Its tough for me to come up with any big negatives but here are a few minor things:
1) The Villages is sort of in the middle of nowhere so full scale shopping malls, fine dining, professional theater, etc you find in metro areas are over an hour away.
2) Prices (housing, gas, groceries, etc) tend to be a bit higher than surrounding areas.
3) It is a very politcally conservative community. As someone who tends to be more of a liberal, I do at times feel like a fish out of water. Fortunately most people (including me) don't talk politics.
4) Crowds during the winter
As I said, these are all very minor and I happily accept these "negatives" because my list of what is wonderful about this place would be 10x longer.
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