Where to buy points?

[plymouthmom]

Greetings DVC Friends!

Before I ask my question I just want to thank all of you out there for your great advice! It has been oh so helpful!

Okay.....here are my questions for today.... Where to buy points?

We are definately buying at BCV, love the location and that pool. We will most likely do 150 or 160 points there.

We want to do another set of points, probably 140 or 150 at another location. I definately see us spending time at Vero Beach as the kids get older and we want a beach option. Would you all suggest that we buy there to get that 11 month option or another resort at WDW.

Also, would love to get thoughts on whether to buy through DVC or not. Does it really save money to buy resale or do you make up that savings in closing costs?

Thanks!

Ann

 

[bblanch]

Also, would love to get thoughts on whether to buy through DVC or not. Does it really save money to buy resale or do you make up that savings in closing costs?

Thanks!

Ann

I'm a rookie, but I'll try to answer your last question...

I just bought a 150 point contract @ BVC via resale for $88/point. Closing costs were $475. So a Total of $13,675. Through Disney @ $101/point it would cost $15,150. That $1,475 was pretty significant to me.

Some of the others resorts or smaller point contracts will work out to not be as signifcant, but your scenario is almost identical to mine... So I guess it depends on whether or not you call $1,475 significant

 

[bblanch]

also wanted to add that may have availability issues with getting 150 points from Disney. You may have to waitlist.

 

[jimmacmn]

There are a couple of issues brought up on the lists about resale. When looking at a resale contract you have to understand that Disney had the Right of First Refusal on all resale contracts. That means that an extremely good deal on paper could be snatched out from under you and you'll need to start all over again. Another thing to look for in a resale contract is the points status. Is the contract stripped of current and next years points? This can affect the price but it also means you may not be able to use your points right away. If you purchase directly from Disney the contract is fully loaded with current points. Having said this, you can also find contracts out there for resale that have full or even banked points. The final possible issue with a resale is that you cannot make any reservations until after all of the ROFR procedures and your closing are done. This can take several months If some of the stories on the list are factual. With points directly from Disney, you can make reservations sometimes when you make your deposit.

When you buy with Disney, you will pay more and as bblanch stated there are waiting lists for BCV points. However, since you are not already a member you have the advantage that you do not have to wait for a specific use year, so the list wait may be a little shorter. Finally, if you are planning to finance this purchase, Disney will finance a 160 point contract for you.

I would suggest that you take this information and explore your purchase from both sides. It probably wouldn't hurt to contact a a Disney sales rep just to get a feel about the wait list for BCV points. Your could probably even put yourself on the wait list without any firm committment or $ down. Then if it came through, you could make a decision at that time.

By the way, we are just down the road from you in Eden Prairie and have been members since 1994. We love it and have contracts at both OKW and SSR. We do like the Beach Club and have talked about a small add on at BCV instead of the OKW extension.

 

[JimMIA]

Also, would love to get thoughts on whether to buy through DVC or not. Does it really save money to buy resale or do you make up that savings in closing costs?

There are a lot of threads on this, but I'll try to sum up the main pros and cons:

Buying Direct from Disney:

Pros
If points are available, the process is quick

You are "in the system" and able to make ressies almost immediately

The purchase is certain -- no ifs

Financing is available if you need it

You can buy exactly the number of points you need

You are dealing with Disney, rather than a real estate broker you don't know

Cons
You will pay a higher price

If you are not currently a member, you will have to purchase at least 160 points for your first contract

BCV points may not be available


Buying Resale

Pros
You will save money, possibly significant money. We saved $4,000+ on a 310-point OKW purchase, and got banked points in the bargain.

You can purchase any size contract -- no minimum number of points

You will sometimes find contracts which contain a substantial of banked points, which gives you more for your money

There are some reliable, reputable, knowledgeable brokers around. The sponsor of this board -- the Timeshare Store -- is the best, IMHO.

Cons
The process is not short. Plan on 8-12 weeks from initial offer to being fully "in the system" and able to make ressies.

There is uncertainty, because you have to clear ROFR as noted above. A knowledgeable broker can be a huge help in that regard.

Some brokers are not reliable and/or knowledgeable.

At least one broker charges purchasers unnecessary fees

You are limited to the contracts which are available for sale. If what you want is not available, you have to keep looking.

The closing costs for resale will be a little higher than direct, but that should be more than compensated by the lower price.


This is certainly not a complete list, and I'm sure others will chime in with other important pros and cons.

 

[pixie08]

There are a lot of threads on this, but I'll try to sum up the main pros and cons:

Buying Direct from Disney:

Pros
If points are available, the process is quick

You are "in the system" and able to make ressies almost immediately

The purchase is certain -- no ifs

Financing is available if you need it

You can buy exactly the number of points you need

You are dealing with Disney, rather than a real estate broker you don't know

Cons
You will pay a higher price

If you are not currently a member, you will have to purchase at least 160 points for your first contract

BCV points may not be available


Buying Resale

Pros
You will save money, possibly significant money. We saved $4,000+ on a 310-point OKW purchase, and got banked points in the bargain.

You can purchase any size contract -- no minimum number of points

You will sometimes find contracts which contain a substantial of banked points, which gives you more for your money

There are some reliable, reputable, knowledgeable brokers around. The sponsor of this board -- the Timeshare Store -- is the best, IMHO.

Cons
The process is not short. Plan on 8-12 weeks from initial offer to being fully "in the system" and able to make ressies.

There is uncertainty, because you have to clear ROFR as noted above. A knowledgeable broker can be a huge help in that regard.

Some brokers are not reliable and/or knowledgeable.

At least one broker charges purchasers unnecessary fees

You are limited to the contracts which are available for sale. If what you want is not available, you have to keep looking.

The closing costs for resale will be a little higher than direct, but that should be more than compensated by the lower price.


This is certainly not a complete list, and I'm sure others will chime in with other important pros and cons.

JimMIA thank you that is so helpful to me even though I am not the op....it is good to see it listed out like that

 

[plymouthmom]

Wonderful Advice! It almost seems like it might be an idea to look at doing both. I have talked to DVC directly, price was an option and resale just seems like a better deal. We are not planning on traveling again until Fall of 2009 so at this point, waiting a few months isn't a big deal. We plan on buying in Feb or March and making our reservations in November for Oct 2009. We are able to plan things very much in advance which is why this is a good fit for us.

Anyone have thoughts on buying Vero?

 

[carlbarry]

.

Anyone have thoughts on buying Vero?[/QUOTE]

That's a good question that I've been sort of ashamed to ask. Vero and Hilton Head can be bought at resale for so much less than within Disney, and also there are a lot of smaller points packages available, which is what I'm looking for. I assume the answer is, "Buy where you want to stay," and that it is MUCH more difficult to obtain reservations within Disney if you own Vero or Hilton Head, so you might be "stuck" going there on vacation instead of the Magic Kingdom. Am I correct?

 

[crisi]

Cons
The process is not short. Plan on 8-12 weeks from initial offer to being fully "in the system" and able to make ressies.

I would say you should PLAN on 12 - 16 weeks. If you get a mere eight weeks from offer to close, you'll be lucky. And, if you are picky about the contract, you need to plan on a month or two (and perhaps longer, depending on how picky you are) to find the right contract. Then you should understand the challenges in booking - some room types at some resorts will book eleven months out at certain times of year.

This means that if you really want to buy BWV with the intent of staying in a Standard View room the first week in December, you need to start looking a year and a half in advance of the trip. On the other hand, if for that first trip you'll take any resort in May, you will probably be fine starting the resale process in December.

If there are BWV points available to buy direct, however, you can call, put the deposit on a credit card, and arrange with your guide to book that December room in January - before you even close. Its still a year in advance of your trip.....

 

[JimMIA]

Vero and Hilton Head can be bought at resale for so much less than within Disney, and also there are a lot of smaller points packages available, which is what I'm looking for. I assume the answer is, "Buy where you want to stay,"

I prefer: "Buy where you would not be disappointed to stay," provided you can reliably book more than seven months out. If you can't book that far out, it really doesn't matter where you own, because at seven months "points is points" and noone has any special booking rights.

...and that it is MUCH more difficult to obtain reservations within Disney if you own Vero or Hilton Head, so you might be "stuck" going there on vacation instead of the Magic Kingdom. Am I correct?

Not really. There is some truth to that statement, but maybe not what you think.

It is no more difficult to get BCV with a home resort of VB than it is to get BCV with a home resort of BWV. Same equation -- at seven months, "points is points."

My advice to anyone who expects to make most of their trips to WDW is to buy one of the WDW resorts. Why? Because -- worst case scenario -- you can book at your home resort during your 11 month window and at least be assured of a place to stay at WDW. If you own at SSR and would like to switch to BCV at seven months, fine. If you can't get availability at BCV, at least you're onsite at SSR.

 

[carlbarry]

I prefer: "Buy where you would not be

It is no more difficult to get BCV with a home resort of VB than it is to get BCV with a home resort of BWV. Same equation -- at seven months, "points is points."

My advice to anyone who expects to make most of their trips to WDW is to buy one of the WDW resorts. Why? Because -- worst case scenario -- you can book at your home resort during your 11 month window and at least be assured of a place to stay at WDW. If you own at SSR and would like to switch to BCV at seven months, fine. If you can't get availability at BCV, at least you're onsite at SSR.

So since I vacation at low-demand times such as Jan. or Feb., I would have no problem booking on-site 7 months out? The reason I ask is, besides the obvious one of savings, I figure I'd like to try out all the resorts at first. At one vacation a year, that would take a few years! Therefore, I'm trying to determine if buying at VB wouldn't be such a bad idea. I would really prefer AKV, but I doubt that small re-sales will pop up for there until a few years. Thanks for all the help.

 

[crisi]

So since I vacation at low-demand times such as Jan. or Feb., I would have no problem booking on-site 7 months out? The reason I ask is, besides the obvious one of savings, I figure I'd like to try out all the resorts at first. At one vacation a year, that would take a few years! Therefore, I'm trying to determine if buying at VB wouldn't be such a bad idea. I would really prefer AKV, but I doubt that small re-sales will pop up for there until a few years. Thanks for all the help.

The big problem with VB is the dues. A few years of the premium dues will quickly eat up any money you save on the original contract. The price difference is worth it if you want VB during the summer months - but for the rest of the year, you would be much better off with an onsite "value" like OKW - lower buy in and low dues.

 

[carlbarry]

The big problem with VB is the dues. A few years of the premium dues will quickly eat up any money you save on the original contract. The price difference is worth it if you want VB during the summer months - but for the rest of the year, you would be much better off with an onsite "value" like OKW - lower buy in and low dues.

That's a good point. I realize that the dues for VB in 2008 will be $6.04 as opposed to OKW of $4.56. However, VB points sell for about $25 less per point than OKW (and $35 less than AKV!). If I buy 75 points (which is what I'd like), I save $1,825 over OKW. Since VB dues are about $100 more per year, that pays for 18 years of the excess dues! And, if I put it in a CD at 5%, it generates about $90 a year, which would go a good bit towards the excess, even deducting income tax.

So I believe the question boils down to, "Can you reserve on-site during off-times reliably?"

 

[BWV Dreamin]

That's a good point. I realize that the dues for VB in 2008 will be $6.04 as opposed to OKW of $4.56. However, VB points sell for about $25 less per point than OKW (and $35 less than AKV!). If I buy 75 points (which is what I'd like), I save $1,825 over OKW. Since VB dues are about $100 more per year, that pays for 18 years of the excess dues! And, if I put it in a CD at 5%, it generates about $90 a year, which would go a good bit towards the excess, even deducting income tax.

So I believe the question boils down to, "Can you reserve on-site during off-times reliably?"

My point exactly. I bought a 50 pt., saved a whole bunch resale, and I didn't pay any closing, fees, and I got banked '06 pts!! I figure I too will be about 18 yrs. or so before the extra MF dues come into play. Who knows, I may not even own it by then! Don't let all the talk about higher MF's scare you from buying pts. It looks like you have it all figured out!

 

[JimMIA]

So since I vacation at low-demand times such as Jan. or Feb., I would have no problem booking on-site 7 months out?

There are probably a couple of periods in there where you might find it more difficult than others, but if you're flexible about where you stay, you should be okay. There's the Marathon week, the President's Day holiday week, and occasionally Super Bowl weeks (it's played pretty regularly in Jax, Tampa, or Miami and a lot of fans spend the whole week touring our state).

And of course, it matters greatly whether you are trying to book right at the seven-month window or within the seven-month window (like 3-4 months out). The earlier you can book, obviously, the better you'll do.

 

[carlbarry]

Thanks for all the positive reinforcement and support! I certainly feel I have another option now, rather than waiting for AKV small-lots of points becoming available. Vero sounds very nice, but it seems like a long trek from the airport, and also probably a place I would care to stay at only once. If I knew that I could always get on-site in Jan.-Feb. with my Vero points, that would be the clincher. But I guess there are no guarantees in life!

 

[BWV Dreamin]

Thanks for all the positive reinforcement and support! I certainly feel I have another option now, rather than waiting for AKV small-lots of points becoming available. Vero sounds very nice, but it seems like a long trek from the airport, and also probably a place I would care to stay at only once. If I knew that I could always get on-site in Jan.-Feb. with my Vero points, that would be the clincher. But I guess there are no guarantees in life!

Well yes, you should buy Vero Beach if you plan to visit there!! Just merely purchasing the pts. for WDW, well you might get disappointed if you don't the get ressie your hoping for at 7 mos. I bought my VB pts. just for Vero....we plan to go every summer. So if its not really for the beach your buying for, you may be better off with a WDW resort pts.

 

[sznk]

It's often a matter of timing and flexibility. I called two weeks ago and booked an ocean view inn room at Vero for early May with a wide choice of dates. (We own at SSR.) I'm pretty sure if I wanted Easter weeks or July 4th it would have been very different.

 

[carlbarry]

It's often a matter of timing and flexibility. I called two weeks ago and booked an ocean view inn room at Vero for early May with a wide choice of dates. (We own at SSR.) I'm pretty sure if I wanted Easter weeks or July 4th it would have been very different.

Yes--BUT if you owned at Vero, would you have been able to book at SSR for May? I assume it's much more difficult to book on-site; that's why the points cost more than Vero or Hilton Head.

 

[sznk]

Yes--BUT if you owned at Vero, would you have been able to book at SSR for May? I assume it's much more difficult to book on-site; that's why the points cost more than Vero or Hilton Head.

again, timing and flexibility. I booked yesterday at VWL for late May, and 2 weeks ago I booked BCV for January! Three weeks ago I booked SSR for this coming Tuesday to Thursday. We'll probably want to stay at Vero once a year, but not in the summer. We go in the Sunday-to-Thursday time frame, and in lower demand times, so it works well for us.
Many folks don't have the flexibility that we have. If we were more restricted on when we could go, we'd be more inclined to BWYWTSTM and book at 7 to 11 months out.