Yearly Fees

[jamsmom]

After one decides to buy into the DVC, what are the yearly fees that go with it?

 

[Happy Birthday Cat]

You pay an annual maintenance fee based on which resort you purchased points at and how many points you own. The amount varies by resort.

Here is a link to a recent discussion of the topic. It contains a lot of info on the topic.

http://disboards.com/showthread.php?s=&threadid=338313&highlight=maintenance

HBC

 

[Cap]

Costs are approximately $4 / point / year. So, if you buy 150 points, you have about $600 / year cost. This covers taxes, maintenance / operations, and capital reserves (e.g roof replacement at the end of the roof life).

 

[Doug Wolfe]

Jamsmom... One other thing to consider. How to pay the fee's & taxes. If you buy through DVC directly, there are a couple of options. You can pay them as one lump sum, due each January. Or, you can have it built into your monthly payments, that way you don't get hit with that bill just as the Christmas bills come piling in. I have my payments debited directly from my bank account.

 

[SheriB]

This may be a stupid question, but can you still have your dues debited monthly even if you're purchase is paid in full?

Sheri

 

[HookdonWDW]

Yes you can.

 

[pat-rick]

The mistake I made.
Being new to DVC since this was my 1st year, when I received the bill in December I turned around and immediately sent in my dues. I them tried to set up a monthly payment so it would be paid come next January. I was told I already sent in the payment and it was paid. No matter what I said I was told it was already paid. I waited a couple days thinking about it and tried again. I was again told that it was already paid but to set up a payment I needed to FAX in my information and a VOIDED check, so I did.
In the mail I received confirmation that I would be informed of the payment and it would begin in February 2004. I then called again and informed them that I wanted the payment to start immediately so it would be paid when DUE in January 2004.
It was then explained that IF I do a lump sum it must be paid in full in January 2003. If I had wanted to do payments, the payments would have started February 2003. Since I already paid for 2003 the payments for 2004 would begin February 2004.

IF I had known I could have set up a payment plan in December and paid throughout the year and not needed to send in the entire amount last January.

Hope this helps someone.