Vero Beach Purchase

[WDW LifeLong Fan]

Hello all my DVC Experts,

We are laboring over a VB Resell.

Other than a few obvious reasons...

SSR has 12 more years.
Higher Dues per point.
Booking WDW DVC Properties at 7 month window

...why not purchase a resell at VB at a much lower cost per point?
Pros & Cons that I may be missing?
Thanks for your input.

 

[littlestar]

The high dues will eat up any savings on the initial purchase.

Why not buy OKW and have low dues and a guaranteed WDW resort with the 11 month booking window? Unless you want to stay at Vero most of the time.

Plus, you always have the potential for a hurricane to wipe Vero out (it sits right on the ocean). It got hit twice last year with CAT 3's I believe. I would be worried about a large assessment bill if the place had to be rebuilt if a "big one" hit.

 

[Y-ASK]

It got hit twice last year with CAT 3's I believe. I would be worried about a large assessment bill if the place had to be rebuilt if a "big one" hit.

Isn't that what insurance is for? You might not get to use the place for a year or two but insurance should cover most if not all of the damage (I would hope).

Y-ASK

 

[WDW LifeLong Fan]

The high dues will eat up any savings on the initial purchase.

Why not buy OKW and have low dues and a guaranteed WDW resort with the 11 month booking window? Unless you want to stay at Vero most of the time.

Plus, you always have the potential for a hurricane to wipe Vero out (it sits right on the ocean). It got hit twice last year with CAT 3's I believe. I would be worried about a large assessment bill if the place had to be rebuilt if a "big one" hit.

Great points. Thank you. I did think about the potential for a hurricane causing catastophic damage...but not about the potential HUGE assessment!

 

[Laurajean1014]

Isn't that what insurance is for? You might not get to use the place for a year or two but insurance should cover most if not all of the damage (I would hope).

Y-ASK

Would you want to chance it?

I think the deciding factor is: where will you spend the most time at? If VB, then purchase at VB, if not, then purchase at the location you frequent.

We bought at OKW and have 8 add-ons. Two are at BW because these are our two favorite resorts. We have no desire for BC, WL or SSR, so we do not buy them.

We love VB, but would not frequent there enough to make it worth it, for us.

DVC is a great program and I am sure you will be very pleased.

Good luck on your decision.

 

[Sox_Fan]

There are a couple incentives for SSR right now:

1) Disney will contribute $8 pp toward your downpayment, which reduces the cost to $90 pp. It also helps if you're financing and would like to apply a 20% downpayment to get a lower interest rate.

2) Right now you'll receive your first allotment of points (10/2005 for us) but your use-year will be earlier (April 1st in our case). What this means for us after our 200 point purchase is that we will be receiving 400 points between now and next April. Not a bad deal

 

[jaysue]

We have VB points to use at VB with the 11 month booking window - we tend to go to VB either at peak periods (March break for example) and/or book into the high demand Beach Cottages

If you want to stay at WDW and are not fussed about which resort you stay at or are unable to plan more than 7 months out, buy either an OKW contract to get what has historically being the lowest mtce fees or an SSR to get the 12 extra years

You can always use your WDW DVC points to book at VB at the 7 month window if you want to stay there

cheers
jaysue
BCV/SSR/VB owner

 

[nickglover]

buying at vero beach makes no sense whatsoever unless you need the 11 month window and stay at peak times - otherwise vb has dues that are too high and a low resell value, and buying anywhere else usually allows you to book at vb without a problem - this explains why vb has not sold out in 7 or so years and why they sold adjoining land instead of expanding the resort

 

[Daitcher]

buying at vero beach makes no sense whatsoever unless you need the 11 month window and stay at peak times - otherwise vb has dues that are too high and a low resell value, and buying anywhere else usually allows you to book at vb without a problem - this explains why vb has not sold out in 7 or so years and why they sold adjoining land instead of expanding the resort

Can't agree with this line of thinking. We will be doing an add on at Vb in the 500 point range soon. VB is one of the finest oceanfront resorts around. I could care less if it didn't sell quickly or that it never expanded. The CM's there are the best we've encountered. The only reason it took so long to sell out is that it doesn't get the traffic that WDW DVC gets. VB is a gem. Our beach time is as enjoyable for us as WDW. Besides we can book WDW DVC at 7 months if we want to. Booking WDW DVC at 7 months has always worked well for us. Resale value means nothing to us because we will NEVER sell our points. To the OP, if you love VB like we love VB, buy there and don't look back. This paranoia about special assessments and the resort blowing away have never panned out. How many fine oceanfront resorts can you think of that have blown away................. ? The place is built to withstand even the most ferocious storm. Case in point was last year when the resort only closed for a brief period after a direct hit with a category 3 storm.


DAVE

 

[jaysue]

Good points all

I think what is a fair statement is buy at VB if you intend to stay at least part of the time at VB and especially if you want to book harder to get rooms such as Beach Cottages

If you intend to swap into WDW on a regular basis then buy at OKW or SSR if you are booking 7 months or less, if more than 7 months then buy where you want to stay is the least risky approach

We have VB points and we have generally used them at VB

cheers
jaysue

 

[Par8hed]

Can't agree with this line of thinking. We will be doing an add on at Vb in the 500 point range soon. VB is one of the finest oceanfront resorts around. I could care less if it didn't sell quickly or that it never expanded. The CM's there are the best we've encountered. The only reason it took so long to sell out is that it doesn't get the traffic that WDW DVC gets. VB is a gem. Our beach time is as enjoyable for us as WDW. Besides we can book WDW DVC at 7 months if we want to. Booking WDW DVC at 7 months has always worked well for us. Resale value means nothing to us because we will NEVER sell our points. To the OP, if you love VB like we love VB, buy there and don't look back. This paranoia about special assessments and the resort blowing away have never panned out. How many fine oceanfront resorts can you think of that have blown away................. ? The place is built to withstand even the most ferocious storm. Case in point was last year when the resort only closed for a brief period after a direct hit with a category 3 storm.


DAVE

And I'll have to agree with Daitcher. I bought VB so I can get those beach cottages and because I find the resort top notch. My thinking as far as WDW goes (and this is not a bash in any way)is that there are sooooo many resorts available, all excellent, that I don't care that much where I stay. You'll find something at 7 months and I don't use the room for much more than sleeping. To this point I've always gotten everything I wanted at 7 months. But I only go to WDW every third year or so. If you're into the beach, as I am, VB is a great place.

 

[ccw]

Reading these posts makes me think I should re-visit Vero. Did not love it when I was there before so maybe the dreaded hurricane hits have made it better ! Happy to be OKW DVC member for the past five years.

 

[Dean]

The high dues will eat up any savings on the initial purchase.

Why not buy OKW and have low dues and a guaranteed WDW resort with the 11 month booking window? Unless you want to stay at Vero most of the time.

Plus, you always have the potential for a hurricane to wipe Vero out (it sits right on the ocean). It got hit twice last year with CAT 3's I believe. I would be worried about a large assessment bill if the place had to be rebuilt if a "big one" hit.

I don't thing a SA is a major risk. The way DVC is set up under FL law, they have to cover anything in the years that the dues aren't enough to do so. DVC elected to take this option under FL law and their reward is that they don't pay dues on the points they own. I do believe VB will continue to be higher and likely will increase at a rate at least equal in % to the WDW properties.

Overall, I don't think it's a wise choice to buy just to have points. It is a fine resort and if one will use the points there part of the time, it's certainly worth owning. But given that the only chance of WDW reservation is at 7 months out, the higher dues (which are likely to continue or even worsen) and the lower resale potential; I wouldn't buy there just for points. But anyone can do what they want on their dime of course. It's simply a question of risk, cost and return. There is a point where VB would make more sense. Personally, I think the differential in price to make it worthwhile EXCEEDS about $25 per point for larger purchases of say 200 or more. IMO, the best value for getting into DVC for WDW stays is OKW. If one wants off site for the savings only, HH is a much better choice.

 

[gppnj]

This paranoia about special assessments and the resort blowing away have never panned out. How many fine oceanfront resorts can you think of that have blown away................. ? The place is built to withstand even the most ferocious storm. Case in point was last year when the resort only closed for a brief period after a direct hit with a category 3 storm.

DAVE

I do hope that VB won't experience any further weather-related damage. However, I think you're off the mark in trivializing the threat. Many experts agree that weather patterns are changing and that hurricanes are becoming more numerous and more severe. As a result, what has happened in the past might not be an accurate gauge of what to expect in the future.

 

[jaysue]

So just to ask since we are on this topic

What protection is there to VB points owners if VB resort is shall we say "rendered out of comission" for an extended period time or perhaps even for good?

thanks
jaysue

 

[Dean]

So just to ask since we are on this topic

What protection is there to VB points owners if VB resort is shall we say "rendered out of comission" for an extended period time or perhaps even for good?

thanks
jaysue

The rules say you still pay dues and get no usage. I'm sure DVC would float the points if the time out of commission were manageable. But there would come a time when the members there would not be able to use either their resort or other DVC resorts. And this is what the Public Offering Statement says if the resort is not available. Even if only part of the resort were damaged, say the Inn and one of the buildings, the members would still likely lose usage and other DVC trade options.

 

[jaysue]

Thanks Dean for the insight

cheers
jaysue

 

[Daitcher]

I do hope that VB won't experience any further weather-related damage. However, I think you're off the mark in trivializing the threat. Many experts agree that weather patterns are changing and that hurricanes are becoming more numerous and more severe. As a result, what has happened in the past might not be an accurate gauge of what to expect in the future.

I am not trying to make light of the threat, just stating the facts. Resorts are not blown away. They are steel and concrete. It is homes, mobile homes, and other normal construction that gets hit the hardest. I don't care if a category 5 rolls through. The biggest problem is always the flooding. The Resort could and probably will be "out of commission" for some period of time eventually due to a storm. This is an inconvenience but oh well, I'll suffer with a Disney trip VB will always be there, and my 500 point purchase there soon shows just how confident I am in that. I am literally putting my money where my mouth is. Thanks for your thoughts.


DAVE

 

[mickeysgal]

Reading these posts makes me think I should re-visit Vero. Did not love it when I was there before so maybe the dreaded hurricane hits have made it better ! Happy to be OKW DVC member for the past five years.

We didn't care for Vero either at first. Its lovely but coming from action-packed WDW vacations, it was a bit too slow paced for us. However, over the years, it has grown on us and we now love it. We couldn't go this year and have really missed our annual visit.

 

[jaysue]

I am not trying to make light of the threat, just stating the facts. Resorts are not blown away. They are steel and concrete. It is homes, mobile homes, and other normal construction that gets hit the hardest. I don't care if a category 5 rolls through. The biggest problem is always the flooding. The Resort could and probably will be "out of commission" for some period of time eventually due to a storm. This is an inconvenience but oh well, I'll suffer with a Disney trip VB will always be there, and my 500 point purchase there soon shows just how confident I am in that. I am literally putting my money where my mouth is. Thanks for your thoughts.


DAVE

Dave, I am not as concerned about the resort building being intact as I am about enough beach erosion, soil stability loss etc impacting the resort given how close it is to the ocean. I own 180, so we are all in the same boat

cheers
jaysue