Hi folks, we are a Canadian family with 3 kids under the age of 7. I got the DVC pitch recently on a business conference. The Grand Floridian is where we are thinking of basing. We have never been to Disney as a family. Can folks share how they have found the ownership experience? Where is the break even. Better new or in the resale market? Thanks, cautious Dad.
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Thinking of buying
- Thread starter Canada5
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Lots of prior discussions and opinions about all things DVC. Hope you find what you are looking for.
ParentsOf4
Well-Known Member
First, welcome to WDWMagic.com!
Second, consider purchasing DVC through resales; you'll save thousands. Google "DVC resales" to get started.
Third, this article is one of the best introductions to DVC: http://www.mousesavers.com/other-disney-vacations/disney-vacation-club/
Fourth, we recently stayed at the Villas at the Grand Floridian (VGF). Very nice but rather boring. VGF is in its own separate building with nothing to offer within the building. Needed to walk to the Grand Floridian for just about any and everything. Really not at all what we're looking for when we stay DVC.
Fifth, DVC is great if 1) you frequently visit WDW (at least once every 3 years), 2) intend to stay at Deluxe Resorts while visiting WDW, and 3) have the money to pay cash. If you don't meet all 3, then consider simply renting DVC points.
Sixth, with its high buy-in price, high points-per-night requirement, and high initial Maintenance Fee, the break even at VGF is at least 10 years, much too long for a timeshare. After strong initial sales, sales at VGF have plummeted. See this thread for a discussion: http://forums.wdwmagic.com/threads/disney-executives-worried-about-vgf-sales.876679/
DVC Mike
Well-Known Member
The Villas at Disney's Grand Floridian Resort and Spa are fantastic! I've only seen a couple offered on the resales market, so if you want to buy into DVC at the Grand Floridian, you'll most likely need to buy from Disney.
There are a lot of factors to consider when buying in to DVC, so do your research and make the best decision for you.
We're thrilled with our VGF purchase.
There are a lot of factors to consider when buying in to DVC, so do your research and make the best decision for you.
We're thrilled with our VGF purchase.
BCVTalsJam
Active Member
Best decision we ever made just do it!
I would suggest that you first try out a trip to Disney as a family as you say you have never been. See whether you like it or not. You can rent points from an owner and stay at a DVC accomodation, preferrably at the resort that you want to buy at. Maybe even do a split stay (3 nights at one resort, 4 nights at another). You can also look around at the other DVC resorts.
Take advantage of the low stress, can buy any time policies of DVC. I researched and made spreadsheets for about a year before making my first purchase (200 VWL points, resale). I would recommend renting some points and taking a family vacation that way first (good tip from @Bolna ). As @ParentsOf4 alluded to, VGF does seem very pricey. Even though I haven't researched buying at VGF, I have done two periods of intense research into DVC prices and the cost of VGF ($150/pt I think, please feel free to correct if I'm wrong) is a bit pricey for me. So, try renting points, and if you want to buy compare the costs of "new" points versus the cost of "used" points and decide what is best for your family. You may also want to try a trip where you stay off-site. A lot of people like vacationing in this way and if you like off-site just as well, then DVC really wouldn't be for you.
GoofGoof
Premium Member
Good advice so far. Also, for a family of 5 and having 3 young kids definitely consider at least a 1 bedroom for your stays. A studio can be tight for 5 people. It's very nice to put the kids to bed early and still be able to unwind with an adult beverage in either the bedroom or living room depending on where the kids are sleeping. Before buying it would probably be a good idea to rent points and try it out especially since you haven't been there with the whole crew.
DVC only makes financial sense for those who plan to stay at a DVC resort at least every couple of years. If, as you say, you've never been to a Disney park before, that's a very large, very long-term financial commitment to make without even knowing if you'll enjoy trips to Disney parks. You'll be paying hundreds to thousands a year in maintenance fees every year, whether you go or not. If you buy direct from Disney (the highest possible price), the odds are you'll get nowhere near to recouping your costs if you decide it's not for you.
DVC isn't going anywhere; I'd strongly recommend that you plan a trip to WDW and get a feel for the place, see if it's someplace you see your family visiting on a regular basis for the foreseeable future. Check out VGF, and all of the DVC resorts on property to see if you'd like another resort better.
DVC isn't going anywhere; I'd strongly recommend that you plan a trip to WDW and get a feel for the place, see if it's someplace you see your family visiting on a regular basis for the foreseeable future. Check out VGF, and all of the DVC resorts on property to see if you'd like another resort better.
Jim Chandler
Well-Known Member
DVC works if you use it right. If you buy on the resale side you will not get the original years it was purchased for. We got ours and they were for 49 years and transferrable to our kids. The resale will be for what ever is left thus one reason they are cheaper. Break even is totally dependent of what you use your points for and when. A week at Grand Floridian is more money than the same week at Key West. Thus it is more points as well. Of course using your points at lower required usage allows you to stay longer or more often. You can also use your points for places like Disney's Vero Beach or Disneyland or other adventures like African safari. You can also save points forward and pull from a year to the current year. Points value is tax deductible as you get a deed and are considered like a second home.
As stated YOU need to use your points right. How others use their points really has no bearing on yours. We watch for our BE point but it is not a deciding factor in buying as we are more concerned about using them for enjoyment not an investment in the traditional way.
As stated YOU need to use your points right. How others use their points really has no bearing on yours. We watch for our BE point but it is not a deciding factor in buying as we are more concerned about using them for enjoyment not an investment in the traditional way.
That's not the case. All contracts for a specific resort end on the same date, no matter whether you purchase direct from Disney or resale. For example, SSR contracts end on 1/31/2054. If you buy SSR direct from Disney, it ends on that date. If you buy SSR resale, it still ends on that date.
ETA: Also,how you buy has no impact on whether or not you may leave or gift the contract to your children. Either way, the contract is yours to do with as you wish. Keep it, sell it, will it to the kids or gift it to the kids.
Just a clarification here. You can't deduct the entire value of your points. Depending on your particular tax situation, you MAY be able to deduct the property tax (which is a small amount), and if you finance your purchase, you may be able to deduct the interest on the loan.
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Jim Chandler
Well-Known Member
This all depends on your state
EOD K9
Well-Known Member
I purchased 150 points back in 2005 for SSR. I've gone at least twice a year since. I have used it for taking my wife, in-laws, and my parents all in one trip. The reservations were for each family to get a studio and it worked out great. My DVC has also been used to stay at Grand Californian twice and have had no issues there. It was financed at the time and I have a little more to pay on it. I sat down once and did the break down for as many trips taken and the price. It has paid for itself a few years ago and I'm only eight years in. Its your call, but IMO, its worth it.
GoofGoof
Premium Member
Each resort has an end date. If you bought direct from Disney at BWV 7 years ago your contract is scheduled to end in 2042. If you buy resale today your contract still ends in 2042. If you buy direct from Disney at BWV today your contract also ends in 2042. For the original poster if they want to decide between resale and direct from Disney the contracts are going to end at the same time there is no difference on length. Where the difference comes in is with the ability to trade in your DVC points for use at non-DVC Disney hotels or on Disney cruises. If you buy resale today you can not take advantage of these options. You can only use your points to book a DVC room at any of the DVC resorts or trade in the points via RCI.
The other big difference is price. Last time I checked the direct price from Disney was $150 for VGF, AKV and Aulani with BLT at $165 and BCV, BWV, OKW, SSR and VWL at $130. In some cases the resale price can be close to half the direct price. As an example resale at BLT can be found for around $95 or $70 less than the direct price. If you were buying 200 points that is a savings of $14,000 over buying direct. There are closing costs with a resale purchase but they typically run a few hundred dollars. You have to consider if its worth the extra $14,000 to be able to trade in for cruises.
The other big difference is price. Last time I checked the direct price from Disney was $150 for VGF, AKV and Aulani with BLT at $165 and BCV, BWV, OKW, SSR and VWL at $130. In some cases the resale price can be close to half the direct price. As an example resale at BLT can be found for around $95 or $70 less than the direct price. If you were buying 200 points that is a savings of $14,000 over buying direct. There are closing costs with a resale purchase but they typically run a few hundred dollars. You have to consider if its worth the extra $14,000 to be able to trade in for cruises.
Jim Chandler
Well-Known Member
It is more than just cruises that you can not get. You only can use for DVC/RCI and no other Disney property including cruises, safaris, no member perks etc...So you are talking more than half of the things missing with resale. So if you only want DVC rooms go resale if you want it all do not go resale
GoofGoof
Premium Member
True. It's more than just cruises. I borrowed this from another thread. It gives an idea of how many points you would need to trade in for various things:
Here's the scoop on trading in with DVC. Just the facts. I'll post my opinion below.
If you buy resale you can not trade in for what they call Disney Destinations which include Disney hotel rooms worldwide, Disney cruises or Adventures by Disney which is their guided tour operation. You also cannot trade in for their Concierge Collection which is essentially high end hotels around the world. You can however trade in through RCI and I believe Club intrawest at over 500 resorts worldwide or use your points at any of the existing or future DVC locations. Here are some point examples from the DVC vacation planner:
Disney Destinations:
WDW: between 18 and 32 points per night for a moderate, between 39 and 152 points per night for a deluxe.
Disneyland: Between 25 and 113 points per night.
DLP: between 24 and 110 points per night.
Hong Kong: Between 39 and 57 points per night
Tokyo: Between 44 and 89 points per night.
Disney Cruise Line (Per person not per room):
3 night Bahamas Cruise: cheapest room between 74 and 114 points, room with verandah between 84 and 131 points, deluxe family stateroom with verandah between 96 and 177 points.
7 night Caribbean Cruise: cheapest room between 168 and 231, deluxe ocean view with verandah between 190 and 287 points, deluxe family stateroom with verandah between 220 and 376 points.
14 night Mediterranean Cruise: cheapest room 147 to 177 points, most expensive between 317 and 347.
7 night Alaska Cruise: cheapest room 157-204, most expensive 388-426.
Adventures by Disney (Per person not per room):
6 night Costa Rica 443
9 night Ecudor 1003
Various 7 and 8 night trips in Europe between 568 and 1,000 points
11 nights Australia 1,076
9 nights Egypt 836
Concierge Collection:
Ranges from 31 to 127 points depending on resort and time of year.
RCI Exchanges:
I have never done this, but I believe how it works is you deposit a weeks worth of points into the RCI inventory essentially making a week available for someone who wants to trade in using RCI. Then you book a week somewhere else that you want to go. It's all based on availablility. Whether you want a 1, 2 or 3 bedroom room as well as time of year will dictate how many points you need to use to trade in. Assume that if you want a 1 bedroom somewhere else you will need to fork over enough points for a week in a 1 bedroom at DVC
GoofGoof
Premium Member
Everyone has different priorities and travel plans so there isn't any right or wrong answer to resale vs direct. This is just my personal opinion on what I plan to use my DVC for. My opinion on trading in is that you usually don't get great value in return. DVC is at the top of the food chain so when trading in you almost always get less value. For cruises and Disney hotel stays the point total is high especially if you compare it to the "cash rental" value of your points. As @EOD K9 stated you can always rent your points and then pay cash for whatever you wanted to trade in for. Its definitely more work then just trading the points in, but the cost savings can be significant. For the adventures by Disney you need to own a whole boat load of points to actually trade in for them. The trips look really cool, but I don't have nearly enough points to take advantage.
IMHO if you plan to trade in your DVC points frequently and maybe only visit WDW every other year you may be better off buying less points and banking and borrowing the points for stays at DVC. In your off years either buy a cheaper timeshare to use off property or just pay cash for hotel nights. For the once in a lifetime trip to Disneyland Paris or Tokyo it would be nice for me to be able to trade in my DVC points for a stay at a Disney hotel there, but I wouldn't trade in frequent enough to make it worth the extra cost.
IMHO if you plan to trade in your DVC points frequently and maybe only visit WDW every other year you may be better off buying less points and banking and borrowing the points for stays at DVC. In your off years either buy a cheaper timeshare to use off property or just pay cash for hotel nights. For the once in a lifetime trip to Disneyland Paris or Tokyo it would be nice for me to be able to trade in my DVC points for a stay at a Disney hotel there, but I wouldn't trade in frequent enough to make it worth the extra cost.
My feeling too but GF is High $$$. remember there is Hilton Head Aulani and vero beech along with rci and Cruise line. If you buy resale you loose some flex but save $$$
Phonedave
Well-Known Member
Same advice I give. The ability to use points for cruises, etc is a nice perk, but it is not the best way to use a DVC contract. Renting your points and using the cash pays better.
I used points for a cruise once. I receive a bunch of developer points when I bought. I had to use them within a few months. I bought in early July and had to use them by September I think. My plan was to get a villa and have family and friends stay for free. Turns out nobody could make the trip. So I said "the heck with you all" and my kids and I used them for a cruise.
Now we seem to be in the "every other year" mode, and it works out nicely. It lets us get a 1BR (for the space) when we go as a family, and on the off years there are enough points left over for a F&W weeked studio for my wife and myself. I like every other year mode.
-dave