Vero Beach resales

[SYDNCLAIRESMOM]

With the resale cost being so low per point -Tell my why you wouldn't buy a Vero Beach resale other than the dues cost being so high? Are there other tangible cons?

 

[bobbiwoz]

IF the resort was sold or destroyed by huricanes, the people who own wouldn't be part of the DVC family. This is a topic that comes up every so often.

I own at VB, 200 points, and I use those points primarily at VB. The CMs there are wonderful. It's a great resort for me and my family and friends. However, I wouldn't buy there if I wasn't going to stay there sometime.

Bobbi

 

[disneynutz]

Do the math and decide if you will be happy taking a chance at 7 months trying to book elsewhere.

You have to ask yourself, if it is such a good idea, why isn't VB sold out with a waiting list? If demand drives up the cost, why is VB priced so low, no demand?

Bill

 

[ssawka]

You need to add in the maintenance fees and see if it is such a great deal. VB has the highest MFs in the system.

 

[kristenrice]

As DVC continues to grow and add more resorts, the competition at 7 months will get tighter and tighter. The number of owners at each resort is finite, but the number of DVC members will grow until DVC stops building properties. If they continue to expand off-site, then the competition for WDW resorts will get even tighter for those who chose to purchase off-site. We bought a small add-on at HHI with the intention of using those points only at HHI. We have our AKV points for when we plan to stay at WDW, even if it is not at AKV. If you plan to primarily use your points at WDW, then you should buy at an on-site resort.

Another thing to remember is that DVC can limit your points usage to your home resort only. I believe this would be a limitation that they would have to put in place across the board (i.e. not just restricting resale buyers) but Dean would know more about that than I would. My point is simply to ask yourself if you would still enjoy your ownership if you could only use it at Vero Beach. If that restriction were put in place, you would probably have a very difficult time selling your contract if you were no longer happy with it and you would be saddled with the costly annual dues. You would have to find a buyer that wants to stay at Vero Beach and take on the maintenance fees at a cost that would pass ROFR. (I doubt anyone would bid $1 on eBay, knowing that it would get taken)

 

[Lynne M]

With the resale cost being so low per point -Tell my why you wouldn't buy a Vero Beach resale other than the dues cost being so high? Are there other tangible cons?

That would be quite enough of a con for me. The dues are going to make up the bulk of your ownership cost of DVC over the years. You'd save a bit of money up front, but pay considerably more over the long haul than you would for, say, SSR or OKW.

 

[lovin'fl]

This is the 2nd time I have read in a thread that if our DVC villa that we are deeded gets destroyed (or in this thread, it said, if you own VB and it gets wiped out in a hurricane) than we are out of DVC...done. Doesn't DVC have insurance to rebuild if such a thing occurs? Just wondering.

 

[chalee94]

Doesn't DVC have insurance to rebuild if such a thing occurs? Just wondering.

depends. if the damage is fully covered by insurance, probably.

if insurance doesn't fully cover the damage, they could go with a "special assessment" (extra maintenance fees) as was considered - but not ultimately needed - in the 2004 thread below:

http://www.disboards.com/showthread.php?p=7160446

Vero took a pretty good beating with the two hurricanes. There was a lot of beach and dune erosion. There was no catastrophic structural damage but there was wind and water damage. We haven't had an "accounting" by DVC but conjecture was that the ferocious winds forced water into the buildings causing damage to carpet, furniture, floors, etc. There was also some siding and shingle damage.

Once DVC determines the costs that will be covered by insurance and government programs, they are going to issue a special assessment to Vero owners to cover the costs...

but they could also decide to pay out the insurance proceeds to the owners and call it a day...

 

[crisi]

They aren't obligated to rebuild and they a permitted to pass along any costs that aren't covered by insurance to the owners. If they don't rebuild, owners would get a check. Some people believe that VB has been so disappointing to Disney that they wouldn't rebuild.

 

[lovin'fl]

Very interesting. My DH was drawn to VB for the cheap resale prices...but this info as well as the higher MF and the possibility that DVC could change up the rules where we could ONLY book at our home resort...those are 3 reasons that I am glad we didn't buy VB points. Plus we live in MD and HH is closer.

 

[ELMC]

The crossover point where VB becomes more expensive than SSR or OKW can be as soon as five years. So ask yourself this, would you want to save yourself some money now and pay more for 25 out of the next 30 years? I know I wouldn't.

The reason to own at VB is if you enjoy going there during the prime summer months, where you might need the 11 month booking window. Even then, I would rather pay a $3.50 premium per point to rent VB points from an owner than to own the contract myself.

 

[disney54us]

With the resale cost being so low per point -Tell my why you wouldn't buy a Vero Beach resale other than the dues cost being so high? Are there other tangible cons?

Having several add on contracts one being VB (a small one 70 pts). I would say that if you are buying for the low price in hopes of using it at WDW, aside from the high maintenance price p/point. It is harder to get a reservation for exactly when and where you want during a 7 month booking window. SSR, I have been reading has a lowering resale value, not surprised and yes I have two add ons there too. Over built, sold and the rest is history as they move on IMHO. Point is, that if you are looking for DVC to vacation in WDW, I would look for a resort there. As other posters have said it will be your maintenance fees that end up far out weighing your loan and you will always carry the cost throughout ownership..... the maintenance fees.