Quote:
Originally Posted by merrymini
Only buy a house you love and make improvements that make sense to you. I am not going to live with cheap, junky appliances because I may sell the house some day. Bonds make a difference or ads would not make an issue of saying “no bond.” My bond was at 6 percent and, like a mortgage, was over a term of 30 years. Do the math, we paid off the bond at closing ten years ago. Anyone who thinks someone with a paid bond will not take that into consideration at pricing their home is crazy. If you are trying to time the market, good luck. This is a wonderful place and buying a house here is a good thing. Only you can determine if it is worth it to you.
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The whole question concerning about the Bond revolves around those who can't pay it off or are splitting hairs over paying it off vs those who have the ability to pay it off for whatever reason. Remember, just because you may be earning good interest on your money now, there is no guarantee that interest rate will be available for the long term these days. There is no correct or incorrect answer since everyone has their own specific situation, But you are correct. When someone is looking for a home, having the bond paid off is just another significant advantage like a new HVAC system, nicer landscaping, etc, which will make your home more attractive to purchase and enable you to get the price you want as long as you market it correctly. For example, if you have a $20,000 bond and you pay it off, that gets lost when you include it in your $500K to $800K home as an example when you sell as long as your home is well maintained. In the newer areas having a bond to pay off can add anywhere from $2,000 - $5,000 more a year to your costs. The only time I wouldn't pay off the bond even if I could is if I didn't plan to stay in the home or If you are the type that keeps moving around the Villages.