We Have Agreed To Buy, Recourses?

[arich35]

After talking with my wife for many months we agreed that we would buy into DVC. We aren't in a rush at all and want to make sure we find the right contract and we do the right research. I have been reading the boards, watching the shows but are there any other good resources we should read/watch beforehand?

 

[john7994]

I actually watched a lot of videos on this site related to the DVC Fan Webcasts. There are quite a few of them - some of the older ones that model the planning, questions to ask, and other things to know.

 

[sethschroeder]

What are you looking for?

Sounds like you already decided the biggest which is if DVC is right for you.

Now it comes down to:
Direct vs Resale
Which Resort
How many points (determined by budget, resort, room type, how often you go)

Then it's about Use Year after all the above is decided.

What exactly are you stuck on because honestly the best way to learn is simply taking it one step at a time IMO.

Then there is info on how to see going rates on resale, timelines on resale, title transfer, account access, how to book, how to pay dues, ect all of which really comes after deciding on those initial questions up top.

 

[arich35]

What are you looking for?

Sounds like you already decided the biggest which is if DVC is right for you.

Now it comes down to:
Direct vs Resale
Which Resort
How many points (determined by budget, resort, room type, how often you go)

Then it's about Use Year after all the above is decided.

What exactly are you stuck on because honestly the best way to learn is simply taking it one step at a time IMO.

Then there is info on how to see going rates on resale, timelines on resale, title transfer, account access, how to book, how to pay dues, ect all of which really comes after deciding on those initial questions up top.

Use year is a big one, and also how everything works with buying resale/type of contract we should be looking for that will pass ROFR but is till not an overpay.
We are still trying to decide on resort, we need to sit down and look at the pros and cons of the options and also the amount of points we would need to get at least a week in a studio.

There is just so much to know and take into consideration so just trying to see if there are goof videos or articles that have up to date info. I know DVC Fan has a lot of videos, but I feel like some of them from 2-3 years ago aren't going to be completely accurate after Covid and all the changes

 

[BamaGuy44]

Honestly one of the best, if not the best resource is this board. We loooooove telling people how they should spend their money

But seriously, lots of knowledgeable and patient people who love to talk DVC and answer questions. As soon as you feel like the videos, etc have given you the basics, ask some questions specific to the things you're wondering about, and you'll get some great info. Taking your time is smart, DVC isn't going anywhere. Agree with the other posters as far as the "right" research. IMO the most important things to understand are the pros and cons of direct vs resale, and pros and cons of different home resorts. There are lots of strong opinions on those but no answer is right for everyone.

Good luck in your research and purchase!

 

[CarolMN]

https://www.disboards.com/threads/the-dvc-resource-center-updated-december-2021.3655476/

Of you haven't already spent some time with this thread, I highly recommend that you do.

 

[Mexacajun]

After talking with my wife for many months we agreed that we would buy into DVC. We aren't in a rush at all and want to make sure we find the right contract and we do the right research. I have been reading the boards, watching the shows but are there any other good resources we should read/watch beforehand?

I actually listened to about 80-100 of the DVC podcasts in a couple of weeks trying to get more knowledgeable. I skipped a lot that didn’t apply to me at the time so that I could get the most info. These boards helped a ton, it’s just a lot to read through. Dvcfan website is great and dvcnews website has lots of interesting statistics.

 

[RoseGold]

You can learn a lot from this board on the recommendations in various circumstances. DVC is a complicated product with a lot of nuance, and we don't always agree. It really depends on how much time you want to put into the system stalking availability, where/when you want to stay, how much you want to spend, and how long you want to hold.

But right now, generally speaking, I would either be buying VGF direct (plan to hold) or resale CCV/BLT/SSR (keep options open) or resale AKL (bang for buck).

 

[MICKIMINI]

I totally agree with BamaGuy44 - have a question? Just ask LOL! We've been around for a long time and have likely seen it all so bring it on!

Good luck!

 

[sethschroeder]

We are still trying to decide on resort

Really until you do this there isn't much else.

You can choose to learn more just to do it (like many of us) but its not really relevant until later or maybe never for you.

Example how ROFR doesn't matter until you put in an offer and get accepted offer. Which won't happen until you know what contract to even look for.

The DVC videos are fine to start but really this board is the best resource.

 

[arich35]

I appreciate everyone being helpful and willing to answer questions! I feel like I have a pretty good feel for DVC, just want to do our due diligence. There seem to be a pretty good amount of resale sites, which ones are more reputable and easier to work with? And is there an easier way to search for the type of contract you are looking for?

We have stayed at Saratoga, Boardwalk, & Beach Club, staying in BLT this December. We liked all 3, they each have their pros and cons. I would say most of the time we would be flying in, only drive if we decide to do a 10-14 day trip.

I think right now we are looking for a smaller contract, probably between 75-125 (depending on the resort we go for). It is me, wife, and two kids (2 yrs in Sept and a 3 year old). Right now we really enjoy going in the earlier part of December or Late April/Early May but we realize in probably 3 years we will have to deal with school schedule (I am more okay with letting the kids miss 3-5 days of school when they are that young but my wife might not be).
So I am trying to decide what the best use year for us would be? I could see some years where we borrow points to upgrade to a 1 bedroom occasionally until we end up buying more points later down the line. With that low amount of points I know being in a studio is where we will have to be so I want to make sure we get a resort that will fit the four of us.

We would like to find a contract that has some banked points that way we have some more flexibility with renting some out or banking to get what we want for our first trip as owners. I am more than willing to stalk or whatever to get reservations at other resorts besides our home resort.

 

[Shellyred8]

When looking at how many points to get, make sure you are not looking at the "value" rooms to determine how many points to get. Those rooms go REALLY fast at the 11 month mark (because lots of people want the cheapest rooms! ), so the likelihood of you getting one of those rooms is slim.

We have two contracts: one with an April UY and one with an August UY. We also travel in early may and early december (with some other trips during other times of the year). I like being able to book our stays for early in the UY. So we use our April points for our May trips and our August points for our December trips. That way, if things change and we have to cancel/move the trip, we don't have to deal with missing our banking deadline for those points. As long as we can cancel the trip within 31 days of the trip start date, we still have full, unrestricted use of those points.

We own at BLT and BWV. I like having these two as we like to do split stays for most of our trips. We do MK while we are at BLT and then HS/EP while we are at BWV. We usually do AK on move day since we have to take a bus there regardless of where we are staying. One of my goals on our WDW trips is to avoid using Disney buses as much as possible, so this approach works well for us. It might not work as well for you with the two kiddos, but it's something to keep in mind for future reference. Disney will move your luggage to your new resort for you, so it makes the transition pretty decent.

Good luck with your buying process!

 

[Straulin]

Not typically.
I am not too familiar with the banking deadlines and scenarios it might effect us.

Thank you, I will look it up!

We loved the Boardwalk area but the short contract & higher price makes it a tough sell for us. I am curious if they update the rooms more, the 1 bedroom layout wasn't that big when we stayed last May, not too sure about the studios though.

When you book a reservation you can freely cancel it up to 31(or maybe 30) days in advance with no issues so long as you are not dealing with borrowed or banked points or beyond your banking deadline (for December it is July 31st.)

If you cancel within 30 days of your reservation, those points go into holding. Holding points can only be used to book trips within 60 days of the date you book. Holding points are lost if not used by the end of your use year. AVOID holding if possible but if you are going to have holding points it is best to do so with plenty of time before the end of your use year (For a December use year the last day to use them would be the last day of November.)

If you cancel more than 30 (or 31 someone correct me please) days before your reservation, but after your banking deadline, your points are not as restricted as 'holding' points as you can still reserve beyond 60 days if there is time left in your use year, but those points will be lost if not used.

If you cancel a reservation using borrowed points, those points cannot be placed back in your future use year. They are now in your current this year and cannot be banked.

If you cancel the reservation using banked points, this doesn't have any other impact beyond the fact that the bank points will be expiring at the end of the use year following the year they were banked.

If you bank points in your current, you see your you cannot use them for reservations. for the remainder of the use year. You can still borrow from the future you share if need be.

 

[john7994]

When looking at how many points to get, make sure you are not looking at the "value" rooms to determine how many points to get. Those rooms go REALLY fast at the 11 month mark (because lots of people want the cheapest rooms! ), so the likelihood of you getting one of those rooms is slim.

We have two contracts: one with an April UY and one with an August UY. We also travel in early may and early december (with some other trips during other times of the year). I like being able to book our stays for early in the UY. So we use our April points for our May trips and our August points for our December trips. That way, if things change and we have to cancel/move the trip, we don't have to deal with missing our banking deadline for those points. As long as we can cancel the trip within 31 days of the trip start date, we still have full, unrestricted use of those points.

We own at BLT and BWV. I like having these two as we like to do split stays for most of our trips. We do MK while we are at BLT and then HS/EP while we are at BWV. We usually do AK on move day since we have to take a bus there regardless of where we are staying. One of my goals on our WDW trips is to avoid using Disney buses as much as possible, so this approach works well for us. It might not work as well for you with the two kiddos, but it's something to keep in mind for future reference. Disney will move your luggage to your new resort for you, so it makes the transition pretty decent.

Good luck with your buying process!

And if you have things that need to be refrigerated - you can have them stored at your "from" resort until 1P and pick up when you physically are moving, or drop them off at the "to" resort before you head to the park and Bell Services will bring it up with your luggage after you have checked-in.

 

[RoseGold]

I have talked to three different brokers and a private Facebook sale (no broker). I'd be willing to use any of them as long as I have Mason Title.

There are a couple, smaller brokers that sneak some fees in there, that will be obvious from the offer contract, or you directly ask them if they have extra fees.

 

[john7994]

I have talked to three different brokers and a private Facebook sale (no broker). I'd be willing to use any of them as long as I have Mason Title.

There are a couple, smaller brokers that sneak some fees in there, that will be obvious from the offer contract, or you directly ask them if they have extra fees.

I would agree on Mason Title!

 

[arich35]

I have talked to three different brokers and a private Facebook sale (no broker). I'd be willing to use any of them as long as I have Mason Title.

There are a couple, smaller brokers that sneak some fees in there, that will be obvious from the offer contract, or you directly ask them if they have extra fees.

Are you able to choose your own title company?

 

[MICKIMINI]

I have talked to three different brokers and a private Facebook sale (no broker). I'd be willing to use any of them as long as I have Mason Title.

There are a couple, smaller brokers that sneak some fees in there, that will be obvious from the offer contract, or you directly ask them if they have extra fees.

Mason Title is the only company we use. Cammie is incredible. You can ask to have 5K paid by credit card (deposit and/or deposit and final payment) WRITTEN into the agreement. You have to push this with some brokers, but do it when you make the offer and double check your paperwork. Air miles or cash back...it all counts!

Edit: Yes, you choose the title company and don't let the broker push their own title company.

 

[Straulin]

Mason Title is the only company we use. Cammie is incredible. You can ask to have 5K paid by credit card (deposit and/or deposit and final payment) WRITTEN into the agreement. You have to push this with some brokers, but do it when you make the offer and double check your paperwork. Air miles or cash back...it all counts!

Edit: Yes, you choose the title company and don't let the broker push their own title company.

We used Mason for our one purchase and were pleased.

 

[theMoreDisneytheBetter]

With 2 kids staying in a studio will get old quick, especially if you ever end up in a larger room. You may want to at least familiarize yourself with the points charts for the larger rooms when doing your math.