VB Resale - Am I out of my mind?

[Mom B]

I was "sold" on DVC, I think, on our first trip to WDW in 1992; even though I didn't know much of the details at the time, I knew I wanted "in." We've been down about 4 times since, always on property (plus one trip to Vero) and stayed on rented points twice. Our favorite on property resort is OKW.

We'll probably be increasing the frequency to about once a year now, traveling on our own around our anniversary in January (last DD is a senior this year) but occasionally with the rest of the family (grandkids, etc).

I am just dying to join DVC, and even though we could swing it, I'm still hesitant (just short of petrified) to put out that much cash (after all, we can only spend it once). Would I be absolutely out of my mind to go for a small (teeny tiny, like 50 points) resale to try it out? And then add on points as we are able?

Would it be totally nuts to go for a small contract at Vero Beach to start? I wouldn't really care about the 11 month window, as we don't usually need or even want to make reservations too far ahead, could probably even live with going to VB if we couldn't get on property at WDW. For me, the cheaper points are worth the higher maintenance fees at this point. What do you all think? And is it easier or harder to pass ROFR with Vero?

Thanks so much!

 

[riopooh]

I was lucky enough to get a resale of 50pts at VWL. It was an impulse buy but didn't break our budget. (dented but not broken!) Coming from NY, we've been going every two or three years anyway - I figure with banking and borrowing and sometimes even splitting stays between Disney and Universal- 50pts is tight but doable. This is all theory since I just bought this past winter and our first trip is Feb 2005. Half the fun is in the planning and dreaming!

LOL - of course, my sister heard about what I had done (I bought the points without consulting my DH) and it has snow balled into a family reunion to celebrate my Mom's fight against cancer - We're using our 04 points, borrowed 05 pts, transferred points and points rented from 3 fellow DIS'ers - (I'm praying this all works out!!- the cancer and the rentals) - But that is something else I won't have done if I hadn't bought my little DVC!

Good luck with your decision!

 

[Pa@okw95]

Don't buy at VB if you plan on going to WDW. Buy where you want to stay-you should be able to get a contract at OKW for example.

 

[kaf7878]

I would say go for it! I know people say don't buy at Vero if you want to stay at WDW but we own at Vero and I have NEVER not been able to get something on Disney property (and we've been during high season!). You may not get the exact resort but believe me, something will be open at the 7 month window.

 

[Par8hed]

I have to agree with kaf7878 in that there are soooooo many DVC rooms at WDW ( and growing). Unless you are bent on staying at a paticular resort for X-Mas / Easter etc., you will definately find a room SOMEWHERE at 7 months. And if your preference is OKW as you stated you are in very good shape. I bought Vero to go to Vero, cruise, make exchanges, and to go to WDW maybe once every ten years. I don't particularly care where I stay at WDW as I'll really only be using the resort for sleeping and an occasional swim. All the DVC properties are very nice and on site. I doubt you would be disappointed in any of them.

 

[jmminarik]

Originally posted by Mom B


For me, the cheaper points are worth the higher maintenance fees at this point. What do you all think? And is it easier or harder to pass ROFR with Vero?

Thanks so much!

My guess is that DVD doesn't want to buy VB points unless they know they have an immediate sale through their waitlist or the price is really low. So, odds are decent you'd pass RoFR.

As to buying at VB, while we've never had an issue with our VB points being used on property (we prefer OKW), you never know what the future will hold.

You already know VB will cost you more in the long run, usually the biggest knock against getting VB points.

Good Luck,
-Joe

 

[bobbiwoz]

Since your favorite on site property is OKW, I guess you'll usually will be able to get a room there. However, I still would suggest that you look for a smaller contract there, just to be sure, and to enjoy the lower maintenance fee.

Bobbi

 

[BillPA]

Just a thought, look forward 10-12 years and compare OKW to VB. You save $6-$8 a point now when you buy, but at a little over a dollar a year more in dues, in 10 years, you end up paying more than you save. Then look at the extra cost in 20-25 years. And as others have said VB dues are likely to increase at a higher rate than WDW resorts. Beach resorts have higher costs, and heaven forbid a storm like Charley comes along the east coast...

Just another way to look at the cost. I'm one of those that says "buy where you want to stay" that's why I have 3 home resorts, and looking at a 4th.

Good luck with which ever you decide.

 

[CarolMN]

Some things to think about re buying small contracts:

*You will incur closing costs on each resale contract that you purchase. These can add to your cost. If you really think you will be adding more points relatively quickly, you might be better served to buy a larger contract now and rent out some of the points to help cover the cost.

*Posts here make it seem easy to bank and borrow to take longer vacations every other or every third year. If you buy one small contract, you will likely lose points doing that on a fairly regular basis. It is difficult to take a trip that costs exactly 2 or 3 times your annual allotment. You can only bank one year's worth of points and only borrow one year's worth of points. Pretend you have a 50 point contract right now and plan your next 3 or 4 vacations. You'll see what I mean. (Small contracts work a little better for those who already own a contract and just want the 11 month booking window for another resort. At the 7 month window they can combine points). You could probably rent a few points every so often to add to your contract to avoid this situation (losing points). Just factor that "hassle" into the equation.

Best wishes -

 

[cruise-o-matic]

(Small contracts work a little better for those who already own a contract and just want the 11 month booking window for another resort. At the 7 month window they can combine points)

How does that work? Do you reserve the "hard to get" nights with your home points at 11 month out and then fill in with the "easier to get" nights at 7?

 

[tamu91]

Mom B..

If that's what you feel comfortable doing, go for it. But I'd look for a smaller contract at WDW first though.
DVC is a big financial committment for us all and we all have our different needs and if you feel like 50 pts. is going to give you what you need for now, why not. Closing cost on a smaller contract makes it unattractive to us financial geeks but what are we talking about,~$300

 

[pumpkinboy]

I would think a small VB contract might be a good way to "test the waters" as it were. First of all, you like staying at VB, so you can always use them there. Secondly, you will likely be able to find something in WDW since you are apparently fairly flexible. And I expect it will warm you up for that eventual 300 point OKW purchase that I'm sure you will want in the end.

 

[Tennesotans]

You ARE out of your mind... but we like that around here

A downside to VB -- if you decide that you don't like DVC (its mathematically possible), the resale market is FULL of VB contracts. They seem to stay on the market a while. Probably irrelevant.

 

[DrTomorrow]

Hey, Mom B!

To be honest, it sounds like you're just afraid to commit. You've been to WDW and DVC enough to know what it's like, and it sounds like your vacation plans make you a good candidate for DVC. If you really want to do it, go ahead; check out some of the threads where people have lost family members and are either glad that they did DVC with them when they still had the time, or now regret missing an opportunity that will never come again.

However, if you really need to take a baby step, at least buy a small OKW contract. You want to stay at WDW, so at least buy there. If you do like it, you can add more WDW points; if you don't, it's easier to resell.

Best of Luck!

 

[SoCalKDG]

I say go for the 50-100 contract and use thebank and borrow method, but go with OKW. If you end up with a spare 10 points using banking borrowing, then just rent them or transfer them.

Remember that the difference for 50 points between VB and OKW might only be $250-$400. You will make that up in MF's in 5 years.

If you hate it, you can always sell it back in a few years.

 

[Dean]

IMO, the risk of buying VB isn't worth it for this plan. Actually I don't think anyone should buy in if they can't plan at least 7 months out. Otherwise just rent when you want to go.