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Do you have to pay annual taxes on property
Yes, but it is minimal. You own only a small fraction of one of the units.
For my 150 point ownership, my property tax last year was $161.28. Property tax is included in your annual maintenance fee bill.
So if they are showing "matching developers points" at a property, I'm assuming that's a one time only and is likely the same as "get a stay for free" promo we saw at Aulani?
You say that 70 is too old to want to go to Disney? I beg to differ. I'm 82 and I love going to Disney every chance I get. You never get too old to go to Disney.
As a previous commentator noted, you must amortize the purchase price. However, you must also amortize the sale of your property IF you decide to sell at some future date. Disney resales do keep their value over time, but eventually must fall as the end of the contract draws near. It will be up to each investor to decide the best time (if at all) to sell a contract as it draws nearer to its expiration.
The other point to keep in mind is that 2047, the first date for contract expiration, could be pushed back. There have already been contract extensions offered for Old Key West, the property that expires the soonest. So, I wouldn't suggest that anyone worry about the expiration dates right now. In a decade, we'll talk.
We have been thinking about DVC for a while now. But...we are a family of 6. Is it still something that could be good for us??
It even makes more sense you can get 1 bedroom, 2 bedrooms even grand villas that sleep 14.
My wife and I bought in 2009 at Bay Lake Tower and it was the best decision we ever did! Best of luck with your decision.
This is a great question to explore in a future column. The short answer is that you can take a family of 6 via DVC, but it will require either some careful room selection or additional points for the two-bedroom or three-bedroom villas that the other poster kindly mentioned.
Yes in short. The one thing would be the amount of points that will be needed for larger rooms. Saying you buy 150 points and go every other or 3rd your points will work just fine. If you are planning on ever year you may need to get creative and break up into studios or solely in the slowest seasons.
You are basing your cost of staying at OKW as the MF (maintenance fee) times points, and you state that you paid nothing but your MF.
Nope. You MUST also figure in the amortization of your purchase price! Thus, my September stay of 5 nights at OKW cost me 5 X a little under $7, or about $350. I bought resale and saved a bundle.
Your point is well taken, but since this piece is intended to be an introduction to DVC membership, the last thing I wanted to do was introduce difficult economic concepts such as the amortization of intangible assets or depreciation of held assets. That would turn the conversation into the Ben Stein teaching scene in Ferris Bueller's Day Off.