[CFrance]

Originally Posted by kstew43

we were in the same situation. retire at 48 or wait till mandatory 56.

we chose 56, because he was fed CSRS with a pension it will? adjust with inflation, also no social security

the thought was to work till he had to... and then retire to the villages. The issue was, every year we waiting the prices of homes inflated....

So, think carefully in making your decision.

Also, TV is not your usual home purchase.

1- Most homes come with a bond, ($10k-50K) depending on the home type you purchase, on top of the home sale price. you can pay it off at time of home purchase, or finance at approx 5-7% for 30 years,on your tax bill, but its not tax deductable. Older homes sometimes have lower to no bond balance.

2-Yearly maintenance fees, ($250-900) also depends on which neighborhood you choose and is paid on your yearly tax bill, also not deductable. This fee pays for upkeep of the common areas of your particular neighborhood.

3- Amenity Fees, (typical HOA) pays monthly with your water bill and pays for use of pools, clubs, golf, ect. $150 per month.

4- Taxes depend on what county you live in and your city. Millage from 11-17%. You can use the tax estimator on the county websites.


Thats the long and short of it. Think about the gain you will make working 5 more years, vs the prices of Villages home esculating and then you can make your decision. Best case, buy now and rent the house till you get here.

P.S. there are also neighborhoods close by TV that do not have all the fees....just in case your interested in those as well.

Hope this helps....

You could consider buying the home now if possible and renting it out until you retire.