The costs to be considered

[Shooby doo]

Hi Folks just thought I'd put this one out there, more for those that are thinking about DVC as opposed to those of us that own already. Due to my financial circumstances changing, I retired,I had also read an article on how much of a pension you would need to be able to do certain things, this resulted in a huge dose of reality ! We had always planned on DVC every year & certainly lucky enough to do this for the last 5-6 years but I then started crunching the numbers & then got the shock! Flights + Passes+Dues + Spends resulting in approx £500/month savings & that's not saving for anything else but a once a year holiday! The reality of that is that I need to go back to work just so I can enjoy my retirement !
SD

[JasonErpelding]

Originally Posted by Shooby doo

The reality of that is that I need to go back to work just so I can enjoy my retirement ! SD

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Hilarious.

[amy56]

Originally Posted by Shooby doo

Hi Folks just thought I'd put this one out there, more for those that are thinking about DVC as opposed to those of us that own already. Due to my financial circumstances changing, I retired,I had also read an article on how much of a pension you would need to be able to do certain things, this resulted in a huge dose of reality ! We had always planned on DVC every year & certainly lucky enough to do this for the last 5-6 years but I then started crunching the numbers & then got the shock! Flights + Passes+Dues + Spends resulting in approx £500/month savings & that's not saving for anything else but a once a year holiday! The reality of that is that I need to go back to work just so I can enjoy my retirement !
SD

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Hi Shooby 👍

So what have you concluded you will do re your DVC?

I just admit I have become increasingly disillusioned with Disney the last few years (namely the greed of the company) and whilst I am using all of my points for two trips this year (including borrowing!), I must admit that I’m wondering about selling longer term- and you mentioning retirement has given me food for thought.

The problem I’ve got with selling, is that I’ve got small contracts - something that was mentioned to me as being a good idea when I bought in because they were more attractive to sell - however, I now find that each contract sold has its own fees, so I think I’ve made a mistake as I don’t think my 25pt contracts will now be worth selling once I’ve paid all my fees! 😢. Feel a bit stuck now - thankfully I can rent out the points for the years I don’t want to go, but wondering if longer term I’d be better off selling and then having no dues to worry about once retirement arrives?

Decision, decisions!

[Shooby doo]

Amy like you we have some hard decisions to make, I've even "jokingly" warned DW that this year might be our last trip but have placated her by also saying that we may have to go back to every second year but even that then becomes £300/month! I can only think that whilst I was working we must have been "robbing Peter to pay Paul" every year When you write down the costs & then split them up into paydays you realise how much you need to be putting away every month just to go to Disney! The harsh reality is that to go every year we need to "find", at a minimum , £5k - doesn't sound much written like that
Gone are the days where you could pick up flights for £69 & that year we upgraded to PE & it cost £99 not to mention that we had a couple sat near us that had paid £199 incl Hotel!
I'm not too enamoured of Disney's current direction, appears to me that unless you have oodles of money, they aren't really interested in you & I believe that at some point something has got to give.
I know that we can sell & make a tidy profit, we bought at $67.50, funny though pre-retirement reality we had been considering adding on !
If you really want to depress yourself, google that article about pensions & expectationsI think it described mine as several short UK holidays per year
SD
SD

[JasonErpelding]

Originally Posted by amy56

The problem I’ve got with selling, is that I’ve got small contracts - something that was mentioned to me as being a good idea when I bought in because they were more attractive to sell - however, I now find that each contract sold has its own fees, so I think I’ve made a mistake as I don’t think my 25pt contracts will now be worth selling once I’ve paid all my fees! 😢. Feel a bit stuck now - thankfully I can rent out the points for the years I don’t want to go, but wondering if longer term I’d be better off selling and then having no dues to worry about once retirement arrives?

Decision, decisions!

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You do have to a pay a $150 fee for each contract sold but, hopefully, because they are small they would sell for more than $150 vs the larger contract. Of course, if you are referring to paying the $450 to help with recovering the FIRPTA tax then that is another story.

Jason Erpelding
Lic. Real Estate Broker
Buy and Sell DVC, Inc.®

[amy56]

Originally Posted by JasonErpelding

You do have to a pay a $150 fee for each contract sold but, hopefully, because they are small they would sell for more than $150 vs the larger contract. Of course, if you are referring to paying the $450 to help with recovering the FIRPTA tax then that is another story.

Jason Erpelding
Lic. Real Estate Broker
Buy and Sell DVC, Inc.®

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Hi, yes I’d be talking about all the relevant fees - a very costly business!