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Originally Posted by dolphinchum
Hello,
We are considering a move from Northern Michigan to TV and have read about the bond cost, wondering about other monthly fees. Thank you.
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The only MONTHLY fees I know of is the amenities fee of approx. $135 that everyone pays and is on your water bill.
The bonds differ with village and usually age of properties, ie, the newer properties with new bonds will be higher than older neighborhoods that have been paying on the bonds for several years. I'm not sure how it is calculated but a certain amount ($762.84 on a villa we are looking at) is paid annually as an assessment on your tax bill until the bond is paid off. I believe I read that it carries a 7% interest rate. Of course, you can pay the bond off at any time and save the 7% but my observation is that most pay it annually until such time that it is paid off. By the way there is another annual assessment ($340 on the same villa) called (I believe) a CDD fee.
We are new and learning and, like you, I was interested in what might be "hidden" fees but these are all I could find. I believe the bonds and CDD fee vary by neighborhood so you'd need to know where you are looking to find the correct info.
Good luck and come on down! It's worth all the various fees. Entertainment and alcohol is cheap!
