Re: Bond?
The developers of The Villages creates a new village by first having the infrastructure of the village built: roads and streets, underground utilities for each house, water hydrants, sidewalks, and so forth. The costs for this are then passed on to each new home buyer in that village in the form of a bond that runs for 30 years at (so I've heard) 6% interest, with one annual payment made along with the property tax payment. As with other such loans like mortgages, early payments are primarily interest. And with each new village, bonds are higher because costs of construction are higher today than they were X number of years ago.
Some buyers opt to pay off their bonds when they purchase new construction, or may do so sometime later, or may do so when they sell, or may not pay it off at all. Thus, while new construction automatically comes with a bond, resales can have the original bond, part of a bond paid off, or the complete bond paid off. This has to be factored into the price of a house, whether new or resale, and can be a significant amount of money. We ourselves purchased a resale that the original owners had paid off the bond at the time they purchased it as a new house, so that was a great benefit to us by effectively resulting in a lower price of the house.
Hope this helps. If I can answer any more questions, please feel free to send a PM or post whatever you'd like to know about. Though not related to the bond in particular, it's worth being aware that closing costs for buyers of new construction are much higher than those of a resale.
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