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Disney Vacation Club - Need Some Help
Posted on 6/1/22 at 2:44 pm
Posted on 6/1/22 at 2:44 pm
We recently returned from a trip where we rented points to stay at Old Key West and Polynesian. The cost to rent points was cheaper than the cost (incl tax and parking) to stay at any value resort, and much cheaper than the cost to stay at any deluxe or moderate.
We had a great time. Our kids are a little older so we went at a slower pace and spent some time actually enjoying the resorts. When they were younger... we pushed them from rope drop to fireworks every day and jammed in character meals and went home. Now, they want to enjoy some rides, spend time at the pool and at the resorts, want more quick service meals, etc.
All that to say... we are starting to seriously look into becoming DVC Members. For those of you who are... or who looked into it and chose not to ... I have a few questions.
1) If you bought resale, what company did you use, and how was the experience?
2) What were the biggest factors in determining what resort to buy? Initial price, location, deed expiration, amenities, annual fees, etc?
3) How many points did you start off with? Have you bought more along the way? We are looking at 100-150 points to start... we don't have a need for the larger villas at this time. As the kids eventually start families of their own, that might be more of a consideration?
4) Did you finance the purchase? If so, through whom, and how was that? I'm struggling with the idea of tying up 25K plus cash in future vacation. At the same time... it looks like the companies that finance these things have interest rates that start at 9 percent which seems even more stupid. The fact that the interest is deductible provides little to no value to us.
5) Prices seem to have been moving steady upwards... is there any chance of a crash in prices if the economy continues to sputter? And if that happens... will Disney just exercise right of refusal on all those dumped contracts anyways?
Thanks for your help.
We had a great time. Our kids are a little older so we went at a slower pace and spent some time actually enjoying the resorts. When they were younger... we pushed them from rope drop to fireworks every day and jammed in character meals and went home. Now, they want to enjoy some rides, spend time at the pool and at the resorts, want more quick service meals, etc.
All that to say... we are starting to seriously look into becoming DVC Members. For those of you who are... or who looked into it and chose not to ... I have a few questions.
1) If you bought resale, what company did you use, and how was the experience?
2) What were the biggest factors in determining what resort to buy? Initial price, location, deed expiration, amenities, annual fees, etc?
3) How many points did you start off with? Have you bought more along the way? We are looking at 100-150 points to start... we don't have a need for the larger villas at this time. As the kids eventually start families of their own, that might be more of a consideration?
4) Did you finance the purchase? If so, through whom, and how was that? I'm struggling with the idea of tying up 25K plus cash in future vacation. At the same time... it looks like the companies that finance these things have interest rates that start at 9 percent which seems even more stupid. The fact that the interest is deductible provides little to no value to us.
5) Prices seem to have been moving steady upwards... is there any chance of a crash in prices if the economy continues to sputter? And if that happens... will Disney just exercise right of refusal on all those dumped contracts anyways?
Thanks for your help.
This post was edited on 6/1/22 at 2:45 pm
8
Posted on 6/1/22 at 3:11 pm to LSUFanHouston
We havent bought, almost did a couple of times but refuse to finance it and with both of my parents still alive, I don't want to let that much cash go right now in case I need a big sum on short notice.
That being said, our plan was to buy the smallest amount possible from Disney and supplement to get to a point total that we like from the re-sale market. That way we are considered direct owners from Disney but not at the highest dollar. So, our plan was to buy the smallest amount possible at the smallest $ amount possible that add at either Boardwalk or Beach club so we would be considered home owners there and could book those at 11 months since they are our favorite resorts.
So, in your case, with 150 minimum I would probably just buy 150 of the cheapest points I could then adding on as needed at the resorts I like the best.
That being said, our plan was to buy the smallest amount possible from Disney and supplement to get to a point total that we like from the re-sale market. That way we are considered direct owners from Disney but not at the highest dollar. So, our plan was to buy the smallest amount possible at the smallest $ amount possible that add at either Boardwalk or Beach club so we would be considered home owners there and could book those at 11 months since they are our favorite resorts.
So, in your case, with 150 minimum I would probably just buy 150 of the cheapest points I could then adding on as needed at the resorts I like the best.
Posted on 6/1/22 at 3:25 pm to LSUfan4444
quote:
That way we are considered direct owners from Disney but not at the highest dollar. So, our plan was to buy the smallest amount possible at the smallest $ amount possible
What's the smallest number you can buy from DVC directly? Looks like 150?
Other than discounts and the ability to use them on DCL... what other benefits are there for buying directly? From what I've read... even the older resorts are now at 200/pt direct from DVC.
Posted on 6/1/22 at 3:35 pm to LSUFanHouston
quote:
Did you finance the purchase? If so, through whom, and how was that? I'm struggling with the idea of tying up 25K plus cash in future vacation. At the same time... it looks like the companies that finance these things have interest rates that start at 9 percent which seems even more stupid. The fact that the interest is deductible provides little to no value to us.
Good god.
Start a college fund or something.. $25,000 for Disney???
Posted on 6/1/22 at 3:35 pm to LSUFanHouston
Yeah, it's up to 150 now. It was 50 when we looked.
Some of the benefits may not be important to you but buying direct from disney also allows you to use your points on Disney Cruise Line and VBD (Vacations by Disney) and resale does not. You can also use your points in California, Paris, Hong Kong or Tokyo.
There are some additional ticket, annual pass dining and merch discounts you can get buying direct from DVC you don't get when buying resale.
Some of the benefits may not be important to you but buying direct from disney also allows you to use your points on Disney Cruise Line and VBD (Vacations by Disney) and resale does not. You can also use your points in California, Paris, Hong Kong or Tokyo.
There are some additional ticket, annual pass dining and merch discounts you can get buying direct from DVC you don't get when buying resale.
Posted on 6/1/22 at 3:37 pm to Lawyered
quote:
Start a college fund or something
They have those.
quote:
$25,000 for Disney???
40 years of points.
Posted on 6/1/22 at 3:44 pm to LSUfan4444
quote:
Some of the benefits may not be important to you but buying direct from disney also allows you to use your points on Disney Cruise Line and VBD (Vacations by Disney) and resale does not. You can also use your points in California, Paris, Hong Kong or Tokyo.
There are some additional ticket, annual pass dining and merch discounts you can get buying direct from DVC you don't get when buying resale.
Gotcha.
Yeah... I'm struggling to find the value in those versus the higher initial purchase price. Especially since we don't know when the annual passes will resume sales and what those discounts will look like. Although if they bring back the sorcerer pass with the $400 pp discount... that's $1,600 a year... now we are talking.
Posted on 6/1/22 at 3:58 pm to LSUFanHouston
Definitely comes at a higher price point. The other caveat is, they can always add more restrictions whenever they want for those who do not buy direct. Who knows what that may mean as they try to steer more people to buy from them as the resale market continues to explode.
Like you, we've found alot of value in renting points. Not what it once was but still better than renting direct.
Like you, we've found alot of value in renting points. Not what it once was but still better than renting direct.
Posted on 6/1/22 at 4:13 pm to LSUFanHouston
1. We bought from Disney in 1993, before there was even a resale market. We were incentivized with free theme park tickets until 2000.
2. There was only one resort to buy then, OKW. We are still members and it is still one of our favorite resorts.
3. We started with 230 points and then we added 30 points, so we have 260 points. That is enough for a 2 bedroom one week stay during busy season.
4. Yes we financed it through Disney. We paid it off in 5 years or so. It was like carrying an extra car note.
5. I have never seen the prices come down or crash on DVC.
2. There was only one resort to buy then, OKW. We are still members and it is still one of our favorite resorts.
3. We started with 230 points and then we added 30 points, so we have 260 points. That is enough for a 2 bedroom one week stay during busy season.
4. Yes we financed it through Disney. We paid it off in 5 years or so. It was like carrying an extra car note.
5. I have never seen the prices come down or crash on DVC.
Posted on 6/1/22 at 4:24 pm to LSUFanHouston
Man, my wife and I have this conversation at least twice a year. We go a bunch. Our girls love it. My problem is we've been able to rent points for every trip and it's way cheaper than just about any other room on property. We get the advantages of the DVC rooms without the crazy cash down payment. We almost pulled the trigger on the Riviera Resort but I can't justify that $30K purchase price up front.
Posted on 6/1/22 at 5:09 pm to LSUfan4444
quote:
The other caveat is, they can always add more restrictions whenever they want for those who do not buy direct. Who knows what that may mean as they try to steer more people to buy from them as the resale market continues to explode.
Yup. To date... it seems like additional restrictions have only been made on a go-forward basis, not retroactive, but I'm not sure if they have the ability to go retroactive or not.
quote:
Like you, we've found alot of value in renting points.
COVID definitely dumped a lot of points on the market... especially from foreigners.
We paid $16/pt to rent.
I've been playing around with this website today. Basically at 16/pt renting is somewhat more than the average long term point cost of ownership. Not a ton more though... and there is flexibility in renting.
LINK
Posted on 6/2/22 at 7:35 am to LSUFanHouston
As a former DVC owner, here's my take:
-no one has mentioned the assessments and the fact they can be fairly large and never decrease. Only increase.
-Disney is still very popular, and like me, you will probably be able to sell it for more than you paid as Disney continues to raise the price.
-Consider how long you plan to keep going. A normal person gets bored with the same place, year after year. Especially factoring in the rising costs of doing the same things, eating the same foods, and seeing the same attractions.
-The $25K initial investment is just the start. You still have to get there, purchase food, and buy park tickets. I get why people like to go and take their kids, but after you pay, you are kinda locked in to going every year. If you chose to rent out your points, you still have to factor in the annual assessment.
-no one has mentioned the assessments and the fact they can be fairly large and never decrease. Only increase.
-Disney is still very popular, and like me, you will probably be able to sell it for more than you paid as Disney continues to raise the price.
-Consider how long you plan to keep going. A normal person gets bored with the same place, year after year. Especially factoring in the rising costs of doing the same things, eating the same foods, and seeing the same attractions.
-The $25K initial investment is just the start. You still have to get there, purchase food, and buy park tickets. I get why people like to go and take their kids, but after you pay, you are kinda locked in to going every year. If you chose to rent out your points, you still have to factor in the annual assessment.
Posted on 6/2/22 at 7:44 am to greygoose
Definitely not looking to invest $25k into Disney, but my 2 girls (2 and 8) love it. We went spring break and are going back to for a resort trip (Hyatt) and 1 park day in a few weeks.
How would I go about "renting" points? May stay on property for a night a 2 if I can do so on such short notice.
How would I go about "renting" points? May stay on property for a night a 2 if I can do so on such short notice.
Posted on 6/2/22 at 7:48 am to CidCock
quote:Google it. Owner's are basically making the reservation in your name. There are sites that facilitate this. Short notice stays would be kinda hard, since most are booked up months in advance.
How would I go about "renting" points? May stay on property for a night a 2 if I can do so on such short notice.
Posted on 6/2/22 at 8:48 am to LSUFanHouston
I just don’t see how you could get the value over the lack of flexibility unless you hardcore for yearly. The benefit is the potential savings and ability to book what you prefer far out. But if it’s for 20+ Years your kids will be well grown, I don’t see wanting to continue going back when they are past HS every single year.
Eta: how much are the actual savings? Realistically, you miss one year and is it worth it? That’s what I’d determine, not to mention you are preparing for your vacations years in advance? Take $25,000 and invest it and you are likely better off?
Eta: how much are the actual savings? Realistically, you miss one year and is it worth it? That’s what I’d determine, not to mention you are preparing for your vacations years in advance? Take $25,000 and invest it and you are likely better off?
This post was edited on 6/2/22 at 8:50 am
Posted on 6/2/22 at 9:14 am to baldona
quote:
I just don’t see how you could get the value over the lack of flexibility unless you hardcore for yearly. The benefit is the potential savings and ability to book what you prefer far out. But if it’s for 20+ Years your kids will be well grown, I don’t see wanting to continue going back when they are past HS every single year.
My wife has gone on over 100 trips to Disney world in her life. Her family growing up would go at least twice a year, and for the last 15 years, she has gone at least once a year. (sometimes all of us, sometimes just her and the kids, sometimes her and her girlfriends / sisters).
We are blessed in that we typically go on 3 trips a year - one trip to Disney, one trip to somewhere else (both of these as a family) and a third trip somewhere just me and the wife (usually not to Disney).
My kids are probably still 15 plus years away from having kids of their own... but considering how much my wife and kids like the place... it's clear they are going to want to continue to go into the next generation.
quote:
Eta: how much are the actual savings? Realistically, you miss one year and is it worth it? That’s what I’d determine, not to mention you are preparing for your vacations years in advance? Take $25,000 and invest it and you are likely better off?
You can bank / borrow points so basically a year's worth of points can be used in a roughly 3 year window. Also, you can rent them... and it seems like the market today (which can change, of course) supports renting points at an amount that's enough to cover the annual dues plus amortization of the purchase price.
The savings over staying per night at a comparable resort, as a typical hotel guest... are 50 percent plus in many cases... so it's significant. In exchange for that savings... you have the nut of the large upfront payment and tying up that much cash.
Disney continues to raise prices, up and up and up. So my struggle is... do I try to lock in some component of that now?
Posted on 6/2/22 at 9:19 am to CidCock
quote:
How would I go about "renting" points?
There are several websites out there that have a business of doing this. To use those is more expensive.
You can also try renting from people you know.
There are also FB groups / message boards out there which offer rental listings. You have to be careful of course with this... but there is a way to verify ownership via the Orange County Comptroller's office... since there is a deed associated with point ownership.
The owner makes a reservation in the name of the person renting. Everything is in your name... in the Disney system it looks no different than if you just booked a hotel stay directly with them.
Posted on 6/2/22 at 9:26 am to greygoose
quote:
-no one has mentioned the assessments and the fact they can be fairly large and never decrease. Only increase.
Yes... big issue for me. They seem to rise at a rate of 5-6% per year and never stop.
quote:
Disney is still very popular, and like me, you will probably be able to sell it for more than you paid as Disney continues to raise the price.
This is interesting. I've been working under the conservative assumption that this would be a depreciating asset... due to the deed expiration. The deed expiration creates a finite amount of points over the life of the deed... so my assumption was that the value of the contract would decrease over time as the points were reduced. But maybe the Disney cost increases over time offset that?
quote:
Especially factoring in the rising costs of doing the same things, eating the same foods, and seeing the same attractions.
The only way I think this works for us is if our "use" of Disney World evolves / cycles over time. Over time... I want to try some of the restaurants I have never been to. Go to the waterparks more. Play golf. Spend more time off property during the day.
Of the five parks days we had this trip... we did not rope drop to fireworks a single day. 3 days we took breaks mid-day. 1 day we got there around 3 pm (the day we arrived). 1 day we got there around 11.
quote:
-The $25K initial investment is just the start. You still have to get there, purchase food, and buy park tickets. I get why people like to go and take their kids, but after you pay, you are kinda locked in to going every year. If you chose to rent out your points, you still have to factor in the annual assessment.
I'm looking at this as... the 25K is just hotel costs. We will have plenty of non-hotel costs... which would the case if we went to Disney and were not DVC members... or if we went anywhere else.
Posted on 6/2/22 at 9:35 am to greygoose
Not a DVC member/owner, and this thread was the first time actually reading about it (heard about it before, but never read what it was); so this may be a dumb question.
If the major value of the DVC ownership is the room; couldn't you just use your perks to get the room then do other things in the Orlando area like Universal, LegoLand trip, SeaWorld...? Or, would you not really "get the benefit" this way?
quote:
-Consider how long you plan to keep going. A normal person gets bored with the same place, year after year. Especially factoring in the rising costs of doing the same things, eating the same foods, and seeing the same attractions.
If the major value of the DVC ownership is the room; couldn't you just use your perks to get the room then do other things in the Orlando area like Universal, LegoLand trip, SeaWorld...? Or, would you not really "get the benefit" this way?
Posted on 6/2/22 at 9:39 am to LSUFanHouston
quote:
My wife has gone on over 100 trips to Disney world in her life. Her family growing up would go at least twice a year, and for the last 15 years, she has gone at least once a year
The savings over staying per night at a comparable resort, as a typical hotel guest... are 50 percent plus in many cases... so it's significant.
Without looking into the details, considering both of these it seems crazy for you NOT to do it. I'd stop thinking about it and just go for it.
Worst case, I'll buy them for 1/2 price from you and you only lose 50%.
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