Quote:
Originally Posted by petsetc
Think of the bond as a (second) mortgage.
Then think of paying off the bond as something that probably can't be recovered in full if you decide to move/sell.
Realize that the touted number of moves within The Villages is around 3.
My advice is to not pay-off the bond, at least not until you are sure this is where you want to be and the house you picked is your forever house. We have owned our house for 7+ years and I still would not pay off the bond.
Other considerations are: You should be able to earn enough by investing the money (admittedly not this week) and by not paying off the bond you have access to that much cash.
JMHO
|
I agree with not paying off the bond. But, when you pay off a second mortgage, you always get your money back, dollar for dollar. It has no effect on what the buyer pays you for the house. When you pay off the bond, you need to hope that you can sell the house for enough extra money to recover the amount of the bond that you paid off. That is why it makes sense to not pay off the bond.