DVC RESALES
DVC RESALES

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Old 05-02-2013, 01:44 PM   #16
JimMIA
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A couple of comments on some of the info you've received so far:

"Free Points"

There are at least two potential meanings to this term, one applying to a resale purchase and the other applying to a purchase direct from Disney.

When you buy direct from Disney, you get the full allotment of points you are purchasing -- no more, no less. DVC uses "Use Year," which means the 12 month period during which points may be used. In the example above, one poster talks about buying a contract with an October UY. If you buy direct, you would be purchasing during the 2012 UY for that contract, because October 2013 hasn't rolled around yet. Yes, you are getting "2012 points," but you're not getting something for nothing. You are getting what you paid for.

Posters on the DIS will sometimes say you're getting "last year's points free" because they simply don't understand UY or that particular transaction. Any DVC timeshare salesperson who tells you you're getting points for free is lying -- OR you misunderstood, which is not hard to do.

When you buy resale, you get what you purchase but there can be a tremendous variance in what that means. The reason for that is not only UY, but also the banking and borrowing features of DVC. dbs1228 above is legitimately getting "free points" from 2011 because the seller had banked those points into the following (Oct 2012) UY. They are buying what is called a "loaded" contract (one with significant extra points available). Now, those banked 2011 points expire on Sept 30 of this year, so whether they can use them (or rent them) remains to be seen. But they are truly getting "free points."

On the other hand...(and you could probably anticipate hearing this other shoe drop), in a resale you could also be buying less than full points. That is called a "stripped" contract, and it happens when a seller has used all the points from the current UY, or even borrowed points from the next UY.

So, in a resale, it is VERY important to research carefully and fully understand how many points you are getting in the current year, and future years. Not surprisingly, "loaded" contracts tend to sell a little above average market price, and "stripped" contracts tend to sell a little lower than average.

"Perks"

Ignore perks. I'll repeat that so there is no misunderstanding: Ignore perks.

Perks come and go with one swipe of the Mouse's pen. They can and do change -- sometimes in ways you will love, sometimes in ways you will hate -- and they can change without any notice at all. A few years ago, DVC members valet parked their cars at their resort as a free perk, and awoke the next morning to learn they owed $10 for valet parking. The perk literally went away overnight with no notice to anyone.

"Restrictions" on Resale Purchases

If you are only purchasing 100 points, you can safely ignore those restrictions as well, because they will be meaningless to you. The things you lose have point costs far beyond the reach of a 100-point contract...even with banking and borrowing.

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You have come to the right place for clear, unbiased opinions on DVC. Opinions will vary all over the place, but most of the posters here are knowledgeable and nobody's trying to sell you anything.

Research carefully and well. Good luck.
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Old 05-02-2013, 01:48 PM   #17
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Originally Posted by baronvonshush View Post
Thank you for the wealth of valuable information!! We are definitely Disney newbies! It looks like I have a lot of reading to do! Some of the links are working from my iPad so ill have to log in from my pic tonight. As far as planning is concerned, we typically vacation during the off season to get the best rates. However, as the kids get older and it becomes more difficult to take them out of school I am sure that will change.

We have been home from vacation for 4 days and my son is still asking if we can go back to the hotel lol.

Again thank you for the great information.
You should also be aware that DVC is designed to operate at near 100% occupancy all the time. The off season for the park & cash resorts is a very busy season for DVC booking. From October straight through the beginning of January (marathon weekend) are very busy Times for DVC booking. Many will book their home resort at 11 months out, and if they want to switch, see what might be available at 7 months out.

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Old 05-02-2013, 07:09 PM   #18
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We first found out about DVC when my brother told me about an owner he rented from for his trip, and then we rented from her for our trip Feb 2011. I was very intrigued. Found out some friends were owners and brought us back to disney with them June of the same year. From July to December of 2011 I stalked these boards and asked many questions and really learned all the ins and outs of the points.....banking and borrowing rules, use year implications.....you name it. There is so much to learn and when you throw out $14500....that's a good chunk of change. Take your time before spending that kind of money. Like Bill said....it is not an investment, it's not a real estate adventure (even if it is a deeded property). What it is prepaying for future Disney vacations. There is a lot of flexibility built in for your needs as they will change through the years...BUT you will be paying dues on the points for a long time to come. So it's not just the $14,500.....it's a 30+ year commitment. You did the right thing to come home and take your time to inform yourself. Disney loves to catch you in the moment of all the magic.
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Old 05-03-2013, 03:13 AM   #19
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TBH with the current Direct prices I think Resale is the way to go but I was also brought up to have as little debt as possible and I saved for my DVC rather than financing as the costs of the finance meant I wouldn't be making any savings for years. You only have to look at the DVC Resales that are asking extremely high prices to realise that some people overstretched themselves and instead of being a lovely luxury the DVC payments are a millstone around their necks.

We bought Direct for BLT 3 years ago and can't believe the Direct price now so have our last two purchases from Resale.

Are you a family that plan ahead for your vacations? DVC works best for forward planners who can, ideally, book at 11months or at least before 7 months. If you tend to book a month or two before you go you may end up disappointed or with a very disjointed trip with room changes.

Research where you really want to stay as sometimes you may only be able to book at your Home Resort and won't be able to change at the 7month window so you must make sure you will still be happy. We love BLT, you can't beat the proximity to MK. However it is not a resort that I would want to spend my two week vacation at (flying from the UK we do 2 weeks normally) so we added on at SSR whch gives us the contrast of a quiet, relaxing resort for some of our trip too. SSR also had the advantage of cheap points and lowish Dues so I couldnt lose since I love it there.

Remember to budget for the dues, these do increase every year. Even on a 100pt contract the difference this year between BLT dues and BW dues would have been $134. Consider the length of contracts too. Not all the resorts have the same end date.

Research how many points you will ideally want for your trips and then make sure you buy enough for your needs for the next few years (remember you can bank and borrow if you don't travel every year for any reason). You can always add-on later but then you will have to pay costs per transaction and getting small contracts can be tricky as they are popular. Don't buy 100pts if you think you will want to add on 25 next year, it is better to save some money and try and buy the 125 in one go. If 100pt will do you for 5-6 years then that's fine. The points list per resort can't change although the dates and seasons and points per room category can be tweaked. Disney flattened out the huge difference between weekends and weekdays a while ago and last year they reallocated some BLT rooms but the points you see on the chart probably won't change dramatically so you can safely use them for your calculations.

You can still use resale points for RCI exchanges if you wish just not the other collections.

Don't look at the perks, they are transient, just look at the basic timeshare concept to see if it works for you.

Think about the size accomodation you will need for your family as time goes on and your children grow. We bought enough for Studio accomodation for the 4 of us. Stupidly we also stayed in a 1-bed once, fell in love, and now we find the Studios too small but our kids are teenagers. We ended up adding on so that we can always have 1-bed units, usually at BLT, OKW or AK so they don't have to share a bed.

In the distant future I can see us keeping our Direct contract for our use and then going through a process to gift our resale contracts to our children for their vacations.

We didn't look on it as an investment, we took it as a way of prepaying our future trips to WDW. However it has meant that we have stayed in better accomodation than we would have done, stayed at VGC which would have been way out of our beudget and even had enough points to treat my daughter and her friend to a trip for their graduation.

We have never regretted our purchase but we did spend a lot of time researching and number crunching before we took the plunge.
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Old 05-03-2013, 07:08 AM   #20
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It is POSSIBLE to save money on DVC, but if your motivation is financial, there are other ways to save money.

Many DVCers don't save money over what they would have done had they continued to pay cash. There is a psychology working to Disney's benefit. They are, like Meggysmum, happier in one bedroom or two bedroom units where had they stayed cash guests, they'd stay in Studios. They end up adding on, to go more often or to take friends also and treat them. They might have discovered they were comfortable in a value, or offsite - both are cheaper ways to do Disney than DVC. With no room bill, they might spend more. With more trips, they end up trying activities they might not try - expensive Cirque tickets or tours. Now, a lot of people don't regret these choices - while their motivation going in may have been financial, they've decided that they are happy with the value they are getting, even if it ends up costing more - but its something to be aware of.

The other thing you said is you are Disney newbies - It isn't at all uncommon for someone to have a wonderful first trip to Disney, a great second trip, a lovely third trip, a good forth trip....and eventually wonder why they always do the same thing - either burned out on Disney or just bored - the opposite of the dreaded "addonitis" - where you buy more points to go more often. Granted, you won't find many of them here, but it happens. My kids would rather spend a week at an all inclusive in Mexico or at a ski resort - they are thirteen and fourteen. Disney isn't a great trading timeshare - its limited, difficult and expensive. And DVC is a commitment, if you sell at a loss after three or four visits, you will loose money.
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Old 05-03-2013, 08:20 AM   #21
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DVC is not the only timeshare in the WDW area. IMO, it's not even the nicest. The one thing it has going for it is that it's on site. If you are willing to drive off property, there are many, many other timeshares out there. All of them at a tiny fraction of what it costs to buy into DVC. Do some research on tugbbs before you spend thousands on DVC.
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Old 05-03-2013, 11:40 AM   #22
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Quote:
Originally Posted by Meggysmum View Post
Are you a family that plan ahead for your vacations? DVC works best for forward planners who can, ideally, book at 11months or at least before 7 months. If you tend to book a month or two before you go you may end up disappointed or with a very disjointed trip with room changes.

Research where you really want to stay as sometimes you may only be able to book at your Home Resort and won't be able to change at the 7month window so you must make sure you will still be happy. We love BLT, you can't beat the proximity to MK. However it is not a resort that I would want to spend my two week vacation at (flying from the UK we do 2 weeks normally) so we added on at SSR whch gives us the contrast of a quiet, relaxing resort for some of our trip too. SSR also had the advantage of cheap points and lowish Dues so I couldnt lose since I love it.
This is an excellent point. We rarely plan our vacations that far out. As a matter of fact, last night I decided I wanted to go back at the end of September with just my husband as an anniversary trip. 4 months is usually the earliest we plan. Another thing I thought about was how much we enjoyed staying at port Orleans riverside this past trip. Maybe this isn't the best deal for us since we are ok in moderate resorts. I'm still going to research everything and make an informed decision, but based on that criteria alone, I'm thinking we might be better off not buying DVC.
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Old 05-04-2013, 08:16 AM   #23
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The other thing you said is you are Disney newbies - It isn't at all uncommon for someone to have a wonderful first trip to Disney, a great second trip, a lovely third trip, a good forth trip....and eventually wonder why they always do the same thing - either burned out on Disney or just bored - the opposite of the dreaded "addonitis" - where you buy more points to go more often. Granted, you won't find many of them here, but it happens. My kids would rather spend a week at an all inclusive in Mexico or at a ski resort - they are thirteen and fourteen. Disney isn't a great trading timeshare - its limited, difficult and expensive. And DVC is a commitment, if you sell at a loss after three or four visits, you will loose money.
This is my family...and we probably are in the minority of DVC owners having reduced trips a bit since buying. We still love Disney, but not at the same frequency and length of stay that we used to. And we just bought DVC a few years ago! We started going to WDW regularly a few years before we bought. I don't regret our purchase at all, but I'm really glad we did not buy enough points to to spend a week at WDW twice a year, which is what we did for a couple of years before buying, Sadly, my kids reached a point of no longer being excited about going to Disney for a week. The other issue we've faced is difficulty finding time for a week at WDW due to school and sports schedules along with wanting to other things besides WDW. WDW is a seven hour drive for us, and we go to Florida for reasons other than WDW, so working in a 3-5 night stay at WDW works well for us. If we lived further away and had no other reason to visit WDW, we'd probably go for 5-7 days every other year.

ETA: I should note, though, that even though we are doing less Disney these days, I am still thinking of adding points. Sounds crazy, I know! We only have 150 points and prefer 2BRs for our family of five, so even with shorter and less frequent trips, we could still uses another 50-100.

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Old 05-04-2013, 08:37 AM   #24
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We just went through the same process. Did a DVC tour in November and then started reading and discovered resale. It is some work to find what you are looking for and then wait to get through the process. It is 60 days typically to get contract executed, but it might be 60 more days finding what you want, as they go quick right now and you should do lots of research on resorts and points, and time of year you want to travel.

We got 150 OKW loaded for $8500 and 4.5% interest rate from our bank, so the cost is minimal compared to Disney. Our first purchase was just to get something affordable and try it. Our second purchase will be more focused on a specific resort.

Quite frankly, OKW is relaxing, as our children are getting older now anyways and its more for us to use and then hand over to them as they get married and settle down. Definitely a huge savings compared to direct.

Good luck.
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Old 05-04-2013, 11:37 AM   #25
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Originally Posted by staceymay00 View Post
This is my family...and we probably are in the minority of DVC owners having reduced trips a bit since buying. We still love Disney, but not at the same frequency and length of stay that we used to. And we just bought DVC a few years ago! We started going to WDW regularly a few years before we bought. I don't regret our purchase at all, but I'm really glad we did not buy enough points to to spend a week at WDW twice a year, which is what we did for a couple of years before buying, Sadly, my kids reached a point of no longer being excited about going to Disney for a week. The other issue we've faced is difficulty finding time for a week at WDW due to school and sports schedules along with wanting to other things besides WDW. WDW is a seven hour drive for us, and we go to Florida for reasons other than WDW, so working in a 3-5 night stay at WDW works well for us. If we lived further away and had no other reason to visit WDW, we'd probably go for 5-7 days every other year.

ETA: I should note, though, that even though we are doing less Disney these days, I am still thinking of adding points. Sounds crazy, I know! We only have 150 points and prefer 2BRs for our family of five, so even with shorter and less frequent trips, we could still uses another 50-100.

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You are not alone. There is a reason for resales and until recently there were a ton of them. More and more owners are renting reservations and the number of renting brokers is increasing.

I think it's only natural, as you see and experience the same rides, attractions, and resorts, the excitement fades a bit. Disney is a very expensive luxury vacation.

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Old 05-04-2013, 12:58 PM   #26
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The one thing no one has mentioned is that while doing your research it is a good idea to also look at the yearly maintenance fees. These can add up to more than the contract over the course of your ownership. Sometimes the one with the lowest cost has the highest MFs so is really not the best deal - specifically Hilton Head and Vero Beach. Good luck with your decision.
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Old 05-04-2013, 02:03 PM   #27
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Originally Posted by abdmom View Post
DVC is not the only timeshare in the WDW area. IMO, it's not even the nicest. The one thing it has going for it is that it's on site. If you are willing to drive off property, there are many, many other timeshares out there. All of them at a tiny fraction of what it costs to buy into DVC. Do some research on tugbbs before you spend thousands on DVC.
Good point, and one that almost no prospective DVC purchasers consider.

For that matter, we seldom consider the even more important question: "Should I get involved in ANY timeshare?"

Most of us got blinded by the pixie dust and decided to buy DVC. The fortunate among us discovered the DIS before we bought, and bought resale.

But very few of us even considered the basic question of whether timesharing was a good fit for our family.
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