Quote:
Originally Posted by EPutnam1863
I am keeping an open mind. I was told by a realtor that if there is a bond on the house, the buyer usually takes out a second mortgage, and it is partially for this reason that some buyers prefer outside the village.
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Some people pay off the bond when they buy a new home and some do not, even though they pay cash for the house. They figure that if they want to sell the house and get another bigger or smaller one in the future that it will be easier without adding the bond to the cost and make the cost appear more. We paid for the house both times and did not pay the bond, for that reason.
The bond is the payment for the infrastructure that is shared by the homes in an area. It is separate here and not added to the cost of the home as it is in other areas.
The bond cost is close to these figures;
Premier Home. 50K
Designer Home or Courtyard Villa.. 25K
Ranch or Patio villa 15K.
Many, I would think MOST, pay the bond payment along with their property taxes every year but some do not like the high interest and pay it off.
It does not deter the homes sale that I can see. We have had six homes sell in our small village of 53 homes in the last six months. All at quite a bit more than they paid for them. The oldest home in our village is a little over seven years. Some had bond paid off and some did not. They all sold quickly. Two moved within our small village and four moved other places in The Villages. Some to larger and some to smaller homes.
I am not or have I ever been a realtor. I like to watch the market.