Why have you NOT bought DVC?

[dvczerfs]

i'm really hesitant to give specific advice, since there will always be a lot of personal financial factors that i don't know, but it sounds like you generally fit the profile.

weren't you looking for a smaller resale contract at one point? if you don't have kids, don't go for longer stays at this point and can just use the points at wdw and pay cash for your other stays, maybe taking on less financial risk (and less debt, if you are planning to finance) would be a better move to try out DVC and would make things less stressful? if DVC is a financial stretch for you and will be a source of stress, then i'd vote to wait. only your family knows what to do in your case.

don't feel rushed, though, DVC will still be there in a few months/years if you aren't sure and want to keep researching.

very good, i agree with you.

 

[rie'smom]

For us anyway, our 300 pts were not thought of as an investment. We had the money and my husband surprised me. It was a gift. It's great for staying at WDW but its also great for travel elsewhere. I never broke it down into dollars and cents. All I know is if I want to go to WDW, all I have to do is call member services. Not once have I not been able to get a room and that's including Thanksgiving.
I usually save pts by staying at the S/D for the first weekend and moving to Universal for the next. However, I'm thinking of staying in a studio from now on because the kitchen is a waste so I probably won't watch points as much.

 

[jodifla]

Honestly???

This thread.

We are just waiting for a down payment on another timeshare that we cancelled within 24 hours of buying because the salesman gave us false information to make the sale. And then we were going to buy the DVC immediatly.

Now I am starting to second guess our decision to buy.

Well, you can listen to the naysayers..who haven't bought.

Or, you can listen to DVC owners. Overall, you'll find they are a highly satisfied lot.

We've owned 12 years. We are VERY HAPPY we did this. Our initial purchase has been paid off for about 8 years. So now we have great accommodations for just our dues.

Having plunked down 100 bucks a night for Days Inn quality rooms lately in various parts of the country, my DVC purchase looks all the smarter these days.

Could I cram my family into a small room for every vacation? Yeah. But been there, done that. (Did that this weekend in Nashville, actually. But it in no way compared to a DVC studio even.)

NOW, I get 2-bedroom accommodations on our Florida vacations. We invite friends and family to join us. And we relax on the balcony or just in the living room when the kids have gone to bed. We enjoy the resorts as much as the parks, so the vacation experience isn't getting stale for us.

My advice is to not stretch yourself on points. Buy the minimum, you can always add more once you decide how great it is to stay at DVC.

I'm just glad we took the plunge 12 years ago and didn't overthink it or put it off --- we've had literally countless DVC vacations since then. We have great memories with family and friends.

And, if I wanted to sell it today, I could get more than I paid for it.

For us, it was WIN-WIN all the way. (And we even did the dreaded financing....)

 

[acejka]

Chalee- Yes I was looking for a smalled contract, then I bought at a williamsburg va resort, cancelled that, decided on 160 pts at SSR (only place I would consider buying because I (and hubby) refuse to get AKL and am not into a contemporary resort if it is built, I would go the older properties but they mean resale so I am trying to stay away because it seems more complicated.

I am so all over the board with the subject and this thread really got me thinking so I don't know what to do at this point. I am about to tell the hubby just sign something and I will be happy with something or nothing because either way I look at it has pros and cons, and I am worse than chicken little with what ifs and oh my Gods.

 

[kazfloyd]

Thank you for posting this and everyone's responses. We had been considering buying into the DVC but were hesitant in spending the money and making the committment. We have been weighing the pros and cons. We didn't want to be restricted.

Thanks for all of the information, I think I have my answer now.

 

[mickeyluv'r]

but don't get confused by paranoid posters (who no doubt grow their own food and make their own clothes - the supermarkets and dept stores are out to make a profit, so buying their stuff must be a bad deal for you, you know - and the tinfoil hats have really come a long way...but i digress...)

This has been an interesting thread. Too bad you feel the need to say something like this.

 

[mom2aredhead]

And for a family of 3 it's more affordable to just book a resort when we want to come.

Us too. If we were a larger family, 3+ kids, it would make a lot more sense and I could see doing it, since it's such a hassle to stay a lot of places if you're a family of 5 or more. For us, we fit fine in a regular room, and we usually go when I can find a good rate...for now anyway. When my little guy is older and we can't yank him out of school as easily, our WDW trips will likely be much less often. 'Cause you won't catch me there in July or August. No way...I'll melt!

i just don't see us ever have the $$$$ to pay for that big chunk, and DH would not want to finance it...so??

It's a huge outlay of money. People forget that sometimes. Yes, you can vacation longer for the amount of your annual dues, which is much less than the price of a hotel room, but you also had to lay out about $20K (or more) to be able to do that. It's not really a real estate investment - you're really prepaying for accommodations for the next 35-50 years.

Sometimes the ease of DVC appeals to me though.

Go through the DVC board and look at all of the posts where people were wait-listed, couldn't get the resort they wanted, or are trying to rent out their points because they're unable to use them. It doesn't seem much easier than looking here on the boards for a room only code.

For us, a family of 3, the actual accommodations are not the bulk of our vacation budget, and we've stayed at AKL for our recent and upcoming trips. There are so many other costs involved that laying out that amount of money for only the accommodations part just doesn't work for us.
For our upcoming trip...amounts are approximate but really close
AKL for 7 nights $1450
DDP for 7 nights $600
Length of stay park hoppers $800
R/T air $600
Car rental $110
If DVC price included premium annual passes every year for all of us, I would think a little harder. Even with the discount they give, still not quite worth it for us. However, if I won it during a YOAMD promotion, I certainly wouldn't turn it down!

 

[REL1203]

This has been an interesting thread. Too bad you feel the need to say something like this.

Its the internet, people have the right to express their opinions, Constructive or not... Just got to roll with the punch's, and except every post with a grain of salt... Its great to get different views on things from everyones point of view is my opinions

 

[PamNC]

We have been to 2 open houses and toyed with this idea relentlessly. We keep deciding not to bite the bullet and buy. We usually stay deluxe year and year and the whole "it pays for itself" is certainly appealing, to say the least. This is what holds us back:

* Availability - we've rented points from owners in the past and it seems we can hardly ever get what we want. Given our careers, we're not able to book way far in advance. We hardly never book more than 3 months out. Usually less.

* We feel we would "miss" the "real" themed resorts - especially the Polynesian. Our second fave is the BC, and I know we could stay at BC Villas.

* Yearly fees - we're nervous that these will go up up up up.

* To stay during the weekend, it's OUTRAGEOUS!

* Last, but certainly not least, I always feel kind of "guilty" making a real estate purchase when I should be putting the $$$ into our "real" house. We have an older home (120 years to be exact) that we've been working on a little at a time. I need to spend on that, versus a vacation real estate interest.

Sometimes I wish we would have bit the bullet years ago, but we're still "on the fence." We've almost forgot about it actually.

Interesting thread.

PamNC

 

[geokeim]

I don't think I would want to own an expensive cow, when next year we might want to have chocolate milk.
When you can rent so reasonably, and move around as you please, I can't see burying that kind of money into owning. And believe me, we love the Disney experience as much as anyone.
But, that's what makes it a horse race...... to each their own.

 

[cglaura]

I didn't read every single post so sorry if duplicate.

I can tell you why I owned DVC, but sold it.

We bought when we lived in Mobile, AL...was great to pop down for anytime weekend trips. This also made an annual pass a good idea. It was myself, dh and dd.

Now it is just myself and dd, we live in NJ now, so have flights to consider & park hoppers. I figured out I can get a value for 2 weeks for what I was paying in dvc annual dues. And since we have to fly, it is only convenient budget wise to go at most once per year, usually every 2-3 years.

So for me, it made sense to sell. I still spend the same per year. But now the bulk of the money is making interest in my bank, not theirs. Yes a value is smaller and not so fancy. But we only sleep and shower so the extra amenities were wasted on us.

For those with large families who are able to go a lot during the year or if you really prefer deluxe type accommodations I think it makes sense.

It is all what works for you. This worked for us. I was scared to death the first trip we stayed at ASmu after staying OKW and BWV, not to mention first time just the 2 of us w/out dad. Will it be a dive, will it be icky, dangerous? Turns out to be one of the best we've ever had.

 

[donaldseeyore]

We haven't bought YET. We did a presentation last June and have spent the last year contemplating it. I have done 2 rentals now through DVC owners.

By the end of this month we will have bought into DVC. Why?

1) Large family...we need larger accomodations
2) My annual dues every year will still be cheaper than what 2 rooms or a room the size we need will cost. Even with the dues prices increasing, rooms increase too
3) If we do not ever sell it, my oldest daughter will be almost 50 and my youngest will be 40. To me that means my kids and their children will be able to go to Disney and not worry about room prices.
4) We go to Disney at least 3 times a year
5) I can give family members who otherwise wouldn't have a chance to go, to go
6) I can go to Vero Beach and Hilton Head
7) I have many many many other places to go to if I want
8) I have no want or desire to travel overseas....too scared to
9) I am from Alaska and have family & friends there, I go when I want without having to pay for lodging
10) We are odd in our family, we LOVE Disney, no one understands why....see #5

 

[ChickieToo]

...

* To stay during the weekend, it's OUTRAGEOUS!


PamNC

Just to be clear about the weekend points as it has come up a few times ... yes, taken on their own, they are about twice points of a weekday stay. I know it seems outrageous, but it has to be like this. If weekend nights were the same point value as weekday nights, they would be very hard to book, as everybody, especially those who live within driving distance, would want to book those first (no days off from work, every long weekend people would be fighting for rooms, etc.). This would be very tough for people who are planning to come from far away to plan to stay for a week.

The pricier weekend points balance out the equation, and don't put too high a demand on the most logical time people would want to stay. When looking at number of points needed it's best to look at it over the week and not concentrate on the individual # of points per day. Unless you are trying to reduce the number of points you want to use, or only plan on staying Sun - thurs.

 

[tidefan]

Chalee94, good post. Actually they are all great posts and this thread has been alot of fun to read.

We will be at the BWI and GF for a total of two weeks coming up in May.

I wasn't planning on doing this but now I will: I will document my DVC encounter, if there is one, and do a write-up in the DVC board when I get back. I will take pics too.

Regarding my previous posts: I'm sorry if I sound a little stern regarding this issue. I am just the kind of person who hates to "subscribe" to anything that I cant cancel easily. I was a real estate investor for many years and I sold everything over the last few years except one of my homes. This is the first time since I was 18 where I feel freedom. Freedom from work and freedom from debt.

For those of you who did the research and are enjoying the DVC, I want you to have a great time and know that there is a special place in my heart for Disney and I understand that you love the Dis as well.

When I was a kid in the 70s, our only vacation was every few years and we always chose Disneyland.

Good Post! I also agree that if possible, you should really have the money upfront to pay the buy-in costs. We paid ours all up front, so the numbers have worked our for us. I don't think that they work out quite as well if you finance. Why pay an extra $100+ every month.

There has been very sound advice given by others to purchase small on the resale market and work your way up and pay as you go. This is very good advice. You don't necessarily need 160 points to vacation at DVC. Old Key West studios are only 109 points for a week in the summer season (96 if you can go January or September), so if you only need a studio, resale may be the way to go.

I also think that if you can do it, rent one of the DVC accommodations on one of your trips to see how well you like it. That will help you make your decision...

 

[mikkiwikki]

My opinion is that you would be better off putting your money into Disney stock and not this Timeshare....ooops, I mean Vacation Club.

Save your money to pay cash for vacations and go where you want, when you want.

Disney Vacation Club is NOT an investment. For most people its probably a very bad idea.

Thanks Mr. Vincent - I agree. The opportunity cost of having your money tied up in this is real and undeniable. Invest your money, and then you have the flexibility to go to disney or wherever. I would NEVER EVER consider financing DVC

I reiterate my previous post, and agree with Mr. Vincent AND the paperwork that disney sends you which states
"DVC is NOT meant to be an INVESTMENT instrument" <<< Re-read this...again and again....use a dictionary if necessary.

 

[Daycounter]

DVC is definitely worth the cost. Yes, initially it is hard to part with 20K, but when you think about the long run, and realize that you have so many vacation choices in the future (world passport, ABD, etc.) it makes it an easy decision. Here's a hint ...
Buy as many points as you want, but have split contracts. Ex. if you want 220 pts, but are unsure if you'll need all of them, buy one contract equaling 160pts, and the second for 60pts. That way if for some reason you ever need to sell part of your DVC, you can sell the 60pt contract, and still keep the 160. Otherwise if you only had one contract you would have to sell all of the 220, because Disney won't allow you to sell partial points from one contract.

 

[Cherta]

I keep seeing $20k as the reference point for buying into DVC-if this is too rich for your blood, remember you can always buy a resale contract. I just purchased a 150 pt. BWV contract for $84 per point-disney is selling BWV for $104 per point and you must buy 160 points minimum. It's taken longer than buying direct, but I think the overall savings is worth it...JMHO...

 

[LSchrow]

we stayed offsite once, decided it wasn't for us. tried mods for a few years, decided we wanted more than they offered. so for another few years we stayed deluxe.
finally "did the math", & bought into DVC. we have the option of staying at some of the most beautiful resorts on property (with at the very least, a kitchenette ~ extremelly important for us), flexibility with room sizes, length of stay, & time of year, plus we can travel almost anywhere in the world for the significantly less. btw, we spent little time in the parks now, instead spend our days relaxing, enjoying the resort & other activities.

basically, DVC has given us the vacations we wanted, & will continue to for years to come.

 

[tidefan]

Thanks Mr. Vincent - I agree. The opportunity cost of having your money tied up in this is real and undeniable. Invest your money, and then you have the flexibility to go to disney or wherever. I would NEVER EVER consider financing DVC

I reiterate my previous post, and agree with Mr. Vincent AND the paperwork that disney sends you which states
"DVC is NOT meant to be an INVESTMENT instrument" <<< Re-read this...again and again....use a dictionary if necessary.

*** GOING OFF TOPIC SLIGHTLY, BUT NOT REALLY WARNING ***

As said before, I don't think it's a good idea to finance a DVC purchase. That being said, now that I've thought about it a bit it's really not a great idea to finance much of anything. How many of you have financed a $20,000+ car instead of buying a $4,000 used car with upfront cash? For that matter, why should one buy a Lexus instead of the Toyota model that is really the same car but for thousands less?

I have made the personal choice to drive a paid off car and buy DVC. Others may use the same amount of $$ to buy a BMW. It's all about choices. None of them are wrong. Different strokes for different folks...

 

[Knuckleball]

We also looked at DVC and although we were tempted, we ultimately decided it just wasn't financially worth it, at least to us. Here was our reasoning:

Current costs: There are three of us (2 adults and one teen). We go once a year, stay 6 nights at a moderate and usually get the basic dining plan because we enjoy trying out different restaurants. Unfortunately, we've been going during President's week...can't wait until our son is off to college in a few years and we can go again during the fall value season! Using the past 2 years as an example, in each of those years, VISA or general codes have come out that have given us a small break on the package...usually getting the hopper & water parks for free. So, for each of the past two trips we've spent about $2500 for 6 nights at a moderate, the basic dining plan, & hoppers with water park/fun. We think that roughly $1100-1200 of that cost was for the room.

DVC costs: Using "ballpark" figures, it seemed that it would cost about $15K or so to buy enough DVC points to go once a year for 7-8 nights. But, if we financed the cost, the actual total amount we would have to pay probably would be closer to $17-18K. Assuming we financed that amount for 7 years, we would have to pay about $250 per month ($3000 per year) for the basic cost of the DVC plan. Added to that is the annual maintence fee which I think is about $700. We realized that altogether we'd be spending about $3700 a year just for a place to stay each year...compared to the $1200 we currently pay for a room for 6 nights each year. We then switched gears in our thinking and "ran the numbers" based on if we paid the entire
$15K cost for the DVC upfront, leaving us only with the annual maintenance fee. But since a room at a moderate for 6 nights seems to cost only about $500 more per year than the DVC annual maintenance fee of $700, we realized that even if we paid that $500 more for each of the next 20 years the total cost of doing so would be only about $10,000. Frankly, we figured that if we saved only about $500 a year on our room costs by joining the DVC, it actually would take us about 30 years to break even.

Of course, these are all very rough calculations and based on going to Disney once a year for a week...we probably made some mistakes. But based on this reasoning, we felt it wasn't worth the cost. However, for others who go more frequently and have annual passes, the DVC might be a much better deal. To each, his own!