Quote:
Originally Posted by graciegirl
Apparently not an increase as those prices that Jimbo and others have shared aren't much different than the price of our bond for a Camellia in 2008.
I still wish that they were included in the price of the home so that it wouldn't be so different and so confusing. All it is, is the price of the roads and electrical lines and water lines and all that stuff that other builders back north always include into the price of the home itself. Here it is separate. I always tell people to add about 21K to the price of a designer and you will get the "real" price.
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Agree. I find it surprising that the FTC has not taken action against the Developer for that very reason. The advertised price of new homes is deceptive, and this benefits the Developer, who is competing against lower-bonded pre-owned homes. (Sorry, I know that you hate anything critical of the Developer, and I do appreciate the fact that the Developer has built a nice place here, and I am not about to leave.)
However, what you tell your friends is not exactly right (even assuming your $21K is correct). Simply adding the bond to the advertised price doesn't reflect the fact that the interest rate on the bond is higher than the interest rate on a mortgage, and that can make a significant difference in cost over the years.