Quote:
Originally Posted by BrianL99
The best analogy I can think of, is owning a home on land encumbered with a CDD Bond, is similar to "owning" a home in trailer park, where you pay a monthly or annual fee for the land on which the trailer is situated.
Common sense would say that's "real world savings" to most folks.
Unfortunately, when dealing with many buyers/sellers in TV (or other CDD communities), common sense is in short supply.
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CDD stands for Community Development District, an entity that develops the land, provides infrastructure and amenities, maintains the community and its amenities, and works to provide a higher standard of living for homeowners.
Not all communities have CDD fees; most typically, you will find them in communities with amenities. CDD fees are a way to offset the cost of community amenities and infrastructure development or improvement required when building new communities.
CDDs help to keep the purchase price of new homes lower because of the deferred infrastructure cost.
Home Buying 101: What are CDD Fees?