So here's an idea on Disneyworld

[Craig234]

Are we talking about the same thing? I'm saying YOU own the house, and rent it out when you aren't there. You could stay there whenever you wanted, your booking company would just have it as unavailable.

We are. The information I found looking into that is that it's very hard to find renters, and likely you won't. The advice was 'only do it assuming it's just a vacation house, that that if you get lucky and do find some renteres that's a bonus, but don't count on it'. Checking a bit, there are services for managing and advertising the places, but I just got bad feedback on it not being viable.

 

[momeNt]

We are. The information I found looking into that is that it's very hard to find renters, and likely you won't. The advice was 'only do it assuming it's just a vacation house, that that if you get lucky and do find some renteres that's a bonus, but don't count on it'. Checking a bit, there are services for managing and advertising the places, but I just got bad feedback on it not being viable.

Oh okay, your initial response left me a little confused.

I've only heard of it for destinations like Pebble Beach, Hawaii, etc. Disney World is in a little bit of a separate class from those.

 

[xalos]

That's valid, but note EuroDisney is about an hour ride outside Paris as I recall (I went once). So not ideal for 'exploring Europe', which needs local hotel stays in places.

They have high speed trains over there. You can travel from EuroDisney to London in 2.5 hours. You could easily use the EuroDisney resort as a staging ground with a little planning depending on what you wanted to see.

 

[Craig234]

They have high speed trains over there. You can travel from EuroDisney to London in 2.5 hours. You could easily use the EuroDisney resort as a staging ground with a little planning depending on what you wanted to see.

I took that train - it's not something to do casually as part of 'see Europe' IMO. Great train ride though. Like I said my recollection of Disney just to Paris is an hour.

 

[Craig234]

Oh okay, your initial response left me a little confused.

I've only heard of it for destinations like Pebble Beach, Hawaii, etc. Disney World is in a little bit of a separate class from those.

Ya, it would be great if it were feasible - profitable rental plus vacation spot.

 

[quikah]

I got it directly from the DVC sales site:

http://disneyvacationclub.disney.go.com/about/cost/

Oh OK, Bay Lake Tower is pretty expensive. Just look at the point charts and see what you can do with 160 pts. http://www.wdwinfo.com/disney-vacation-club/dvcpoints.shtml

I'm just not quite clear how it's a 'very good deal', but I can guess it is a good deal for some specific situations.

Have you priced rooms at Disney lately?

The contract is through 2042 at the earliest (depends which resort you buy at), so you have ~30 years to spread that $24k over (which is a lot, resale is almost half that). A deluxe resort room (the equivalent of a studio) is $250-$600+/nt, so at least a week at almost any DVC resort.

Example, in Oct, Saratoga Springs is $370/nt for a week. DVC is 104pts for a week. Just do the math. Even with the yearly maintenance fees it is a deal.

If you plan to go every year it is a good deal. You can resell it later when you are done or rent the points out if you aren't going to use them.

You CAN get WAY cheaper offsite, or at the lower level resorts (for example All Star Movies are ~$100/nt for oct), so that is also something to consider.

 

[Craig234]

Oh OK, Bay Lake Tower is pretty expensive. Just look at the point charts and see what you can do with 160 pts. http://www.wdwinfo.com/disney-vacation-club/dvcpoints.shtml



Have you priced rooms at Disney lately?

The contract is through 2042 at the earliest (depends which resort you buy at), so you have ~30 years to spread that $24k over (which is a lot, resale is almost half that). A deluxe resort room (the equivalent of a studio) is $250-$600+/nt, so at least a week at almost any DVC resort.

Example, in Oct, Saratoga Springs is $370/nt for a week. DVC is 104pts for a week. Just do the math. Even with the yearly maintenance fees it is a deal.

If you plan to go every year it is a good deal. You can resell it later when you are done or rent the points out if you aren't going to use them.

You CAN get WAY cheaper offsite, or at the lower level resorts (for example All Star Movies are ~$100/nt for oct), so that is also something to consider.

I'm not clear how some of the details operate - the idea of the 'expiration' and what 'use the $24K' means.

 

[KLin]

 

[Craig234]

If you can't think for yourslef, post that KLin.

 

[quikah]

I'm not clear how some of the details operate - the idea of the 'expiration' and what 'use the $24K' means.

You pay $24k for a yearly allotment of points, in this example 160. You get 160 pts every year until the contract expires. These are use them or lose them, but you can bank pts for 1 year or borrow from 1 year. You pay a yearly maintenance fee of X/pt (X is determined by the resort you buy at).

Look at the point charts to see how many points you need to stay at that particular resort.

The points you buy would be based at a particular resort, but you can use the points at any DVC resort. The only limitation is you can make a reservation 11 months out to the resort your points are based in as opposed to 7 months everywhere else. This matters for popular resorts/times. For example, my parents have had DVC for over 10 years, but have never been able to get a room at Beach Club (they have a really cool pool).

 

[alkemyst]

I'm not clear how some of the details operate - the idea of the 'expiration' and what 'use the $24K' means.

some timeshares expire. Obviously a hot property knows in the future it may be to much a cheap buy and cost them.

Usually it's very conservative.

I stay at two timeshares in Florida for 3 weeks a year. None of them in Disney. However; I am right on good beaches with great food and entertainment options.

The cost is less than half what hotels in that area cost. My timeshares are pretty old (one bought in the 70's) and discounted (one sold from an old lady whose husband died and could never go back to it).

Retail of anything is a bad deal. Always pick a new car one year old or more

 

[PenguinPower]

Rent the house out, not to tenants, but to people looking for vacations. Your rental income can probably pay most of the costs of owning the home, and you just have to hire a management company to handle bookings, maintenance, and cleaning while you are away.

Lots of people do this around Pebble Beach because it's such a tourist destination for golfers. During the pro-am, they'll add a 0 to the rental price, and when they get a US open, they add 00 to the rental price.

This is much more of a pain then most people realize, even with the management company. Vacationers, even those who will pay $5000 for the week for 4 people, love to destroy your shit. Shit you didn't even know was destroyable. Then the management company, which is supposed to go after those vacationers and pay you the money back or fix it, end up telling you that a 5 cigarette burns in the master bedroom mattress is "normal wear and tear" and then charge you $40 to change a lightbulb.

After damages, furnishing the place and the management company fee...I see maybe a 3-4% profit. Luckily I bought the place at auction outright, so no mortgage.

 

[OverVolt]

Is OP a "man child" ?

 

[Craig234]

You pay $24k for a yearly allotment of points, in this example 160. You get 160 pts every year until the contract expires. These are use them or lose them, but you can bank pts for 1 year or borrow from 1 year. You pay a yearly maintenance fee of X/pt (X is determined by the resort you buy at).

Look at the point charts to see how many points you need to stay at that particular resort.

The points you buy would be based at a particular resort, but you can use the points at any DVC resort. The only limitation is you can make a reservation 11 months out to the resort your points are based in as opposed to 7 months everywhere else. This matters for popular resorts/times. For example, my parents have had DVC for over 10 years, but have never been able to get a room at Beach Club (they have a really cool pool).

So when it expires your $24K is just lost?

 

[Craig234]

How about you buy a house in every city in the world so you can save on hotel fees?

Oh, and a private jet so you can save on airfare!

Actually, that private jet kind of works for corproate executives. They only have to pay taxes on the price of a commersial ticket to use the corporate jet for vacation.

 

[OverVolt]

So when it expires your $24K is just lost?

Man thats even worse than those weird Microsoft points. Do you buy 160 for $24k but its 41 points for a month or something?

 

[quikah]

So when it expires your $24K is just lost?

Yeah, that is how a timeshare works. You are essentially prepaying your hotel costs. You dont get money back when you check out of a hotel do you?

 

[lupi]

you can probably find a nice place along OBT

 

[mattpegher]

I have a place in florida, but the state changed the laws in the last few years to prevent those of us with vacation homes from using florida resident discounts. Before you could get an ID as a florida resident but keep your DL from your home state. They wont allow this any longer.
Now if you wish to give up your license in your home state you could do this.
However, it is not as financially lucrative to buy a house just to get the discounts.
Costco, sam's and BJ's can get you the tickets at almost the same price.

 

[TastesLikeChicken]

Yeah, that is how a timeshare works. You are essentially prepaying your hotel costs. You dont get money back when you check out of a hotel do you?

Not all timeshares work that way, or at least they didn't used to. In the past many timeshares were deeded and were actual ownership shares that could be passed down through perpetuity to heirs. Today that practice has pretty much ended with "Vacation Clubs" once these places figured out they could maintain ownership and resell their units years down the road. Timeshares/Vacation Clubs are a scam. People could use VRBO, rent a helluva nice house house, and not be locked in to the outrageous maintenance fees that go along with timeshares. Currently a timeshare will run you about $2500 - $3000/wk, all expenses considered, in the Orlando area. Through VRBO you can rent a killer house minutes from Disney for a week for that kind of money, and you aren't locked in for 30 years.

 

[Craig234]

Yeah, that is how a timeshare works. You are essentially prepaying your hotel costs. You dont get money back when you check out of a hotel do you?

Bad analogy. SOme timeshares don't 'expire'.

 

[Craig234]

Man thats even worse than those weird Microsoft points. Do you buy 160 for $24k but its 41 points for a month or something?

No, it's 160 per year for that - plus the annual fees.

But that's it. Appparently lose the $24K.