We think DVC is for us...

[glaserjm]

Now we want members' opinions on our plan and answers to some questions...

1) First and foremost we want to pay cash, which will require us saving for a few years (I anticipate buying in 2014 or 15), I know this seems a long way off but I do better when I have targeted savings plans.
2) We have recently been doing one to two week long stays per year and renting DVC points from other members twice now. Prior to that we did not stay "deluxe" however now that we've begun staying at DVC resorts, that's what we like to do.
3) We think that resale is the way to go for us, as buying direct doesn't hold any appeal because those "perks" could change at any time and we're really interested in staying at DVC resorts only (if we wanted to do a non-DVC vacation we'd rent out our points if possible and use the cash)
4) We believe that initially we'd buy a contract between 110 and 120 points, just to ensure that this works for us before we bought something bigger. One question I have is whether or not we could combine points from two contracts for one trip as long as it's during the same use year, I'm assuming so. Does anyone have contracts w/ two different use years, and if so does it work well for you? We usually take trips about 6 months apart so I'm thinking it would work for us.
5) We absolutely love OKW and ideally would like to buy there, but in reading these forums it seems like OKW resale are harder to come by because Disney is buying them back. Do you think that is a trend that will continue?
6) We were planning on going to the DVC presentation on our trip in October, have other done this even if they were planning on buying resale? We were thinking that we should familiarize ourselves with all DVC resorts so we're making our most educated decision when buying.
7) What are owners general feelings about the future of DVC resale? Obviously as we are years away I'd like to know if anyone has strong reason to believe that resale will change dramatically.
8) Please feel free to comment on anything you think we've forgotten. Sorry, I know this is a lot!!

 

[DizBub]

You would be able to combine points from 2 contracts for a trip at 11 months for your home resort if they were for the same resort. At 7 months all points are equal. Say you had 150 points at OKW and another 100 point contract at OKW, you would essentially have 250 at OKW......seamless. I would advise that all your contracts be the same Use Year. Easier to manage, only 1 banking deadline.

 

[chalee94]

One question I have is whether or not we could combine points from two contracts for one trip as long as it's during the same use year, I'm assuming so.

if they are for the same use year month AND titled the same, they can be combined under one membership number. things are a lot easier when contracts are under the same member number.

if they are different home resorts, you can combine pts at 7 months out but not at 11 months out.

different UY months takes more planning and effort to track, but it's not that big a deal. it can be a positive as you can use different contracts to be sure to always travel early in your use year.

here's an interesting thread, though:

Why can't I book my stay?

i recommend scanning different threads on the boards to get a feel for what owners deal with...then you can decide whether that might affect you or not.

5) We absolutely love OKW and ideally would like to buy there, but in reading these forums it seems like OKW resale are harder to come by because Disney is buying them back. Do you think that is a trend that will continue?

i doubt it will still be an issue by 2014. OTOH they may have stopped ROFR and restarted by then...

6) We were planning on going to the DVC presentation on our trip in October, have other done this even if they were planning on buying resale? We were thinking that we should familiarize ourselves with all DVC resorts so we're making our most educated decision when buying.

there is a lot of information, video and pictures on the internet. as discussed on other threads, the disney guides...scratch that..."sales weasels" are increasing dishonest in their representations of the program (many are still great but the bad ones have gotten really bad - and there have always been miscommunications even with honest salespeople). you are more educated by reading on the DIS...and if you wind up with a dishonest guide, you will only end up confused.

edited to add: i would wander through the models when you are next at wdw. there's one on the boardwalk that's easy to check out. you can also visit the sales center without dealing with the presentation to see those models. renting also allows you to get a feel for what resorts you prefer.

7) What are owners general feelings about the future of DVC resale? Obviously as we are years away I'd like to know if anyone has strong reason to believe that resale will change dramatically.

eventually, values will go to zero.

if the economy picks up a ton (and/or inflation blows up like crazy), it's possible that resale prices will rise. but i wouldn't bet that way...

 

[princessaloha]

Now we want members' opinions on our plan and answers to some questions...

1) First and foremost we want to pay cash, which will require us saving for a few years (I anticipate buying in 2014 or 15), I know this seems a long way off but I do better when I have targeted savings plans
2) We have recently been doing one to two week long stays per year and renting DVC points from other members twice now. Prior to that we did not stay "deluxe" however now that we've begun staying at DVC resorts, that's what we like to do.
3) We think that resale is the way to go for us, as buying direct doesn't hold any appeal because those "perks" could change at any time and we're really interested in staying at DVC resorts only (if we wanted to do a non-DVC vacation we'd rent out our points if possible and use the cash)
4) We believe that initially we'd buy a contract between 110 and 120 points, just to ensure that this works for us before we bought something bigger. One question I have is whether or not we could combine points from two contracts for one trip as long as it's during the same use year, I'm assuming so. Does anyone have contracts w/ two different use years, and if so does it work well for you? We usually take trips about 6 months apart so I'm thinking it would work for us.
5) We absolutely love OKW and ideally would like to buy there, but in reading these forums it seems like OKW resale are harder to come by because Disney is buying them back. Do you think that is a trend that will continue?
6) We were planning on going to the DVC presentation on our trip in October, have other done this even if they were planning on buying resale? We were thinking that we should familiarize ourselves with all DVC resorts so we're making our most educated decision when buying.
7) What are owners general feelings about the future of DVC resale? Obviously as we are years away I'd like to know if anyone has strong reason to believe that resale will change dramatically.
8) Please feel free to comment on anything you think we've forgotten. Sorry, I know this is a lot!!

Hello. Just wanted to comment on your #5. Since you are not planning to buy until 2014-2015, you might not want to worry too much about this until you get closer to that time frame. 2 + years out is a long time and anything could happen by then. No one knows for sure what Disney's master plan is for any of the resorts and although it's human nature to speculate (which I personally love to do) nothing is for sure until Disney makes it official. If you love OKW, then plan on getting OKW. There are currently other options with trying to get OKW to pass Disney's ROFR process (although nothing is guaranteed) such as paying a higher price per point or looking at the extended OKW contracts which are only a few dollars more a point, etc. But who knows in 2014. If you are overly concern just make up a back plan for another resort, then if in 2014 it doesn't work out for you with OKW, at least you have a back up plan.

Good luck!

 

[ELMC]

Now we want members' opinions on our plan and answers to some questions...

1) First and foremost we want to pay cash, which will require us saving for a few years (I anticipate buying in 2014 or 15), I know this seems a long way off but I do better when I have targeted savings plans.

Sounds like a very responsible plan. As tempting as it is to buy now, you'll be happy you waited and avoided paying massive amounts of interest.

2) We have recently been doing one to two week long stays per year and renting DVC points from other members twice now. Prior to that we did not stay "deluxe" however now that we've begun staying at DVC resorts, that's what we like to do.

It's good that you tried it out and from the sounds of it DVC is for you.

3) We think that resale is the way to go for us, as buying direct doesn't hold any appeal because those "perks" could change at any time and we're really interested in staying at DVC resorts only (if we wanted to do a non-DVC vacation we'd rent out our points if possible and use the cash)

I can see that you have been doing a lot of reading here! But don't forget the "perk" of seeing your "investment" depreciate by 50% before the ink on your direct purchase contract dries.

4) We believe that initially we'd buy a contract between 110 and 120 points, just to ensure that this works for us before we bought something bigger. One question I have is whether or not we could combine points from two contracts for one trip as long as it's during the same use year, I'm assuming so. Does anyone have contracts w/ two different use years, and if so does it work well for you? We usually take trips about 6 months apart so I'm thinking it would work for us.

That's been answered above, so I won't repeat it. One thing I can add, though, is that we typically do split stays, so having two different contracts with two different use years at two different resorts is no big deal. It also makes it easier when shopping for contracts and gives you more flexibility.

5) We absolutely love OKW and ideally would like to buy there, but in reading these forums it seems like OKW resale are harder to come by because Disney is buying them back. Do you think that is a trend that will continue?

I wish I knew. Since nobody has any actual verified information as to why Disney exercises ROFR, it is hard to predict what they will do in the future. One thing to consider is that OKW and SSR are the two resorts that there is almost always availability for. Personally (and other people will disagree) if I wanted to stay at OKW I might look into buying BWV just in case I wanted to stay there. That way I would have the 11 month window there if I ever needed it and odds are good that I could get OKW at 7 months. But if something like that has no appeal, then just stick with OKW. It will be less money as well.

6) We were planning on going to the DVC presentation on our trip in October, have other done this even if they were planning on buying resale? We were thinking that we should familiarize ourselves with all DVC resorts so we're making our most educated decision when buying.

This is a pretty gray area. Some would say that if you know you're not going to buy direct then you are being disrespectful to the commissioned salesperson who is spending his time with you. But if you feel like you are leaning towards resale but want to get the full picture, then I say go. But as previous posters mentioned, beware that the commissioned salesperson will do everything in his power to convince you to buy direct right then and there. I would politely inform him that you are investigating but your budget doesn't allow for a purchase until 2014.

7) What are owners general feelings about the future of DVC resale? Obviously as we are years away I'd like to know if anyone has strong reason to believe that resale will change dramatically.

You'll get a lot of opinions on this. Some people will tell you that they can't believe what the resale prices are now and that they are being artificially propped up. Others will say that they will have value and that value will fluctuate based on supply and demand. The fact is that all DVC timeshares are trending towards zero...because that is what they will be worth when they expire. Exactly how they will get there is up to some debate. My best guess? They will trend downward slowly until there is 20 years left on them, then take a slight drop. Repeat at the 10 year mark when prices will drop dramatically. At 5 years they will probably be worth less than what you could get by renting the points out.

8) Please feel free to comment on anything you think we've forgotten. Sorry, I know this is a lot!!

No problem, these are great questions. Good luck with your savings plan!