Vero Beach contract

[pamkat1820]

I’m toying with purchasing a vero beach contract to add additional to what we already own.

I know buy where u want to stay. But if my plans are to change resorts at 7 months out anyway and I’m ok with a split stay then what are the draw backs to purchasing the contract

-I have already taken the dues into consideration

-Knowing the 7 month gamble….

Anything else I need to consider..,

I’m just seeing more points cheaper price….

What factor am I missing!!

 

[_auroraborealis_]

It's a 2042 resort subject to hurricane assessments and high dues.

 

[pamkat1820]

It's a 2042 resort subject to hurricane assessments and high dues.

Hurricane assessments??

High dues not a deal breaker

2042 same deal with our other home resort….

I just can’t bite the bullet!

 

[_auroraborealis_]

Hurricane assessments??

High dues not a deal breaker

2042 same deal with our other home resort….

I just can’t bite the bullet!

If a hurricane hits, Vero can be subject to special assessment in dues that are excluded from limits on annual dues increase.

 

[pamkat1820]

If a hurricane hits, Vero can be subject to special assessment in dues that are excluded from limits on annual dues increase.

Thank you I did not have that information! Helpful!

 

[CarolynFH]

Thank you I did not have that information! Helpful!

It's a realistic possibility that has already occurred:
https://dvcnews.com/dvc-program/fin...urricane-assessments-for-three-dvc-properties
https://dvcnews.com/resorts/hilton-...ead-owners-hit-with-bill-for-hurricane-damage

 

[DVCanadian]

Hurricane assessments??

High dues not a deal breaker

2042 same deal with our other home resort….

I just can’t bite the bullet!

I’m assuming a resale purchase. How long would you plan to hold the VB contract?

If you want to use the points at WDW at 7 months, VB points are on the bench waiting to be used while another contract, say OKW or SSR, means you book something and then switch. VB means there is a chance of having nothing at 7 months and you pay more over the life of the contract for that approach.

SSR would have a residual value post 2042 while VB is at zero $ should you not need to visit for the next 40 years and choose to sell the contract.

 

[we"reofftoneverland]

I would not buy Vero unless you 1) will use the points at Vero 2) book for a popular time slot or need a 3 bedroom. Vero is usually available at the 7 month point. Vero is very expensive for dues and does have the hurricane issue. Also very expensive insurance.

 

[DVChris]

If you move forward, try to find one with subsidized dues. There's one listed on the sponsor's site and I've seen 3 others pop up in the last 6 months.

 

[bobbiwoz]

Did you buy at VB?

 

[pamkat1820]

We did put in a offer it was accepted we are waiting on ROFR.

We want the extra points to play around with. I will deal with the dues. (I say that now lol) ask me again in January when the bill hits

 

[eMoneyBug]

We did put in a offer it was accepted we are waiting on ROFR.

We want the extra points to play around with. I will deal with the dues. (I say that now lol) ask me again in January when the bill hits

Did you buy VB yet? resale prices are FREE FALLING. I may go for a VB as well.

 

[RoseGold]

I was going to come make a math argument. Then I saw $65, and I got nothing. Fidelity has multiple listings at 65. Wow.
The $12 dollar dues are a lot, ouch. And they're more than you could buy points for on the chart:
https://www.dvcresalemarket.com/blog/best-economical-dvc-resorts-to-purchase-spring-2022/

But it's hard for to justify a $30 jump to OKW at $95, when the dues are only $3 cheaper at OKW. There's even loaded contracts in the 70s, crazy. That alone is enough to flip the math on the chart. Buying loaded is better than buying the cheapest contract out there.

EDIT: 2023 dues came out at $13 for VB, OKW at $9.50. $13 is a lot... But you don't have to put a bunch of cash down now. I can see why this works for some.

But then you own an aging beach resort in direct hurricane path. OKW at least isn't that.

 

[eMoneyBug]

$55 is my bid and I'm gonna try to get a loaded to double loaded. I will carry the high dues burden! (maybe)

 

[eMoneyBug]

To add some context on my $55, say $3 per point remaining years + $13 2023 dues, that's $16 per point already, which is barely lower than the $19 OTUP 24points you can buy per membership! Like I can not go above $16 per point ownership when sometimes owners are renting out albeit fire sale points at $10 rare but I've seen it, $14, 16, 18 etc on a regular basis.

 

[RoseGold]

I think exit strategy matters here. I would NOT want to be selling Vero in 10 years, I'd much rather be selling OKW. But if you plan to run out the clock, and just want SAP anyway, then I totally get it.

There's something to be said for having $7,000 less tied up in this thing.

If you're running out the clock anyway, that $7,000 can go a long way on dues.

 

[Cfabar1]

Yes…. $55 is reasonable for VB and HHI…. Sorry, I’m sure I’ll take flack on that from other owners, but given the limited use, that is totally reasonable.

 

[eMoneyBug]

Yes…. $55 is reasonable for VB and HHI…. Sorry, I’m sure I’ll take flack on that from other owners, but given the limited use, that is totally reasonable.

HH I do value at about $10 higher than VB because dues are like $2 less so that has to count for something, so I will say $65. I'm going for it all, double loaded no reimb fee 2022. Owners have been telling me to buzz off, but I'll keep offering it, not like many are making offers for their contracts.

 

[RoseGold]

HH I do value at about $10 higher than VB because dues are like $2 less so that has to count for something, so I will say $65. I'm going for it all, double loaded no reimb fee 2022. Owners have been telling me to buzz off, but I'll keep offering it, not like many are making offers for their contracts.

You only need one! (or two?)

 

[Cfabar1]

One of the issues I have is the value I see in DVC is not in line with what Disney charges, or what owners perceive the value to be. Many owners view this as an investment, and want to hold it until they get the perfect price. I don't view this as an investment, merely as a way to pre-pay and pre-plan for vacations, and assume my initial investment will go DOWN each year (fewer use years available). It has created some challenging moments for my resale bids, but, you only need one or two people to want to sell to get it done.