If you have ever bought a newly constructed home other than in Florida, you paid only one total price, which includes the Infrastructure costs (Roads, Utilities).
As far as paying it off DON'T.
Reasoning, You pay only 5% interest for the bond payable as it is added to your yearly Real Estate tax payments.
Our 1st house in TV, both were 5K yearly.
On our 2nd house in TV, both were 4.2K yearly.
Our 3rd house is South of TV, has No bond, and RE Tax under 1K yearly.
If you are appropriately invested, other than perhaps this year (2022) you are way ahead on investment income hopefully a lot more that the 5% interest bond payment.
Just another way for the "Money Hungry Morse Clan" to make even more money on your new house than they make unprecedented profits on.
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Originally Posted by Stu from NYC
We moved two years ago and thought about paying off bond also about 20,000 at the time.
Two different real estate agents said do not expect to be able to add no bond to the value of your home. Since we are still not sure that we will stay in our first home here decided for now to make yearly payments/
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