As a more west coast family this is a question we have asked ourselves quite a bit and there are days where I think I might be happier just having a bunch of GVC and VDH points only and live with trying to ninja in rooms at WDW at 7 months. The big wild card that adds to the cost of ownership is travel to the resorts and having your points more local removes that issue if "something happens." I can cruise to Disneyland resort on about 50 bucks of petrol in the minivan vs the 3600 bucks it's going to cost me to get my family plus grandma and grandpa to WDW next month...
With that said, WDW is it's own thing and we like it. The DVC program is impressive there, and I'm looking forward to exploring the different resorts over the years. Here is a list of a few (IMO) pros/thoughts for each:
VDH -
- They aren't going to build a lot more DVC at Disneyland (where will they put it?). Even if they did do a DVC Villas at Pixar Place hotel and double the inventory of rooms in Cali, it would still be way less than what is even in the MK area at WDW (VGF, Poly 1 & 2, BLT, CCV, BRV). Chances are if you wanted advantaged trades or rentals in the long run, your VGC/VDH points would be optimal (even with the tax of doom)
- Tax - it sucks. We have to live with it.
- Disneyland Forward - don't buy VDH with this in mind... however if this long game becomes a reality I think all VDH owners will feel like Scrooge McDuck swimming in the vault of gold.
- It's the OG mouse house and has a nostalgia factor that is off the charts.
VGF -
- You would own at both of the "Grand" hotels on the coasts... I see the appeal. We picked Riviera as our fancy hotel at WDW and we wanted points at Epcot/HS as we will do a lot of Disneyland trips each year. Disneyland and MK are not the same, but they scratch a very similar itch and we think over the years we'll want to be near Epcot more. With that said, if I found a pile of money in the future, owning a few points at VGF could be fun.
- Solid resort with great food options.
- I like to dress up fancy from time to time, but the Grand Floridian made me wish I was wearing a sportscoat on vacation in summer... Just a little to "stuffy" for me.
- For some reason @MrsNVDISFamily hates the décor in the Grand Villa with a passion and I'll have to bribe her to try and stay it in. We do love the 2BR units though.
- Not trying to be political, just more my gut feeling - even with what is going on, I think long term there is less legal/tax risk owning in Florida vs Cali. I still purchased a lot of Cali points, but I'm a bit concerned what might happen 10 to 20 years down the road...
Both are great choices. Best of luck with your decision.