What are dues for VB next year?

[floridafam]

Anyone know?

Thanks in advance.

 

[Candace]

I would like to know this too. Thanks!

 

[hmansure]

2004 Estimated Dues Assessment for Vero:

Owners who purchased after 1/1/96 - $4.6715/point
Owners who purchased before 1/1/96 - $3.6715/point

 

[lenshanem]

I didn't realize there were two separate due levels at VB. Why did that happen? What happens if you buy a resale?

 

[PamOKW]

The resort is a "phased" condominium and not all of the original phases have been (or probably will be) built. I'm assuming that the wording in the original purchsers contracts guaranteed that they would be charged dues based on total buildout with DVC picking up the difference. In subsequent contracts, DVC put an "end date" (I think it was 1/1/2000) to this guarantee or did not include it at all. The pre-1996 dues are based on 266 Homes instead of the actual 175 Homes.

Lenshanem -- Thanks for sending me back to the fine print. I just found that DVC is also subsidizing all DVC owners at Vero in the amount of $.3125 with no guarantee that this subsidy will continue in future years. This is in an "effort to afford all existing Owners and current Purchasers with a fair and equitable dues assessment" (their words).

I'm not sure whether a resale from a pre-1996 purchases retains the dues subsidy.

 

[Richyams]

Gilding the lily a bit there Pam, let me help.

VB is only a shadow of its original plan. They had truly wonderful plans to build that resort and even adding units to the other side of the street. Sales were so dismal that the resort was severely pared down. Sales were so awful that Disney took a real big step towards losing face by ending that subsidy.

Sales were so dismal that the chances of there ever being another off site DVC resort were soundly quashed.

Sales were so pitiful that Disney sold at least two different pieces of land that were publicly announced as future DVC resorts.

None of this means that VB is anything but one of the finest resorts that the world has ever seen, I am very happy to have it as an option.

 

[nickglover]

With annual dues at Vero Beach going up so much, to around $700 a year for only 150 points, my wife and I are going to seriously reconsider continued DVC membership.

It seems to me that, not even considering the initial investment, we could take that $700 a year (which will apparently soon be $900 - $1000 a year, and plan "pay our own way" vacations for less - and we would have the added freedom and flexibility of going anywhere and not having to figure out our DVC plans so far in advance - and not having to pay $75 per reservation for Concierge properties and cruises, which adds up quickly.

The main reason we joined was because the points per night, over time, could not increase for a year - they could just be re-allocated, meaning that stays at Vero Beach in future years would become quite a bargain - but this was assuming that annual dues would not increase so rapidly.

With Vero Beach becoming a wealthier area (notice the increased presence of brokerage firms and trust firms, and the increase in the cost of new homes in the area), you can see that the property taxes alone are going to cause large increases in dues at VB.

We love VB, but we may decide to sell our DVC membership and just use cash to stay there.

Nick

 

[nickglover]

Also, aren't dues for post-96'ers 4.6715? (not 4.6175).

 

[floridafam]

nickglover,

You do make some good points. I haven't sat down to run the figures yet but vacationing at VB on points and on cash getting pretty close.

I really need to figure this out in case our add on comes through for VB. I'm not sure if we should take it or not.