Seriously thinking about DVC next time I vacation at WDW.

[RozFan]

I understand the concept and how it works. What I'm more curious about is how Disney sells the VC to you and that process.
I'm a college student finishing up in about a year and would like one of my first big steps into adulthood to be DVC. What are the dues, credit requirements, down payment, annual income, ect...

TIA!

 

[Moustronaut]

you buy a certain number of "points" at a resort. Each point is around $70 a point with a minimum of 150 points.

Disney really doesn't offer much in the way of financing. From what I've heard they will take 50% of the total price at closing and then 50% over the next 12 months. Or something like that. Many people either pay outright or take out a home equity loan or something like that. So I'm not sure what credit check disney would do.

Dues depends on which resort you are in and how many points you have. Dues are somewhere between $3-$4 per point. Pretty sure there isn't any income requirement as long as you can pay your dues.

Hope it helps.

 

[Chris]

Are there real estate taxes and property taxes on top of the yearly maintenance fees?

 

[RozFan]

That makes it sound so much simpler but expensive. Is DVC really worth it? The only way I would really consider is if I could get Boardwalk Villas as my 'home' resort.

 

[Moustronaut]

it's worth it if you're planning on going every year until 2042. Over the long run, it's MUCH cheaper. You figure 150 points at $70 a point is $10,500. Dues are gonna run $400-600 per year. For that 150 points you can get 9 nights in a studio room at boardwalk villas during the regular summer season. The a standard room at boardwalk inn will run you $2,600 based on 2003 regular season rack rates. So yea, over the long run the saving are HUGE.

Depending on when you plan on traveling (like what time of year) you don't nesecarily need to buy your home resort in the one you want to stay in most often. Home property vs not home property really just have different booking requirements, not different prices.

 

[mikedvcmember]

DVC

You guys should do a search on this. it has been talked about alot on here and i am a dvc memeber and you have it all wrong. there is so many ways you can join and many things you can do to get disney to loan you the money. you can sell back your first year points all kinds of stuff and yes disney does lend money but at a high intrest rate. i think the least you have to put down in 20 % but i paid in full so i dont know for sure. we also get to write off on out taxes the condo fees so dont get scared to much about them. i love my dvc in 17 days i will be going back on my 3rd trip to a home away from home and i cant say enough on how good i think it is. there is alot of people that dont think it is good. you have to ask yourself is this for you?

 

[FormerCM]

I have another question we have friends who know someone who already are members their home is Boardwalk but they just bought some points for the new one opening up. Why would you do that??

We don't know these people or I would just ask them. Can't you switch from one resort to another but my cost you more or less points???

Also, if you have the money it's best to get the most points now than later correct?? We will be down there in 3 days, hopefully with hurricane coming. Going on the tour, just don't understand the home stuff real well!!

 

[DisneyPhD]

I am with mikedvcmember, do a search here, or look over at www.disboards.com in the DVC forem. There is a basic explanation on it and many members who know it all.

After looking around and finding out all you can then ask this question again. Most of the DVC members here have explaned this so much we should just cut and paste what we said before.

Having said that.
We are DVC members and we love it. We joined Feb 2002 at VWL and we have made 2 trips so far (another one to VWL in Jan). We love it and wish we had joined sooner. Before we stayed at Mod's, but we love DVC so much we don't want to stay anywhere else, even other deluxes!