Talk of The Villages Florida - View Single Post - Ability to Pay Bond Full
Thread: Ability to Pay Bond Full
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Old 12-02-2009, 01:12 PM
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Quote:
Originally Posted by 784caroline View Post

There have been a number of threads started on the pros and cons of making such payment. From what I recall, if you plan to be in your house at least 10 years or more it may be beneficial to pay it off. If you have any doubts of staying in TV or you think you may sell and move to another home in TV, its probably not to your financial benefit to pay the bond off for you are unlikely to recoup the cost in the sale of the house especially in todays market. If you plan on staying put and have the extra 15K, 20K or even 40K whatever your bond may be, it would make sense given low interest rates and the wide flucatuations in the financial markets...and you like to sleep at night!
Another point in addition to recouping the cost is that whatever cost you hopefully can recoup is now part of the tax base for the buyer. When folks buy homes they _may_ compare two similar homes, one for $220k with a $20k bond and one for $240 with no bond. If I am buying the former (with a bond) wins.