Advice For First time Buyer (resale)

[dave_shoo]

Hi everyone. I am seriously considering buying DVC for the first time. There's simply too many factors here and I'm having trouble working through all of it and could really use some advice.

We are an adult couple with no children who would like to travel every year or two. Studio is fine.
I am not concerned about home resort for booking 11 months out. We are not likely to book that far out and I'm a crazy person who will check the website 3 times a day, everyday, to look for availability. Plus I don't mind split stays.
Certainly we'd prefer to stay at a MK or EPCOT resort, or AK.
I'd likely rent my points when I can't/won't go to cover my dues.

Should I be buying the cheapest Saratoga contract I can, which gives me a good price, many years and low dues?
Does it make sense to grab something like DAK instead due to higher rental prices I can earn and better resort I rather stay at, even if the upfront cost is a bit higher and higher dues?
Somewhere else? Boulder Ridge is great but short contracts.

Also how many points? Do I buy a little more than I might need for flexibility of resort and I can rent any extra? 120, 150, 200?

I know this is a lot, but I appreciate any advice, opinions and discussion. Thank you.

 

[CarolMN]

That's such a personal decision. Standard advice is to buy where you wouldn't mind staying if you can't get anywhere "better" at 7 months.

The ability to trade at 7 months depends heavily on the time of travel, the particular resort and the villa size & booking category. The less expensive options (points/night) tend to book very quickly and are seldom available at 7 months. Some go within seconds of the 11 month window opening. Summer is much easier to get than the fall. The near-park resorts (BLT, VGF, PVB, BWV & BCV) book much more quickly than the others. Some options book before the 7 month window even opens for many times of the year, especially if you want a studio.

My decision was to buy where I want to stay, but I seldom venture out at 7 months. IMO, the savings of "settling" for a less expensive option are soon forgotten if you have to stay at X resort but wish you were at Y. If you can afford DVC, buy where you want to stay most of the time.

P.S. Welcome to the DIS. Don't be a stranger!

 

[Sandisw]

Since you say you really have no preference but AKV might be a nice choice, I’d spend a bit more for that.

While you may not plan on booking during a home resort period now, once you become an owner that may change if all of a sudden you have trouble booking things when you want to go.

Studios and near park resorts are always in high demand…so, in determining points, maybe getting enough for 1 bedrooms would be good since those tend to be available more often at 7 months than srudios,

Keep in mind that new resorts like RIV and VDH are restricted from resale points. As new resorts come on line, and other resorts like BWV, BRV, and BCV expire in 2042, fewer places to book near the parks will exist.

Good luck!

 

[dave_shoo]

That's such a personal decision. Standard advice is to buy where you wouldn't mind staying if you can't get anywhere "better" at 7 months.

The ability to trade at 7 months depends heavily on the time of travel, the particular resort and the villa size & booking category. The less expensive options (points/night) tend to book very quickly and are seldom available at 7 months. Some go within seconds of the 11 month window opening. Summer is much easier to get than the fall. The near-park resorts (BLT, VGF, PVB, BWV & BCV) book much more quickly than the others. Some options book before the 7 month window even opens for many times of the year, especially if you want a studio.

My decision was to buy where I want to stay, but I seldom venture out at 7 months. IMO, the savings of "settling" for a less expensive option are soon forgotten if you have to stay at X resort but wish you were at Y. If you can afford DVC, buy where you want to stay most of the time.

P.S. Welcome to the DIS. Don't be a stranger!

Thank you!

 

[dave_shoo]

Since you say you really have no preference but AKV might be a nice choice, I’d spend a bit more for that.

While you may not plan on booking during a home resort period now, once you become an owner that may change if all of a sudden you have trouble booking things when you want to go.

Studios and near park resorts are always in high demand…so, in determining points, maybe getting enough for 1 bedrooms would be good since those tend to be available more often at 7 months than srudios,

Keep in mind that new resorts like RIV and VDH are restricted from resale points. As new resorts come on line, and other resorts like BWV, BRV, and BCV expire in 2042, fewer places to book near the parks will exist.

Good luck!

This makes sense thanks.

When you say restricted from resale points, you mean if you bought resale you aren't allowed to book it at all?

 

[CarolMN]

This makes sense thanks.

When you say restricted from resale points, you mean if you bought resale you aren't allowed to book it at all?

Yes. Resale points purchased now cannot be used to book Riviera or VDH (new Disneyland DVC). We believe that all future DVC resorts will be unavailable to resale points, but do not know that for sure. (It's very likely, though).

 

[Sandisw]

This makes sense thanks.

When you say restricted from resale points, you mean if you bought resale you aren't allowed to book it at all?

Correct. Resale points can not be used at RIV or VDH, and future resorts, which may include the new Poly tower depending on whether it’s a made a new resort or added to the current one of PVB.

If you buy RIV resale, those are only good at RIV and the same will be true when VDH hits the resale market.

So, buying resale today gives you trading rights into the original 14 resorts only unless DVD reverse course and abandons restrictions which seems unlikely.

 

[ak517]

When we were purchasing our first resale contract, I debated the cost versus resort versus length of contract aspect quite a bit. At the time we were DINKs living in south FL but knew we'd be back to the northeast near family and friends eventually (we left sooner than we expected), so our travel patterns to WDW would change considerably. So ultimately, my method boiled down to:

• Picking a use year, knowing your current preferred travel time may change. Have a solid understanding of banking windows to make sure you don't lose points! That's my greatest fear, and in fact I've planned trips that borrow points in order to prevent losing points that were going to expire.
• Determine the best value TO YOU. This will vary. We were not only in it for the bottom line. For instance, I wanted a resale contract with extra points to "extend the lifetime" of the contract, so to speak, and I knew I wasn't going to buy in at a 2042 resort because of the shorter contract duration even though I love BWV (I've been able to stay at BWV twice despite owning at AKV, by adopting some of the strategies OP mentions in your post).
• My favorite method for determining what contract may be the best value to me dollar-wise is a back of the envelope calculation on "lifetime value" of the points. E.g. how much would I spend on the contract incl estimated closing, divided by the number of points in the contract, plus current year dues per point. If it's under my personal threshold amount, then I believe the contract is a good value for our family.
• Finally, know you'll want more points than you think is reasonable. Hence my mindset for searching for loaded contracts. Ultimately this still wasn't enough, and now we've decided to grow our family and want to bring extended family on trips with us, so we bought a direct VGF just this week.
• Know that you can't predict the future. Make this purchase based on what works for you now, and be comfortable with the fact that you may need more points or you may need a different use year in the near or far term future. This was something that took me a little while to get comfortable with understanding.

Best of luck!!

 

[dave_shoo]

Yes. Resale points purchased now cannot be used to book Riviera or VDH (new Disneyland DVC). We believe that all future DVC resorts will be unavailable to resale points, but do not know that for sure. (It's very likely, though).

Oh wow. I knew Riviera couldn't resell but didn't realize this. Thanks

 

[dave_shoo]

When we were purchasing our first resale contract, I debated the cost versus resort versus length of contract aspect quite a bit. At the time we were DINKs living in south FL but knew we'd be back to the northeast near family and friends eventually (we left sooner than we expected), so our travel patterns to WDW would change considerably. So ultimately, my method boiled down to:

• Picking a use year, knowing your current preferred travel time may change. Have a solid understanding of banking windows to make sure you don't lose points! That's my greatest fear, and in fact I've planned trips that borrow points in order to prevent losing points that were going to expire.
• Determine the best value TO YOU. This will vary. We were not only in it for the bottom line. For instance, I wanted a resale contract with extra points to "extend the lifetime" of the contract, so to speak, and I knew I wasn't going to buy in at a 2042 resort because of the shorter contract duration even though I love BWV (I've been able to stay at BWV twice despite owning at AKV, by adopting some of the strategies OP mentions in your post).
• My favorite method for determining what contract may be the best value to me dollar-wise is a back of the envelope calculation on "lifetime value" of the points. E.g. how much would I spend on the contract incl estimated closing, divided by the number of points in the contract, plus current year dues per point. If it's under my personal threshold amount, then I believe the contract is a good value for our family.
• Finally, know you'll want more points than you think is reasonable. Hence my mindset for searching for loaded contracts. Ultimately this still wasn't enough, and now we've decided to grow our family and want to bring extended family on trips with us, so we bought a direct VGF just this week.
• Know that you can't predict the future. Make this purchase based on what works for you now, and be comfortable with the fact that you may need more points or you may need a different use year in the near or far term future. This was something that took me a little while to get comfortable with understanding.

Best of luck!!

This is really helpful. I'm crazy enough that I know I won't waste points, but yea, also something I want to make sure doesn't happen.

Searching for loaded contracts? You mean just many points?

Thanks!

 

[ak517]

This is really helpful. I'm crazy enough that I know I won't waste points, but yea, also something I want to make sure doesn't happen.

Searching for loaded contracts? You mean just many points?

Thanks!

Loaded contracts would be those with banked points from prior use years. In contrast, a stripped contract is one that is missing points for the current (and often future) UYs.

 

[chlwodud85]

One thing to note, when you rent out your points they value differently based on your home resort. (ie: SSR, OKW and maybe AKL are less valuable then GFV, BCV, RIV etc..)

We ended up going with resale at SSR and it was far less investment then buying direct (about 50% less) which allowed me to get more points for wide range of use.

Do we get to book GFV studio (yes but not at peak times, still can book 1BR here and there)

Only restriction that I wish I had was access to lounge and access to Riviera (but at least for me the +$10k saving was worth more)

Hope this helps with your decision

PS: I ended up buying another resale contract yesterday to add on more points... you can never have enough...

 

[smileyanna]

It sounds to me like you have reasonable preferences across a bunch of different factors.
The nice thing about the resale market is that you don’t have to follow a linear process where you “make a decision about home resort, use year etc” and then go searching for that precise contract. (Though that is a perfectly good strategy too!)
Instead you can search for contracts at SSR, AKV, and BRV (and any others), and consider the combined pros and cons of what you see. Some contracts are a little too big, or a slightly off use year. Make an offer, or make a bunch of offers for a price you would feel comfortable with. Try lowballing offers while you get a feel for the market; in the process, you might solidify which resorts/use years you really want to pursue.

 

[DanCali]

Hi everyone. I am seriously considering buying DVC for the first time. There's simply too many factors here and I'm having trouble working through all of it and could really use some advice.

We are an adult couple with no children who would like to travel every year or two. Studio is fine.
I am not concerned about home resort for booking 11 months out. We are not likely to book that far out and I'm a crazy person who will check the website 3 times a day, everyday, to look for availability. Plus I don't mind split stays.
Certainly we'd prefer to stay at a MK or EPCOT resort, or AK.
I'd likely rent my points when I can't/won't go to cover my dues.

Should I be buying the cheapest Saratoga contract I can, which gives me a good price, many years and low dues?
Does it make sense to grab something like DAK instead due to higher rental prices I can earn and better resort I rather stay at, even if the upfront cost is a bit higher and higher dues?
Somewhere else? Boulder Ridge is great but short contracts.

Also how many points? Do I buy a little more than I might need for flexibility of resort and I can rent any extra? 120, 150, 200?

I know this is a lot, but I appreciate any advice, opinions and discussion. Thank you.

As you do you research, you will likely see that (for WDW resorts) resale prices are inversely related to dues.

If you prefer and MK or Epcot resort, you may get those at 7 months out, but it may not be in the most economical rooms and you may have to split stays. It also depends on when you want to go.

If you're thinking about SSR as a home resort, and plan to often book at around 7 months out, you may as well also consider an Aulani subsidized dues contract since SSR shouldn't be an issue to book at 7 months out and you'd be in the same boat when it comes to other resorts. It will have the same advantages you describe for SSR - long contract life (actually 8 more years than SSR) and low dues. The upfront cost will likely be in the same ballpark, but you will need to be somewhat more patient finding the contract you want since these don't come often on the resale market and don't last for too long when priced appropriately.

 

[MsChristy12]

That's such a personal decision. Standard advice is to buy where you wouldn't mind staying if you can't get anywhere "better" at 7 months.

Yep 100% agree with this. Are you okay with being "stuck" at your home resort if you can't get the one you really want at 7-months? If where you stay matters to you, then always follow the "buy where you want to stay". You will see a lot of members here are firm believers of that, and I'm one of them.

For the amount of points you want to buy, it really depends on many things. When I was doing research I found this tool on DVC official website and hopefully it's helpful to you:

https://disneyvacationclub.disney.go.com/cost-calculator

Besides using that calculator, I highly suggest you take a look at the point charts across the seasons you prefer to travel to WDW. That way you get a sense of the points variance between different resorts. Just because you can book one week in a studio at AKV for under 100 points in the month that you want to travel, it doesn't mean you can do the same other resorts. But if you really don't care where you stay, then you can do SAP (Sleep Around Points), which means you'll buy what's the cheapest available, and play the roulette at 7-months.

 

[dave_shoo]

One thing to note, when you rent out your points they value differently based on your home resort. (ie: SSR, OKW and maybe AKL are less valuable then GFV, BCV, RIV etc..)

We ended up going with resale at SSR and it was far less investment then buying direct (about 50% less) which allowed me to get more points for wide range of use.

Do we get to book GFV studio (yes but not at peak times, still can book 1BR here and there)

Only restriction that I wish I had was access to lounge and access to Riviera (but at least for me the +$10k saving was worth more)

Hope this helps with your decision

PS: I ended up buying another resale contract yesterday to add on more points... you can never have enough...

So you did what I've been considering at SSR. You are able to book GFV, just not Rivera?

 

[dave_shoo]

Yep 100% agree with this. Are you okay with being "stuck" at your home resort if you can't get the one you really want at 7-months? If where you stay matters to you, then always follow the "buy where you want to stay". You will see a lot of members here are firm believers of that, and I'm one of them.

For the amount of points you want to buy, it really depends on many things. When I was doing research I found this tool on DVC official website and hopefully it's helpful to you:

Thanks for sharing the tool. It suggested 175. Seems reasonable to me.

I def understand the concept of "buy where you want to stay." I've monitored availability previously and found that things open up here and there. Maybe I'm being overly optimistic that if I'm checking multiple times per day I'll find the stays I want. It'll take a bunch of work, checking over and over. But I don't mind doing that. I know most people don't/won't. I just cancelled and rebooked award airfare for the fourth time because the cost kept dropping LOL.

 

[chlwodud85]

So you did what I've been considering at SSR. You are able to book GFV, just not Rivera?

correct, Rivera doesn't even show on my list of available resorts. all other resort (excluding VDH) I can see there availability and book within the 7 month mark. The 11 month advantage for SSR is only good if you want to go during peak peak time at studio room.

As a separate feedback for me I have currently 220 pts at SSR but have a contract in ROFR for another 160 pts

Those 1BR at GFV are like 50% more then SSR 1BR so the extra points are needed (if the are available)

 

[MsChristy12]

Maybe I'm being overly optimistic that if I'm checking multiple times per day I'll find the stays I want. It'll take a bunch of work, checking over and over. But I don't mind doing that. I know most people don't/won't. I just cancelled and rebooked award airfare for the fourth time because the cost kept dropping LOL.

It can definitely work if you stalk it all the time. But there are times it won't work out and you will have to be okay with whatever it's available.

I do the same! There's a reason why I stick with only certain airlines. I would buy the cheapest flight available for the dates I travel, but one of the flights might not be the ideal schedule I want so I would stalk the app daily multiple times, to see if they would drop the price on the flight I really want. It has worked out in my favor so far I do the same for rental cars.
I don't mind it, it's kinda my pass time hobby?

 

[dave_shoo]

It can definitely work if you stalk it all the time. But there are times it won't work out and you will have to be okay with whatever it's available.

I do the same! There's a reason why I stick with only certain airlines. I would buy the cheapest flight available for the dates I travel, but one of the flights might not be the ideal schedule I want so I would stalk the app daily multiple times, to see if they would drop the price on the flight I really want. It has worked out in my favor so far I do the same for rental cars.
I don't mind it, it's kinda my pass time hobby?

My hobby too. Makes me happy!

I recognize I might not always get where I want. Thinking I can much of the time. Also not minding split stays.

I will want studios though and I guess that's my biggest concern.