Bond
That’s just the way it is in The Villages and a few other communities in Florida. Most communities don’t have bonds. You will get more house for your money and the homeowners will end up owning all the amenities except maybe the golf course when the community is built out. But don’t expect that in The Villages, you will own nothing but the bond and your monthly fee will eventually sky rocket once the development is built out. I believe it’s being keep low now so sales will continue. Just look at the size of the development and the future costs to maintain it along with the fact that all the amenities are sold to private investors.
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