Quote:
Originally Posted by Indydealmaker
Don't over think this.
Just come down for a couple of visits and find a house you like in an area you like.
The bonds are simply a deferred portion of the cost of the original house. Without the bond, the price of house would have reflected the complete cost of the new home including all if the developer infrastructure costs.
Buying a home here is no different than any other home buying experience.
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A word of caution. Do not buy a home that has a price of $65K+ above the cost of a newly built home. On MLS, many homeowners who did this have to settle for a loss in order to sell their home.
Example: A new Winslow-C model price is $460,000.
A preowned is asking $545,000 for the same model with no upgrades to the home. Bond still significantly high because the owner lived in the home for 1-4 years.
We discovered on MLS and VLS these homes are sitting for months. Homeowners are not able to reduce the price because they must pay 30k plus in closing and moving costs.
Buyers look at these homes, see everything is essentially the same as new construction and choose to buy new because it is almost 100K less and under a one-year warranty. The tax rate is cheaper on the new and is located merely a few miles away from the preowned. The buyer sees nothing lost.
Do not place yourself in a predicament where selling your home, if needed, will be extremely difficult. The developer will be building for 15+ more years. New construction will always be less than preowned. Most buyers will choose the cheapest route leaving you out in the cold.
Some will tell you it will be easy to sell the home if you do not like it for a sizeable profit. This is no longer the case. BUYER BEWARE.