Young DVC owners in their twenties

[Sandisw]

Let’s dial down the fear factor here.
If DVC doesn’t work out for any reason, just sell it.
We aren’t talking about a million dollars, the contract mentioned by the OP is a mid-priced car level. Should she not buy a car because they are unmarried? I don’t know, is this 1950?
So hilarious.
The OP clearly asked for advice on the next contract, not on their personal life.

Only caution I see is buying SSR direct. You pay $155pp, it is worth $100pp the next day. SSR is easy to buy resale but hey that’s your call not mine. $25k SSR resale for 250 points AND you’d be “saving” money.

Unless being a direct points owner is important for stays at RIV and future resorts, plus the discounts that come with it. While not guaranteed, it doesn’t make much sense that DVC owners won’t get some level of ticket discounts if APs were not sold anymore...although since they are renewing them, and letting certain guests buy, it’s unlikely it’s going anywhere!

 

[RoseGold]

Let’s dial down the fear factor here.
If DVC doesn’t work out for any reason, just sell it.
We aren’t talking about a million dollars, the contract mentioned by the OP is a mid-priced car level

But see, this isn’t a mid-level car. If nobody pays the dues, it gets foreclosed. And if the other person cancels your car trip next week, which I would argue they can, you aren’t going.

If OP has the cash to do it herself, just do it. Don’t make this into a multi-state business partnership with no lawyer to buy a mid-priced car.

 

[Omoreno]

Th

Let’s dial down the fear factor here.
If DVC doesn’t work out for any reason, just sell it.
We aren’t talking about a million dollars, the contract mentioned by the OP is a mid-priced car level. Should she not buy a car because they are unmarried? I don’t know, is this 1950?
So hilarious except I wonder if the OP was a man if the “advice” would be different?
The OP clearly asked for advice on the next contract, not on their personal life.

Only caution I see is buying SSR direct. You pay $155pp, it is worth $100pp the next day. SSR is easy to buy resale but hey that’s your call not mine. $25k SSR resale for 250 points AND you’d be “saving” money.

Thanks for these words! We make more than enough money to afford it. I actually have a company car, so I don’t have a car payment or phone payment which is a plus!!

we’ve looked into buying a smaller direct contract to get the member benefits and a larger resale contract.

 

[Lva5]

Hi! Thanks for the advice, we were actually approved for about 150k more than we spent on our house, so our lender said it is OK. Thanks for the point!

I'd go one step further than the previous poster and say unless you can pay cash you can't afford it. It's good that you spent less than you were approved for on your mortgage, but that's not relevant to this purchase.

This is 100% a luxury purchase and not something to take on debt for; especially since the purchase itself comes with dues which increase every year. Plus when you have kids your expenses will increase.

 

[Sandisw]

I'd go one step further than the previous poster and say unless you can pay cash you can't afford it. It's good that you spent less than you were approved for on your mortgage, but that's not relevant to this purchase.

This is 100% a luxury purchase and not something to take on debt for; especially since the purchase itself comes with dues which increase every year. Plus when you have kids your expenses will increase.

Respectfully disagree with that paying cash is the only way someone can afford it.

People have every right to make financial decisions that fit their needs and in this case, the OP seems extremely knowledgeable about life and making good choices,

I said this earlier, but lecturing and telling someone they are wrong is not giving advice, Its just being critical.

 

[Sandisw]

Th

Thanks for these words! We make more than enough money to afford it. I actually have a company car, so I don’t have a car payment or phone payment which is a plus!!

we’ve looked into buying a smaller direct contract to get the member benefits and a larger resale contract.

Please don’t feel like you need to explain why you feel comfortable making those decisions. Sounds like you know what you are doing, and are pretty responsible.

 

[Eric Smith]

Respectfully disagree with that paying cash is the only way someone can afford it.

People have every right to make financial decisions that fit their needs and in this case, the OP seems extremely knowledgeable about life and making good choices,

I said this earlier, but lecturing and telling someone they are wrong is not giving advice, Its just being critical.

It’s really hard to make the numbers work if you have to take a loan out to buy it, especially not buying direct. OP would probably be better off renting.

 

[choirfarm]

Huge mistake for all the reasons people have stated. What happens if you unexpectedly lose this great job? Your fiancé is killed? SO many things have not happened the way I thought. I was listening to a financial report about the housing bubble. So many things. You are so young. No reason to rush,

 

[cgodzyk]

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.

Dear Original Poster -

I'm so sorry that you feel somewhat attacked. I want to congratulate you on your upcoming wedding, new home and future DVC purchase.

I have 3 grown children (all in their 20s') and all looking at buying DVC.

Only you and your fiancé know your circumstances.... and no one... AND I MEAN NO ONE should be telling you how to live your life or sharing their own negativity!

-Wishing you a lifetime of Joy and Love!

 

[CSLucas]

Huge mistake for all the reasons people have stated. What happens if you unexpectedly lose this great job? Your fiancé is killed? SO many things have not happened the way I thought. I was listening to a financial report about the housing bubble. So many things. You are so young. No reason to rush,

Using this logic, nobody should ever buy anything but the essentials ever! It certainly doesn't sound like OP is overextending herself and there's no reason not to enjoy DVC like every other person who has purchased. My advice was meant to be more on timing (and even then only the difference of a few months to avoid mismatched names!) and location, not on whether she should buy at all! I feel bad that she is now having to defend her financial position which is nobody's business!

 

[DVCanadian]

Huge mistake for all the reasons people have stated. What happens if you unexpectedly lose this great job? Your fiancé is killed? SO many things have not happened the way I thought. I was listening to a financial report about the housing bubble. So many things. You are so young. No reason to rush,

So your advice is don’t buy until all the bad things have happened?
Or are you asking the young person to wait their turn?

Seems to me the OP has found a great time for a big outlay, before all of the house bills and kid expenses. If all of the disasters you predict happen, she can sell.

What happens if she gets promoted and her fiancé gets promoted?

 

[Sandisw]

It’s really hard to make the numbers work if you have to take a loan out to buy it, especially not buying direct. OP would probably be better off renting.

My point was more about the notion that cash is the only way to buy and that if one chooses to finance, they are wrong and can’t afford it. Of course, they should do their homework but it’s really an individual choice on how one goes about becoming a DVC owner.

I was never comfortable renting and not sure you can equate the two.

 

[Leight19]

My point was more about the notion that cash is the only way to buy and that if one chooses to finance, they are wrong and can’t afford it. Of course, they should do their homework but it’s really an individual choice on how one goes about becoming a DVC owner.

I was never comfortable renting and not sure you can equate the two.

I guess to me it comes down to why someone buys. I think it’s fair to say dvc does not have ton of meat on bones for savings these days when compared to renting points or even cash rooms. I think the math will look even worse next few years if the point surplus and Disney room discounts drop the rental prices.

When buying direct the math is even harder to justify and if you need to finance the interest on loan could further eat into cost balance. Now if someone wants to buy dvc for reasons beyond cost savings I would agree there are people who can afford it that decide to finance (maybe to lock in price or something) but I think it’s fair in this thread to call out cost savings are harder to realize if going direct with financing pending pay off time.

That said, I still have limited understanding of what op is looking for to put any advice towards whether buying ssr and coppercreek would be good for her family.

 

[Sandisw]

I guess to me it comes down to why someone buys. I think it’s fair to say dvc does not have ton of meat on bones for savings these days when compared to renting points or even cash rooms. I think the math will look even worse next few years if the point surplus and Disney room discounts drop the rental prices.

When buying direct the math is even harder to justify and if you need to finance the interest on loan could further eat into cost balance. Now if someone wants to buy dvc for reasons beyond cost savings I would agree there are people who can afford it that decide to finance (maybe to lock in price or something) but I think it’s fair in this thread to call out cost savings are harder to realize if going direct with financing pending pay off time.

That said, I still have limited understanding of what op is looking for to put any advice towards whether buying ssr and coppercreek would be good for her family.

Again, I was responding to the post that said if you are not buying with cash than you can not afford it, not whether financing adds cost. I can tell you I have bought things and financed when I could have paid cash, reasons which made sense for me but would not for others.

I agree that when financing is in play, it takes longer to see savings, but they can be had, However, that is off topic as the OP was looking for info regarding the plan of buying in, how many points, etc.

 

[Leight19]

Again, I was responding to the post that said if you are not buying with cash than you can not afford it, not whether financing adds cost. I can tell you I have bought things and financed when I could have paid cash, reasons which made sense for me but would not for others.

I agree that when financing is in play, it takes longer to see savings, but they can be had, However, that is off topic as the OP was looking for info regarding the plan of buying in, how many points, etc.

This makes sense and I just noticed op updated her original post due to feedback she was getting not being what she was looking for. However I will say her request was a bit vague of “any advice” where majority of her post was focused on the life scenarios people are posting feedback on and little context was given to provide solid feedback on whether 200 pts and Saratoga would be good for her family. It’s a shame as I like these discussions to help people think through what would be good dvc option for them.

 

[Sandisw]

Closing this thread based on the OPs updated first post.