Talk me out of it!!! About This Page:

[FitMom]

Subbing... Great topic. Thank you all for sharing! And Best wishes on your decision.

[tjkraz]

A few thoughts:

1. Bear in mind that all you get with DVC is the room. Aside from the $130 / mo for DVC you still need to set aside money for tickets, transportation, food, and other trip expenses.

2. Only you know how tight your budget may be but keep in mind that you're making a 10-year commitment to that $130 / mo plus the other expenses. As a cash guest, you have the flexibility of skipping trips when (if) finances get tight. With DVC, they will keep taking that $130 per month regardless of what else happens in your life. Those points will continue to expire whether you are able to use them or not.

Think about what other expenses may arise over the next 10 years. Based upon your signature, you won't finish paying for the DVC points until your kids are 18, 16 and 13. Is your budget likely to get tighter over that time? How long will an Old Key West One Bedroom (with a sofa bed and convertible chair for the kids, plus just one bathroom) be a good fit for your family?

3. Look into the resale market. I've seen resales for $50-60 per point. It will take you more time to close a resale purchase and you may have to work harder to finance. But the savings are dramatic. Understand that points purchased resale can only be used for stays at the 12 DVC resorts plus RCI trades. But with only 100 points, I doubt you have plans to cruise on points. Also, if you look into Old Key West, bear in mind that some contracts expire in 2042 while others end in 2057. Be sure you know what you are buying if you go that route!

There's a lot of emotional appeal in "owning" a piece of Disney and becoming a "Member". But that's little consolation if it requires a financial commitment you aren't ready to make.

[MichaelF]

DVC has paid for itself for us and has been a good value. However I would never purchase DVC if I had to finance it. $100 a point is a lot of money for OKW and most any of the resorts. If you had to sell for some unforseen reason you will not be able to sell for anything close to the per point price and then to add your finance costs on top of that adds to the pain. I would wait to purchase until you can pay for it and then check the resale contract and you will do much better. I think you can get OKW anywhere from $55 - $70 per point depending on number of points in the contract and the expiration date. Some of them are loaded contracts too.

[benjiboo25]

Thanks to everyone for your advice and guidance. Here is what we decided:

After spending most of yesterday obsessing about DVC and running our numbers....we have decided that we really do want to be DVC members.

However....it is just not in our current budget. For the past 9 years, we have spent over $10,000/year on childcare. In 18 months, that amount will decrease to less than $2,000. Until that point, we cannot risk our financial stability by stretching our budget to cover another monthly payment obligation.

We have decided that we will try to spend a few days of our upcoming vacation at the OKW resort. That would also help my husband to have a better sense of what DVC is. I have done a ton of research but he has not.

[shnewell]

Shelly, it sounds to me like you've given this a lot of consideration and made a sound decision. Yes, it is easy to get swept up in the dream of "owning a piece of the magic." But it is a luxury and one that needs to make financial sense for you. We looked at it and considered it for 10 years before feeling like we were in a suitable financial position to take the plunge. I'm so glad we did it, but I'm also glad that we didn't do it earlier, as it would have been a real financial strain for us.

So, now you have a goal to work towards -- you will get there!!

[Suzy Q'Disney]

Here is my math problem.
This year at AKL, fave resort, 1 week on Discount $2000
Next year Alanui 1 week $2500
Year after AKL 1 week $2000
Total for 3 years $6500

Given that I have gone 8 times in 10 years without DVC I do to want to do that math problem!!!!
We did 100 at SSR and 25 at AKL for $12000. That is 6 years at this years discount rate. I did it. Happy right now.

Susan

[HiddenMickey]

Originally Posted by benjiboo25

Thanks to everyone for your advice and guidance. Here is what we decided:

After spending most of yesterday obsessing about DVC and running our numbers....we have decided that we really do want to be DVC members.

However....it is just not in our current budget. For the past 9 years, we have spent over $10,000/year on childcare. In 18 months, that amount will decrease to less than $2,000. Until that point, we cannot risk our financial stability by stretching our budget to cover another monthly payment obligation.

I think that is a really good choice.

While our two kids were little, we had a woman come to our house to care for them while we worked, bringing her daughter with her. Paying her left us with very little disposable cash. Once my son went to Kindergarten and our daughter moved into a preschool situation, it freed up enough cash for us to save toward buying our timeshare on HHI and then take our first trip to WDW.

[chezp]

That sounds to me like a really sensible decision. I hope you can get into Old Key West and, if you're able to, you enjoy your stay there. We'll still be here to help with anymore questions you have whenever you're ready and able to become DVC members.

[benjiboo25]

Originally Posted by HiddenMickey

I think that is a really good choice.

While our two kids were little, we had a woman come to our house to care for them while we worked, bringing her daughter with her. Paying her left us with very little disposable cash. Once my son went to Kindergarten and our daughter moved into a preschool situation, it freed up enough cash for us to save toward buying our timeshare on HHI and then take our first trip to WDW.

It does make the most sense. I am just so impatient

Originally Posted by chezp

That sounds to me like a really sensible decision. I hope you can get into Old Key West and, if you're able to, you enjoy your stay there. We'll still be here to help with anymore questions you have whenever you're ready and able to become DVC members.

Thanks! I actually changed my reservation (From ASMu Fam suite) to have 4 days at POR and 5 days at OKW for this August. I was able to use my 30% off pin code for both rooms.

[Tigger71]

I totally see the benefits of DVC however if you need to finance to buy in then I would not do it.
Financing to pay for the deluxe room, maintenance and maybe the tickets, meals and more would see me a stressful mess. Vacations are meant to be relaxing and worrying about paying is not my idea of fun. Putting vacations on credit is not a sound financial decision.
Until you have the spare cash I would either visit less often or stay in value resorts (I actually love Pop). Whilst this opinion may not be the popular one, we too have looked into DVC and decided against purchasing because we do not choose deluxe resorts and we must also factor in long haul airfares($8000 min).
Best wishes for your decision.

[mcc0313]

Shelly I waited a while too and just like you I was so anxious to purchase, but when I really sat down and figured in the dues and payments it just was not something I wanted to take on...I kept in touch with the DVC rep that I had spoken with, she was great and called me from time to time...it just happened that the last time she called they had a deal where I could buy less than the 160 which was ok for us. Took three years to take the plunge but it was a worthwhile wait...

[StitchLover]

Originally Posted by DisneyDana

that's a lot of money for something you'll never own. I would NEVER do it, and I go to Disney just about every year...sometimes twice. We Disney savy folks know how to find the best discounts...we don't need to shell out that kind of cash unless you are one of those people that goes during peak season and has to stay at a deluxe then go for it...if not, don't throw your money away!

I have to say I use to feel the same way as DisneyDana, but then I got a taste of Deluxe Resorts (with a 35% off discount), and that's when I started to sway towards DVC. If you prefer the space and accomodations of a deluxe resort (and you go at least every other year) then it does make sense. If you stay in Value or Moderate especially with a good discount, then no, DVC is not for you. Trust me, I've been in both scenarios, and I can see both sides, so it really depends on your vacationing style.

[MichaelF]

Originally Posted by StitchLover

I have to say I use to feel the same way as DisneyDana, but then I got a taste of Deluxe Resorts (with a 35% off discount), and that's when I started to sway towards DVC. If you prefer the space and accomodations of a deluxe resort (and you go at least every other year) then it does make sense. If you stay in Value or Moderate especially with a good discount, then no, DVC is not for you. Trust me, I've been in both scenarios, and I can see both sides, so it really depends on your vacationing style.

That's pretty much what happened to us too. We used to stay in mods and were happy with it. One year we decided to spend the extra for a 2br in a Deluxe and there was no going back. DVC was a good choice for us and we have done well with it.

[tjkraz]

Originally Posted by MichaelF

That's pretty much what happened to us too. We used to stay in mods and were happy with it. One year we decided to spend the extra for a 2br in a Deluxe and there was no going back. DVC was a good choice for us and we have done well with it.

Agree.

Fact is there are many different ways to vacation at Disney World depending on what compromises one is willing to make. Those who applaud themselves for getting great PIN codes at Pop Century could visit even cheaper if they stayed off-site. But they choose to pay more to stay on site and that's their prerogative.

Personally I choose to stay Deluxe and I could produce numbers which demonstrate savings upward of 75% thanks to my DVC purchase. You can't touch those savings with pin codes or "free dining" offers.

My OOP cost for a DVC Studio villa goes as low as $65 per night. A 700 sq ft One Bedroom villa starts around $130 per night. I'll take those over a $70-80 Pop Century rate any day.

[NanaTink]

Originally Posted by DisneyDana

Also...(you SAID to talk you out of it!) lol You can rent an entire HOUSE in Orlando with it's own pool for the cost of just your maintenance fees alone! Just sayin....

But then you are off site and for me, that doesn't work...I like total immersion....WDW is my escape

Originally Posted by benjiboo25

Thanks to everyone for your advice and guidance. Here is what we decided:

After spending most of yesterday obsessing about DVC and running our numbers....we have decided that we really do want to be DVC members.

However....it is just not in our current budget. For the past 9 years, we have spent over $10,000/year on childcare. In 18 months, that amount will decrease to less than $2,000. Until that point, we cannot risk our financial stability by stretching our budget to cover another monthly payment obligation.

We have decided that we will try to spend a few days of our upcoming vacation at the OKW resort. That would also help my husband to have a better sense of what DVC is. I have done a ton of research but he has not.

I think you made a very sound and reasonable decision!!! One day, when you are ready, we will be here and happy to say "Welcome Home!"

Originally Posted by tjkraz

Agree.

Fact is there are many different ways to vacation at Disney World depending on what compromises one is willing to make. Those who applaud themselves for getting great PIN codes at Pop Century could visit even cheaper if they stayed off-site. But they choose to pay more to stay on site and that's their prerogative.

Personally I choose to stay Deluxe and I could produce numbers which demonstrate savings upward of 75% thanks to my DVC purchase. You can't touch those savings with pin codes or "free dining" offers.

My OOP cost for a DVC Studio villa goes as low as $65 per night. A 700 sq ft One Bedroom villa starts around $130 per night. I'll take those over a $70-80 Pop Century rate any day.

It really is a matter of how YOU want to vacation....some people don't see the sense in it, and that's cool. I think it's worth it for the way we like to vacation.