Holy DVC resales!

[NewmanFamily6]

Man I wish I had the money to buy more points on the resale market right now! So many for sale at better offers than I have seen before:mickey: That is good news for anyone looking to add on or buy in:thumbsup:

[lockedoutlogic]

Man I wish I had the money to buy more points on the resale market right now! So many for sale at better offers than I have seen before:mickey: That is good news for anyone looking to add on or buy in:thumbsup:

alas...good financial planning....like common sense....is not that common

I pretty much assumed that when the economy did take a pretty sharp turn downward (which is inevitable....as it always will be) - that the DVC resale market woulld boom.

People probably made alot of impulse buys in WDW and just said "hey...get out the Visa and we'll figure it out later....why not"....but then it became a little too much later

Make sure that you caution anyone you know that is looking into buying something like DVC that it is a big financial committment...and you should have your ducks in a row first

[adoptionislove]

Man, I am sooooo tempted to buy!!!!

I just have to convince the DH!!!!

But as the saying goes: It is easier to ask forgiveness than permission!!!!! LOL

[BrerGnat]

Man, I wish I could buy in. We are planning a big trip in 2009 and we need a villa (and we can't rent points, because we need the ability to cancel last minute if needed). We are going to spend about $7000 for the villa (2BR) through Disney, and when I think how close that is to the cost of a membership, I cringe.

Perhaps between now and then, we'll have enough saved up that I can convince DH that it is the "smart" thing to do...

I'm keeping my eye on the resale market for sure!

[DISNEYFIX]

Bring on the Contemporary Villas. Saving up for that!:thumbsup:

[Ian]

We are going to spend about $7000 for the villa (2BR) through Disney, and when I think how close that is to the cost of a membership, I cringe.Nat, I've "known" you a long time, so I'm sure you'll take this in the spirit in which it is intended ...

If you drop 7 g's on one trip and don't pump that money into DVC instead, you're nuts.

:D

[BrerGnat]

Nat, I've "known" you a long time, so I'm sure you'll take this in the spirit in which it is intended ...

If you drop 7 g's on one trip and don't pump that money into DVC instead, you're nuts.

:D

Ian, can you convince my husband? I've already expressed pretty much that EXACT sentiment to him, and he still doesn't "get it".

He is with me 100% on the IDEA of staying in a villa for all our trips to WDW, and his response is "I agree it's the smart thing to do, and if we had $20K sitting around, there would be no question about it, but we don't." :(

And there's the rub...

But, on the other side of that argument is the fact that he's deploying to Iraq for the next 13 months, ALL of which will be income tax free, plus there's combat pay, hazardous duty pay, family separation pay, deployment per diem, etc.

A year from now, we can EASILY purchase a DVC resale, but I have to convince him that that is the BEST thing to do with all that saved up money.

[Hammer]

Ian, can you convince my husband? I've already expressed pretty much that EXACT sentiment to him, and he still doesn't "get it".

He is with me 100% on the IDEA of staying in a villa for all our trips to WDW, and his response is "I agree it's the smart thing to do, and if we had $20K sitting around, there would be no question about it, but we don't." :(

And there's the rub...

But, on the other side of that argument is the fact that he's deploying to Iraq for the next 13 months, ALL of which will be income tax free, plus there's combat pay, hazardous duty pay, family separation pay, deployment per diem, etc.

A year from now, we can EASILY purchase a DVC resale, but I have to convince him that that is the BEST thing to do with all that saved up money.


Natalie, I just bought a DVC resale and it could cost you a lot less than $20K. I bought 150 points at SSR and total cost with all fees was a little over $13K. Disney is not refusing many bids as they currently have 2 DVC properties with memberships available and they do not want that. I know you'll need more than 150 points, but with banking/borrowing, it is doable (as you live so close to DL you would not necessarily use the points for there). I know you are looking at staying at BWV or BCV and if you bought this year, banked the points and used your 2009 points, you could get a 2 bedroom at Boardwalk for a week. Then in 2010 or 2011, you could do that again.

Let me know if you have any questions about resales, as I just went through the process.

[lockedoutlogic]

BrerGnat,

you're from Cali right?

Use the construction at Grand Californian and on Oahu to leverage yourself over the top

In response to a story in the Orlando Sentinel a couple of weeks ago...a DVC spokesman mentioned Lake Tahoe and somewhere in the Caribbean as well....

[BrerGnat]

Thanks Christine! I think the hardest thing right now is figuring out how many points we would need. The thing is, in 2010, we will be (most likely) moving out to Maryland for 3-4 years. Since we will be so close, yearly trips will be the norm, and we'd possibly want to go more than once a year, so we'd need enough points to do that. I'm thinking in the neighborhood of 250-300 points is what we'd need. I know we could always add on in the future, but I don't want to have points at two different home resorts. I want to make a decision about points and then buy in on a resale that has that many points per year. Just looking at the points charts, it seems like 350 points/year is more realistic in terms of what we would need, and that is going to cost between $25-30K...

I also want to buy a resale at one of the Epcot resorts, as I know that is where we will spend the majority of our time and I want the 11 month booking window option for those resorts (since they book up fast).

I can't see us EVER staying at SSR, OKW, or AKLV. Okay, maybe when we're old and gray, and want the seclusion, but not for the forseeable future. ;)

I know...picky picky. But if I'm going to plunk down that kind of $$$, it's going to be where I want it.

[BrerGnat]

BrerGnat,

you're from Cali right?

Use the construction at Grand Californian and on Oahu to leverage yourself over the top


You mean with regards to my husband? He knows about both of those projects, but it doesn't change his mind.

As I said, he is down with the idea of buying into the DVC, but I have to convince him that it's the best thing to do with the money. He would much prefer:

-funding IRA's
-saving for a house downpayment (which, frankly, I don't think is that pressing, seeing as how we move every 3 years or so and he plans to stay in the military for another 10 years...buying a house would not be a smart move until he retires).
-opening a mutual fund

You know, SMART stuff. ;) He's financially paranoid. His parents had some serious money problems when he was growing up and he is trying to be the complete opposite, which is really great, I think. However, he's OVER paranoid. There are 1001 things that he would rather do with his money than think about paying for vacation accommodations ahead of time.

I consider myself financially smart as well, but I'm more of the attitude that life is short, and you should enjoy what you have, live in the present, etc. The thing is, our finances are very much under control. We have 529 plans set up for our two kids with several thousand dollars each in them already, he has a 401K set up with work (it's the military version of it, anyway) and he contributes fully to that, and he plans to stay in the military and retire as a Colonel in about 10-11 years, which would give us a nice pension. We have practically no debt and we live within our means. Plus, he has job security, which is hard to come by these days. He worries too much, I think, and doesn't take enough vacations for the amount of work and sacrifice he endures...

[Ian]

Well, if he's a practical kinda guy it might be tough to convince him then. The benefits of DVC can be hard to quantify in practical, numerical terms (although I'm quite certain if I put someone who knows economics on it they could do it).

Also ... if you really want 350 points, that is a BIG financial committment. I have to agree with you on all your points, though. It sounds to me like you know exactly what you want.

The truth is ... if you wait to buy DVC until you can "afford it" you may never buy. How about if you show him how much the per-point cost has gone up over the last 5 years and show him how much you'd "save" by buying now vs. next year when the points will potentially cost a lot more.

Also you can tell him about how great a time it is to buy on the resale market.

[BrerGnat]

As bad as this sounds, I think my only hope is a full fledged recession. When people are forced to sell their DVC or lower the price SO low that it would be foolish not to purchase, I might get the upper hand with DH. Unfortunately, a full scale recession is not a nice thing to wish for because I care about other people. :) Although, to be honest, we'd not be negatively affected at all and would be the people benefiting from other's losses.

[mouse-logic]

... I think the hardest thing right now is figuring out how many points we would need. ... I'm thinking in the neighborhood of 250-300 points is what we'd need. I know we could always add on in the future, but I don't want to have points at two different home resorts. I want to make a decision about points and then buy in on a resale that has that many points per year. Just looking at the points charts, it seems like 350 points/year is more realistic in terms of what we would need, and that is going to cost between $25-30K...

.

Just a small piece of advice.... do NOT buy a 300 or 350 points in a single contract.

Large point contracts are very difficult to resell (should you, heaven forbid, ever have to sell off your points).

With a bit of planning, and shopping, you should be able to buy that amount of points in 2 or even 3 separate contracts (get the same use year, same home resort).

A number of years ago, I bought two contracts both at BCV and both Dec. use year. --150 points and 250 points. After a couple years, I realized I really did not need 400 points every year, so I sold the 150 point contract. It moved rather quickly (6 weeks for $13800 @ $92 per point). Trying to sell a 400 point contract would have been much more difficult (according to the resellers) especially considering the price would have been almost $37000.

[lockedoutlogic]

As bad as this sounds, I think my only hope is a full fledged recession. When people are forced to sell their DVC or lower the price SO low that it would be foolish not to purchase, I might get the upper hand with DH. Unfortunately, a full scale recession is not a nice thing to wish for because I care about other people. :) Although, to be honest, we'd not be negatively affected at all and would be the people benefiting from other's losses.


It's funny you say that....

I was hoping a little bit for a recession so some of the traffic to WDW would decrease.....

Selfish...I know

now with the ""economic stimulus package"....all those families who were on the fence will bite on the "Disney/Affordable" commercials and book it...

"$1600.00 for the whole week? We can do that...."
"Oh yeah..."

(of course...not taking into account airfare for four....rental car....vacation wardrobe purchases....$750.00 or so for food for the week...and $500.00 on Moichandise):mickey:

[BrerGnat]

Seriously...a recession might make Disney look long and hard at the rates they are charging when people STOP flocking down there. Might help us out in 2009...

[lockedoutlogic]

you would think...but they have made it through these before

usually they attempt to just fill out their rooms with more florida residents and sweeten the package deals a little....

but attendence and spending does fall at WDW in bad economic times....

we'll see...if the economy doesn't hit the skids this year...it will be a miracle