Young DVC owners in their twenties

[Omoreno]

I didn’t expect the comments to be so condescending! I was asking advice on point values, not my personal decisions! No more comments required. I don’t know how to delete.

 

[RoseGold]

I would not buy any real estate with anyone I am not married to, especially not multi-state transactions that can require bringing cash to the table to get out of them.

If you have the legal structure set up with actual business agreements for all of this, which you should if you are buying a house with a business partner, then you need to add florida real estate to the mix.

Doing this right out of college, with someone you aren’t married to is too much for me. SLOW DOWN. DVC is not going anywhere. Maybe you get no vacation time for two years, maybe you really want to visit your sister who moves to Paris, maybe your job is in Paris for a year, maybe you absolutely hate your job, but have to make your timeshare payment. DVC will still be there when you have kids.

 

[Omoreno]

Hi, thanks for your advice but we’re getting married in less than a few months and have been together for years.

we personally are asking for point recommendation or recommendations related to DVC not our relationship!

Thanks for your advice, but I find it slightly offensive. I have no reason to slow down and we are pretty set on buying into DVC. Saying we’re “too much” for you, is honestly laughable to us!

plus, my sister lives in NYC and doesn’t plan on moving. The other lives an out from us, and his brothers live within 20 minutes. No Paris for us!

 

[RoseGold]

This is a real estate transaction. I would and have given the same advice to people buying in with kids or siblings.

This is a five figure real estate transaction that needs to be done correctly.

 

[Sandisw]

Congrats on it all. Owning direct points allows you to stay at RIV and future resorts, which is nice if those might appeal to you down the line,

If you buy resale, those points can’t be used that way. I bought some resale last summer, and regret it now since it makes it more difficult when booking at RIV since those can’t be used.

Now, if RIV isn’t for you, then it’s not a big deal. 200 is a great amount to start and with one child, studios will work. However, we opted not to go for CCV because those studios go fast and are difficult to get, even at 11 months.

Personally, I love RIV and if I was adding on direct in the next year or so...after your SSR...I might consider that,

Resale..I’d look at BLT or VGF..as those are so close to the MK it gives access which when you have kids it will be the park you visit more.

 

[FreeTime]

I 100% agree with RoseGold. You, also we’re not 100% clear on what you were asking advice on. You need to make sure both of your real estate transactions are treated like a partnership as you are not married.

My DH and I bought into DVC in our early twenties after purchasing our home and making sure that all of our other debts were in order and making sure that we always bought less than others tell you that you can afford. The dues alone for DVC can crush your budget if you aren’t careful. Do you have a years worth of maintenance money set aside for your home purchase? Do you have the money saved for the lawn mower and other things you will need to keep your house in order? HOA fees? Home repairs? How about your transportation? Student debt? All of that is already paid for, right?

 

[4luv2cdisney]

hi everyone!!!

so, my fiancé and I have decided to buy into DVC!! I am 23 and he is 26. I am blessed with an amazing job right out of college making something like this realistic for our finances.

we close on our house on Wednesday and will buy our DVC that week.

we have decided on 200 points at Saratoga. My fiancé works in the golf industry so it’s very appealing to him. We are buying direct at 155 a point during their special.

I personally do not think 200 points will work for us once we have kids, so I am thinking down the road we buy a 75-100 point contract at copper creek resale or one of the new resorts direct. Which would give us more time, as I don’t think 33 years will be enough!

any advice?

Always have the $ first.

If you have a full years worth of living expenses in savings (outside of retirement and long term investments) plus the cash on hand to pay in full, go for it.

Do not count on future earnings for a luxury purchase.

As far as add-ons, you worry about those when they are needed.

And this is the same advice many on here receive when asking questions about a DVC purchase regardless of age. I think it's just assumed that many 20-somethings don't already have that solid nest egg built up, so people will point it out to be helpful. Also, because at 23 you likely aren't really established in your new job (unless I misunderstand and you have had the job / been working in your field through college). So, the fully funded savings is extremely important.

 

[princesscinderella]

I’m not sure if OKW is offering the direct sales discount right now like SSR but it’s a slightly longer contract and it also has the golf course running through it. My father in law was also a golfer and he loved hunting through the brush to find lost balls, he especially liked finding the mickey stamped ones. All the resorts have pros and cons, such as location, expiration dates, Lower dues, or mix of room types, etc. I’d watch videos on the internet of all the different rooms to get a feel for the accommodations in each one. The remodeled Saratoga rooms look really nice. We own there and have always enjoyed our stays there, the treehouses especially.
Congratulations on your upcoming wedding! I got married very young (20) but had been with my hubby since I was 15, so I get where you are coming from. We are celebrating twenty years this year and we would have loved to buy into DVC in our twenties. The only suggestion I have is if you plan to change your name it’s definitely easier to buy DVC after the nuptials, also due to a special deed type only available to married couples in Florida which makes deed transfer easier something happened to either one of you. I hope you enjoy many years of DVC fun at Disney.

 

[Wedgeout]

Congratulations on the engagement and marriage! If still in your budget consider getting 250 range instead and split into two 125 point contracts deeded the same. (Still a single membership). Extra closing costs but just in case anything unforeseen happens in life. (I sure didn’t predict this Covid situation). Blue card membership will be retained if one contract is ever broken off from the membership. Each contract may also hold better resale value. Enjoy all the wonderful years ahead together with this purchase!!

 

[DVCanadian]

hi everyone!!!

so, my fiancé and I have decided to buy into DVC!! I am 23 and he is 26. I am blessed with an amazing job right out of college making something like this realistic for our finances.

we close on our house on Wednesday and will buy our DVC that week.

we have decided on 200 points at Saratoga. My fiancé works in the golf industry so it’s very appealing to him. We are buying direct at 155 a point during their special.

I personally do not think 200 points will work for us once we have kids, so I am thinking down the road we buy a 75-100 point contract at copper creek resale or one of the new resorts direct. Which would give us more time, as I don’t think 33 years will be enough!

any advice?

200 points should be enough for 1 bedroom for a long time.
When ready to add on I’d consider more SSR via resale, and BLT resale for the longer contract and monorail resort.

 

[LeslieLou]

Congratulations!
200 points is a great start (more points than we have). We have 100 points BLT/VWL but don’t go every year due to other trips so it works for us. I do usually wish we had more! I would add on at Poly or GFV or more BLT if I had more time.

 

[HappyThoughtsTees]

hi everyone!!!

so, my fiancé and I have decided to buy into DVC!! I am 23 and he is 26. I am blessed with an amazing job right out of college making something like this realistic for our finances.

we close on our house on Wednesday and will buy our DVC that week.

we have decided on 200 points at Saratoga. My fiancé works in the golf industry so it’s very appealing to him. We are buying direct at 155 a point during their special.

I personally do not think 200 points will work for us once we have kids, so I am thinking down the road we buy a 75-100 point contract at copper creek resale or one of the new resorts direct. Which would give us more time, as I don’t think 33 years will be enough!

any advice?

Make sure you talk to someone about the deed and how you are classified. It varies per state, for example, my husband and I are "partners with right of survivorship" or something like that, not "husband and wife"...even though we are technically both. Also, will one of you be changing your name after the wedding? That will require a deed change as well.

 

[pavicich]

Omereno-Congrats to you! We did the same back in 2009 : in our mid 20's, new home, etc-started with a direct BLT @160 points and have been fortunate with our careers to have grown with additions at several resorts, most recently CCV. We love being owners and recommend it to everyone.

 

[CSLucas]

hi everyone!!!

so, my fiancé and I have decided to buy into DVC!! I am 23 and he is 26. I am blessed with an amazing job right out of college making something like this realistic for our finances.

we close on our house on Wednesday and will buy our DVC that week.

we have decided on 200 points at Saratoga. My fiancé works in the golf industry so it’s very appealing to him. We are buying direct at 155 a point during their special.

I personally do not think 200 points will work for us once we have kids, so I am thinking down the road we buy a 75-100 point contract at copper creek resale or one of the new resorts direct. Which would give us more time, as I don’t think 33 years will be enough!

any advice?

Not at all saying something is going to happen with your relationship, but I would wait the few months until you are married since (like others posted above) it will just make things easier down the road. I guess the only exception I would see would be if you are planning a trip between now and getting married.

Did you decide on 200 points from your own research or based on what a guide told you? Honestly 200 points seems like a lot for just two people just getting married unless y'all go to Disney a ton (I say just getting married because this time before kids is when you can easily travel abroad or check off some of those other bucket list places). I personally would buy the minimum direct (125) and then wait until you have kids to see how your needs change. You might hate Disney with kids. You might hate SSR with kids. Kids change a LOT in ways that you cannot possibly comprehend until you have them. Unless you absolutely NEED the 200 points, I would go for the minimum. The reason I asked about guide v. research is that the guides do tend to inflate how many points you will need (it's their job to sell as many as possible, after all). Our guide told us that we would need a minimum of 185 points (and recommended closer to 200) to do BLT for 3-4 nights every year in a one-bedroom (what we prefer with 2 young kids). When we actually looked into the charts, it was pretty clear that we absolutely did not need 200 points for our desired travel times. And if those needs change in the future, it is super easy to buy 25 extra points direct.

As far as resorts, with our young kids (3 and 5), the only resorts we would even consider are ones that let us walk straight into the park (we only considered BLT and VGF and we went with VGF). If you are going to be going with babies, I can promise you transportation looks a LOT different than it looks for you right now. In 5 years you might find out that SSR just does not work for you and you'll have 200 points that you won't be able to ever use until the 7 month mark.

 

[Marionnette]

Hi, thanks for your advice but we’re getting married in less than a few months and have been together for years.

we personally are asking for point recommendation or recommendations related to DVC not our relationship!

Thanks for your advice, but I find it slightly offensive. I have no reason to slow down and we are pretty set on buying into DVC. Saying we’re “too much” for you, is honestly laughable to us!

plus, my sister lives in NYC and doesn’t plan on moving. The other lives an out from us, and his brothers live within 20 minutes. No Paris for us!

If you're getting married in less than a few months, then there's no reason to rush into a DVC purchase before then. Get married. Enjoy the ceremony and reception, if there is one. Savor this moment in your lives.

Homeownership comes with a lot of expenses. It's not bad advice to tell you or anyone who is experiencing multiple life-changing events to hold of on financial decisions until you fall into a rhythm to your new life.

But as far as the original question is concerned, SSR is not a bad choice. Have you stayed there yet? Perhaps a short visit there might be in order before you purchase if you haven't.

You will want a home resort that you do not feel "stuck" at if you cannot book another DVC resort at 7 months. A lot of people choose SSR for sleep around points, but they do so with the understanding that there will be times when they cannot book their first, second or even third choice of resorts. They also tend to be individuals who can be flexible with their vacation dates and don't mind doing split stays.

Two hundred points can go quite far at some resorts during certain seasons. It will get you a week in a 1BR at SSR in September but less than a week in a RIV studio at Christmas. Check the points charts for all of the resorts but focus mainly on your home resort to determine how many you will need. Many families do just fine in a studio until their kids reach their teens. You could scale back the number of points you purchase now, set aside the difference in the price of the contracts and the difference you would pay in dues. Then use that nest egg to buy more points later when you're ready to move up to larger accommodations or a newer resort.

 

[AliceIn]

I agree with the other posters who say to wait. One huge factor that nobody has mentioned is that if you plan on having kids, you need to plan on HUGE expense related to that. When I was in my 20s, I was absolutely certain that I would never have kids. I felt the same through my early thirties, and then boom, I wanted kids. I eventually had 3 kids, and man is it expensive to raise them. Daycare alone was astronomical, and college will knock your breath out. You will need around $25-30K for an instate school per year, per kid. If they go to a private school or out of state, you are looking at $50K per year. It's not something to be taken lightly.

 

[Sunnyore]

hi everyone!!!

so, my fiancé and I have decided to buy into DVC!! I am 23 and he is 26. I am blessed with an amazing job right out of college making something like this realistic for our finances.

we close on our house on Wednesday and will buy our DVC that week.

we have decided on 200 points at Saratoga. My fiancé works in the golf industry so it’s very appealing to him. We are buying direct at 155 a point during their special.

I personally do not think 200 points will work for us once we have kids, so I am thinking down the road we buy a 75-100 point contract at copper creek resale or one of the new resorts direct. Which would give us more time, as I don’t think 33 years will be enough!

any advice?

No real advice since it sounds like you did some research to make your decision. Personally $155 sounds decent considering resales is climbing to $115ish right now to easily pass ROFR and this locks you in with a blue card and access to all DVC resorts. I think the only thing you didn't mention is picking out a good UY for your family. Your needs may change over the year but if you're thinking about buying resale you may want to see which uy seems to have more availabilities since some are uy are definitely rare on resale sites. I did it backwards and bought resale first knowing I can easily get my uy buying direct. But sounds like you're considering buying a few years out so you got time.

 

[Brian Noble]

any advice?

The best advice I can give you is plan to have your plans change in ways you can't easily plan for.

I'm not quite 30 years into your future. As I look back on that time, there were plenty of unexpected things that changed the way we vacationed. That ranges from little things---like the kids' school changing their vacation schedule in a way that upended our winter break plans---to things as big as a 3.5 year separation during which we mostly traveled separately except for a few milestone celebrations for the kids. The kids were very active in high school, which curtailed our travel earlier than we expected. One of our parents suffered early-onset dementia and passed away a couple years ago---this was the set of grandparents we imagined visiting the beach every year with for a very long time.

And so on.

In applying that advice to your situation, I'd suggest two things: be able to scale up or down easily, and have an exit plan. You've already thought about scaling up, and that's a good idea rather than buying a bunch extra now. Having two contracts (I'd split them 125/75) rather than a single 200pt one makes it easier to scale down. Likewise, if you are forced to liquidate in a handful of years because of some drastic change in circumstances, you might well regret paying an extra 50% or so for SSR points direct vs. resale. Yes, that means you won't be able to use them to stay at RIV, nor will you have Blue Card benefits, but the extra $10K you don't spend now might come in very handy later (and it would take you a good while to make that $10K back in tangible perks, if you ever did.)

Finally, think carefully about what other expenses you are going to incur in the next 5ish years, because you are at a stage in life where expenses are likely to go up, and possibly by a lot. If neither of you owns a house yet, having a good chunk of cash to avoid PMI plus the inevitable start-up costs makes buying a first house a lot less painful. Day care isn't cheap either---especially if it is a good one.

On the other hand, if you have $30K laying around that you can't imagine using for anything more important in the next 5-10 years, and you anticipate having the ability to take an extended and expensive Disney vacation annually even given your day-to-day expenses will go up, why not? That's what money is for, after all.

 

[havoc315]

My advice to everyone is to only buy if you can safely afford it. But I make no assumptions based on age. I’m sure there are many 23 year olds who can afford better than many 43 year olds.

My advice though: Buy the lower end of the points you really see yourself using now. Easier to add on more points later rather than finding you have too many points.

200 points is plenty for a couple if you’re planning 1-2 weeks in studios per year. With banking and borrowing, you may also want to consider whether you might end up combining points with skipping years. (If you take 1 trip every 2 years, 400 points would actually be on the big side).

If you’re buying direct and want to insure a popular time period, you may want to investigate buying a fixed week. Though I don’t see that as a priority at SSR.

 

[DVCsloth]

hi everyone!!!

so, my fiancé and I have decided to buy into DVC!! I am 23 and he is 26. I am blessed with an amazing job right out of college making something like this realistic for our finances.

we close on our house on Wednesday and will buy our DVC that week.

we have decided on 200 points at Saratoga. My fiancé works in the golf industry so it’s very appealing to him. We are buying direct at 155 a point during their special.

I personally do not think 200 points will work for us once we have kids, so I am thinking down the road we buy a 75-100 point contract at copper creek resale or one of the new resorts direct. Which would give us more time, as I don’t think 33 years will be enough!

any advice?

I think Saratoga would be awesome for Golf, not sure about the bus situation for traveling to the parks though. I also feel that having less time on the contract is not always a bad thing. Personally, I would buy 125 points and then try it out for a while because you may want to have the 11 month booking at a different resort in the future. Congratuations on the upcoming marriage and joining DVC!