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[jovigirlnj]

I have been talking to my hubby about become DVC members...he hasnt drank the Disney kool aid but I finally got him to agree on a Disney trip every other year. We love love love the WL so I would probably try to buy resale DVC so WL can be our home resort. Here is what I am thinking - go every other year in the beginning of October for about 5 days in a 2 bedroom villa (there are 7 of us so we need the 2 br one).. What do I need to look for in a resale to be able to make this happen? Can someone point me in the right direction to start researching this? Thanks so much!!!

[cubfancolleen]

That time of year it's 279 points for a week for a 2 bedroom. You'll basically want enough points that you can use a year and borrow a year (or bank a year, and then use those plus the current year) if you are only going to go every other year.
Warning, once you buy, you may find you need more points!! We've added on twice (so far) and now own at SSR, HHI, and GCV.
Good luck convincing your DH!!

[jovigirlnj]

Thanks!! He has said ok to every other year - I was checking the resale site...I found this
W1508HAWilderness Lodge150Aug2042All 150 points available now and all 150 coming in 2011!$75$11,250Reduced!

I would need to look for something like this right?? But instead of Aug it needs to be October?? And would we need to pay the entire amount up front or can we finance it?

[cubfancolleen]

Usually through resale you can't refinance.

[MelissaL]

150 points should suffice if you want to go to WL every other year, because that's 300 points every two years. You may want to look at point requirements for other resorts and other months, though, in case you can't get exactly what you want or your schedule changes in some years.

You don't need a use year of October just because you want to travel in October -- the use year of August just means that each year's points become available in August. I think it's actually better to have a use year that starts a few months before you typically travel, because there are restrictions on booking and traveling during the last four months of your use year.

If you buy directly through Disney, you can finance through them. I don't know how it works if you buy resale. We used a home equity line of credit when we bought from DVC because the rate was much lower than DVC was offering.

[jovigirlnj]

Thanks so much for the info!!

[tjkraz]

When buying a resale you have to come up with all the money yourself. It's like buying a house from a private party. They aren't going to give you a loan--you need to work with a bank on that.

Home equity line is a good way to go if available. Most banks don't regarding timeshares very highly. The loan they would give you is pretty much a "signature loan" with a pretty substantial interest rate. You could easily pay 12-15% or more on such a loan.

[hockeyguysmom]

Before my DH was ready to "drink the koolaid" I kept an eye on resale websites so that I would know what certain resorts were going for. Then when he started to show interest I could show him on paper (he's a numbers person) what the prices had been over the previous months for what I thought we would be interested in. Also, since I had become familiar with some of the prices and knew the points we wanted, year end, etc I felt more confident when I finally contacted the resale company.

It's also good to ask questions here and read the PPer ebook on DVC so you have a good understanding of how DVC works before making a purchase.