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Started By
Message
Disney Vacation Club. Pro's vs Con's
Posted on 9/20/12 at 8:08 am
Posted on 9/20/12 at 8:08 am
Hello all.
Family is looking into a few potential Time Share investments. Right now, DVC seems to be the best. We're also about to look into Wyndham's time share.
Here is what we're seeing for DVC.
Disney Vacation Club
Costs:
One-Time Purchase Price:$21,600
Closing Costs:Approximately $269.70
2012 Annual Dues: $869.70 or $72.47 per month
Avg is 150 points/year
Pro's
-Points Based ( personal opinion )
-Most, avg, places are averaging 10-15 pts/night
-Not told when or where to stay
-no black out dates
-500 locations world wide
-Huge Discounts for Park Tickets
-Can bank points from future years
-Rollover points
-Personal Vacation Planner. One who you will use enough to where they understand you. *free
-Can use points to Cruise
-Can easily add on as your family grows
-Free Wifi at every location
-Ownership is Cost Effective
-Home Appliances in every condo
-You can sell your points to other people (DVC member or not)
Cons
-You're limited to where you can spend your points at non-Disney locations.
-Monthly Maintenance Fees
-You have to Plan WAY ahead to even stay at your home resort
- Pretty much, you're locked into going to Disney for the next 50 years.
- After 50 years, you're no longer a member
I cant think of any more
What are your thoughts?
Family is looking into a few potential Time Share investments. Right now, DVC seems to be the best. We're also about to look into Wyndham's time share.
Here is what we're seeing for DVC.
Disney Vacation Club
Costs:
One-Time Purchase Price:$21,600
Closing Costs:Approximately $269.70
2012 Annual Dues: $869.70 or $72.47 per month
Avg is 150 points/year
Pro's
-Points Based ( personal opinion )
-Most, avg, places are averaging 10-15 pts/night
-Not told when or where to stay
-no black out dates
-500 locations world wide
-Huge Discounts for Park Tickets
-Can bank points from future years
-Rollover points
-Personal Vacation Planner. One who you will use enough to where they understand you. *free
-Can use points to Cruise
-Can easily add on as your family grows
-Free Wifi at every location
-Ownership is Cost Effective
-Home Appliances in every condo
-You can sell your points to other people (DVC member or not)
Cons
-You're limited to where you can spend your points at non-Disney locations.
-Monthly Maintenance Fees
-You have to Plan WAY ahead to even stay at your home resort
- Pretty much, you're locked into going to Disney for the next 50 years.
- After 50 years, you're no longer a member
I cant think of any more
What are your thoughts?
11
Posted on 9/20/12 at 8:22 am to TigerDik86
I think you can do MUCH better than that with DVC.. Might want to check out the DIS boards for more info. There are many people that sell their contracts. There are many times where you can get it for $55 a point.
$21k is way too much even if buying from them you should be able to easily talk them down from $144 a point.
for future years??
FWIW I dont find any of Disney's Deluxe resorts to truely be 5 star quality. They are just convenient when going there. The rooms all have a motel 6 feel to them. The Wyndham Bonnet Creek is nice but if you tour they show you the expensive ones not the standard condos. Overall I dont care for any timeshare though and I travel a lot. I just find Im save more money finding my own deals.
$21k is way too much even if buying from them you should be able to easily talk them down from $144 a point.
quote:
-Can bank points from future years
for future years??
FWIW I dont find any of Disney's Deluxe resorts to truely be 5 star quality. They are just convenient when going there. The rooms all have a motel 6 feel to them. The Wyndham Bonnet Creek is nice but if you tour they show you the expensive ones not the standard condos. Overall I dont care for any timeshare though and I travel a lot. I just find Im save more money finding my own deals.
Posted on 9/20/12 at 8:50 am to TigerDik86
Check out the DVC resales. You can find some good deals with people selling their contracts.
My wife and I have been pondering DVC membership, since we go every year. We're going to rent DVC points next trip to see how it works.
My wife and I have been pondering DVC membership, since we go every year. We're going to rent DVC points next trip to see how it works.
Posted on 9/20/12 at 9:09 am to TigerDik86
To me, DVC is a lot like the dining plan. You can make the numbers work if you were planning on spending your vacation that way anyway, but deviate at all, you are losing money.
I like flexibility too much for either of these options.
I like flexibility too much for either of these options.
Posted on 9/20/12 at 9:28 am to CoolHand
Dont forget that there is about a $5 per point yearly fee as well. So you get 150 points then you still pay out $750 every year just to be a member. That amount can go up as well.
I think I would just rather rent the points and have flexibility.
I think I would just rather rent the points and have flexibility.
Posted on 9/20/12 at 10:41 am to TigerDik86
quote:
you're locked into going to Disney for the next 50 years.
May also want to consider this aspect. 50 years is a long time...
Posted on 9/20/12 at 11:02 am to TigerDik86
I am a DVC member and I believe Broke is also. Absolutely love it!!!
We discussed this plenty before. Please do a google search for that thread. Hopefully it will help you. I do not have time to go over it all again now. However.........quickly
there are TONS of locations all over the world you can use these points. Some Disney, some non Disney. regardless Disney alone has enough.
most of the time you should if you can....however,not necessarily all the time. Depends which one it is. I have TWO home resorts. Boardwalk and Saratoga Springs. I can get into Saratoga last minute and have done it plenty times. you can get into others by getting on the wait list if you did not make ressies months in advance. tough but still worth a shot.
Also, remember this when doing your calculations on the timeshare price. run what it would cost as a non DVCer and as a DVCer for a week at a certain time in a certain type room/rooms. big difference.
Also you do get a deed for a piece of property with DVC. not all timeshares do that last i checked.
and one last thing.....make sure you know about banking, borrowing and selling in case you cannot make it a certain year, etc.
We discussed this plenty before. Please do a google search for that thread. Hopefully it will help you. I do not have time to go over it all again now. However.........quickly
quote:
You're limited to where you can spend your points at non-Disney locations.
there are TONS of locations all over the world you can use these points. Some Disney, some non Disney. regardless Disney alone has enough.
quote:
You have to Plan WAY ahead to even stay at your home resort
most of the time you should if you can....however,not necessarily all the time. Depends which one it is. I have TWO home resorts. Boardwalk and Saratoga Springs. I can get into Saratoga last minute and have done it plenty times. you can get into others by getting on the wait list if you did not make ressies months in advance. tough but still worth a shot.
Also, remember this when doing your calculations on the timeshare price. run what it would cost as a non DVCer and as a DVCer for a week at a certain time in a certain type room/rooms. big difference.
Also you do get a deed for a piece of property with DVC. not all timeshares do that last i checked.
and one last thing.....make sure you know about banking, borrowing and selling in case you cannot make it a certain year, etc.
This post was edited on 9/20/12 at 11:27 am
Posted on 9/20/12 at 12:32 pm to Catman88
quote:
There are many people that sell their contracts. There are many times where you can get it for $55 a point.
The only drawback to this is that I believe Disney announced that they were limiting some of the ownership benefits if you purchased your DVC contract from a third party. I'll look around a little more to see if I can find out more info.
ETA: They briefly mention a limitation for third party contract purchasers HERE.
This post was edited on 9/20/12 at 12:35 pm
Posted on 9/20/12 at 12:51 pm to GeauxColonels
We have Marriott and really enjoy it. My mom works all day every day and having a week planned ahead of time and easily is nice for her.
Posted on 9/20/12 at 1:07 pm to GeauxColonels
Yea it doesnt take away enough to warrant paying 2x the cost though. If you saved 10k on the initial purchase then thats 2.5 Disney Cruises for a family of 4 that would have eaten up the equivalent of 5 years of points alone. Thats not worth it.
This post was edited on 9/20/12 at 1:08 pm
Posted on 9/20/12 at 3:40 pm to Catman88
I bought a fixed week at Wyndam Pagosa through a re-seller for $1295 plus fees for a total of about $1800 three years ago. It is a red week and I have swapped it for weeks in Gatlinburg and Branson. The price of DVC turned me off and I have a deeded property that is transferrable and never expires. Works for me. My sister has DVC that she likes. To each his own...
Posted on 9/20/12 at 4:31 pm to Fat Bastard
quote:
and I believe Broke is also
Broke is. I love it. I paid like $8500 for 100 points per year. No way I would pay $22,000 for 150 points per year. It's awesome. I've never NOT gotten the rooms that I've wanted. Even last minute.
Posted on 9/20/12 at 5:10 pm to TigerDik86
We've gone every October for the past two years and stayed at the Omni Champions gate golf resort at the government rate of around $120 a night. Nice resort, and close enough to Disney for me. I think October is the best time to go--not so hot where you sweat your arse off, but warm enough to swim. And you can hit up Mickeys not so scary Halloween event, which is typically less crowded and cheaper than a regular day at Disney. I just couldn't imagine a timeshare being a sound investment, but I have heard that Disney is the best program.
Posted on 9/20/12 at 7:21 pm to TigerDik86
I can't speak on costs, but my parents got in around 95-96 when it was really affordable. It's worked out wonderfully for me because they never travel. It's really weird. But anyhow, they let my wife and I use it almost yearly. We've done NYC three times, Cabo San Lucas, Disney World twice and are looking in to San Francisco next year.
We trade off all the time. For my parents and us, it's perfect.
We trade off all the time. For my parents and us, it's perfect.
Posted on 9/20/12 at 8:17 pm to Broke
quote:
Broke is. I love it. I paid like $8500 for 100 points per year. No way I would pay $22,000 for 150 points per year. It's awesome. I've never NOT gotten the rooms that I've wanted. Even last minute.
we bought in back in 1998 when it was MUCH cheaper as well. We have 360 points annually now. I sold some awhile back as I did not need 400 plus anymore.
Posted on 9/21/12 at 1:31 am to TigerDik86
not a fan of timeshares, buy a condo and rent it out, you decide when you use it and you get rental revenue to cover the discounts you would get with DVC
Posted on 9/21/12 at 7:59 am to joejohnson90
quote:
not a fan of timeshares
Me neither, but the Disney Vacation Club is a little different animal that your standard timeshare.
Posted on 9/21/12 at 3:00 pm to joejohnson90
quote:
not a fan of timeshares
to each his own. share your experiences.
quote:
buy a condo and rent it out, you decide when you use it and you get rental revenue to cover the discounts you would get with DVC
Was there not a thread the other day saying avoid condos for different reasons? How do you know they will get a good rate on property management being from out of state? How do you know they will get a good deal and get positive cash flow? How do you know it will have enough tenants especially since it will be off property? Again, share your experiences with us on this. We would love to hear them.
This post was edited on 9/21/12 at 3:34 pm
Posted on 9/23/12 at 3:04 pm to TigerDik86
Anyone know anything about Exclusive Resorts. Close friend is a member. We have been on several trips with them. Even OT ballets would be impressed.Fabalous properties all over the world.
Posted on 9/23/12 at 7:55 pm to TigerDik86
My thought is that if I ever advise someone to "invest" in a time share, I should be disqualified from posting on this board for the next 50 years.
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