Help with buying a DVC

[tbrutts]

we are thinking about buying one. should we go throuhg Disney or Resales and if going through resales want don't you get going through Disney. Who is best resales site people whom have a DVC do you like it ? We just be came first time grandparents and thinking on having one that we all can stay in biggeer unit without paying top dollars. and that other members of faimly can use it too. Is wrong in thinking that Help

[MichaelColey]

DVC is still VERY expensive, even through resales. For the cheaper properties, you'll pay about $50 per point and $5 per point in MFs (and it'll only go up from there). For a 2BR unit, it's usually 300+ points (and more during peak seasons), so you're talking $15,000 upfront (for enough points to stay one week per year) plus $1500 per year. If you figure a 5% opportunity cost of your upfront expenses, that makes each week $2250, or $300+ per night. If you're looking for a 3BR (and those can be VERY hard to book), it's 2-3 times the cost.

Compare that with off-site timeshares, where you can stay at very nice resorts for 1/4 to 1/2 the price.

I would definitely recommend resale versus buying direct, though. The upfront costs are about half as much, and the only perks you lose are ones that aren't cost effective anyway.

[mdsd8700]

There is a lot to learn about DVC and it is important that you really research all aspects before you purchase. We love our DVC and bought direct but would only go the resale route now if we did an add-on. It is very expensive purchase and really is only a way to prepay your hotel costs for next 40-50 years depending on the home resort you choose. There of course is the yearly maintenance fees as well. Among the things to consider are Use Year which is when you would get your yearly allotment of vacation points. The understanding of how banking/borrowing works with these points and with the Use Year you have. The ability to plan far out is best. Home resort (where you would own your points) gets to reserve 11 months out from date of travel all other resorts are 7 months (where you don't own). Many resorts and room types especially at certain times of the year book up quickly. If you can't plan far ahead you most likely will not get what you are looking for. Although generally something should always be available. Resales have been slightly restricted but nothing that really seems to make much difference to the owners.

You can let your family/friends use your points even if you are not with them. However you would have to make the reservation and be in charge of it. No one else but the owner has access to the reservation information and Disney will only speak to the owner.

There are several reputable resale companies The Timeshare Store probably being the most popular and well known. I know a few here have purchased resale I am sure they can chime into which company they used.

I know others will post and give you advice as well. These were just things I thought of off the top of my head. The key is research and asking and learning as much as you can about the DVC. We absolutely love our DVC and are thrilled with the purchase but with that being said it definately isn't for everyone, even if you love Disney and plan on going every year it isn't always a good match. I wouldn't recommend it to anyone without them first giving it a long hard look to see if it fits the needs of their family.

[bnoble]

There is a lot to learn about DVC and it is important that you really research all aspects before you purchase.

I second this. I know you're excited about the prospect of vacationing with your new grandchildren, but it is really important to take your time, and read read read.

[MichaelColey]

One thing I recommend to anyone considering a timeshare purchase is this...

Before you even think about purchasing, rent a unit from an owner and stay there for a week. Then rent a week somewhere else and stay there for a week. Compare the costs and what you get. You wouldn't buy a car without even seeing it, much less taking a test drive. And timeshares are far trickier to buy than cars.

You might love it. You might hate it and rather just stick with hotels. You might like DVC enough that it's worth the substantial additional cost. You might like off site timeshares even better. Or you might like DVC only a little better and find off site timeshares to be best for you. (I'm in the last group.)

Then, after you've figured out what you want, go into learning mode. Read everything you can here, on TUGBBS.com (a great forum for timeshare owners) and MouseOwners.com (a DVC-specific forum). A timeshare is a signficiant investment, and it makes a HUGE difference what you buy and how you buy it.

[zmanandshan]

I apologize for the forthecoming long-winded answer. Since I was a kid, we stayed off site. My parents could not afford to stay on property. And what we didnt know didnt bother us. Even being small, I remember the toll-lines, the tram lines, long walks in/out of the gates, etc, but who cares, we were at Disney, right!. Before my wife and I got married, we stayed offsite too. As both our careers grew and when our oldest son was 2, we jumped to a lower priced deluxe resort (Wilderness Lodge) in 2008. We realized then, we'd never go back offsite. We talked to a DVC salesman at the resort, but didnt feel it was the right time to buy-in. I never believed in the whole timeshare thing at all. I dropped it for a while, then started looking into it again when my second son was born. I researched it and after weighing the pros & cons, finally determined it was good for our family.
1. Flexibility - point system was great for us, instead of being tied down to a certain week or season. Also the ability to stay in a studio, one, two or larger accomodation, ability to use it not just in Orlando, etc. Banking & Borrowing, etc.
2. It's Disney - Safer than some of the other fly-by-night timeshares which quickly depreciate in value. Properties are well-maintained, safe, and managed well (some may disagree and Disney is not perfect, but I'd they would be considered close to best in class as compared with other timeshare companies).
3. Our Demographics: Two young kids and both of us who love Disney - we will enjoy it for years.
4. We can afford it. Both the upfront fee and maintenance.
5. Advantages of staying close to the action. (although not guarranteed, the Magic Express, use of the Disney Transit, etc)
6. With both of us having careers, it forces us to take time off for our family. Planning far in advance isnt always convenient, but for us is pefectly acceptable
7. Ability to take others with us, or allow others to use our points: Since we joined in 2010, we will be taking our 3rd trip next week on the DVC. We took my parents the first time, and will be taking friends this time. It's a great way to share the magic with others.

Cons:
1. It is a significant investment, and one which must be thought through very carefully.
2. Exchanges for non-DVC trips are not worth it and shouldnt be purchased to go on cruises, exchange through RCI, etc. You are making a committment to go to Disney at least every other year. There are some opportunities to rent points, but it could be risky and is not condoned by Disney. You can bank and borrow to make better use of DVC by buying less points. (Ie, a 50-point investment can be stretched pretty far as long as you dont need to return annually).
3. Lodging is accounted for, everything else is not. So still need to purchase Tickets, Meals, etc unless you stay at Aulani, Hilton Head, Vero Beach.
4. Disney Burn-Out. Would my kids not want to go back after some time? or us?
5. It's hard to take a an adhoc trip. It must be planned months in advance, and during busy times, 11 months in advance, but only for your resort. Example, if you want a 2BR at Beach Club for Food and Wine Fest but don't own there, it will probably not be possible.

Overall, the pros outweighed the cons for us. We are happy owners for now, but it is still early to tell. We bought Re-sale and would do it again. We used Timeshare Store and they were great and the process went very smoothly. The price difference was just too great to go through Disney.

Good Luck with your decision,
John