Quote:
Originally Posted by Charlton Dude
Thank you.
So let me see if I understand this properly.
It sounds like it could make better economic sense to buy a resale, as opposed to new to reduce the amount owed on a bond. Correct?
I need to be very careful which house I put an offer on, as the true amount owed on a bond or CDD can vary greatly, depending on if the owner owes the amount or decided to pay it off. Correct? I wonder how can I discover those numbers prior to actually making an offer.
We will not have a mortgage. We will be paying cah. How does this affect any payments due?
|
Charlton, I do believe there are many good values on resales. That said, rather than just comparing the cost of the bond, compare your total purchase cost plus the cost of any upgrades you plan to make.
For example, some upgrades that you want might have already been made in resale. On the other hand, a resale might have some upgrades/features that you don't really want that you would be paying for. Also remember that the price of resales is negotiable, the price of new in TV is not.
How will you know the amount of bond owed? Ask!
Another thing different about buying a home in TV, is that The Villages and MLS Realtors do not share listings. So to see all the resales available, you'll need one of each. Best bet is to get a written Buyers Agreement with your MLS Realtor. That requires your Realtor to represent only your interests in a purchase. Otherwise, the Realtor just facilitates the transaction.
Another consideration is location. North has more mature landscaping and homes tend to be further apart. It's also the older section, so many homes with low or paid bonds. Homes have gas and electric utilities. However, you might be further from many centers of activity.
Other location considerations: Do you want to live near a town square or closer to grocery stores and other shopping? Do you want to be near a rec. center or near or on a golf course. Some people don't want to live so close to a rec. center as to hear pickle ball; others love the convenience. Do you have any favorite golf courses you might want to live near?
Many people also care about the orientation of their lania. For example, we preferred an east facing lanai to avoid afternoon sun. We also didn't want a "kissing lanai". That's when the lanai looks directly onto another lanai.
Locations to avoid might be near power lines or sewage treatment facilities.
So, lots to think about. Making a list ahead of your must-haves and preferences will help you narrow your search.
Spend as much time in TV as you can before purchasing. You might consider renting for a period of time in different locations. Or, you might just find your dream house at the right price right away and jump all over it.
Many have.
Best wishes and keep us posted.