Your questions are too open ended for them to be answered quickly.
IMHO, you need to read, read the stickys at the top of this area, and read these boards.
Know these terms:
Use Year (UY)
Home Resort booking advantage
Maintenance Fees (MF)
Direct vs resale pricing
11/7 booking windows
Booking with points Points Charts
DVC is Disney Vacation Club. It's a timeshare system. You buy an ownership interest in a DVC resort, either resale or direct from Disney. That ownership interest gets you points each year, which you can use to stay in more apartment-like accommodations, mostly at Walt Disney World.
The costs are the buy-in amount to acquire the ownership interest in the first place, and the ongoing maintenance fees, which go up every year by some amount (about 3% or so a year lately).
The reason people like it is that the maintenance fees for the points you need to rent a DVC room cost quite a bit less than a deluxe hotel room for the same period of time. So you either get to stay in rooms that are roughly equivalent to a deluxe resort room for the price of a moderate or maybe value room, or you get to stay in much larger, fancier rooms with a full kitchen for a little less than you'd pay for a deluxe room.
Already said but:
- Visit Disney's Vacation Club website
- "google" Disney Vacation Club
- Read the stickies at the top of this forum (Purchasing DVC)
- Read up on the things and information at dvcnews.com
- Stop and let it soak in
- Re-read the information
- Come back with more specific questions
1) It's a timeshare, nothing more and nothing less
2) Just becaus it's Disney doesn't necessarily make it better (or worse)
3) It's expensive - especially annual maintenance fees
2. DVC offers a long-term lease-type timeshare contract for onsite accommodations at wdw. (also options in the system at hilton head, vero beach and hawaii). there are other perks that come and go, but the accommodations are all that is guaranteed in the contract.
3. cost is somewhere between $3000 and several hundred thousand dollars. depends on what you want to do... there are also ongoing annual dues based on the number of pts you own (and again the range is probably $15 per month to hundreds or thousands per month.)
4. see #2 answer.
after you do a little homework, come back if you want to know more.