As far as cons, I see three:
- The annual dues (MFs) are very high. The current non-subsidized dues are $8.06 per point, by far the highest in the DVC system. (Compare with SSR at $5.17) Since dues will comprise the bulk of your cost of ownership, that is a big con for me.
- The second negative for me is that owning VB does not give you home resort advantage at WDW, so you would likely not be able to book anything at WDW during the super-peak periods like Thanksgiving-New Years.
- You WOULD have home resort advantage at VB, but you won't need it. It's readily available, including usually available via RCI exchanges.
As mentioned above, the resort itself is beautiful, perfect for a quiet, restful vacation.
But don't expect anything outside the resort. The little town of Vero Beach is a sleepy place with really nothing going on. DVC VB is located in a very remote location, well north of the main part of Vero Beach and sits out there virtually by itself, surrounded by residential neighborhoods. It's a drive to restaurants, shopping, groceries, etc.
I personally would not buy DVC VB for a beach vacation spot -- if I wanted that, I'd get something much less expensive on eBay. There are dozens, probably hundreds, of better beach vacation choices.
I also would not buy VB with the thought of using the points at DVC resorts at WDW. If that's what I wanted, I'd buy at WDW, with SSR probably the best value.