated" 2 br villas with 2 queens in the 2nd br, I think most of the resorts have them and you will know when you book (or can ask specifically for one at the time.) We are staying in a dedicated 2 br at BLT in Septemeber and it says just that in my reservation.

I think I covered most of your questions - hope so : )

 

[vellamint]

For a small add-on, the perk of no closing costs might offset the higher price. I wouldn't recommend it otherwise.

There are no closing costs directly through Disney for ALL contracts or just small add-ons?

And as for "loaded contract VS a stripped contract"....does "loaded" mean there are banked points and "stripped" mean they used up next years points?

Thanks.....

 

[quirty30]

There are no closing costs directly through Disney for ALL contracts or just small add-ons?

And as for "loaded contract VS a stripped contract"....does "loaded" mean there are banked points and "stripped" mean they used up next years points?

Thanks.....

No closing costs on any add-ons direct with DVC.

And yes, loaded would infer you get banked points; stripped meaning they've borrowed some or all of next years.

 

[chalee94]

Do they have BC or BW villas available for resale directly with Disney? I thought "sold out" resorts could only be purchased through resales. I would LOVE to have my husband see those.

if you visit the boardwalk, there is a model of a boardwalk villa available for walk-through...

 

[vellamint]

if you visit the boardwalk, there is a model of a boardwalk villa available for walk-through...

So you think the DVC sales representative will only be able to show us BLT and SS? I would like to see OKW, BC and BW also.....

 

[Deb & Bill]

The BWV have no dedicated two bedroom villas. They are all lockoffs. That means they can be rented as a studio and a one bedroom or a two bedroom with the door between then opened.

BCV has 25 dedicated two bedroom villas that have two queen beds in the second bedroom. All the rest of the dedicated two bedroom villas at BCV have a queen bed and a double sleeper sofa because they couldn't fit two queen beds in these rooms.

So if the dedicated two bedroom with two queen beds is going to be an issue, don't buy at BWV. You will need that 11 month headstart to get one of the 25 dedicated at BCV. They go very quickly.

You can buy both BWV and BCV directly from Disney, but there are no incentives to do so. You pay the price they are asking without a discount and you don't get any cruise, extra points, etc.

 

[vellamint]

The BWV have no dedicated two bedroom villas. They are all lockoffs. That means they can be rented as a studio and a one bedroom or a two bedroom with the door between then opened.

BCV has 25 dedicated two bedroom villas that have two queen beds in the second bedroom. All the rest of the dedicated two bedroom villas at BCV have a queen bed and a double sleeper sofa because they couldn't fit two queen beds in these rooms.

So if the dedicated two bedroom with two queen beds is going to be an issue, don't buy at BWV. You will need that 11 month headstart to get one of the 25 dedicated at BCV. They go very quickly.

You can buy both BWV and BCV directly from Disney, but there are no incentives to do so. You pay the price they are asking without a discount and you don't get any cruise, extra points, etc.

Thank you.......BWV are out (no in-house restaurant either). Didnt like AKV or VWL although I did love the resorts themselves.

I am down to either:

BCV for the location, pool, dedicated 2 queen 2 bedrooms
OKW for the spaaacccccceeee...and the grand villas....and low point cost.
BLT because I have always wanted to stay at monorail resorts....pricey though!

 

[5forDiz]

If I buy 160 points resale now at BCV or BWV (so I would have 320 every other year) and then I decide I want MORE points later on (so we could go more often lol) and I buy those points resale at the same resort.....what are the pros and cons of buying those extra points with a different/same use year.




Same Use Year usually equates to being ~easier to manage~ (much imho)......in the future if you find resale contract with same Use Year & have it titled exactly same as your first contract then it is considered an add-on contract to your first (which will become 'master') contract. Buy a different Use Year or not titled same then it is a completely separate contract from your first contract & then you'd have to use your 1 time per year transfer privilege to put points from one contract into another ( and the points transferred into another contract would still keep their own UY & Home Resort, so if points are from different resort than 1st contract's then those transferred points would have to wait until 7 mos booking window opens to be used for ressie at your 1st contract's resort )

Do not really want to buy 320 points right now.......and as the kids get older we will probably NOT all be going so it may not be necessary to buy 320 points anyway......just want to know all the options.


Start off with a smaller contract then; DVC isn't going anywhere and you can add-on when & if you find you need. It's really worth taking the time to compare direct buy through Disney or purchasing via resale market where often savings can be significant.





Do they have BC or BW villas available for resale directly with Disney? I thought "sold out" resorts could only be purchased through resales. I would LOVE to have my husband see those.




ANY DVC resort is available to purchase directly from Disney; there may be somewhat of a wait involved for points to be accummulated for one of the earlier DVC resorts but it is possible, although guide will try to steer you towards what is currently being marketed so you'll have to make it very clear that your interest is in purchasing an earlier resort.

Which resorts have the two queens beds in the 2 bedrooms units and when you reserve these rooms are they guaranteed or is it up to the room assignor when you check in that day?



OKW whether lock-off or dedicated 2 bedroom will ALWAYS have 2 queen size beds. Other resorts vary as indicated in Deb's post.

There are no closing costs directly through Disney for ALL contracts or just small add-ons?


No closing costs if you purchase Add-On Contract(s) through Disney. For 1st time initial contract purchase through Disney there are closing costs depending upon resort - some earlier resort(s) may not have closing costs

So you think the DVC sales representative will only be able to show us BLT and SS? I would like to see OKW, BC and BW also..You can stop at the front desk at any DVC resort and ask to see villas; they are usually very happy to allow you to do so. It is worth taking the time to visit (& stay if possible) DVC resort(s) before purchasing because they each have their own very unique personalities. Sometimes seeing them in person sways the like-dislike thing significantly....

BWV are out (no in-house restaurant either).

>>>BWI / BWV "in-house" restauarants :

Flying Fish Cafe, Spoodles, ESPN Club, Big River Grille & light-fare at Boardwalk Bakery, BelleVue Lounge has morning continental type offerings & there is kiosk on boards for sandwiches too.

Best wishes on your planning & hope to welcome you home soon

 

[vellamint]

Thanks all for the patience in answering my questions......the search feature here is great but extremely time consuming.

Another question I have is about use years.....I have been reading these boards all afternoon and still cant figure this out.

I see us taking maybe one or to more trips towards the end of August....then I hope to start being able to go in the cooler months of Sept., Oct, Nov and December.......

What would be an ideal use year for us?

 

[quirty30]

Thanks all for the patience in answering my questions......the search feature here is great but extremely time consuming.

Another question I have is about use years.....I have been reading these boards all afternoon and still cant figure this out.

I see us taking maybe one or to more trips towards the end of August....then I hope to start being able to go in the cooler months of Sept., Oct, Nov and December.......

What would be an ideal use year for us?

August - at the beginning of August of every year, that is when you get your points, leaving them available to book for your anticipated August and fall stays. June would probably work well for you too.

I knew we would stay most often for Spring Break and summer months, so we went with a Feb. UY.

 

[Deb & Bill]

We have a Sept UY and we mostly go in May/June. So if we have to cancel, we have to rebook before the end of August. Unless we can still bank those points. In the past we did Nov, Dec, Jan and April as well. The last few years have only been May/June.

If you decide to go resale (to save money), you'll need to find a contract for the right location, the right number of points and the current status of the contract (any banked? any borrowed and must be used? stripped contract meaning nothing left for a year or two?) and then try to find the best UY. UY may be your last consideration. So try to get one that will leave you with enough time to bank or rebook based on when you want to go.

 

[funhouse8]

Thank you.......BWV are out (no in-house restaurant either). Didnt like AKV or VWL although I did love the resorts themselves.

I am down to either:

BCV for the location, pool, dedicated 2 queen 2 bedrooms
OKW for the spaaacccccceeee...and the grand villas....and low point cost.
BLT because I have always wanted to stay at monorail resorts....pricey though!

Well Diane, I see you drank the kool-aid. LOL If you want BCV I would suggust you buy there. OKW is easier to trade into because it is a larger resort. Good Luck and if I don't see you have a magical trip. - Eat a Dole whip for me.

 

[vellamint]

Well Diane, I see you drank the kool-aid. LOL If you want BCV I would suggust you buy there. OKW is easier to trade into because it is a larger resort. Good Luck and if I don't see you have a magical trip. - Eat a Dole whip for me.

Caught me Gina!!! lol

What does everyone think of purchasing vero beach (very cheap resale!) and just taking whatever I can get at the 7 month mark? Are two bedroom units really difficult to get ANYWHERE if you wait untill the 7 month mark (End of August, oct, nov, dec)?

 

[Deb & Bill]

VB has the highest dues of all. If you don't plan to stay at VB (but I heard the beach cottages are wonderful), why not try buying at SSR or OKW? Those are great resorts. You still can make a reservation at 11 months out for WDW, plus they both have Grand Villas.