Considering buying into DVC-- need advice

[dizneyfan]

We are considering buying into DVC. Of course at this point we have heard all the wonderful things about DVC (from Disney) can anyone tell me the negative (if any)? We have a friend who owns another vacation club. You need to book at vacation at least two years in advance to get anything decent. Help please-- thank you

 

[DisneyPhD]

Well here's what I'm thinking. I could save up the $4 grand or however much to buy 50 points at Old Key West from a reseller. Then since I would be a DVC member I'd use that membership to get discounted annual passes. (And with the annual pass get the dining experience as well). Then I'd use my annual pass to book a discounted one week stay at one of the more expensive resorts. Then I'd go back a few months later and stay 5 nights at the Old Key West studio using the DVC points (which would only cost $175 per year). So it would almost be like having 2 deluxe Disney vacations per year for the price of 1, just for that initial $4 grand investment. It would be thousands in savings each year, so it would pay for itself after about 2 years. I think I like this idea!

Sounds good to me, you sold me (opps I already am a DVC member :drevil: ).

I recomend enought for 12 points a night, (60 total) That way you could do any of the resorts in a studio for 5 nights in adventure or choice season. (and if you do OKW save those 20 points for an extra night or more the next year. You could also bank and borrow enough points for 3 years and (180 points) and stay in a one bedroom a whole week at OKW or 6 nights at BCV or VWL. (Adventure season). Don't forget about get aways to Vero Beach or Hilton Head too, they can be very point cost effective.

You can also try for a prefered veiw at BW for 9 points a night (fills up fast with BW owners though, but it could happen.) I think SSR is less points then BCV and VWL too.

The AP discount is not a garenteed peek of DVC. There is no promise they will keep it forever. However I don't see them getting rid of it any time soon.


I may be helping, or not helping. (if you hubby doesn't want to do it.)

Sounds like a plan to me.

Edited to add I just realized you live in NC, going to HH wouldn't be that far so if you wanted to use points you could do some get aways to HH very cheaply!

 

[Laura]

I recomend enought for 12 points a night, (60 total) That way you could do any of the resorts in a studio for 5 nights in adventure or choice season.

Very good thinking! Well worth the cost of an extra 10 points to have that option. I am seriously considering this now!

 

[DisneyPhD]

This is just another example of how felixible DVC is and how it can be good for anyone who loves going to WDW and staying on property.

Check out http://www.dvc-resales.com/ (timeshare store.)
and
http://www.disboards.com/forumdisplay.php?f=28 for more DVC info.


Be sure to let me know if you do join. It sounds like an exciting plan.

:sohappy:

 

[ripleysmom]

Okay here are some Cons...

If you are staying at a DVC resort on your points, you do not receive daily mousekeeping. If you would like the service there is an additional charge.

If you are a person that likes to stay at many different resorts DVC may not be for you. The best use of points is at DVC resorts. You can use your points at other properties but the point costs per room are much higher than at a DVC resort.

If you are someone who likes to go at the last minute DVC may not be right for you. DVC does have a lot of flexibility but your best bet to get what you want is to call at the 11 month window and book your room. People who try to go at the last minute can be disappointed to find that there are no rooms available.

If you tend to go only once every 4 or 5 years it might not be right for you. Also if you are happy with the Value resorts then DVC may not be right for you.

The maintenance fees for DVC tend to be higher than other timeshares out there. If staying onsite is not that important to you or if you want to trade out to another location, DVC may not be right for you. Trading out of DVC is not the best use of your points and you are limited in terms of the II properties you can use (although that is because Disney's standards for trades is so high).


I think I covered everything. We've owned for 5 years and have more than made back our initial investment so don't let the initial buy-in deter you.

Good Luck with your decision!

 

[socalkdg]

The discount on AP's is nice. It may be difficult to buy a 40-60 point contract because there aren't that many available.

I also know many people stay Sunday to Friday, move to a moderate for the weekend, then back to a DVC resort for the next Sunday to Friday. This way you can get a studio for 80-120 points and stay almost two weeks. Even adding the weekend still gets you in a studio at 120-140 points for 12 days.

The big problem is once you try a 1 bedroom, you might not want to ever go back to a studio.

 

[DisneyPhD]

The discount on AP's is nice. It may be difficult to buy a 40-60 point contract because there aren't that many available.

I also know many people stay Sunday to Friday, move to a moderate for the weekend, then back to a DVC resort for the next Sunday to Friday. This way you can get a studio for 80-120 points and stay almost two weeks. Even adding the weekend still gets you in a studio at 120-140 points for 12 days.

The big problem is once you try a 1 bedroom, you might not want to ever go back to a studio.

That is true (not wanting to go back to a studio) but you can if it means more days. We like one bedrooms, but found we can do just fine in a studio if need be. Once you do DVC you don't ever want to go back to a normal room. We are staying at PORS in a few weeks and we will see how we do.

Another thing is you can get a 25% discount for DVC rooms on the weekend and pay cash if you need to save your points and don't want to move. Sometimes we stay in a studio on the weekend and move to a one bedroom on Sunday.

I have seen a few 60 point convtracts aviable (often at VB, the dues are higher.) If you are looking to stay at Value season in a studio I would not worry too much about needing to book at 11 month window. Most of the time there a room open somewhere, it just might not be your 1st choice.

 

[Mariosdad]

Hello! I'm not sure if Disney allows a person to buy in at less than 150 points.

I've been a DVC member since 2002 & was just looking at the contracts. If you buy direct from Disney, it must be at least 150 points. In the contracts it does say that disney has the right of first refusal before resale.
I don't know if you can buy just 60 points. Don't know if you really should!
I have 150 points & wish I had more.

 

[dvcnut39]

We are considering buying into DVC. Of course at this point we have heard all the wonderful things about DVC (from Disney) can anyone tell me the negative (if any)? We have a friend who owns another vacation club. You need to book at vacation at least two years in advance to get anything decent. Help please-- thank you

If you are seriously considering buying into the DVC, then I would find a member and really read the Member Guidebook. It's the best way to find out whether or not the program is best for you.

While doing our research we found two major negatives-

1.) Whenever your plan expires (40-50 years)- you lose all interest in the property

2.) It costs approxmately twice as mony points to stay on weekends as it normally costs during the week.

Even with these two major negatives, we were still able to justify buying into the DVC for several reasons. This list includes, but is certainly not limited to-

1.) Disney does not consider this a "traditional" timeshare. They consider it prepaying future vacations. It is only called a timeshare so we can write off the interest on "our" deeded property.

2.) Flexiblity, flexibility, flexibility

3.) Major discounts on just about everything- every time we check the list of places that gives discounts keeps getting longer- for example- just look at the Annual Pass discounts- $100 off per person

4.) Numerous publications mailed and emailed to Members

5.) Being told "Welcome home" upon your arrival- you'd be surprised just how good those two little words make you feel

We could go on and on and I'm sure that Gail and DisneyPhD could add many more to this list.

I hope this helps, but like I said, do your homework and do what's best for you.

 

[Gail Hayden]

1.) Disney does not consider this a "traditional" timeshare. They consider it prepaying future vacations. It is only called a timeshare so we can write off the interest on "our" deeded property.

Disney has to call it a timeshare because that is what the state of FL calls it as there is no provision or title for Vacation Clubs. We can also write off the taxes.
BTW, after 13 years of writing about the positives of DVC I am more than happy to pass the reins to you. Go for it!!!!

 

[Erik]

There are two nice (slightly dated, but still good) financial models on www.mouseplanet.com - that help explain inflation, rate of return on market investments, etc. Check those out.

My fiance is in finance - we have discussed this, and she would tell you that it's tough to find an investment expert that would call any timeshare a good use of money from a strictly financial basis (points have already been made about investing the 20K and paying for a lot of vacations off the interest) - you are better investing in real estate that you truely own, stocks or mutual funds that yield an average of 7-10% interest (compounded), etc.

But this isn't just a financial decision - it may be emotionally worth it if you love Disney and want to "own" part of the magic and feel more at home in Disney. We have all made purchases that may have not made total financial sense, but were truely worth it to us in the excitement the purchase provided us!

Good luck with your decision!

 

[DisneyPhD]

BTW, after 13 years of writing about the positives of DVC I am more than happy to pass the reins to you. Go for it!!!!

I agree, you are doing a good job, I don't mind someone taking up the slack at all. :lookaroun :lol:


Ok I feel it is more of an "investment" in yourself and your family. We joined DVC after my 1st child was born, but I was still working part time. My salary was mostly for our "fun" things and savings. Well then I was laid off 3 years later and got pregnant wit hour 2nd child. I decied to stay home for a few years instead of finding new work. Everyone said "I guess you have to give up your WDW vacations every year." Hubby and I said "no they are moslty paid for already since we have DVC. We couldn't afford to join right now (or at least justify it right now.) but since we already did it (and paid cash) we are all set for the next close to 40 years.

Also unlike a vacation house we don't have to pay unexpected amonts of money to it and spend a lot of time careing for it. We just pay our annual dues and we are good.

We want more points, but that will have to wait until I start working again, or at least win some money!

 

[Laura]

Everyone said "I guess you have to give up your WDW vacations every year." Hubby and I said "no they are moslty paid for already since we have DVC.

Another good point - you're SOOOO selling me on this LOL.

You said you want to get more points - can you add more points onto your existing ownership or do you have to almost do a "refinance" and go through closing and everything to do it?

 

[crazycalf]

Another good point - you're SOOOO selling me on this LOL.

You said you want to get more points - can you add more points onto your existing ownership or do you have to almost do a "refinance" and go through closing and everything to do it?

You can add on points direct from disney but there is a minimum that you have to add on at one time. If you bought additional points through resale you would have to go through the whole process again.

Keep in mind if you buy the 60 pts for OKW now, you can book OKW 11 months out. If you buy an additionl 50 for boardwalk later, you can then book boardwalk 11 months out but only for the 50 Boardwalk pts.
You can combine all 110 pts to book any DVC but you would not be able to book until 8 mths out.
Also, I'm not sure what the resale price is , but if you buy Saratoga Springs, you will own it for a few more years than any of the other DVC resorts.

I hope all of that made sense

 

[Gail Hayden]

Another good point - you're SOOOO selling me on this LOL.

You said you want to get more points - can you add more points onto your existing ownership or do you have to almost do a "refinance" and go through closing and everything to do it?

Every time you add on more points, you do a closing. The minimum for add ons are 25. 50 to finance.

 

[Gail Hayden]

Disney PHD, you are doing an awesome job explaining this all. I hope you continue and you can "retire" after 13 years, like me. LOL

I agree, you are doing a good job, I don't mind someone taking up the slack at all. :lookaroun :lol:


Ok I feel it is more of an "investment" in yourself and your family. We joined DVC after my 1st child was born, but I was still working part time. My salary was mostly for our "fun" things and savings. Well then I was laid off 3 years later and got pregnant wit hour 2nd child. I decied to stay home for a few years instead of finding new work. Everyone said "I guess you have to give up your WDW vacations every year." Hubby and I said "no they are moslty paid for already since we have DVC. We couldn't afford to join right now (or at least justify it right now.) but since we already did it (and paid cash) we are all set for the next close to 40 years.

Also unlike a vacation house we don't have to pay unexpected amonts of money to it and spend a lot of time careing for it. We just pay our annual dues and we are good.

We want more points, but that will have to wait until I start working again, or at least win some money!

 

[calidisneygirl]

The DVC is awesome. We heard the sales presentation in 1997, but didn't become members until 1999. What a great investment. We go to WDW every year, we have brought friends with us twice. Our initial purchase was at OKW, they were ready to sell out so we purchased the minimum points possible. I wanted more, hubby (budget minded) said no. We purchased more points at Beach Club when they became available.

We can book vacations 11 months out at our home resorts (OKW & BC), we can book 7 months out (I think, hubby does the bookings) at any other DVC resort. We used to stay at moderate resorts, then traded up to studios at DVC and have now evolved to 1 bedrooms (it is the whirlpool tub that gets you hooked). We have not gotten tired of WDW yet, so we haven't traded for any other vacation. I will say that the downside is the points needed to stay at DL, we live 15 minutes away and two nights here count for about week @ WDW.