Hi TP peeps! My husband and I just got back from our 5th vacation in the last 3 yrs from WDW and we decided we want to join the DVC! We realized we should have joined a long time ago but were unaware of the program and the way it works so now that we know more about it we are ready to go for it. Now if we buy direct from Disney we can only start off at about 75 points a year but I know if we go through a broker and buy through resale we can get more bang for our buck. My concern is the cons of buying through resale what exactly are we missing out on if we choose resale? that will be the deciding factors of which option we choose to go with. Any help, tips and advice is much appreciated! We already know the pros of resale just confused about the downsides of it.
Check out this link. There's a lot of good, basic info that may answer many of your questions.
We've been considering it too for a few years. We don't rush into anything (clearly!) and it is a major purchase any way you look at it.
Thank you very much for the link I will definitely read through it, yes we have made many financial mistakes in the past so we are not going to jump into without knowing every aspect of it that we can to make the best decision for us.
Given what you said about sometimes making bad financial decisions (been there) I looked at Renting vs. Buying direct vs. Buying on resale. Thought I would pass it along to be ignored or otherwise
Maybe $12,000 for 150 points at AKL on resale if lucky. That gives me just over a week at Club Level in a couple weeks. I then have to pay about $920/year in fees ($6.13/point). I loose about $600/year at 5% interest from not being able to invest the money or perhaps paying on a good interest rate if it is a loan. So $920 + $600 is $1,520/year.
To rent those 150 points would cost me $2,100 at a broker.Savings of $580/year buying. The membership savings otherwise are not that great on re-sale. If you want to go there long term it seems to make sense. For us I just did not see using the timeshare as the kids got older and i wanted more flexibility on vacations. On the plus side one could probably always re-sell it and get a good chunk back. You could also rent out the points yourself some years to me (ha ha) and do something else some years.
Best of luck in your search and purchase!
Another good resource is this page at MouseSavers: http://www.mousesavers.com/other-disney-vacations/disney-vacation-club/#dvc
Also, a key question here is can you pay for all of the upfront costs in cash - if you are going to borrow money for this, then it is generally not advisable to do it.