I have always been interested in this and I am not sure exactly how this works and what the costs are...Can anyone enlighten me?
I have always been interested in this and I am not sure exactly how this works and what the costs are...Can anyone enlighten me?
Pop Century Jan. 2009 -- CBR Turkey Day 2007 -- All Star Music Oct 2006-- Offsite New Years Eve 2001 -- All Star Sports X-Mas 1997 -- DL Regular (Passholder)
A complete dissertation here would be to long, a search of MP will find a host of articles that will enlighten. but here are the extreme basics
Disney owns a series of resorts that are in essence time share condos. people purchase shares of the time share through Disney or other sources when a person buys these points they become DVC owners.
the points are sold at specific DVC resorts which becomes the "home resort" of the owner.
the points purchased are used for staying at the DVC properties as well as a host of other locations world wide. the amount of points used for a given stay depends on the size of room (ranging from a studio to a three bedroom that sleeps 12) the time of year of the stay, and the location. the points purchased are renewed each year at the start of a use year, they may be banked for a year or borrowed from the next year... like this.
I own 150pts at OKW resort. my use year starts in March. I wish to stay in a one bedroom condo someplace in WDW in May. the points it will cost me for 5 nights during the week is (made up no for discussion) 120pts. so I now have 30 points that I then ask to be banked to the next year. the next year I decide I want to visit in Oct in a 2 bedroom at the BWV. I have available to me 150pts from that use year + the 30pts I banked. but my stay costs 230pts. so I borrow 50pts from my next use year (leaving only 100pts for that year).
think of it as a prepaid vacation program, a hedge against inflation as it were. 150pts will at the minimum guarantee a week at WDW every year until the DVC ownership expires (2047?) and the cost is the one time cost of the points, currently around $105/pt plus the taxes and dues
there is a LOT more to this, and I'm sure someone like Tony will link this to the perfect article written by one of the genius writers here that will make you want to run out and buy one. one thing is for sure, I have yet to meet a DVC owner that is sorry they bought in.
Grateful for all God has done for me, and for having Wfoxx by my side.
Here is the link to the article that Tony wrote about buying into the DVC.
Here is another link to a article that Tony wrote that included a spreadsheet that is helpful in determining overall DVC costs. (VERY helpful in my opinion.)
Being a recent addition to the DVC family, I will admit that when we started looking into it a few years back, I thought two things. 1)That it could not be as good as they advertise it to be and 2)The costs were just way too high. The fact is that since we started going to Disney for our annual (or more frequent) vacations, if we would have put the money spent in renting hotel rooms into what the DVC costs, it could have been 1/2 paid for by now. What did that tell me? That in a few years, for around the same money I spend now on a Disney vacation, I will have paid off the purchase price and watch my vacation costs drop dramatically.
As for the first item that I mentioned - that it could not be as good as they say - well, I rented points from a member for a 2 BR suite a while back and found that the accommodations were top notch. It was after that the wife and I started looking into the program more seriously. Through reading the DVC material and talking with other members, the flexibility and value ranked very high.
In my opinion, if someone is interested in doing annual Disney vacations, or would like to have the option of using their points for other vacation adventures, its worth looking into.
The search function is like the Force. It may take practice, but the more you use it, the more control you will have over it!
In the past couple of years we found ourselves going to Disney World at least once a year. I started looking into the DVC over a year ago, and I rented points last August and we stayed for five nights at a studio at OKW. While there, I did the tour. I've always heard horror stories about high pressure timeshare sales. I went without my husband, and took a four year old with me for the tour. The DVC reps did not pressure me at all, had no problem with the fact that I was clearly not going to commit without my husband present, and could not have been more gracious. They called a van for me, made sure there was a kiddie seat for my child, and brought out umbrellas to walk between buildings in the rain. At the end of the presentation, they give you lots of information, offer you ice cream, and provide you with a van ride back to your own resort. At home, I tried hard to find negative opinions, or reported problems with ownership, and found none, for a family in our situation. It just made sense for us, and we were in the financial position to do it. We handled everything by phone and mail, and Disney had no problem with our decision to arrange our own financing (we refinanced our mortgage, and can deduct the interest). We are in our first "official" vacation as DVC owners, and it is just wonderful. We did five nights at a one-bedroom at Saratoga Springs, and we loved having the extra room and privacy. We all loved the jacuzzi tub in our unit. It has all the amenities of a Deluxe resort, and all the wonderful Disney customer service. You don't get daily maid service, unless you pay extra, but we really did not need it. Yesterday, we checked out of SS, and "hopped" to Beach Club Villas. Bell services moved our luggage for us. We have a studio for two nights, which is basically a nice hotel room, but the cash outlay for a room at this hotel would be quite a bit, so it's worth the points. We are having a blast at Stormalong Bay, which is like a water park, but much cleaner and nicer. My husband keeps saying what a great decision this was for us.
So glad you're enjoying your investment - Welcome Home!
Now planning my 40th WDW trip =D -- Saratoga Springs and BLT DVC Member!
efoxx, you said that 150 pts will guarantee a week at WDW.... what if they raise the point value for the stays? Can they? I guess I mean what if you buy 160 pts in 2008. In 2018 is it possible that that 160 points would only get you like 4 nights? Or, is there some sort of guarantee that you will get a week at your home resort? Does my question make any sense at all?
Also, what are the annual dues.... ballpark? Oh yeah, I am assuming that DVC ownership does not include parkhoppers, is that correct?
Why do people go on The Amazing Race without bothering to learn how to drive a stick shift?
The dues do not include passes, but DVC owners get a hefty discount on AP's (about $100 off). You should review the points charts, which you can access, through the allearsnet site (just click on the links under the accomodations section, for Home Away from Home resorts). You will see that points are charged per night or per week. You don't have to do a whole week at one time, and, unlike the "old" timeshare model, you do not commit to a particular week to vacation. The point expenditure for Sunday-Thursday is about half that of Friday or Saturday nights. Many owners opt to stay at a DVC unit on "low point" nights, and then, if they want to stay a weekend, hop to a resort hotel, or vice versa, to conserve points. As noted, we hopped to a smaller unit at a hotel-based DVC resort, which was less points. The number of points charged per night don't change, but the dates of each season might-someone will correct me if I'm wrong on that. A particular date could be put into another season, which would affect the points for that date, but it's pretty obvious that Christmas week is going to be more "expensive" point-wise than late August. The "seasons," do not necessarily match the hotel rate seasons. You can, with planning, use up to three years' points at once, if you banked one year's points, and borrowed the next. You might want to do this if you are, say, planning a family reunion and want to reserve several units, or a large unit, and you are willing to forgo two years of stays, or cut down on other usage, for the big event. For example, we used our points for a week in August, and I had 27 points "left," which I banked for next year. I just booked four nights in March, and the banked points were the first used, and then that year's allocation is used. I will want to book three days in June, after we return from our cruise. Right now, I could book at Saratoga Springs, our home resort, but I would rather spend those three nights at another DVC resort on property, so I have to wait until 7 months from my check out date. I'll request first, second, and third choices, and see what's available. I probably won't have enough points left from 2008 for a studio in June, even using the banked points, having used a lot for a 2 bedroom in March, but I can borrow some from 2009. I'd have to look up the current maintenance fees, but expect it to be several hundred dollars, the exact amount depends on the number of points you own. There are statutory limits on raising the fees.Originally Posted by Mermaid
Mermaid, To add to what Mom22gls mentioned:
The point values for a resort will not change. However, the "seasons" will change according to different holidays, etc. If a room is 10 points a night during a particular time of the year, it will always be that cost for that time of the year. To elaborate, the seasons Im referring to revolve around the dates of holidays such as Christmas, Easter, New Years, and other peak-crowd times. The good news is that the point matrix is usually made up a couple of years ahead of time so you can plan your vacation time accordingly.
This is a good online points chart that you can use to get an idea about how many points you would need for a stay. It will give you an idea of what I mean by "seasons."
At the same time, 160 points can get you a weeks stay and then some - if you stay at the right time in the right room. In fact, it will get you a studio for a week at most DVC resorts most times of the year. Some resorts require more points for the same stay. If you want a bigger room such as a 1 or 2 BR -that will require more points. Go during Christmas or Spring Break and it will cost you even more. These are all things to consider when choosing how many points for your initial purchase.
As for dues... it depends on two things... your home resort and how many points you have. For example... At the moment, the fees at Saratoga Springs is $4.12 per point. If you own the current minimum of 160 points, that means that your annual fees are going to be around $659 per year. Like owning any home, this may vary from year to year but historically has been less than the increase of the typical hotel room.
The search function is like the Force. It may take practice, but the more you use it, the more control you will have over it!
I forgot to mention another factor. When you stay at a hotel, your rate does not include local and state taxes, which can add quite a bit to the bill. When you stay at at DVC resort, no cash is involved for the room, and there are no sales taxes on the transaction. As far as financing, if you choose to take out a second mortgage on your home to finance the transaction, you can deduct the interest on your federal taxes (consider the long-term ramifications of this carefully, and consider consulting with a tax professional). You do not get full, daily maid service, unless you pay extra. On a five-day stay, they will give you fresh towels, take out your trash, and replenish your coffee packs, etc., I think you get full service again after six or seven days (not sure which), for a longer stay. I did not feel the need for a full daily cleaning. All common areas are clean and well-maintained, and the amenities are at a Deluxe level; in fact most of the DVC resorts on property are on the premises of Deluxe hotels (WL, AKL (now under construction), BC, and Boardwalk), and DVC guests share the same amenities as hotel guests. SS and OKW have a main, themed pool, and smaller, quiet pools, quick service and table service restaurants, and large gift shops, which include some grocery items.
Thanks guys!! That is a great chart Gus Man!
I am in the VERY preliminary stages of looking at DVC. It seems like a really good thing!
Why do people go on The Amazing Race without bothering to learn how to drive a stick shift?
The total yearly points allocated to a particular room type (i.e. studio) at a particular resort will remain constant over time. They can change the pts required on a per night basis but an increase here means a decrease there. For example...one weekday night in a studio in the middle of December could currently be 12 pts. DVC can increase this to 14 pts for the night but then then must decrease another night by 2 pts leaving the total yearly pts the same. I believe to date there has only been one such change and it was years ago.
Annual dues currently run between $4.12/pt and $4.75/pt depending on resort.
Park Hoppers are not included. Currently Annual Passes are offered at a discount for DVC members but this is a perk and can disappear at anytime.
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