Vero Beach Dues?

[vbfamily]

Does anyone know what the dues/proposed dues are for VB next year?



Thanks in advance for the info.

 

[PamOKW]

The proposed dues are $4.3726. If you purchased prior to 1/1/96, you get a special subsidy that brings them to $3.4459.

 

[Chuck S]

Originally posted by PamOKW
The proposed dues are $4.3726. If you purchased prior to 1/1/96, you get a special subsidy that brings them to $3.4459.

Owning only at OKW myself, I didn't realize that there were 2 different dues rates for VB! Is this because of the combination of the resort being reduced in size (original plans not completed), along with the percentage cap on dues increases? In other words, the original DVD subsidy HAD to continue by law for the older owners to keep the dues under the mandated percentage increase, but it could be discontinued for more recent purchasers who never actually received any subsidy?

As beautiful and relaxing a resort as VB is, it really is a shame it didn't sell better.

 

[Richyams]

The subsidy is/was for the unbuilt units. They slashed the original plans for the resort due to poor sales a long time ago.

I thought the subsidy was over for everyone. How much longer does it last for original buyers?

 

[PamOKW]

I'm not sure how much longer this subsidy goes on....maybe it's lifetime. I assume it has to do with the way the original contracts were written. There had been a subsidy for purchasers prior to 1998. This ended with last year's dues.

 

[Richyams]

I know its not lifetime. It may differ for real early buyers....I really thought we had an announced date as to when that subsidy would end for all.

VB does have the highest dues, its location makes for high insurance rates, unfortunately, those rates are going to be split by fewer people than originally planned.

Is VB easy or difficult to get at seven months? I don't know the answer to that question. Owning at WDW and using the seven month window may be a good option, but if VB is truly the place one wants to spend most of their points at, the gigher dues are probably worth the ease of use of the eleven month window.

 

[vbfamily]

For when we want to travel, VB would be easy to get at 7mo. That is just MHO. Every time we go in Oct. there are hardly any people there. We have been the only ones in Shutter's for lunch and dinner more than once. We went to brunch in Oct. at Sonja's and were one of 2 families in the entire rest. My husband was able to eat all the stone crab claws he wanted because no one else was I thinks he's still smiling.

Anyway, I guess the dues are getting me down a little. I understand why they are high. I can only imagine the damage that would be done if they took a direct hit from a hurricane. The beach is eroding enough.

Do you think they will go up about 5% every year?

Can the whole business of dues ruin DVC for us? We are aware of the cap but does anyone ever buy in only to find in a few years that the dues are getting out of hand?

 

[PamOKW]

Insurance is not a major factor in the rise in Vero dues. Insurance costs actually went down versus last year. It seems like the loss of the subsidy is having the greatest effect. Costs are actually being reduced overall. The difference in per point costs for Insurance at Vero vs. OKW is pennies. The higher costs come from Administration & Front Desk, Maintenance and Member Activities. Of course, Vero also has no Transportation costs.

I'm slightly concerned about the overall increase in DVC dues and I hope that will be addressed at the member meetings. However, this is the first substantial increase in over 6 years and I hope it is a one-time adjustment.

 

[Lisa P.]

Can the whole business of dues ruin DVC for us? ...does anyone ever buy in only to find in a few years that the dues are getting out of hand?

I'm doubtful that it has happened much at DVC so far, simply because the dues haven't really gone up that rapidly. The whole program is only a decade old and most DVC members have only been with it for a couple years.

There are plenty of timeshares where dues have risen quickly and owners have had to sell... Marriott Heritage on HHI is one example that comes to mind. Their dues include a "free golf" package and the contract renewal was pretty steep. Several resorts in Hawaii have seen dramatic increases over the last few years... partly due to waterfront damage and the frequent need to refurbish. Unfortunately, if the annual maintenance goes up very high, it makes it harder to find an interested buyer as well.

Anything like this involves taking a bit of risk. People lose money on vacation real estate purchases, RVs, boats... all kinds of fun splurges. That's why it's wise to be certain that one can actually afford such a purchase and commitment. It's best not to stretch finances to the limit in order to do it. Otherwise, there's no room for the unexpected increase in maintenance expenses. JMHO.

So far, the increases on DVC annual dues have not been dramatic, when compared with inflation over the life of the program. HTH!