Hard Truths About Disney Vacation Club | The DVC Show
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- Опубліковано 1 чер 2024
- Today the panel discusses a series of articles on DVCFan.com talking about some hard truths that come with Disney Vacation Club! Did we miss any? Let us know in the comments!
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When the housing market tanks, I will re-watch this. Everyone planning on endless gains and nobody considers the possibility of large losses.
Im still waiting for the housing crash
They can't tell you that it is an investment because IT'S NOT.
These people are inserting and removing different factors in the equation.
The entire arrangement is geared to benefit Disney. It's not a ripoff but it's also not an investment.
Thank you
My friend and I were drunk on a Disney cruise ship and bought DVC and were members for 6 years. We got our moneys worth out of it. Paid a mortgage on it for 6 years, paid about $9000, but got that much out of it. A weekly stay at Polynesian resort, Aulani resort, DVC discount, rented out our points a few times. We sold our points in 2021, Im so glad, it no longer was financially smart to own DVC points. The dues go up, we still had a mortgage on the points. We paid off the mortgage and still put some $$ in our pocket. No more headache if we have enough money in the account to pay mortgage and dues. We are still Disney fans and are still planning Disney trips.
The reason we didn’t do it was the annual maintenance cost. It’s was about the same as staying at a nice hotel next to Disney springs. Only was DVC works in my math is if we plan to take a Disney vacation every year (we do like Disney) and spend 5-6 hundred a night on a hotel. Toss in the air fare and park tickets, it’s one expensive annual vacation. We make good money but I prefer to bank the difference and retire early but everyone is different. If money was no object, I think it’s great, just not a great value.
We did a DVC tour in 2018. My mother in law was with us so it was awkward and we didn’t buy. I work in education and have been watching a bunch of DVC resale UA-cam channels all summer. Last week we put in our first offer at AKL.
If you buy direct, the next day your contract is worth less money. If you buy resale, the next day your contract is worth more money.
I’ve been watching the DVC show to gain insight into the benefits and down sides of owning. I’m now doing the next step of renting points at a few different resorts to see what it’s like actually staying in a DVC room.
only thing about renting points when you are not yet a member is that you do not get all of the member benefits. There are some good ones...
I was conservative and bought 50 points resale at SSR to see how much we will like it. It was an easy process and affordable thru the World of DVC.
Dont wait too long, the price is rising
Did you buy?
I’m surprised Sean brought up HOAs for luxury condos being $800/mo vs $300/mo for DVC. For starters, that $300/mo in DVC dues gets you, what, a week or two in a one or two DVC bedroom a YEAR?! Meanwhile the condo is there year-round. You’re not banking/borrowing, shoehorning in a vacation and sweating availability. And a condo gives you so much more space.
I’m sorry, but it’s not even comparable. And a condo you actually own property. A timeshare is like a burning match. You know it’s worthless at expiration. It plunges to zero. Years before it does, the depreciation curve accelerates. I’m surprised the 2042 contracts are still where they are, but I think that speaks to the short time frame a lot of people have for a mentality. I look further out, and owning something that goes to zero in 20 years makes me uneasy. Yes, cars essentially do the same, but transportation is a necessity. Even if you plan on vacationing only for the next decade with your kids, I can’t imagine what a 2042 contract looks like in 2030 or 2032.
Plus Disney is making hostile moves left and right. Why would I want to get into that marriage where they clearly will change the rules to the detriment of the customers? I have a trip coming up and I’m dreading even buying tickets to then reserve park days. I guess I’m longing for the 1990s/2000s Disney. The Eisner era was far superior to Iger.
Sounds like you have access to more data than I had with DVC. We own a Marriott timeshare - bought on an impulse and it has worked out, but it is NOT an investment. Attended several DVC presentations, they were well done, but I couldn't get the numbers to work out at all and that was with the info I had. When we go to Disneyworld, we stay at a Marriott timeshare close by, it may not be the full Disney experience, but we don't need to be totally immersed and our Marriott is much less expensive.
yeah sometimes sean doesn't think before he speaks lol.
My FL condo HOA fees are running just under $300/mo, each. HOA fees vary wildly in Florida. Fees should be considered. However, condos will have resale value. Timeshares have virtually none. Renting out one of my condos for 3 months pays for everything, so it costs me nothing to own.
Why are you here? You must like something about it...
Sure but cash stays on 2042 resorts would still be much more expensive than purchasing a DVC contract, even if you hold the contract till expiration without getting to resell it. So at least you’d get nearly 20 years of discounted deluxe accommodations, and at best you could recoup a good portion of your DVC expenditure.
bought a VGC contract in 2009 for $89/pt - easily one of the best decisions that i've made
I just sold my Disney timeshare this year after 20 years. Fees go up, points go down, ticket prices increase, rooms blocked out. My opinion NOT WORTH IT.
I live in Orlando and have many videos of the area. Good stuff.
We joined in Fall,1993. Then you got park hoppers based on your accommodation choice for the length of your stay. What a selling point! That program ran though December, 1999. We lived in Atlanta for five of those years. Drove to WDW at least 2-3 times a year for a pretty reasonable vacation. Those were the days! At least my OKW “investment” has almost tripled n value.
Do you still use dvc? Would you do it again?
Biggest problems, is the unavailabilty to book. Understand 2020, which cost me points, even receiving a letter from DVC that I would not. Tried to book for this year, and nothing available. been a member since 2007. Finally rented a room off property. Bought at Disneyland, Animal Kingdom is home, but Disneyland is where we vacation. Have never had a problem until this year, except for last year. Planning a family vacation for next year. I am expecting problems.
I feel DVC is good for folks that travel to Disney several times a year.... For others that travel once a year to every other year there are options... I would suggest renting DVC points from someone... You get the discount for your room and do not have to pay the maintenance fees.. From my experience when we rented points we basically were able to stay Deluxe for the price of a moderate. A good option for the occasional Disney visits.
I agree 100%. Just did that myself.
interesting- those I know that have one are split. Some go 2x year others 1x OR every other. But a nice long stay every other - that’s what our last 9 trips since 2015 have been
I think use year matters if you plan to combine those points. I have different use years and it works because i am not using my VGC points anywhere else but Disneyland. Aulani points are for Aulani
DVC and solar panel UA-camrs are very similar. They want to exploit the virtues of these items because it benefits them monetarily, but you would be better off taking your money and investing it in actual real estate or maxing out your 401k. Less headache and definitely a better return long term. Plus these people are lifers. They won’t let go of their DVC unless they die or the costs go out of control. Either way, they are screwed. My advice to them, cut bait if you can make money now and gain truly free hotel stays with your cash and have so much more flexibility in when and where you stay.
I remember Linda when we sailed on the Fantasy a few years back & attended a DVC presentation. We have 2 use years & it works well for us b/c we like to travel to Disney all year long.
We've been in since 2008 at Bay Lake and we've always took 3 trips a year with it. I've went to Disneyworld my whole life and now take my kids all the time and DVC has really made it possible to have great accommodations for all the trips. Sadly though Disneyworld is not what it used to be and honestly the Disney company is not what it used to be. There is SO much Nickle and Diming going on now that it has gotten beyond ridiculous. Then couple that with all the hotels they've kept building and not enough new additions to level the crowds in the parks themselves. Then all the absurd covid nonsense where Disney went completely overboard and that has kept us away for this whole time and never would we have done that. I'm coming to the realization that the "magic" is gone.
Agree. I bought my DVC at Boardwalk in 1999. We traveled to Disney World at least once a year, and also used the points for vacations at other Disney accommodations. Wonderful memories. But, as you said, the magic seems to be gone now. I had noticed over the past couple of years it was becoming very difficult to make a reservation at any of the properties. This never used to be the case. Also, the annual assessment and maintenance fees were increasing rapidly. I then decided to sell before I wouldn't be able to once people realize Disney is no longer the magical place we grew up with. I went through DVC sales (easy process) and did not overprice it. It sold within two days. I cleared 19K after paying the commission.
Yep, hard truth: the room is covered, but the cost of park tickets goes up every year! And as of 2022 you’ll have to add on airport transfer with every trip (unless local).
Of course resort-only stays at DVC resorts can be really wonderful trips, but it’s hard to bring kids down and NOT go into the parks.
So it’s important when considering how many points you can afford, to be realistic about the other costs of the vacation.
Omg, Linda was my sales agent when my wife n I bought. My in laws also bought thru Linda. Love her!!
I would love to see another 7 in 7 resort check ups again. Loved those videos!
I just became a DVC member last week at the Riviera...Disney had points discounted to $175 a point vs the $201 a point through 12/15. I have been mulling this for about two years and finally based on the "research", made the decision to jump. I will say the research was less financial and more of what do we want to do...
Congratulations Mike! I, too, am debating whether to purchase a DVC! Yes, there is currently a promotion and the choices are Aulani and Riviera. I am still apprehensive! Notwithstanding, enjoy your new purchase!🥳🤩
@@mickeysmyspiritanimal223 for the amount of trips and the duration of them my family makes to disney (we live in South Carolina), it will have paid for itself in ~7 years. We have been about a dozen times in the past 6 years and we have yet to tire of it. We love the parks and the resorts are amazing. Thanks for the kind note and best of luck to you in your discernment!
You chose the best resort, congratulations.
@@mickeysmyspiritanimal223 FYI, if buying direct you can ask what other resorts they are selling, I bought in 2020 and I felt the cost for Riveria was too much so I asked what else they had and they sent me a price chart for every resort.....I ended up getting OKW because of the price, size of rooms, and point cost per room. funny but I have not stayed there yet have used my points at the Poly and Boardwalk.....but I am staying at a 3br GV at OKW for a week in July
175 that’s a good deal!
Pete so glad that you are back...sorry you sre missed greatly.
Anybody realize the key statement, " ULTIMATELY DISNEY OWNS EVERYTHING "
Vanguard and Blackrock own everything. Underneath them are Disney and Verizon.
We have a December use year and don’t really have any issues with it. The only problem we come across is that we usually book right after Thanksgiving. Because our stay usually goes across multiple use years (part of the reservation is with 2020 points and part with 2021), we have to do a little work. But it really isn’t an issue.
This is why Craig asks them to move their phone off the table! Someone’s is buzzing throughout the show. Great discussion, thank you!
YES. I reached for my own phone every time 😑
So far, the maintenance at Disney is lower than our Marriott weeks, and the resale is there if you need to sell your weeks. We couldn’t sell our Marriott weeks if our lives depended on it.
Yea but, you can get Marriott for “free” some places with no buy in cost……
I would not recommend Marriott vacation club to my worst enemy.
I did not pay for my Marriott weeks but the Maintenance fee is bankrupting us, more than our property taxes on our primary residence and we only own two weeks.
@@shellysmom7002 where do you get Marriott weeks for free, every time we stay there they are trying to sell us more time at ridiculous rates. You can pick up a week on Redweek for about 1K, but I’ve never seen free.
I love having different use years. Instead of having to stretch points for multiple trips per year we can choose to use all of our UY points at once for a bigger unit or extend a trip for more nights in a studio. We don’t need to worry because we know we have more points coming every few months and can do the same thing with those contracts too.
Hello 👋 what does “same year use” and “different use years” mean!?
Availability is a real killer. We have been trying to book boulder ridge 11 months out for the last month but somehow booked solid. Walkers? Mayve
More likely that you’re trying to book at the busiest time of year, plus there’s a rumor that some rooms are being pulled offline in anticipation of the refurb (although you’d figure if it ever starts it will be before then and we haven’t seen a booking crunch earlier in the fall).
I'm guessing for a studio? We just booked our next stay at the 7 month window, 2-bedroom. Had our pick of just about any DVC resort (including Boulder Ridge & Copper Creek), and we are going to VGF. The way I see it, people fight for studios for the "value", but we usually do 1 or 2 bedrooms (depending if we have people coming with) and almost never have trouble booking a room we want at 7 months. Even got a 2 bedroom at the Grand Californian on our first try, that's the only time I've ever been worried about getting a res.
That is soooo frustrating. I actually think the resale restrictions moving forward to Will help with availability. Maybe not at the 11 month window, but definitely at 7 months.
I’ve been a member since 2000, loved idea that I could bank and borrow to essentially have a big trip for three years worth of points.
Explain more. I’m curious 🧐
I didn't go into this for a financial gain, but I bought 200 points at BLT in 2010 for 21,500 (including incentives) and today it is going for at least 30k on the resale market.
I love these shows!
Yeah, no. I'm going for three days to Disneyland in March with the socal deal staying at a hotel for $120 night. And done. I could not imagine using this year after year. Once every few years is fine with me. And the affordable hotels, or condos/houses in Orlando have always worked out for me and my family. At a fraction of the price of dvc. IMHO. I don't have to pay dues or worrying about a monthly payment.
Agree, DVC as a local is amazing!! (Except for right now…can you believe there’s zero availability 60 days out??)
Way back when we paid 54.00 a point for a add on at beach club !!!!! Joined DVC in 2001 at Wilderness Lodge !!!!
We own two vacation properties in the Disney area, however we are considering buying a DVC contract just so we can have a couple of nights on property 2 or 3 times a year.
Gotta love the wave Paul Krieger.
Paul’s glasses are lovely and I really need one of those tiki misters. 😀
Wish I would have listened about use years. Live and learn...
Yes I bought in being able to bank and borrow, and it enabled me to take my entire family (10) people and book at the Grand Floridian. I would not have had the points otherwise.
Does Disney direct always give you matching points when you buy for the first time?
What??? Monera can finance Disneyland hotels now!!!! Amazing!!
We've been with DVC since 2001. Now we hate it. All the ease of the program is long dead.
I’ve been with DVC since 2016, have used my points for a few years and have rented my points out for a few others. At this point I have nearly broken even with my $25K outlay and if I sold it, I would definitely be ahead financially.
Adjust it for inflation and don't forget the dues. Definitely a luxury purchase
Pete, can you elaborate more at all about how DVC membership changed your resort favorites?
Bought in 2004 at 78.00 a point. Cha Ching……….I love my points.
Good show
Newbie question : can you use points at different locations such as Disneyland, etc?
yes
yes, sell anything that is not an asset, because the big one is around the corner.
The other weird thing about the “investment” is that it is guaranteed to go to zero at the end of the contract. So in just 20 years, many of the contracts will be worthless. At some point much sooner, five years before? Ten? The market has to crash like a game of musical chairs. Who would pay much more for a five year contract that someone bought for half the price with twice the years?
Exactly!!! Thats the hard truth. Yes, your saving money but only if you compare it to go every year and pay cash for the most expensive resort stay. Your not saving money if you only want to go every 2 years and stay at one of the budget hotels. Or if you took the cash from buying points and put it in a good stock
Excellent point.
Yes... Signing docs like the agreement for itunes!😂
I have Dec UY, should I bank knowing I will take a vacation Oct 2022. Or I should bank and make reservations, at least if I cancel my trip I won't lose them?
October 2022 is in your current (2021) use year, the points you received on Dec. 1, 2021, are what you would use for that reservation.
@@drookard1525 new member since 2019, I have 2 small kids n I am afraid something might come up n I might have to cancel my 2022 trip.
I have a December use year as well. For October 2022, you could have started booking for your home resort in November 2021 by borrowing your December 2021 points. For all other resorts, you can book in March 2022 with no banking or borrowing. You can only bank or borrow points once. So if you bank now, you’re looking at a 2023 vacation.
How do I sell my dvc contract?
I just sold 125 point grand Californian contract I bought in 2010. It has been a great investment and free vacations. LOL
More like a speculation than investment. Like getting rooms comped at Vegas and walking away from roulette table with a profit wasn’t an investment, but a gamble that paid off. One thing is for certain-no one buying DVC today will have positive returns. Bay Lake in May 2021 was going for $200+ per point. You can now land them in the mid-$160s, even a 500 pointer for $159. The market broke in May 2021 with lumber prices/real estate hysteria. Going forward, the annual dues will have massive inflation. The costs for operations and maintenance are going to be astronomical. Hotels on the other hand will go down in price. Luxuries like a $10,000 Disney vacation won’t be common when people are doing Black Friday shopping for groceries in 2022, lining up for deals on hamburger because they can’t afford steak or seafood anymore.
DVC from mid 90s thru Grand Cal in 2010 was incredibly stagnant. The years that followed in gains only occurred due to unprecedented Federal Reserve monetary policy. That gravy train comes to an end. In 2022, Disney will be selling 4 properties Direct. The market is saturated, resale inventory is piling up after being in an obnoxious deficit following COVID up until mid-May 2021.
Good on you for cashing out of Grand Cal. Unfortunately, many DVC buyers are never going to see profits. The ones who panicked and bought Bay Lake in May 2021 at $200 overpaid by 25% just at today’s prices in December 2021. Many more who bought hoping to catch a discount when inventory piled up and prices dipped to $195 still overpaid. You’re seeing the market gradually deteriorate for DVC, and the Fed hasn’t even raised rates or tapered its balance sheet. Inflation is piling up in the meantime and family stimulus checks stop going out after this month.
We sold our original direct Grand Cal. Three Years in! Kickin’ myself.
My husband and I are considering DVC and I dont know if buying direct from Disney with 150 or minimum is worth it for blue card benefits or if we’re better off just to buy all resale
In the same boat. Personally leaning towards direct because Disney seems restriction happy lately, as witnessed by the Riviera exclusion.
Thank you for calling out Disney management. A lot Disney fans won’t do that, they just follow blindly.
AddOn-itis is creeping up on this one for sure! I'd like some more points, not a lot... just more. But I also don't want to purge money when the extra points might not really be worth that extra financial effort. Does anyone know, are there one time costs involved? Or is it just sort of a deal where it "increases your existing dues/fees"? Maybe being too much of a rookie at Add Ons is a good thing for my wallet
There are the same nominal closing costs as your original contract. Even if you pay cash and don't finance the add-on, the closing costs will be at least a few hundred dollars to cover the basics of any real estate transaction (county filing fees, deed search, etc)
Literally have years worth of points that I have been unable to use because they won't extend or have availability.
❤❤
Shout out Neon Genesis
Okay, I have to ask...are Sean and Ryno related? Because they look like they could be brothers!
Not a financial investment?? It's absolutely 100% a financial investment. I bought a small (very small) 25pt Hilton Head contract for $86 a point so for the price of one stay at a Disney resort, I get 2 nights a year or 4 nights every other year for the next 20 years.
🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔
Sure miss Fiasco!!1?
I like these videos for like a sense of community but when it actually comes to my vacation time, I want to go to a five-star resort and be spoiled and pampered and have someone wait on me and hang out in my cute designer swimsuits my the pool and just drink wine I have no desire to run around a Disney theme park sweat and stress.
Hard Truths about Peter Wormer
I was talking to a direct guide and he said the borrowing restrictions are temporary
Y
It's a club.
There taking away membership benefits and that’s wrong.
Kind of paid for itself minus the dues yikes 😬
damn...second
first
Hi, We are new viewers of your channel (drawn in by the DVC cooking shows). We have 3 contracts at Wilderness , members since 2003. We watch a few vloggers to keep up with the latest at WDW. We live in Palm Springs CA. and have been using our points at Disneyland. Now that things are changing with no Annual Passports, uncharging to get into Lighten Lanes, Park reservations, dining app reservations, Genie Plus and all.... OMG we are overwhelmed. This doesn't sound like a relaxing vacation anymore at WDW.
We watched Molly on All Ears testing out lightening Lanes, and Genie Plus, and I thought, no no no, I'm not doing that. I'm not getting up for rope drop, just to book rides, and meals. no.That's not a vacation. We watched Paging Mr. Morrow at character dining at Artist Point at Wilderness...really? It's sunk that low? What happened to fine dining?
We cooked better dinners in our DVC using Wegoshop, if they are still around.
Basically it is our understanding that first you reserve dates you want to go to the theme parks. Then you book your DVC villa, and then book your flight to FLA. Once there you get up early and go to the gates to book rides ,and dining reservations. Is this true?
So, basically we want to keep our DVC contracts, altho during Covid we've lost a ton of points due to expirations.
My question is, would your team discuss keeping a DVC contract to visit other Orlando historic sites, theme parks etc. and skip WDW Theme parks altogether?