Quote:
Originally Posted by Normal
Welcome!
I couldn’t agree more. They shall reap what they sew in 30 years when their children (few and far between) will have to support the tax system, SS (if it’s around) and everything else. Their puppies won’t cut it.
If you are choosing the Villages, there are a few considerations to reduce financial losses.
Look for unincorporated areas. Avoid Wildwood, Fruitland Park, Leesburg and Lady Lake. Buying Villages property in those areas guarantees 10 to 15 percent add ons to your tax bill. Also Lake county charges more than Sumter for taxes for now.
Look for stucco mason structures, those reduce some insurance costs.
Look for paid bonds, that will reduce your fees aggregated with taxes and file for exemptions like homestead or military.
Also, buy that fixer upper if you can. Property taxes are based on what you pay for your home, not future values.
Good luck!
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I agree with most, but would advise caution about looking for paid bonds. A paid bond on a house you love, in a neighborhood / Village you want, should be considered a bonus. Not getting a house you love in a neighborhood you want because it has a bond might be a mistake. For some of the houses north of 44 the bond can be quite small & the interest rate pretty reasonable. For example on a 10 year old house north of 44 the bond is $12,000 & the interest rate is 2.43% For a slightly older house the bond numbers are probably much less, due to the initial bond being less & the payoff over the years. Some people spend more on a golf cart. The bond should just be one of many considerations when buying a house.