Just returned from first visit to TV--a few questions???

[angel222]

Hi everyone.....I just returned from my first visit to TV - awesome is an understatement!! I looked at the new model homes and attended a number of open houses that were advertised in The Sun. I'm really confused as to how come the previously owned homes that were the same model as I saw in Hemingway were selling for higher prices than the new ones. TheVillages real estate person said it was because of updates that were in the old ones but they were so minimal that my logical mind can't seem to say this is the reason. I'm wondering if its because the new area seems so far away from the town squares (I'm not sure if the golf cart would be a comfortable ride to Sumpter let alone Spanish Springs). They said a new square was to be built but not for three years. The new models were beautiful but I'm not sure if thats enough. Any comments or advice would be really appreciated. I'd like to rent for a month or so before I buy (if I can sell my present home in this market) and I'd like to be prepared with as much info as I can. Everyone I met on my visit last week were so nice and easy to talk to -- my worries of moving there alone just seemed to disappear.

Thanks for any help .....its rainy in NY and the traffic is horrible -- Help!!

[njgranny]

I think if you look around at the homes local realtors have for sale, you can find some bargains.

All kinds of things seem to come into play, such as the lot, the location of the house, etc.

We really liked the areas around Spanish Springs, so I think that's where we'll concentrate when we really start looking. That means we'll have to go for a pre-owned.

Can't wait to get back. Glad you enjoyed your preview, too.

Jan

[graciegirl]

We bought new n Hadley and it isn't very far from Sumter Landing. It is safe to be in a golfcart after dark and really kind of fun to drive around in one. The houses already owned probably sold for more new, the downturn in the economy has priced the new houses lower than they were a couple of years ago.

[bsliny]

Angel222 I'm also from NY (BAY SHORE) I think location is a factor in the price of the house i know it was for me I can walk to Spanish Springs in a few minutes
Good Luck in whatever you decide
:hot: :hot: :hot: :hot: :hot: :hot: :hot:

[MikeH]

Have you considered that some of the pre-owned homes you saw were just overpriced? The word that comes to mind is "Greed". There are some bargains, however. Also, could buy a new home and then add what you want that it doesn't have. As to golf carts, an electric cart will get you from anywhere you are to anywhere you want to go and back with no problems. We use ours as a primary mode of transportation---the car sits most of the time. Colony Cottage area is only about 3.5-4 miles to Lake Sumter Landing---you could walk it. Nothing is THAT far away in The Villages----unless you're used to a Convenience Store on every other corner.

[bimmertl]

On any purchase in TV you need to ask about the bond. On the new homes the bond is never "paid" so it's in essence an addition to the purchase price. On resales the bond could either be the same as new, paid off completely by the current owner, or be lower than the bond on some of the new homes.

On some new designer homes the bond is around $22,000 as we were told at a recent open house on new homes. Of course, it's never mentioned in the brochures or by the sales person unless you ask.

Only way to have any idea of trying to figure out if you are comparing apples to apples is to be sure to ask about the amount of the bond on new, and balance of bond on existing homes. That's the starting point. From there consider options, upgrades, location etc.

[Villages Kahuna]

We looked at both new and pre-owned when we came down two years ago. After visiting a half dozen pre-owned homes I asked our sales rep, "Are these people nuts?" We quickly concentrated on only new models, which we eventually bought.

I wouldn't worry too much about being too far away from things. We live in Mallory Square--2 mies from Lake Sumter Landing and about 6 miles from Spanish Springs. Even the golf cart ride to SS takes less than 20 minutes. Many of the new houses will be equidistant from both LSS and the new town square, Brownwood. And Brownwood will be up and running a lot sooner than you think. Time flies when you're having fun!

[samhass]

Greed is not always a factor. Some of us purchased homes in early 2006 at the top of the market. I then customized the home, did pavers, landscaping, high end sound system and paid off the bond. I have the home up for 30K less than I have invested in it. That is not greed. It's also why I am not pushing to sell it. I'm blessed to be in the position that I don't have to sell. The market will turn in a couple of years. I can wait.






Have you considered that some of the pre-owned homes you saw were just overpriced? The word that comes to mind is "Greed". There are some bargains, however. Also, could buy a new home and then add what you want that it doesn't have. As to golf carts, an electric cart will get you from anywhere you are to anywhere you want to go and back with no problems. We use ours as a primary mode of transportation---the car sits most of the time. Colony Cottage area is only about 3.5-4 miles to Lake Sumter Landing---you could walk it. Nothing is THAT far away in The Villages----unless you're used to a Convenience Store on every other corner.

[JohnN]

we bought new and couldn't be happier.
The resales are generally overpriced, in my humble opinion. best wishes

[angel222]

Thanks so much for the info - especially the golf cart distance/times to town squares. Does anyone know the average cost for the electricity used by the golf carts? The bond on the new homes was not mentioned by the real estate person so I really appreciate the "heads up"....the real estate person did mention the bond on the resales though and said that you would never really want to pay the bond off early - the reasons given were very cloudy. Also, has anyone ever bought a new house furnished??

Thanks again,
Angel
(NY - Coram, Long Island)

[villages07]

Angel,

Golf cart electricity usage is minimal...we had heard maybe $9/month; we use our golf cart all the time and our elec bill is right in line with our neighbors.

Bonds on new designers are about $22K..yes, you need to factor this into your buying decision. The most common advice I've heard is to wait a couple of years before paying it off...to make sure TV is for you and you intend to stay in the house you bought rather than trading up/down/around. You rarely recoup the cost of the bond with a resale. On the other hand, if you want to be debt free, don't want to pay the approx 6% interest on the bond for 30 years, and expect to live in your TV house for 20+ years, and can afford the lump sum, then maybe paying off the bond is the way to go. It lessens your annual property tax bill (the collection method for bond) by $1,000-$1,500/year (depending on the amount of your bond).

Can't help you on the 'furnished' question.

[xNYer]

There are many extras in resales you may not have noticed.

In addition to upgrades the original purchaser may have paid, there may have been changes which can be costly which were added on later.

Resales come with washer dryers, often have enhanced landscaping,stones added to the landscaping, bonds may have been paid, blinds have been installed, screens may have been added, solar tubes installed, driveways painted, etc.

It's not an easy comparison to make. You can search by address or owner name.

Hope this heps





You can go to the county website appraiser's office and find out what the original homeowner paid. Y

[JohnN]

bonds on new patio villas are $10K-12K

[carlent]

just me humble opinion here:
To me it is a no-brainer! Re-sale is the most effective way to go for so many reasons.

1. mature neiborhood
2. added landscaping
3. added window treatments
4. painted drive
5. enhanced color's - ie interior painting
6. solar tubes
7. lania upgrades
8. birdcage ad on's
9. enhanced baths ie; tile shower stalls etc.,
10.enhanced kitchen's...huge!!!! big bucks in upgrade appliances, flooring, countertops etc.,
11. landscaping upgrades
12. upgraded flooring in all rooms
13. screened garage doors
14 upgraded garage storage....racks, pegboards etc.,
14. washer/dryer and upgrades to basic units
15. upgraded A/C...HUGE....new units are often sized correctly from new undersized units thus reducing your energy costs.

all of this and more....in a developed araea with nice trees and grass and a neiborhood that looks super nice....instead of bronw grass and weeds and a feeling that you are moving into the desert in some of the new home area's

16. Did i mention the close in feeling to the squares....you are not out in the hinterlands in the burbs where you could be living anywhere.....why not get into the flow, the action, the "hot" spots and be in a developed mature area near "stuff"

Again....just my 2 cents worth...for what it is worth!!! LOL


Carlent

[jadebox]

:agree:

Location--Location--Location!!!! This was our first priority when buying. We are the ones who took The Villages map and put a circle out around a mile or a mile and a half from the place we most wanted to hangout at and showed our realtor the map so he could show us homes in that area. ( new or used)

[Sidney Lanier]

Before anything else, let me emphasize what's already been mentioned several times: Whether new or resale, be conscious of the bond!!! New houses necessarily have bonds, and you're right: Often the bond is not mentioned (or emphasized) by the salesperson.

This said, when we came we were clear that we wanted a resale, as Carlent said, for us not so much from the point of view of price but the fact that, as Hope just mentioned, location and the fact that I'd been through construction of a new home years ago and sure didn't want to do it again. We knew we wanted to be near the area around the library and the Lifetime Learning College but on the south side of CR-466, so an easy run to LSL. We concentrated on a five-village area, though we looked in other areas and at new construction just so we'd feel that there wasn't anything we missed.

We ended up with a resale in exactly the area we wanted; however, we're snowbirds and had been looking at Patio Villas, but we ended up with a Designer because notwithstanding asking prices, with a resale there is the give-and-take of negotiating (which there absolutely is not with new!), and we bought our Designer (with its bond having been by the original owners and with some upgrades!) for not much more than the Patio Villas we had been looking at! It did help that we ended up buying privately rather than through our TV salesperson, whom we highly recommend, or our MLS salesperson, but this is another story. We check the ads periodically and have yet to see another comparable buy, resale or new.

Anyway, that's our story. If we can answer any other question, send a PM and we'll do the best we can. Good luck!

[Barefoot]

just me humble opinion here:
To me it is a no-brainer! Re-sale is the most effective way to go for so many reasons.

Obviously new versus resale is an extremely individual decision. We bought resale (4 years old). The bond was paid. There were many extras included and we were able to negotiate a real bargain. Plus we loved the more mature look of the area. And being closer to the Town Squares and Southern Trace.

I can just emphasize what others have said: when comparing prices, whether new or resale, always add on the bond! Some of the bonds on new houses are huge. Village Agents don't like to talk about bonds, you have to always ask that question.

[JohnN]

carlent and others have valid points regarding resales,
however it's not a no-brainer, or nobody would buy new or even ask the question.

we just bought a new patio villa, reasons included

1) location, location, location - village hemingway, 2 blocks to the neighborhood pool, 1 mile to grocery/restaurants on 466a, 3 miles to Lake Sumter Landing via Canal St which is our personal favorite (no centrums, nice wide cart paths).

2) new neighborhood - we enjoy watching folks move in, all in the same boat as us

3) new house - unsure which models don't have washers/dryers, but ours had all appliances, troweled (not popcorn) ceilings, top rate (not no-name) fixtures on the plumbing, nicely finished light fixtures, blinds, knobs, etc. Also, the brand new roof, HVAC, no holes in the wall, etc

4) 1 year builder's warranty - which is pretty good, I think

5) clean slate for decor - sure, resales may have plenty of stuff done, but taste varies and some things, I just prefer to do my way. I want my own landscaping design, my own flooring, lanai, etc etc

6) orientation - we like shade, our living areas and lanai face to the east and north, not the sunnier south and west sides.

7) price - our patio villa was nicely finished out and brand new, there was not a comparable existing resale within $10K, and many of those starting low had zero upgrades.
Many folks still build in their real-estate comission, and some hedge and profit, and list at what they'd like to get. In my opinion. There are obviously good resales around (previously , I'd always bought resales), but in this case, new fit better.

To me, respecting other opinions, it was a no-brainer to go new.
However, each person has different tastes and different needs, so do what's best for youu.

Best wishes in your choice. Regardless of what you choose, The Villages is GREAT , especially the people.

[captain1202]

We bought a resale last November. Just out of curiosity, I had my realtor do a CMA a few weeks ago as I was interested to see how our investment was doing. Fortunatley it's doing OK, BUT, on the comparable properties, it was interesting to see the actual selling price vs. the asking price. On average, I would say they are about 15% lower for the group. These were sales since December thru end of May.

A friend who has bought and sold a number of homes says" if you are not embarrassed by your offer it's not low enough" ;D ;D.

New or used? It's personal, but I think you have an opportunity to get much more future value, particularly in today's market, but it does take some looking. The right house for you is here....somewhere.

[l2ridehd]

IMHO resale is the best way to go for all the above reason's and a couple more. BOND.* In most every home I looked at there was a 10K to 12K difference at a minimum in the bond and sometimes as much as 20K.* So add that to every new home.* I also wanted a very Villages central location so new options were very limited.* I also refused to buy any where I could see or was near to the metal angels. (power line towers).* But the most important to me was with a new home I think you need to be there full time to make sure you exercise all the many items to get your 1 year warranty things identified and resolved.* Being a snow bird, I did not want a new home for this reason.*

Make sure you consider all those extras in the resale home that the new ones don't have.* There are always about 5K to 10K in extras and some have as much as 30K in extras.* Things like tile floors, birdcages, granite counters, solar tubes, painted driveways, blinds, curtains, extra towel bars and upgraded faucets, etc. don't come cheap.* And almost all resales have some of these things that new ones don't.

For me resales provide the best bargin even though the base price might be higher.* Also you can make offers on resales where new ones are fixed price.*

[carlent]

JohnN
You make good points and I respect your opinion........but I still think a resale is a no-brainer! LOL


Carlent

[retiredguy]

Just the $20K+ bond would make my mind up. I could use some of that to make improvements on a pre-owned.

[lm01]

Hi - You may want to consider the following reasons.

Bonds in many resale areas are much lower. In Hacienda my bond was 561.00, now compare that to new home bonds.

Take a look at your closing cost also. For a new home you pay for EVERYTHING for a used home the owner pays.

Take a look at the county hook up fees and impact fees on a new built home. Oh my!!!!

Lastly I can say DO your home work and don't be afraid to bargain.

Good luck

[graciegirl]

Carlent. Some of the things you consider pluses I consider minuses. I don't want someone elses paint color or wallpaper. Tile and appliances date quickly. I don't want someone elses landscaping. Things grow so fast here people don't keep up with cutting them back. I don't want other peoples choices. I am like John. Give me the blank canvas and it is so much fun to meet all of the other newbies on the street, you aren't left out because nothing has begun yet. What fun!!

[chelsea24]

I agree with you on that Gracie. I always like new. We had our last house build also. But that's just me. We did look at quite a few pre-owned and they were beautiful, but it really does come down to a personal choice. I really do feel that a new house is like a new canvas for a painting my memories. I didn't want to buy someone else's memories. I know that's weird, but again, it's really a personal decision.

All of TV is completely and easily accessible and all is beautiful for different reasons. I love the historic side too for all the beautiful landscaping. It's a hard call, but I know you'll be happy here. I haven't gone into a house here that I haven't loved and it's mostly because I love the people that live there! Great people here angel. :welcome:

[Happy62]

just me humble opinion here:
To me it is a no-brainer! Re-sale is the most effective way to go for so many reasons.

1. mature neiborhood
2. added landscaping
3. added window treatments
4. painted drive
5. enhanced color's - ie interior painting
6. solar tubes
7. lania upgrades
8. birdcage ad on's
9. enhanced baths ie; tile shower stalls etc.,
10.enhanced kitchen's...huge!!!! big bucks in upgrade appliances, flooring, countertops etc.,
11. landscaping upgrades
12. upgraded flooring in all rooms
13. screened garage doors
14 upgraded garage storage....racks, pegboards etc.,
14. washer/dryer and upgrades to basic units
15. upgraded A/C...HUGE....new units are often sized correctly from new undersized units thus reducing your energy costs.

all of this and more....in a developed araea with nice trees and grass and a neiborhood that looks super nice....instead of bronw grass and weeds and a feeling that you are moving into the desert in some of the new home area's

16. Did i mention the close in feeling to the squares....you are not out in the hinterlands in the burbs where you could be living anywhere.....why not get into the flow, the action, the "hot" spots and be in a developed mature area near "stuff"

Again....just my 2 cents worth...for what it is worth!!! LOL


Carlent


:agree: :agree: and new bonds and CDD are CRAZY... I bought new and will nefver do it again...

[zummy]

This is what makes the world go around. We bought a new courtyard villa that included 24,000.00 in funny money to completely furnish it and a brand new tricked out golf cart from the Village stores.

The bank appraisal came in at a value above the total cost leaving us with a great deal, IE free furniture and golf cart! They are no longer offering this deal apparently.

What ever you decide, I think this place is heaven on earth.

[Peazoup]

If you can find a resale to your liking, location, style, price, etc., IMHO you're much better off financially because - the bond is paid down if not paid off, - landscaping has been done, and closing costs are negligible. Even title insurance is paid by the seller of a resale, whereas if you buy new, that expense is yours. I bought a resale close to 466 and shopping and really appreciate the convenience (although you're never that far away from convenience anywhere in The Villages). Keep an eye on Lyle Gant's website as well as The Villages for resales as there are many very good buys out there.
Good luck to you.