Bought into DVC on my cruise last week, did I make a mistake?

[JimMIA]

I would strongly recommend that you rescind. In any real estate transaction -- and especially with anybody's timeshare -- if you have even the slightest doubt, rescind.

Take a deep breath, and then go to school. Look at the concept of timeshares generally and how one would really work for your family. Look at how DVC works -- the nuts and bolts of making reservations, canceling, banking, borrowing, Use Year, etc, etc, etc. And you might also look at other timeshare systems; DVC is not the only excellent timeshare.

If after all that, you decide that DVC is for you, explore the resale opportunities.

If and when you finally make a decision, you will have much greater comfort than you have now.

[GOOFY D]

I think you are making the right decision to rescind. The option to purchase (resale or direct) will always be there once you have had enough time to research and make an informed decision.

[klepton]

I want to again thank everyone for their invaluable help and insight. The advice to take a step back and make sure it was right for us was well taken, which is what we've done. I sent in the rescission notice on Weds, and it should be processed today. Of course our DVC rep called and tried to convince me to go through with it, which I expected, but it's all done for now.

Our plan now is to take a 7-10 day trip to WDW (probably renting points) and spend a day looking at the different properties. If we really enjoy the stay at WDW, and find a property we really like, we'll look at buying that one resale, and possibly two different properties if we want to mix things up. We plan on buying enough points to easily split between two properties, especially with banking/borrowing ability. But first things first, we'll visit WDW and go from there.

Again, I thank everyone for their advice/suggestions. It's great having a board of knowledgeable people to bounce ideas off of and get honest feedback.

[ELMC]

Originally Posted by klepton

I want to again thank everyone for their invaluable help and insight. The advice to take a step back and make sure it was right for us was well taken, which is what we've done. I sent in the rescission notice on Weds, and it should be processed today. Of course our DVC rep called and tried to convince me to go through with it, which I expected, but it's all done for now.

Our plan now is to take a 7-10 day trip to WDW (probably renting points) and spend a day looking at the different properties. If we really enjoy the stay at WDW, and find a property we really like, we'll look at buying that one resale, and possibly two different properties if we want to mix things up. We plan on buying enough points to easily split between two properties, especially with banking/borrowing ability. But first things first, we'll visit WDW and go from there.

Again, I thank everyone for their advice/suggestions. It's great having a board of knowledgeable people to bounce ideas off of and get honest feedback.

Thank you for taking the time to come back and update us, we appreciate it.

[Mississippian]

Originally Posted by klepton

I want to again thank everyone for their invaluable help and insight. The advice to take a step back and make sure it was right for us was well taken, which is what we've done. I sent in the rescission notice on Weds, and it should be processed today. Of course our DVC rep called and tried to convince me to go through with it, which I expected, but it's all done for now.

Our plan now is to take a 7-10 day trip to WDW (probably renting points) and spend a day looking at the different properties. If we really enjoy the stay at WDW, and find a property we really like, we'll look at buying that one resale, and possibly two different properties if we want to mix things up. We plan on buying enough points to easily split between two properties, especially with banking/borrowing ability. But first things first, we'll visit WDW and go from there.

Again, I thank everyone for their advice/suggestions. It's great having a board of knowledgeable people to bounce ideas off of and get honest feedback.

You have made a wise decision. If you are thinking about staying for 10 days may I suggest that you rent points and stay at as many as four resorts. Yes, moving is a pain, but you are about to make a big investment. And Disney will move your luggage for you while you are at the parks.

This is just my personal opinion, but I would suggest BWV, BCV, OKW, and perhaps one other. These are three of the older resorts and in my opinion offer the best value. Yes, they expire sooner, but they will still last until you are an oldster. At BCV you get the best location at a good price. At BWV you just get the best of all worlds. At OKW you are stuck with a spread-out condo resort but the rooms are huge and dirt cheap.

Just try them and see.