I am glad I am hearing about all this "shenanigans" by the developer. I have been lured by the promise of "Utopia" too....BUT this IRS business has prompted me to delve a little deeper into the inner workings of TV.
I have worked for many developers and I know most of them to be very cost conscious. By developing so many homes, they have the costs pared down to the bare minimum. They have the materials, time and other factors involved down to a tee. This maximizes the profit they can attain. In business there are three things you can give your customers. Quality, quantity, and low cost ......BUT you cannot give all three at the same time. I have been hesitant to buy in TV due to several factors.
This is in regard to the lack of taxes paid by the developer on the earnings from amenities which is not yet resolved.
First off, the prices of homes being bought by everyone have been premium prices for Florida. The Villages is in the middle of a cow pasture.....not even near the coast where the prices are similar.
I do not agree with his comparison of our community and a cow pasture!!!
Second, The developer sold you your home based on "free Golf" and other amenities......The fees for these amenities were NOT included in the price of your home.....see amenities fees
Technically, if you can walk the course, you play golf on executive courses for free.
Third, The developer then charged you a "bond" fee not charged anywhere else in Florida. Most places in Florida you buy a home and the "fees" are included.....even with all these extra fees included, the price of a home in Florida is still inexpensive.
As you know, anytime you buy in a specified community such as condo, etc. you pay for the use of the recreation programs. I don't think $135 a month is that much to ask for all that we have.
Fourth, Let's look at comparable homes throughout Florida, You just do NOT get the same bang for your buck in TV as you would elsewhere. The value of The Villages is their amenities for which you pay a premium. My home is double the size of most in TV and is half the price.....with the savings, I can get a golf membership at an non-crowded course and play anywhere I would like.
If you are looking ONLY at the actual home, he is correct. However, when you buy in the Villages, you purchase lifestyle, not just a home.
Fifth, I had been concerned about build out. When a developer is still building in the development, he is concerned about keeping everything in excellent condition and "fees" very low to attract buyers. When build out occurs, the developer leaves and "fees" skyrocket. THIS IS THE NORM....not some dream I had, I have seen this repeatedly. Oh you own the amenities you say ! ....not quite
Someone (developer or cronies) owns not only the amenities, but the right to charge you more...... and they will exercise that right when able to.
As I understand it, the bond is for future infrastructure and we (The Community Development Districts) will ultimately "own" all the community buildings, etc. in the Villages.
The developer has found a way to sell homes on an old cow pasture for premium prices, get others to finance his amenities, which you all paid for but do not own, and build a "company store" in which you all live .
I believe that Mr. Schwartz (original developer) was a forward thinking person and good for him that he was able to buy land cheaply and turn it into a wonderful community for us to live in and enjoy. Making money was his original reason and that is the American Way so don't knock it. If you don't like it here, get involved in change or move.
It is the "company store" that none of you bought......just owe your sole to.
Couldn't disagree more!!!