What, if any, are the extra costs buying from DVC.

[jennymouse]

If I were to buy 150pts x $84 = $12600. What is on top of that? Do I have to pay anything else...maintenance fees on 2002 pts if say an October use year? I heard there's no closing costs with DVC. Anything else I should know?

 

[jel0511]

Well first off points are currently selling for $85 per point, so you'd spend $12,750. There are no additional costs, except for yearly maintenance fees, which vary between $3.50 and $4.00 per point. So, expect an additional $525 - $600 per year, with dues usually rising approx 5% per year. This year, you'd pay a pro-rata of 2003 dues, which would be from your closing date. You will be billed for these after closing.

 

[RobDoc]

There are no closing costs or extra fees thru DVC . You will pay maintenance fees prorated from the time you purchase (make the offer). Maint fees run Jan 1- Dec 31 regardless of the use year.

If you purchase now with an Oct use year, you would maintenances fees prorated for Feb 7- Dec 31. You would receive the 159 points from 2002 and then the 2003 allotment in October, 2003.

Cost is currently $84 per point and maint fees are prorated from the time you make the offer (and pay your earnest money)- not from the closing date.

Enjoy!

 

[zillow]

Extra costs? Souvenirs from all of the trips you'll be taking.

 

[imgoingtodisney]

airfare?

 

[jel0511]

Sorry... I thought points were $85 per point.... I must not be paying attention!!!!

 

[spiceycat]

If you elect to exchange to a non-Disney resort there is $75 exchange fee to the cruises, concierge collection, and world passport collection. but to exchange to a Disney resort even the WDW or DL resorts there is no fee. (not a great use of points - but at least you won't have to paid an extra fee)

 

[gracelrm]

Let's don't forget all those pesky little add-ons that you'll want

 

[sparkspeak]

Your biggest additional cost will be adding on more points once the addiction takes hold.

 

[debbiebones]

I was of the understanding the dues are fixed for the duration of your ownership, unless you buy more points. For example, if you buy 150 points per year, your dues will stay at $595 through 2042. Am I incorrect?

 

[cindy_k]

Park Tickets.

 

[vbfamily]

Debbiebones:

Dues are NOT fixed. They usually rise a little bit every year, but have been known to actually decrease.

Unfortunately, they are not fixed. That was one of the things we worried about: dues getting out of control. I believe there is a cap on the amount they can be raised each year-15 or 20%. I don't think they have ever gone up that high in one year.

 

[RobDoc]

There is a maximum yearly increase of 15%, but they have never increased that much in one year. They have averaged an increase of about 3% per year. As noted, some have even decreased some years.

The points needed are fixed thru Dec. 31, 2042. While some dates could be increased, others would have to be decreased to balance the total points needed. this type of adjustment has occurred only once- in 1996 at OKW. No other changes have taken place and none are planned for the near future.

Enjoy!

 

[erikthewise]

There are no extra costs UNLESS you finance through them. Then you pay a small fortune in interest as their rates are pretty high.

Pop Quiz!
Q: How much would dues go up if they were raised by 15% each year for 10 years?
A: Over 400%.

Fortunately no such thing would ever happen. I just wanted to point out that 15% per year really is an extreme figure that no one expects will ever be used.

 

[jennymouse]

Sorry it took so long to get back to the computer. So, I wouldn't have to pay maintenance fees on my 2002 pts, if any, at closing?

 

[wdeversole]

As others stated, dues are based on a calender year, not your use year. You would pay prorated dues from today through Dec 31, 2003.

You would only be getting a little over four months worth of points "dues free" (oct, nov, dec, jan + 7 days of feb)

 

[jennymouse]

Originally posted by wdeversole
As others stated, dues are based on a calender year, not your use year. You would pay prorated dues from today through Dec 31, 2003.

You would only be getting a little over four months worth of points "dues free" (oct, nov, dec, jan + 7 days of feb)

Okay, I've got it now. Sometimes, you just have to beat me over the head with it! Thanks.