Buying into DVC whilst in WDW

[Stepaway]

We’ve done the pitch and I am a bit confused...

What’s the selling on restriction people wear metioning? Is it better to buy whilst out here?

[YorkshireT]

Originally Posted by Stepaway

We’ve done the pitch and I am a bit confused...

What’s the selling on restriction people wear metioning? Is it better to buy whilst out here?

See more...

Don’t buy there, come home and research first. You gain nothing buying there.

The restriction is on the new property Riviera. If you buy it and come to ever sell it, it can ONLY be used there by anyone who buys it.

This is bound to impact resale values of that property so if you sell it you will lose more money than you should do.

There is a large resale market, where you can also save lots of money. They may try and scare you off this will various claims, but the resale market is very large. Most owners will buy resale if they ever buy a second contract and many owners only buy resale.

They also sell all the resorts direct, they won’t necessarily tell you this as they are pushing Riviera. The other resorts do not have that restriction on them.

They will try to market to you via perks such as discounts etc. But if you ever come to buy direct you have to sign a waiver agreeing that effectively you have not bought for perks. Never buy for perks as they can be taken away any time.

Recommendation is you come home and spend weeks doing proper research.

[Mr Tom Morrow]

OP. Some very good advice by YT. Never buy if you even have 1 question you need answering or there is any type of doubt in your mind.

Back in 2003 we went to the presentation we had booked. It was a 6.00pm appointment and I rocked up with a ton of questions.

That took until 9.15pm to work through and the Sales Guide thought he had me ready to sign. I then stood up said thank you for your time and I will be in touch and left. His face was a picture.

3 weeks later I rang up and completed the contract from here in the UK having done even more research and number crunching.

[sully301]

so you can still buy the likes of OKW from disney now? If so, how do you find out how much per point and is there a minimum? thanks

[YorkshireT]

Originally Posted by sully301

so you can still buy the likes of OKW from disney now? If so, how do you find out how much per point and is there a minimum? thanks

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Yes you can buy them all. OKW has a 2054 end date. See all prices here:
resalesdvc/2019-dvc-...ice-increases/
DVC is no longer the bargain it was, the recommendation is come home, take your time and then make a decision. There is a lot to consider- before I bought I spent 6 months of intensive research, although I go over the top, but at least a month or so is recommended.
There is not only direct v resale, perks, the resorts, Riv resale restrictions but also things like 7 month availibility. For example, 7 month availability is generally very good for 1 beds, but not so much studios. So would you be better buying twice the points resale and getting much better 7 months availability?
Next dues- think about compounding and put the different dues at different resorts into a 30 year compounding calculator on the internet with an average 5% pa increase. A $1 difference now will not be $1 difference in 30 years, you'll be shocked.
Also don't fall for the baseline price. Riv doesn't look badly priced, but that is not the cost of staying in the rooms- the cost is the buy in x points per night + dues and Riv is very expensive when you do those sums. Dues are very high and it is very expensive points per night- look at the points charts across resorts.
Also don't buy Riv wanting a 2 person studio, there's only 20 something and competition will be fierce at 11 months with 'walking' reservations. DVC owners are value seekers which is why all the cheap rooms and seasons usually are the most popular.
This is just the start of what you need to be researching.
And whilst many of the 'Guides' (commissioned timeshare salespeople) are good, there are many reports of some resorting to scare tactics to make a sale, as discussed by Pete Werner on his Youtube show the other week.
OP- If I were you given you are there, I'd go yourself and just look around some of the DVC resorts.
When you have started with your research come back and ask questions, we are here to help.
I own 3 resale contracts and 1 direct. Many others on here have a lot longer history with DVC than I do- Tom above has circa 1000 points so there's a lot of experience to help you.
Also check out the other board DVC threads, masses of knowledge on there. Also DVCInfo.com and read all the articles and some great starter articles on Disney Tourist Blog.
Also check out the DVC resale sites the main ones include the one above with the direct prices on, dvcresalemarket, Timeshare Store etc. They are all much of a muchness and buying resale is surprisingly simple, it just takes longer - around 8 weeks minimum for it all to be done and dusted.

[Mr Tom Morrow]

OP. Another point to make that will become ever more pertinent if the people staying at WDW continues to increase.

Make sure you buy where you want to stay. The reason I say this is it is getting ever harder to get in at the 7 month mark for certain Resorts and certain room types and the 11 month booking window is very desirable. Hence your Home Resort maybe the only place you can get.

If it was me I would spend a day visiting each and every DVC resort and looking around. OK you wont be able to get in all the rooms but you can get a feel and decide if it's what you like or not.

For example I love Wilderness, BLT, OKW and SSR. The others are nice but just not me.

[YorkshireT]

Another thought- also be fully aware of how changes in DVC management can make the outlook for DVC owners much less favourable. A good thing to read about is 'lock off premium' points increases which the management attempted last year before backing down under pressure, including when Zavendor who is also a member on here did a website protesting against it. You can read a big thread on that on the 'other board', but it did diminish the trust.
Having said that it is still an excellent product, I just bought more resale points myself.

[Custancia]

The only reason to buy out there is to get Disneys finance offer. They can’t sell you their finance unless you are there in person.

That said, it was 10% interest when they offered it to us last year... so even if I did want to finance the purchase, I’d be wanting a better interest rate than that!

So really no reason to buy out there!

[YorkshireT]

Originally Posted by Custancia

The only reason to buy out there is to get Disneys finance offer. They can’t sell you their finance unless you are there in person.

That said, it was 10% interest when they offered it to us last year... so even if I did want to finance the purchase, I’d be wanting a better interest rate than that!

So really no reason to buy out there!

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Their finance is ridiculous, I agree. They have zero risk, as they retain total control of the asset via the deed. Don't pay the finance, they cut you off using it, and rent it out for cash for them and then foreclose. There is zero risk. It should really be about 3-4% it must be a massive moneyspinner for them.