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Thread: Several questions.....

  1. #1

    Several questions.....

    Hi. I apologise up front if my questions are going to appear 'obvious' to DVC experts, I guess they will. If I say that I come from the perspective that I actually booked a day off work to sit at the lap top and try and understand DVC and have only just (I think), wrapped my head around the most very basic principles perhaps you will all bear with me......

    Am I correct that you pay an up front cost and then annual dues for a (long) period of time, based on a set number of points, a minimum of 160.

    Does anyone have any information on that up front cost? I cannot find anything more recent than a 2008 example.

    Which resorts are still selling new?

    Where is the best place to go to see the cost of annual dues per point (I have no idea if that is the right language) for 2013.

    Where are the reputable places to buy resales from? It seems to me that this is just a better financial option. I am aware, I think, of the disincentives about fewer benefits and less none Disney resort to stay at, but I am only consdiering this for WDW holidays so I think that's probably a none issue for me.

    Some principles I think will give helpful perspective about my personal circumstances. I think I can afford to pay the up front cost without borrowing, but without having an accurate account of what this is I can't be sure. My plan to use a DVC would be for a 14 day holiday every other year. I am a little unclear what my annual costs would be as I am not sure I have properly understood the annual dues/points relationship. I am thinking that I buy 'x' points per year, the cost of which goes up, and these are the annual dues. I think we would need a minimum of 270 points bi-annually to stay for 2 weeks, so 135 per year, but this is where I go into head mash as this seems to be less than the minimum buy in.

    Please assume I know nothing, be patient, and offer any advice you can.

    Thanks

     

    If no-one out there understands, start your own revolution and cut out the middle man (Billy Bragg)

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  3. #2
    It's a treasure-we found it together
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    Yes- you pay a price per point upfront and then dues forever, well, or the 40 years of ownership. We bought Aulani at, I believe, $102/pt almost a year ago. I think the rack rate was around $120 and they were offering a "special." Our dues were around $700, I believe, for 220pts. I just watched the Samantha Brown video and for the life of me I can not remember the price per point right now. I want to say $130- but it varies based on resort, BLT (at the Contemporary is selling higher if it isn't sold out by now).

    Aulani, Animal Kingdom, Saratoga Springs and maybe Bay Lake Towers are selling right now. They have started building at Grand Flordian, but those are not for sale yet. The contract lengths are shorter though for AKV and SS because they have been for sale for a while now.

    Resale is probably a good option for you, since you will be using it only for WDW and you likely don't need 160 pts. Now, when you looked at the points to get your 270, did that take into consideration time of year and room size? I assume it did, but we like 1 bedrooms and I am a teacher, so we can only travel certain times, so I had to take that into account.

    I peruse The Timeshare Store every once in a while! Buy where you would like to stay most often. You can stay at other places, but you have a booking advantage at your home resort. I sort of wish we would have looked more into buying resale at the Grand Californian instead of Aulani, but so far, I have not had much trouble booking GCV as long as I do so right at 7 months and am patient with waitlists. This is less of an issue with the Florida properties though, as far as I can tell.

    Hopefully someone else will pop in to answer more questions. The tour at the park is very low pressure, so if you are still considering it during your next trip, it will be worth going on.

    Why do people go on The Amazing Race without bothering to learn how to drive a stick shift?

  4. #3

    So I pay a one off (high) price per set number of points, then annual dues at a much lesser price per same number of points for the length of the contract? If I've got that right I can get busy with a spread sheet once I know the costs. Thank you.

     

    If no-one out there understands, start your own revolution and cut out the middle man (Billy Bragg)

  5. #4
    Ready for MA World Explorers! Drince88's Avatar
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    I found this history of the dues per point.

    I looked at the points (here) for a week during Magic Season (summer, mostly - due to the age of your children) at Beach Club Villas for a 1 BDRM - and 1 week was 269.
    That may be on the high side, but I know how much your DS and DD are going to love Stormalong Bay and especially as they get older, I'm thinking you might be happier with a 1 bedroom vs a studio for your two week+ trip. BUT, then again, you can also add on points as they get older and if you decide the larger unit is better for you.

    I know when I tried to book the cheapest studios at Boardwalk Villas a few years back when I rented point, they were not available -- they were very hard to get unless that was your home resort (and even then, fairly hard to get), so don't count on being able to book the least expensive room at even your home resort every time.

    I do think you should take the time on your upcoming holiday to tour the units and ask some questions, particularly about buying directly from Disney.

    ETA: Just saw your post. Yes, you pay (in Mermaid's case) $102 per point up front, and then every year after you pay the amount per point in that first link.

    Cathy

  6. #5

    You are correct that initial buy-in through Disney is 160 points minimum. I have heard that this might not be the case, need to check on that. I have also heard that people from the UK, Canada and other countries cannot buy direct unless you are on property, need to check on that too.

    The only properties Disney is selling these days are AKV and Aulani. I believe BLT is still available but there are no real incentives, $155 per point minus $10 if you buy the minimum. There is a decent incentive for AKV and Aulani currently. New member purchase is 20 free points every year for every 100 points bought. Of course you will be required to pay yearly dues on those 20 extra points but you will not have to pay upfront for them. AVK is selling for $125 per point and 2012 dues are $5.44 per point. If you bought AKV at that price it would be $12,500 and the dues this year would be $652.80. I hear Disney is charging closing costs but not sure how much they would be. Disney does offer financing but it is high. You could arrange your own financing. Oh, and when you buy from Disney they usually give you last years' points, so if you buy 200 points you would have 400 points to start with.

    Resale is a whole lot cheaper but it does take 2 months or longer to complete the process. We are trying to close on a 150 SSR with all 2011 points, all 2012 points and all forward. We paid $53.33 per point ($8000, paid 2012 MFs (dues $711) and closing costs ($423.64) for a total of $9134.64. Now if we had bought direct from Disney up front cost would have been $15,750 and we still would have to pay dues and possibly some closing costs, at least $16,500. We also have 310 points at BLT ($4.23 pp) and our dues for 2012 are $1311.30. You can pay those in a lump sum every January or pay them monthly through direct withdrawal from your checking account. I have heard that DVC owners from the UK set up an account at a Florida bank to pay their MFs.

    I know this is a lot of information to absorb. If you want to look at pricing go to DVCNews.com. I find dues information going to The Timeshare Store site, they list the current dues of all the resorts. They have a complete listing of all their resales. Fidelity resales seem to be cheaper as prices seem more negotiable. I understand that Disney gives Fidelity their forclosures to resell. You CAN offer less than asking price.

    I hope this helps. Have fun looking. And definately take the tour next time you are at WDW. If you would like the name of our guide I would gladly provide it. Not pushy at all, wonderful guy.


  7. #6

    If you would like a super neat point calculator go to David's Disney Vacation Club Rentals. http://www.dvcrequest.com/point_calculator.asp His site has a calculator that shows you how many points you would need for any resort in every season for how ever long you want. It's an invaluable planning tool. Actually, you may even consider renting points from David and sampling what you might like. The site will explain everything. http://www.dvcrequest.com/


  8. #7

    Thanks all that's very helpful. Some quick maths shows over the course of 40 years, if we took 20 two week trips, we would save a small fortune. DH not yet 'in' though!

     

    If no-one out there understands, start your own revolution and cut out the middle man (Billy Bragg)

  9. #8

    You are very welcome. Understand about your DH's reluctance.

    Don't you, in the UK, get awesome deals and packages? People in the US can't get 14 day tickets, for instance. I forgot to mention that as DVC owners, we get no free dining, ever. Oh, sometimes people do make cash reservations just to take advantage of the offers but as most will tell you, free dining is not free. They make you pay full rack rates for the room. You can check out those rates at Mousesavers.com. You can purchase the Disney Dining Plan (DDP). As DVC members we don't get any break on park tickets either except we do get $100 off annual passes. As you would expect, prices go up slightly every year.

    I know you mentioned that you would come for 14 days/nights. Would that be in a studio? If you got at least a 1 bedroom you would have a full kitchen and laundry. How many children would be travelling with you and how old? Those sofa sleepers get mixed reviews. The kitchen alone could save you dining dollars. A recent developement is that as DVC members we can now purchase the Tables in Wonderland card (TIW). I used to only be offered to Florida residents for $100 and $75 to Annual Pass (AP) holders. TIW saves you 20% off your meals but there is a 18% mandatory gratuity added before the discount but you are taxed after the discount. I know it's confusing but it works, really it does. It's just awesome!! The only rub there is that while TIW is accepted at almost all table service places, it is accepted at few quick/counter service locations. Very few. You can get a full explanation at Allears.net.

    You should know about your Use Year (UY) too. You can choose your UY depending on what time of year you will be travelling. Some say it doesn't matter. Just keep in mind that if you buy mulitple contracts it does help to keep the same UY.

    And banking!! If you have any left over points you must bank them by a dealine pertaining to your UY. For instance, we have a Feb UY. Our banking deadline is Sept 30 every year. If leftover points are not banked into the next year then they will expire Jan 31 of the next year. You have to bank those points into the next year to be able to use them in the next year. I know, it's so confusing but the more you learn the easier it gets.

    You just have to do the math and decide if this could actually save you significant $$ over the next 40 years. I would certainly compare it against the packages you can get because you would still have travel costs.

    Sorry if this is too much information. Just want to help. I sure wish I had known about all these message boards to learn about the particulars before we took the plunge. Learn as much as you can and be an informed buyer. Such as DVC owners don't pay FL taxes on accomodations, yet another form of savings.

    If you have any more questions feel free to ask. I'm sure others will chime in with more info.


  10. #9

    Another good rule of thumb is to buy where you want to stay. If you NEED to stay at BLT or BCV you probably should own there especially if you want to go at peak times or F&W. If you aren't really picky about where you stay go for the least expensive resorts to buy. SSR and OKW are great choices (if you don't mind the condo style) AKV usually has good availability. If you love the Boardwalk area BWV prices are pretty low (resale) but take into account that their MFs are the highest on property.


  11. #10
    CL--DLR Trip Planning and DVC Toocherie's Avatar
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    My advice would be to study up as much as you can before you tour. I actually knew as much as my guide when I bought--I had already made the decision when I walked in and knew the pros and cons--he just wrote up the contract.

    just to summarize what everyone else has said: you pay a certain dollar amount per point to buy in; generally the minimum for a new buyer is 160 points. Thereafter you have annual maintenance fees that are different for each resort (some higher some lower).

    You need to decide what your vacation style would be (studio, one bedroom, two bedroom?) and when you are most likely to go. Remember that the points charts CAN (and have) changed from time to time. The charts also change every year to account for busy times like the US's Spring Break period. So even if you have enough points this year for what you need, it may not be enough for next year for the exact same dates.

    You can "borrow" and "bank" your points. Let's say you buy the minimum of 160 points this year, but are not going to WDW this year. You can bank all of your 160 points to your 2013 use year for a total of 320 points you would have in 2013. (You could also bank just a portion of those points). You could also borrow your 2014 points (or a portion) into 2013 in which event you could have 480 points in 2013 (but then you would not have any points until 2015--make sense?)

    DVC is pretty flexible in having the points system--you are not "tied" to a particular week or unit size. I've stayed in everything from a studio to a 2-bedroom so far depending on the occasion and who I'm with. (Haven't stayed in a Grand Villa--yet!)

    "Let me never fall into the vulgar mistake of dreaming that I am persecuted whenever I am contradicted." -- Ralph Waldo Emerson

  12. #11
    Adrienne Vincent-Phoenix
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    My husband wrote a very thorough analysis of DVC, which may answer some of your questions:

    http://www.mouseplanet.com/7289/Buying_DVC

    AVP

    If you're the smartest person in the room, you're in the wrong room.

    MousePlanet CEO, writer and photographer. Foster and Adoptive Mom. Owner of MouseShoppe and CharmingShoppe. Long-distance walker. Not in that order. In my spare time, I try to sleep.

  13. #12

    Just to round this off we are not buying. If I only had to travel from within the US it would be a no brainer, but the ever rising flight prices from the UK and the fact we should have really done this a decade ago have swung the decision. Bummer


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