[jeffy]

The bond is for the all the things the developer needs to install to make your new home habitable. Such as your neighborhood roads , water and sewage, electricity, gas hook up to your house, building permits, etc.

The bond is usually based on the size of the lots. Example: If you have a regular home, it might be $20k, if you have a villa it might be $11k. You can either make a once a year payment on the bond with your tax bill, or they offer you once a year the option of paying it all off.

My home in Winifred had a 10k bond to start off with 3 years ago. The yearly payment is about $850.

The newer neighborhoods in the last couple of years have about 20k or 11k bonds that I mentioned above. The older neighborhoods (4years and more started with lower bonds such as I have).