Why not purchase at Vero Beach or HIlton Head?

[Marv_barr]

I have the perfect excel doc for you. I created a couple weeks ago broken down by resort with tabs of initial cost buying direct at 50, 75, or 100 points. Includes price per point, years left/contract end, initial cost, annual dues (total + per point), as well as the total price per point (per per point divided by years left + annual dues)

Id be more than happy to send it to you!

Any chance I could see that document? We are just going throughto purchase our 1st contract. and we arw always interested in looking over different information that people may have.

 

[tguz]

Penny wise and pound foolish IMO. Better to wait and save up or buy less points that compromise for short term savings.

I don’t disagree with you but that is why I used the word “if” you want to get into dvc but can’t afford a big loan. Plus, as others have pointed out, you don’t start to “lose” money for around 10 years. If a person is ok with that, they don’t feel the pain of diminishing returns for 10 years or more.

 

[Dean]

I don’t disagree with you but that is why I used the word “if” you want to get into dvc but can’t afford a big loan. Plus, as others have pointed out, you don’t start to “lose” money for around 10 years. If a person is ok with that, they don’t feel the pain of diminishing returns for 10 years or more.

But that assumes that everything goes well, if there are other issues such as a special assessment or hurricane circumstance, it could be worse.

 

[Maistre Gracey]

Dues at VB are $9.4766 a point on 200 points = $1895.32 x 20 = $37,906.40 with 3% inflation = $68,463.17
Dues at SSR are $6.4041 a point on 200 points = $1,280.82 x 20 = $25,616.40 with 3% inflation = $46,266.06
That's $22,197 more in dues at VB over SSR in 20 years. Assume the $60 less at VB, the purchase price difference is $12,000 more at SSR, but dues will be more than 22K less. It looks better to own SSR. It's the dues that kill you in the long run. ADD that you have a home resort at WDW and can book at 11 months.

Except there is opportunity money in the money not yet spent.

 

[Katie2]

Are special assessments possible under DVC? Our sales rep told us there was no such thing.

75 is the min for the benefits.

But that assumes that everything goes well, if there are other issues such as a special assessment or hurricane circumstance, it could be worse.

 

[Deb & Bill]

Are special assessments possible under DVC? Our sales rep told us there was no such thing.

Yes, there is.

 

[mrt3o3]

Any chance I could see that document? We are just going throughto purchase our 1st contract. and we arw always interested in looking over different information that people may have.

Yes of course! I'd be happy to share! Send me your email address and I'll attach it for you!

 

[Dean]

Are special assessments possible under DVC? Our sales rep told us there was no such thing.

Certainly, the POS spells it out. Members at that resort pay for the resort so anything not covered by insurance will be covered by dues and/or a SA. Often it's better to have a SA rather than a dues increase because a dues increase never seems to go away. I've seen a couple of occasions where a resort stated they were increasing dues for a few years in leu of a SA and the dues never went back down, just like taxes. IMO the issue isn't the risk of a SA but the risk of paying for unexpected damages because of either natural disasters or ongoing damages that aren't planned out well. Since DVCMC gets paid a % of the MF but not of a SA, I'd say an increase in the former is more likely and not having a SA not necessarily a great thing.

 

[tguz]

But that assumes that everything goes well, if there are other issues such as a special assessment or hurricane circumstance, it could be worse.

True, but that is life right? You buy a car with hopes that everything goes right but the engine could blow up 1 mile after the warranty ends. Yet, most people have a car. I guess if a person is scared that this or that MAY happen, they aren't ready to purchase. But, if a person is READY to purchase but can't swing a larger loan payment, is ok with booking at 7 months, is ok with what MAY happen with hurricanes, and is ok with starting to lose money after the first 10 years or so......it may be a good idea for them to purchase to get their foot in the dvc door. A lot of qualifiers there but it seems you have to do that on here.

 

[_auroraborealis_]

Given the last several years, hurricane damage is a when not an if.

 

[chalee94]

Are special assessments possible under DVC? Our sales rep told us there was no such thing.

Do you know how to tell if a timeshare salesperson is lying?

Their lips are moving.

(Didn't used to be as common among Disney timeshare salespeople but they got tired of the "Disney Difference" several years ago.)

The OKW extension was actually handled as a SA, IIRC. HHI is in the middle of a 3 year bump in annual dues in order to pay for recent hurricane damage. I think it was Irene that was originally projected to roll directly over VB before it changed course at the last minute.

Coastal DVC resorts are cheaper for a reason. If you want to roll the dice, feel free, but don't act like you weren't advised against it.

 

[Dean]

True, but that is life right? You buy a car with hopes that everything goes right but the engine could blow up 1 mile after the warranty ends. Yet, most people have a car. I guess if a person is scared that this or that MAY happen, they aren't ready to purchase. But, if a person is READY to purchase but can't swing a larger loan payment, is ok with booking at 7 months, is ok with what MAY happen with hurricanes, and is ok with starting to lose money after the first 10 years or so......it may be a good idea for them to purchase to get their foot in the dvc door. A lot of qualifiers there but it seems you have to do that on here.

But this is not an unlikely issue such as your home getting swallowed up by a sink hole, this is an event that has happened to the resort a couple of times at VB and to a degree at HH and were it to be hit with a storm like Michael, the resort would not be in existence. You might get SOME insurance process but you wouldn't own anymore if they didn't rebuild the resort and they don't have to. You can't eliminate al risk but you can control it, otherwise you'd never leave your house but this is about significant risk and risk that's avoidable. Personally I wouldn't recommend a downpayment other than the 100% down plan for a luxury purchase, esp a timeshare. If it's that close as you describe they simply couldn't afford it anyway not that that stops people nowadays from making foolish decisions and buying things they can't afford. I don't need qualifiers on this, to me it's very simple and logical but I know it's not the norm as most people are broke and it's decisions like you suggest that tend to insure they'll stay that way.

 

[tguz]

But this is not an unlikely issue such as your home getting swallowed up by a sink hole, this is an event that has happened to the resort a couple of times at VB and to a degree at HH and were it to be hit with a storm like Michael, the resort would not be in existence. You might get SOME insurance process but you wouldn't own anymore if they didn't rebuild the resort and they don't have to. You can't eliminate al risk but you can control it, otherwise you'd never leave your house but this is about significant risk and risk that's avoidable. Personally I wouldn't recommend a downpayment other than the 100% down plan for a luxury purchase, esp a timeshare. If it's that close as you describe they simply couldn't afford it anyway not that that stops people nowadays from making foolish decisions and buying things they can't afford. I don't need qualifiers on this, to me it's very simple and logical but I know it's not the norm as most people are broke and it's decisions like you suggest that tend to insure they'll stay that way.

I didn't suggest anyone do anything. I merely said that if someone WANTS to do dvc, this is a way they could get in within their budget. And if it WEREN'T hit and wiped out like you suggest, it still may be a decent way for someone who absolutely wants to get their foot in the dvc door. People have different degrees of risk they are willing to take. If people are broke, that's not my problem. I haven't bought anything that I can't afford and to me, any timeshare is not worth it. "I don't need qualifiers on this"....then you qualified your point by stating "were it to be hit with a storm like Michael".

 

[Dean]

I didn't suggest anyone do anything. I merely said that if someone WANTS to do dvc, this is a way they could get in within their budget. And if it WEREN'T hit and wiped out like you suggest, it still may be a decent way for someone who absolutely wants to get their foot in the dvc door. People have different degrees of risk they are willing to take. If people are broke, that's not my problem. I haven't bought anything that I can't afford and to me, any timeshare is not worth it. "I don't need qualifiers on this"....then you qualified your point by stating "were it to be hit with a storm like Michael".

I don't need qualifiers not the principle, that wasn't a qualifier, just an example of an extreme.

 

[tguz]

I don't need qualifiers not the principle, that wasn't a qualifier, just an example of an extreme.

It most certainly was a qualifier but I'm willing to leave things as is and move on. I do like seeing other people's points of view on a lot of these subjects.

 

[Dean]

Fair enough. Without qualifiers buying VB ONLY for WDW is a poor choice IMO. With qualifiers it can be a good choice to use for VB & WDW depending. HH is less clear cut because it's more main stream and the dues aren't quite as high but ultimately I think it's the same answer. If you buy VB for WDW you give up the 7 month window, have long term higher costs, have additional other risks and haves something worth proportionately less that's likely to be more difficult to sell than the alternative if one has a need to exit.

 

[Katie2]

Do you know how to tell if a timeshare salesperson is lying?

Their lips are moving.

(Didn't used to be as common among Disney timeshare salespeople but they got tired of the "Disney Difference" several years ago.)

The OKW extension was actually handled as a SA, IIRC. HHI is in the middle of a 3 year bump in annual dues in order to pay for recent hurricane damage. I think it was Irene that was originally projected to roll directly over VB before it changed course at the last minute.

Coastal DVC resorts are cheaper for a reason. If you want to roll the dice, feel free, but don't act like you weren't advised against it.

Oh boy! Didn’t mean to get people so riled up, but disappointed we were flat out lied to during our dvc tour. I was on the fence before, but now DVC is a total pass for me. No cap on maintenance fees and the possibility for special assessments is a little too much uncertainty for my taste.

 

[Dean]

Oh boy! Didn’t mean to get people so riled up, but disappointed we were flat out lied to during our dvc tour. I was on the fence before, but now DVC is a total pass for me. No cap on maintenance fees and the possibility for special assessments is a little too much uncertainty for my taste.

IMO the risk is small for a SA and dues are what they are. IF staying on property is of value , DVC makes sense and you can afford it, I'd continue to investigate and give it a good look. DVC makes sense only for DVC stays, mostly for on property and not for non DVC trips of any type (never has, likely never will). Look at resale, for most that's the best by far and for most giving up the perks that are retail related do not justify a retail purchase over a resale purchase. But again, once you're sufficiently educated you'll know the answers on those issues. Just don't let the hype and emotions make your choices as even retail it's just a rental car situation.

 

[Marv_barr]

Yes of course! I'd be happy to share! Send me your email address and I'll attach it for you!

Thanks
Jonathan.e.barr@gmail.com

 

[Maistre Gracey]

I owned at VB when they were hit by two hurricanes. 2004 I think..??
The resort closed for a period of time for repairs, but there was NO special assessment.