When new DVC is built...

[ErinsMommy]

is there a waiting list to buy into it and will that be your 'home resort'?

Or is it pretty much first come first serve buying into the size/type of unit you want?

Or do existing DVC members get first shot at a new unit being built?

Sorry for all the questions.

 

[_auroraborealis_]

Or is it pretty much first come first serve buying into the size/type of unit you want?

With DVC, you do not buy units. You buy points, which can then be used to book any size unit within that home resort.

It's first come, first serve to buy the points. They usually do a pre-sale to existing members, but new resorts typically have millions of points so it's not like that freezes new buyers out in any way possible.

 

[kniquy]

Or do existing DVC members get first shot at a new unit being built?

I believe that existing member are offered a timeframe to buy in before non-owners. Seems to be that is what they did with CCV. The offer or any deals might be slightly different to owners than new buy in. Honestly it doesn't really make much of a difference because it takes a rather long time for a resort to sell out. For example Poly went on sale in early 2015 and still is not sold out.

s there a waiting list to buy into it and will that be your 'home resort'?

There are some waitlists for older resorts, but it rarely makes financial sense to buy direct for an older resort. This is where people can buy resale contracts and save a ton o.

Or is it pretty much first come first serve buying into the size/type of unit you want?

You are not buying a particular unit-- a unit is assigned for the contract, but you are actually buying points to be used for what ever size unit you want and for what ever time of year you want to travel. You can determine what amount of points you need for the room size you want/need. Sometimes there is a minimum buy in for new members. The points system is much more flexible than other typical timeshares where you are assigned a week and unit to use every year.

 

[ErinsMommy]

I'm not sure I understand how to tie in buying points to make it points to a 'home resort'? Put another way, if I buy points for any new construction going on, how do those points correlate to that resort becoming my 'home resort'? I believe I can use those points I buy to rent a Poly or Bay Lake unit, but if I remember correctly, since its not my 'home resort', I don't have first grab at those rooms when the 11 month window opens -- only the 'home resort' owners do, correct?

Also - again for example - if new construction says for a 2 BR we will need 500 points. So we buy 500 points. Can the resort eventually go up in value where the 2 BR will later need more points to stay there? And how will I then be able to buy those additional points?

Hope this all makes sense. LOL. Thanks so much!

 

[ErinsMommy]

[QUOTE="kniquy, post: 57358988, member: 540142"For example Poly went on sale in early 2015 and still is not sold out.
[/QUOTE]

Really?? Are these the bungalows?? Or units in the Moorea building?

Resale contracts are from people who bought points that no longer want or use them, correct? is that really safe/secure? I mean Disney has the original owners name/info for those points, so if I buy those points, what's to stop the original owner from claiming the points are still theirs?

And we can't just go any date? the points or or unit assigned is for a particular time frame?

 

[ErinsMommy]

I've never bought into DVC before because this is all so confusing. So sorry in advance for the likely dumb questions. LOL.

 

[_auroraborealis_]

Really?? Are these the bungalows?? Or units in the Moorea building?

You're not really understanding how DVC works here. Any given DVC property is assigned points for each unit, in each season, for 365 days. That total number of points to book every unit in every season 365 days is put up for sale. They are not selling individual bungalows or units. They're selling the points that would be required to have those units occupied 365 days per year. You don't "own" a bungalow necessarily, although per deed you may own a fraction of one. You own points.

Resale contracts are from people who bought points that no longer want or use them, correct? is that really safe/secure? I mean Disney has the original owners name/info for those points, so if I buy those points, what's to stop the original owner from claiming the points are still theirs?

How do people buy houses? Condos? There are deeds of sale, filed with the Florida Comptroller. There are contracts. It is exactly like buying a condo.

Also - again for example - if new construction says for a 2 BR we will need 500 points. So we buy 500 points. Can the resort eventually go up in value where the 2 BR will later need more points to stay there? And how will I then be able to buy those additional points?

Once the total number of points for the resort are set, they cannot change. But the cost of individual units can shift, either by reallocation or by season. So, for instance, DVC recently added a Preferred Category at Saratoga Springs. Preferred Units gained several points per night for a booking charge. Standard went down that same number of points. The total number of points at Saratoga stayed constant. To oversimplify ridiculously: If there are 100 points total at a resort, the cost to book every unit all year must never exceed 100 points sum total. But it can change within that cap.

A 2BR will always cost different points depending on time of year, though. Christmas will be more expensive than the first week in December.

 

[ErinsMommy]

You're not really understanding how DVC works here. Any given DVC property is assigned points for each unit, in each season, for 365 days. That total number of points to book every unit in every season 365 days is put up for sale. They are not selling individual bungalows or units. They're selling the points that would be required to have those units occupied 365 days per year. You don't "own" a bungalow necessarily, although per deed you may own a fraction of one. You own points.



How do people buy houses? Condos? There are deeds of sale, filed with the Florida Comptroller. There are contracts. It is exactly like buying a condo.



Once the total number of points for the resort are set, they cannot change. But the cost of individual units can shift, either by reallocation or by season. So, for instance, DVC recently added a Preferred Category at Saratoga Springs. Preferred Units gained several points per night for a booking charge. Standard went down that same number of points. The total number of points at Saratoga stayed constant. To oversimplify ridiculously: If there are 100 points total at a resort, the cost to book every unit all year must never exceed 100 points sum total. But it can change within that cap.

A 2BR will always cost different points depending on time of year, though. Christmas will be more expensive than the first week in December.

Ah I think I got it now, thank you so much for the explanations! Since it appears from PP that "Poly isn't sold out", is it as simple as stopping by a DVC desk and ask how can we buy points/go into contract to make that our 'home resort'?

And please correct me if I'm wrong, but once we do that and pick our week, we can stay every year that particular time period we selected and not have to worry about availability, correct? What happens if we decide one year we rather go a different week or not at all? I understand some weeks may be more expensive and in that case, can I just buy more points? And for the year we decide to skip Disney all together, do the points we didn't use that year 'bank' or its 'use or lose'?

 

[disneynutz]

Ah I think I got it now, thank you so much for the explanations! Since it appears from PP that "Poly isn't sold out", is it as simple as stopping by a DVC desk and ask how can we buy points/go into contract to make that our 'home resort'?

And please correct me if I'm wrong, but once we do that and pick our week, we can stay every year that particular time period we selected and not have to worry about availability, correct? What happens if we decide one year we rather go a different week or not at all? I understand some weeks may be more expensive and in that case, can I just buy more points? And for the year we decide to skip Disney all together, do the points we didn't use that year 'bank' or its 'use or lose'?

You buy points for a resort. That becomes your home resort and you can book there 11 months from any stay date. The same points can be used at other DVC resorts booking 7 months before any stay date. Disney offers fixed week contracts also but 98% of contracts sold are not fixed weeks.

Resale contracts are safe and bought at a several thousand dollar savings compared to buying from Disney direct.

You need to decide which resort is your favorite and based on your Disney vacation patterns decide on a UY.

Reading through the threads here on the DIS will help you understand more about the product prior to buying.

Bill

 

[ErinsMommy]

You buy points for a resort. That becomes your home resort and you can book there 11 months from any stay date. The same points can be used at other DVC resorts booking 7 months before any stay date. Disney offers fixed week contracts also but 98% of contracts sold are not fixed weeks.

Resale contracts are safe and bought at a several thousand dollar savings compared to buying from Disney direct.

You need to decide which resort is your favorite and based on your Disney vacation patterns decide on a UY.

Reading through the threads here on the DIS will help you understand more about the product prior to buying.

Bill

thank you so much!

 

[_auroraborealis_]

And please correct me if I'm wrong, but once we do that and pick our week, we can stay every year that particular time period we selected and not have to worry about availability, correct?

Only if you buy a fixed week. Most DVC owners do not buy fixed weeks at all, and they are both more expensive, and save for a handful of weeks, not strictly necessary.

 

[ErinsMommy]

Only if you buy a fixed week. Most DVC owners do not buy fixed weeks at all, and they are both more expensive, and save for a handful of weeks, not strictly necessary.

Thank you so much!

 

[lilkitty819]

Let me see if I can make this a little easier to understand. Say you purchase Poly as your home resort. You can make your ressie. at 11 months out for the Poly, but if you want to stay at Bay Lake then you would have to wait till seven months before your plan vacation. With DVC you have 5 different seasons. Adventure season will be the lowest point value when you travel. Premier would be the highest point value for travel. As to how many points you need would depend on which season you travel in, how many days you want to stay and which type of room you would want. your use year is actually the month that is assigned to you. So on the first of that month you would receive your points for the year.
Hope this makes it a little easier to understand

 

[miTnosnhoJ]

To make it more complicated, you can have multiple home resorts. If you own points at Poly and Bay Lake, you can book at 11 months at each.

 

[D-Trick]

thank you so much!

If you go with a trusted reseller (they need to specialize in DVC) then you will have nothing to worry about. The tradeoff from buying resale vs direct is time; resale takes upward of 8 weeks because of the transfer of title etc, whereas buying direct has the points available to you pretty much immediately. However you will save THOUSANDS buy buying resale, with the exception of the newer properties (Poly and Copper Creek)

Many new resale owners (like myself) buy a resale contract, then buy a 25-50 minimum add on contract direct to get full member benefits.

There are many threads on here that are super informational! Best of luck!

 

[Roxyfire]

Definitely read through the DVC Resource Center guide stickied at the top. I'm still in my first resale buy process. Another commenter once said, make sure you can define and understand certain terms relating to DVC (such as Maintenance Fees, Use Year, Home Resort, Banking/Borrowing) etc before buying. I'm sure there's many more factors to consider. Some of those might be family size and ages, times of travel, how many times you go in one year, how much can you put down today, etc.

Then once you think about all those things, I use the calculator at davids dvc rentals to get an idea of how many points I'd be using in a given year. The great thing is it shows you all the resorts and room types in a chart so if you aren't sure where you'd want to stay, you can see the difference. After that you could consider whether to purchase directly from Disney, which might be good if you want Copper Creek or Polynesian, or resale if you want to really get a good value and don't mind staying wherever.

 

[ErinsMommy]

thank you so much everyone for all the comments, suggestions, links, etc. I clearly have alot of reading to do! LOL

 

[Matty B13]

You can buy in to any of the DVC resorts, either through a resale contract or directly through DVC. Make sure you know what resort you want to stay at and what time of year.

 

[com_op_2000]

You're not really understanding how DVC works here. Any given DVC property is assigned points for each unit, in each season, for 365 days. That total number of points to book every unit in every season 365 days is put up for sale. They are not selling individual bungalows or units. They're selling the points that would be required to have those units occupied 365 days per year. You don't "own" a bungalow necessarily, although per deed you may own a fraction of one. You own points...

This is not totally true:
DVC is required by contract documents to own at least 2% of points at every resort.
These points are used for breakage or maintenance and if not needed for either of these on a particular day can be transferred to Central Reservation Office (CRO) for them to make a reservation. The monies received from these reservations are used to offset the MFs we pay.

Definitely read through the DVC Resource Center guide stickied at the top. I'm still in my first resale buy process. Another commenter once said, make sure you can define and understand certain terms relating to DVC (such as Maintenance Fees, Use Year, Home Resort, Banking/Borrowing) etc before buying...

I believe that I am who you are talking about:
OP, You are doing the right thing by doing your research up-front.
Read these threads on the DIS and understand the following terms:
UY
MF
HR
11 month and 7 month booking windows
Concierge Collection
RCI
CM
MS
Direct vs resale
Rule of 4
Once you have a full understanding of these terms.
Then read some more.

 

[_auroraborealis_]

This is not totally true:
DVC is required by contract documents to own at least 2% of points at every resort.

Well, yeah, but she was already confused, and the heart of my point is that you don't buy units, you buy points.