What would you do? Need opinions on 1st time Purchase

[Wendybird55]

Hi,

DH and I have been discussing buying DVC for the past 6 months or so. We know the value of it - we've stayed at DVC (rented points) etc. So it is not a matter on "selling" us on DVC. Now it's a matter of where and what to buy....

We are thinking about resale and at first it was mainly because we wanted BWV as home resort. Then we also realized it could cost less.

So here's where I would love input...

Which resaler? I called DVC by Resale today to get info (this is the website linked on allears) The woman was very nice and answered my questions re closing fees, maintenance, etc. I know there is another resaler (Time Share Store from WDW Info). Has anyone used either and if so what was your experience with them?

Which resort? I know I said I was interested in BWV, but SSR has better rates and the maintenance fees are lower. BUT...in looking at the resale boards it is very obvious that the least expensive properties are Hilton Head and Vero Beach (Resale said to go with Hilton because the maintanence fees are lower). If I bought Hilton Head I could get about 50 points more for my budget. YES I know the big drawback is I can't book any WDW property earlier than 7 months. But I don't plan on going Xmas week or Presidents week and I can be flexible with resort and time. WHAT DO YOU THINK? IS MORE POINTS A GOOD TRADE OFF FOR THE 7-MONTH LIMIT?

Buying Disney? DH called our Disney sales person today and he is out until 9/19 on a Disney Cruise. I am curious as to what "deals" I can get directly from Disney - probably on SSR...a good deal from Disney could be as good as resale. Other agents wouldn't give any info to DH - he was told he needed to speak with our sales person. The only offier I know of now is for BLT - $112 until end of Sept. Has anyone recently heard of or gotten a "deal" directly with Disney? Can you get a better deal if you purchase more points?

I know this is alot of questions, but it seems every hour my mind flip flops back as to what I should do. This afternoon I was really leaning towards Hilton Head resale..but then I saw how much more the maintenance was to SSR. But with my budget I'd have to get less points for SSR and I would really like 200...It just spins my head.

So any opinions, input, advice will be appreciated!

Thanks!!

 

[ToddyLu]

If your trips will primarily be at WDW then I would buy a home resort there. THe other hesitation I would have about purchasing at VB or HHI is the fact that if they are (I am getting this from others on the Dis) damaged by a hurricane, WDW might not build them back. If that was the case you would share in the insurance money with the other owners. The maintenance fees are high there also. I would stick with your BWV plan. That way you get what you want...you are always able to stay there if you cannot get another place. You have the benefit of staying there if a waitlist for antoher place at 7 months doesn't work out. I would buy resale if I wanted that resort. You can check out current incentives at the DVCNews.com site. I think it is the financial section. Buy where you want to stay, then add on as you get a feel for how you will be traveling. My DH and I have no plans to ever go to the beach resorts so we will stick with the WDW resorts. Of course you know all of the above...Buy BWV, buy BWV, buy BWV

 

[NH Disneyfan]

We have been back-and-forth for 10 years and are now waiting for Disney's ROFR on an OKW resale. After a bit of analysis (you can only imagine) we found the prices direct from Disney to be very competitive with resale prices (with discounts 3 wks ago). However, the resale only provides 33 years of ownership, versus the 50 from Disney. So, in the end, we could buy 50 years or 33 years with the same average cost per year. Going direct with Disney cost much more up-front, $$ we didn't want to part with so that's what sold us on the resale. This is not an investment for us, it is a place to vacation. I'm sure Disney will let us buy more years later if we want, they're not going to let customers walk away at expiration. So, I don't buy the talk about 50 years is a good resale later if you choose.

We chose OKW simply for price. The price to buy (upper $60s) and the maintenance (mid-low in comparison). Our home resort doesn't matter because we just love Disney, and OKW provided low point rates for the times we want to visit.

I noticed that resorts outside of Disney had much greater fees. Living in the Northeast, we may visit them sometime, but we really want to own at Disney.

How many points would you get at OKW? Does it compare to the other resorts?

We're using the Timeshare Store and they've been great. Remember, with Disney's ROFR the price is going to be competitive with all resales. If you low-ball an offer, Disney is likely to pick it up. So, that keeps the playing field quite equal.

Good luck! Any decision you make, as long as it is right for you, will be a good one! I would buy where I'm going to vacation if possible.

 

[Wendybird55]

Thanks DisneyFan...I'll have to check out Timeshare store...Upper 60's is a good price for OKW. I've been told $68-$75 for SSR.

BWV is our favorite location wise...we've gone there these past 2 years on rented points and both times got what we wanted 7 months out (we went
1st week of Sept). But BWV seems to be selling at higher ratesand the maintenance fees are highr. I would think OKW and SSR would have the better values on resale. I can be flexible where I stay - as you said - either way it's Disney!

If you don't mind my asking - in what ways does Disney require more money up front? From my discussion with resaler today our costs would be the cost of the points plus closing fees (around $450-$475). Did you find that the seller would absorbe the closing fees? And possibley maintenance depending upon when you're purchasing and if any fees are owed for the current year.

Thanks!

 

[NH Disneyfan]

Disney is charging mid-90 to low-100 per point on avg with offers. So, if you look at 220 points (our target) your around $20K+. If you are paying in the high $60s, you're looking at around $14K. The difference is that you get 50 yrs vs 33.

As for closing costs, I understand Disney's to be $250. With timeshare store it is around $500 (due to the extra paperwork with resale). I think the buyer generally pays.

The other consideration is maintenance. 2009 fees were paid by sellers in January - are you willing to pay any? Depends on use year I suppose. For instance, I'm looking at Oct use year, so the 2009 points haven't come in yet so I offered to pay maintenance.

Remember, Disney is going to look at the offer after the seller accepts. They are going to decide if it is a deal they want rather than you. They can swoop in and just buy out from under you, so you have to be careful how much you stick the seller with, what price point you're at, etc. This is big picture, not just the per point price, but all encompassing.

I've read much good about OKW but have never been there. I'm sure for us any resort will be great.

 

[dvc at last !]

I believe that there is NO closing costs if you buy from Disney.

 

[Disneycouple99]

No closing cost for add-ons. First time purchases do have closing cost.

 

[disneynutz]

Don't make you decision harder than it needs to be.

Buy where you love to stay and buy from where you get the best price.

 

[dianeschlicht]

Good advice above, but just remember that the purchase price of your DVC will actually be eclipsed by the maintenance fees over the life of the contract. Those applealing low costs of Vero will skyrocket quickly with the higher maintenance.

 

[DisneyWalker44]

Don't buy the beach resorts to stay at WDW.

Don't buy SSR direct from Disney.

If you really want to buy BWV, you can justify the higher costs by realizing owning BWV allows you to stay in Standard-View rooms, which means you need 10-20% fewer points for the same trip.

 

[JimMIA]

The difference is that you get 50 yrs vs 33.

This is simply not true.

Contracts vary in length by resort, and in the case of OKW by whether the contract has been extended or not. Buying resale vs. buying from Disney makes zero difference in the length of the contract. An SSR contract is an SSR contract and who you buy it from makes no difference.

The only advantages buying direct offers are more availability of options at BLT and AKV (with resale, there won't be very many contracts for sale), financing, and a quicker process. Also, with resale, you are obviously limited at all resorts by what is available for sale, but most of the time you should be able to find what you need without any difficulty.

 

[JimMIA]

I know there is another resaler (Time Share Store from WDW Info). Has anyone used either and if so what was your experience with them?

We have purchased through the Timeshare Store -- the sponsor of these DVC boards -- and so have hundreds of other families here. They are the largest and most experienced resale broker for DVC, and have an excellent reputation. We have found them to be very professional and helpful. HIGHLY recommended!

 

[DVC Mike]

Which resort?

See the Choosing Your Home Resort - What to Consider? thread.

 

[JimMIA]

(Resale said to go with Hilton because the maintanence fees are lower).

Like other posters, I don't consider this very good advice.

Your vacation patterns are likely to change over the course of a contract, and you may very well want to go during December or one of the more popular times a few years down the road. For many of those periods, if you have to wait until seven months, you might not be able to get anything at all. If you own one of the WDW resorts, at least you should be able to get something onsite just about any time of the year.

If I bought Hilton Head I could get about 50 points more for my budget. YES I know the big drawback is I can't book any WDW property earlier than 7 months. But I don't plan on going Xmas week or Presidents week and I can be flexible with resort and time. WHAT DO YOU THINK? IS MORE POINTS A GOOD TRADE OFF FOR THE 7-MONTH LIMIT?

I don't think it is a good tradeoff because there are other options. With banking and borrowing, you can greatly increase the number of points available in a particular Use Year. And if you can't get a reservation because you own at HHI, it won't matter how many extra points you can't use.

 

[chalee94]

assuming you are generally able to book 10-11 months in advance, i would agree with the recommendations to buy BWV. if you truly don't care whether you stay at BWV or SSR or OKW or whatever and are just happy to be on disney property, buy SSR or OKW and save a few bucks. if you get BWV at 7 months, then that's just a little extra...

i'd agree that buying an offsite beach resort like HH or VB is a riskier bet...but if you are typically booking at less than 7 months, points are points. if the lower price upfront offsets the higher annual dues, it might be worth it to you. (there's still the higher risk of hurricanes and such, though...it's definitely riskier to own offsite.)

 

[Coach81]

My 1.5 cents (recession):

1. Go with timeshare store.. they are awesome!
2. Buy where you want to stay (11th month window will eventually be very important to you).


Good luck with your decision!

 

[starwarsdisney]

Don't buy the beach resorts to stay at WDW.

Don't buy SSR direct from Disney.

If you really want to buy BWV, you can justify the higher costs by realizing owning BWV allows you to stay in Standard-View rooms, which means you need 10-20% fewer points for the same trip.

Just curious why not buy SSR direct from Disney?

 

[chalee94]

Just curious why not buy SSR direct from Disney?

SSR direct from disney: get points right now, but pay about $100 per pt

resale SSR: get points in 2 months or so, but pay about $70-75 per pt

 

[TLSnell1981]

We've purchased all of our resales from TTS. We bought BWV.....all with the same UY, so they are linked. Granted, it would be nice to "instantly" have the points available, but we saved approx. $20 per point buying resale. That's a lot of $$$$.

 

[starwarsdisney]

True and we looked at that, but it also depends on how you want to work financing if you can't pay it all up front. I know for a fact that if I finance through Disney I can get the tax break by writing off the interest. Trying to get my own financing I would probably have to do sometime like a signanture loan which I can't write of the interest on my taxes. I think we are looking at buying 100 points at AKV through Disney.