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09-21-2023, 09:07 AM
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Sage
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Join Date: Feb 2020
Posts: 15,242
Thanks: 1,261
Thanked 16,234 Times in 6,356 Posts
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Quote:
Originally Posted by Bill14564
Other than a monthly amenity fee, the Villages is nothing like an HOA.
The bond is simply a way for the Developer to keep the list price of a home lower while still collecting the cost of infrastructure. You feel good about paying $450K for the home but you end up paying that $450K plus $50K for the bond plus another $4K for Admin fees. The home is "affordable," the infrastructure gets paid for, and the Developer makes a profit both on the home and on the Admin fees.
The same costs are there in other developments, they are just rolled into the price of the home (and likely affect the total profit).
At 3,000 to 4,000 new home sales per year, the bond has not been much of a hindrance to home sales.
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They did find a very clever way to sell homes, that is for sure.
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