Quote:
Originally Posted by calvin
hi folks,
I am a future resident and have been reading your thread with interest. But i'm still confused ? My information packet has an estimated cost of living on a 250,000 house. It says my contractual amenities fee is 135.00/month which I assumed was the variable O&M on the bond. The Development District Assessment is stated as 192.00/mo (which ranges from 97.00 to 448.00 per month) which I assumed to be the initial CDD bond itself ? But Bill threw me off when he quoted his 262.00 one time fee per year. Is the monthly Amenities fee different from the O&M assessment.
I'm sooooo confused. Hope I'm not asking a foolish question here.
Thank you all.
Cal
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There are three items that some people refer to "bonds". They are not all bonds. Here is my understanding.
1. The amenities fee. It is about $135 per month paid yearly. You pay it to cover the cost of the amenities. It is used to pay for the purchase and the upkeep of the amenities. Very reasonable for the amenities that currently are available.
2. The "bond" on your home. It is a one time cost that is based on the lots in your village to pay for the infra structure for that VILLAGE such as streets sewer etc. It can be paid off in one lump sum when you buy your home or in monthly payments. It varies from village to village. The newer village, the higher the bond generally. The OLDEST villages had no bond at all. Add the cost of the unpaid bond to the asking price of any home and that is the cost. Do not forget the bond when you are calculating your offer price.
3. The CCD "bond" is really just a yearly assessment to pay for the upkeep of the villages COMMON AREAS. It is about $250 or more depending on which district the house is in.
Hope that helps.
If I am wrong, please correct me.
JJ