How many yrs. before retirement did you buy in TV?

[sbarron01]

Husband retiring in 7 yrs., mortgage paid off next yr., have a Feb. trip to check out TV. But already decided it's a "go" for me! (spent the past yr researching retirement communities). We're do-ers and TV has plenty to do. Question: How many yrs before retiring did you buy a house in TV? Or did you wait til retirement? And, while I know you're all a very helpful group of people(!), can you recommend any consultants who offer Q&A services to people relocating from outside the FLA area? It's my personality to want to ask the money/personal/tough questions to someone being paid to answer me. Is this something you think a Certified Financial Planner in FLA who knows TV might best be suited? ie: No kids so do we do a reverse mortgage down the road?, can this be done in TV? villa, condo or detached house? cash sale vs. mortgage, etc...

I'm so tired of my job and imagining a life in TV is the only thing keeping me going right now. : )

[Moderator]

bump for the OP. This new thread got stuck in moderation status for a couple of hours so has not been seen.

Moderator

[Villager Joyce]

Bought in August. Spent thanksgiving and Christmas holidays in TV. Moved the cat (that makes it official) in April.

[Trayderjoe]

We purchased about 8 years out from retirement. We found a newly built house we liked in a very good location at a great price and decided to go for it with no regrets. It really comes down to personal choice and your financial structure as there are pros and cons either way. Buying a house in the Villages is much different then buying land for building your retirement home at some point in the distant future. Your neighbors will change over time, and I think the main difference would be if you bought and moved into a brand new neighborhood with everyone else. My understanding is that it could be easier to establish friendships that way. There is plenty to do with all of the clubs in The Villages that you could potentially join, and as long as you are not totally introverted, you will be able to make friends easily. Good luck with your decision!

[jbdlfan]

Bought when we were 45 and 49. Not retiring for at least ten more years and we have several friends that have done the same. We are probably on the low side.

[Carla B]

In response to your question about finances and the suitability of reverse mortgages, etc. , there are numerous "advisors" around The Villages that bombard you with offers of free lunches in order to manage your investments, but financial planners are scarce. I really can't come up with the name of one. Maybe a tax consultant living in The Villages could answer your questions. There is a poster here, Jane_ _ _?, whose husband is a practicing CPA and they themselves relocated from out of state. I bet he would have some good answers. I can find his contact info if you would like.

[CWGUY]

:thumbup: Bought when we were 49 and 54. That was 10 years AFTER retiring. We were way too young to live here at retirement age. 50 and 55 when we sold other house and moved here.... never looked back. :beer3:

[2newyorkers]

We bought 4 years prior to retiring. We came down to visit our TV home almost every vacation. Slowly furnished and decorated the house. We have wonderful neighbors who always kept an eye on our home.

[villagetinker]

I was retired for 2 years, wife still working when we bought a lot and built. We moved down 2 DAYS after she retired, with the cat, so as a previous poster noted, that made it official. As for advisors, we use Ameriprise, but have not used to office in the villages area. I am still using my advisor from up North. He flies down 2 or 3 times a year for a face to face. He has several clients now is this area. This company has done very well for us.

[goodtimesintv]

Husband retiring in 7 yrs., mortgage paid off next yr., have a Feb. trip to check out TV. But already decided it's a "go" for me! (spent the past yr researching retirement communities). We're do-ers and TV has plenty to do. Question: How many yrs before retiring did you buy a house in TV? Or did you wait til retirement? And, while I know you're all a very helpful group of people(!), can you recommend any consultants who offer Q&A services to people relocating from outside the FLA area? It's my personality to want to ask the money/personal/tough questions to someone being paid to answer me. Is this something you think a Certified Financial Planner in FLA who knows TV might best be suited? ie: No kids so do we do a reverse mortgage down the road?, can this be done in TV? villa, condo or detached house? cash sale vs. mortgage, etc...

I'm so tired of my job and imagining a life in TV is the only thing keeping me going right now. : )

Don't bother to ask a certified financial planner outside of The Villages....this place is totally unique in FL and the nation. You would not believe how many people in other FL cities and other states think this is just one big nursing home, or that it's just another condo complex with crappy HOA like the ones they have in other cemetery-like retirement places in FL.

We bought here in our late forties and are still working. I have total confidence in saying this:

Just buy a nice, affordable villa (either patio or courtyard) for about $190,000, now. It's perfect for either seasonal or full-time living, and extremely easy to sell when you finally do retire, if you want a different home here.

I don't think you can go wrong buying a place that oodles of buyers can afford to buy if you change your mind later on. And the taxes and utilities are cheaper, too, than a "forever home" (their dream home in designer price range here) like a lot of people agonize over for years and years before buying here. You could also rent it out for 3-4 months in winter for $3,000/mo., to pay for most of your expenses.

Live your life while you have it. Prices and mortgage rates are only going to go up, so you might as well buy a modest, sensible TV villa now. Over time, even if you don't like it here, you'll have put your money into building equity in a very marketable property.

[bandsdavis]

Minus 1, unfortunately. We knew we wanted to move here but with a depressed housing market, we decided to wait until we sold our house in VA.

[l2ridehd]

Bought in 2008, retired in 2012, wife retired in 2016 and we made TV our full time home. I was able to spend a lot of time here from 2012 to 2016, but still had roots back in VA.

[alemorkam]

Bought at 49 and 52. 62 retired 8 years later, 49 still working. 52 is now 65.

[cms36]

Don't bother to ask a certified financial planner outside of The Villages....this place is totally unique in FL and the nation. You would not believe how many people in other FL cities and other states think this is just one big nursing home, or that it's just another condo complex with crappy HOA like the ones they have in other cemetery-like retirement places in FL.

We bought here in our late forties and are still working. I have total confidence in saying this:

Just buy a nice, affordable villa (either patio or courtyard) for about $190,000, now. It's perfect for either seasonal or full-time living, and extremely easy to sell when you finally do retire, if you want a different home here.

I don't think you can go wrong buying a place that oodles of buyers can afford to buy if you change your mind later on. And the taxes and utilities are cheaper, too, than a "forever home" (their dream home in designer price range here) like a lot of people agonize over for years and years before buying here. You could also rent it out for 3-4 months in winter for $3,000/mo., to pay for most of your expenses.

Live your life while you have it. Prices and mortgage rates are only going to go up, so you might as well buy a modest, sensible TV villa now. Over time, even if you don't like it here, you'll have put your money into building equity in a very marketable property.
Like your advise

[Blessed2BNTV]

Bought in 2012 retired for the first time in 2014. Unfortunately the folks who bought my company decided to stop paying me so I took the company back.
We are still young...late 50's and able to work. We go back and forth and every time we come back home it's like we are going on vacation. I love this place!

Before retiring we put together a budget and saw we could retire comfortably here.

I love this place....did I say that already 😀

[ColdNoMore]

While there is no guarantee that a home anywhere will always appreciate, here in the bubble you have a better chance of not falling as far in a recession.

The home I own now has 'supposedly' (per neighborhood comps, not Zillow/Trulia/Etc.) appreciated 55% since I bought 5 years ago.

Since this is the last of 9 homes I've purchased in my lifetime, it doesn't really matter to me though....as it is something my children will deal with.

If a person knows, without a doubt, that they want to retire here and they can swing it financially...buying now may be a very good option for them.

[ajbrown]

For us, we bought in 2007 after my wife was laid off. Doesn't everyone buy a second home right after losing an income :).

The fortunate(?) part for us is I was able to continue working remotely for a company in Lexington, MA and I still do today (I actually like it).

I do not think I would have bought a home if I could not have moved here (snow birds at the time). It is s personal thing, you have to look at how much you will use it, are you willing to rent to offset costs, etc. and compare that to the cost of ownership. Now speculate what it will cost for a similar home in five years.

Personally I would bank the money, rent in TV until I was closer then invest.

Someone else mentioned Zillow (Zestimate I assume?) and here is approximate value of my home. There are two numbers listed with each date which I find interesting:

Year: My home, The Villages average
2007: $232,000, $254,000 Purchase
2009: $188,000, $196,000 Low point
Now: $248,000, $246,000

Who knows how accurate that is, but I guess my gut feel is that prices will remain stable as there is always inventory, so unless I could find the perfect house, I would wait...

Now matter what you decide, good luck!

PS. We are full timers now, as owning two homes seperated by 1500 miles was expensive and a pain.

[Allegiance]

If you are buying with a mortgage it's probably a good idea to buy as soon as you can with historically low rates.

[Chi-Town]

Bought in May 2009, retired in November 2009.

[2BNTV]

Husband retiring in 7 yrs., mortgage paid off next yr., have a Feb. trip to check out TV. But already decided it's a "go" for me! (spent the past yr researching retirement communities). We're do-ers and TV has plenty to do. Question: How many yrs before retiring did you buy a house in TV? Or did you wait til retirement? And, while I know you're all a very helpful group of people(!), can you recommend any consultants who offer Q&A services to people relocating from outside the FLA area? It's my personality to want to ask the money/personal/tough questions to someone being paid to answer me. Is this something you think a Certified Financial Planner in FLA who knows TV might best be suited? ie: No kids so do we do a reverse mortgage down the road?, can this be done in TV? villa, condo or detached house? cash sale vs. mortgage, etc...

I'm so tired of my job and imagining a life in TV is the only thing keeping me going right now. : )

Don't bother to ask a certified financial planner outside of The Villages....this place is totally unique in FL and the nation. You would not believe how many people in other FL cities and other states think this is just one big nursing home, or that it's just another condo complex with crappy HOA like the ones they have in other cemetery-like retirement places in FL.

We bought here in our late forties and are still working. I have total confidence in saying this:

Just buy a nice, affordable villa (either patio or courtyard) for about $190,000, now. It's perfect for either seasonal or full-time living, and extremely easy to sell when you finally do retire, if you want a different home here.

I don't think you can go wrong buying a place that oodles of buyers can afford to buy if you change your mind later on. And the taxes and utilities are cheaper, too, than a "forever home" (their dream home in designer price range here) like a lot of people agonize over for years and years before buying here. You could also rent it out for 3-4 months in winter for $3,000/mo., to pay for most of your expenses.

Live your life while you have it. Prices and mortgage rates are only going to go up, so you might as well buy a modest, sensible TV villa now. Over time, even if you don't like it here, you'll have put your money into building equity in a very marketable property.

I agree with this advice but I think you are the best person who can decide if your finances permit you to carry two homes, that you can be financially comfortable enough to move down permanently. Real estate in TV will only appreciate in value, as time goes on. IMHO

No need to research retirement communities as there is no other place like TV, although several others, might like to think so. Renting for a month or so is a viable option, to determine where you might want to live, as TV is hugh.

I had to wait until I retired and sold my old place to move here and was like you, chomping on the bit, until the day I got here. Best decision I ever made and so thankful for the person who showed me TV.

I know several younger people, (mid fifty's), that are very happy to have been able to retire early and love it here!

[Boomer]

In response to your question about finances and the suitability of reverse mortgages, etc. , there are numerous "advisors" around The Villages that bombard you with offers of free lunches in order to manage your investments, but financial planners are scarce. I really can't come up with the name of one. Maybe a tax consultant living in The Villages could answer your questions. There is a poster here, Jane_ _ _?, whose husband is a practicing CPA and they themselves relocated from out of state. I bet he would have some good answers. I can find his contact info if you would like.



Carla, the CPA you are thinking of is Bob Bloom. I have never met him, but he used to post some very helpful information here on TOTV. (I liked his posts. Not only were they useful, but they appeared to be his own writing -- not just links to the words of others.) I am not sure if he still advertises here. But a Google will find him.

I, too, think that the right CPA can be the best advisor when navigating through all the decisions we have to be prepared to make when entering retirement -- and throughout. (I already have a CPA back home, but if I were looking for some big-picture help in TV (beyond just annual tax-filing) I would want to interview Bob Bloom.

To the OP,

I hope you will take your time. I don't think there is any reason to create a sense of urgency for yourself. A lot can change in those 7 years your husband has until retirement -- not only with your lives, but with TV, too.

Of course, if your present location is within a distance that would allow you to use -- or check on -- your TV home on a manageable basis, that would be a plus for buying early......but 7 years could be too far out.

(We bought after retirement and did so because it was the right house at the right time. We were in no hurry. One thing for sure about TV -- there always will be another house and I don't think anyone can be so sure prices will go way up.)

Actually, OP, when it comes to any big financial decision, after doing my homework, I always do one final, most important, test......the test that tells me every time what I need to know........I weigh each potential decision against The Cost of Sleep.

Boomer

[ColdNoMore]

Carla, the CPA you are thinking of is Bob Bloom. I have never met him, but he used to post some very helpful information here on TOTV. (I liked his posts. Not only were they useful, but they appeared to be his own writing -- not just links to the words of others.) I am not sure if he still advertises here. But a Google will find him.

I, too, think that the right CPA can be the best advisor when navigating through all the decisions we have to be prepared to make when entering retirement -- and throughout. (I already have a CPA back home, but if I were looking for some big-picture help in TV (beyond just annual tax-filing) I would want to interview Bob Bloom.

To the OP,

I hope you will take your time. I don't think there is any reason to create a sense of urgency for yourself. A lot can change in those 7 years your husband has until retirement -- not only with your lives, but with TV, too.

Of course, if your present location is within a distance that would allow you to use -- or check on -- your TV home on a manageable basis, that would be a plus for buying early......but 7 years could be too far out.

(We bought after retirement and did so because it was the right house at the right time. We were in no hurry. One thing for sure about TV -- there always will be another house and I don't think anyone can be so sure prices will go way up.)

Actually, OP, when it comes to any big financial decision, after doing my homework, I always do one final, most important, test......the test that tells me every time what I need to know........I weigh each potential decision against The Cost of Sleep.

Boomer

A very good, well thought out post. :thumbup:

[rubicon]

Husband retiring in 7 yrs., mortgage paid off next yr., have a Feb. trip to check out TV. But already decided it's a "go" for me! (spent the past yr researching retirement communities). We're do-ers and TV has plenty to do. Question: How many yrs before retiring did you buy a house in TV? Or did you wait til retirement? And, while I know you're all a very helpful group of people(!), can you recommend any consultants who offer Q&A services to people relocating from outside the FLA area? It's my personality to want to ask the money/personal/tough questions to someone being paid to answer me. Is this something you think a Certified Financial Planner in FLA who knows TV might best be suited? ie: No kids so do we do a reverse mortgage down the road?, can this be done in TV? villa, condo or detached house? cash sale vs. mortgage, etc...

I'm so tired of my job and imagining a life in TV is the only thing keeping me going right now. : )

sbarron Its good that you are thinking ahead on this issue and are exploring options However, in my view a very personal and hence almost impossible question.

In my view the dynamics (economy, issues within the community etc) I personally would not buy a property until I was ready to retire. Given the element of "uncertainty" you could well be faced with buyers remorse. There is so much to consider your present home your family situation the market today tomorrow or next year These and other considerations only you and your spouse understand best as well as your health and your comfort zone with taking risks.

[asianthree]

First visit was in 2007, and 2008. Bought our first house in TV in April 2010, house we could afford. Second house in November 2012, thought it was where we wanted to live in TV. Third house in 2014, finally found our forever home (or so far). DH retired when we bought house number 3. Is here 9 plus months a year.
I am still full time and come down month at a time couple times a year. Would I do it the same YES. First house was a stick your toe in the water and see if we loved it, and we did. It's about finically stable you are. We still maintain our 4 bedroom house up north on 1/2 acre. Will sell the year I retire. I love my job am not ready to jump on the TV train yet, but maybe in a few years.

[Villager Dude]

We purchased 2 years before retiring and moving down.

Looked at TV starting in 2002, came down at least every other year. Kept an eye on the market looking for a place we wanted. Then in 2010 we located it, came down the next day, put a contract on it , and rented it out for 2 years.

I really think the location is so important and sometimes you don't have this nailed down enough to jump into ownership. Those folks I recommend you rent for 6 months or a year . This way you can look around for the perfect model and location.

If you want to be an investor buy a Villa as another poster suggested , move in and take your time to look around and if you find the perfect place sell your Villa or keep it as an investment.

All your best in your move to TV.

[Packer Fan]

I will give you my view that somewhat differs from others. We have fallen in love with TV. We bought a home in 2013 and that is at least 10 years before we retire. We furnished it and are letting the renters pay it off. They are doing a heck of a job to. It is largely a financial decision as I was looking at diversifying my investments anyway. Based on my experience we are going to probably buy a second house when we pay off the first late next year.

I have to disagree about a Villa though. Why buy a Villa for $185-$200K when you can buy a designer for $240-280? The payments are not that much more. More people to rent to and you get more than enough rent to offset the difference. My designer is rented from September to April for the 3rd year running. Very positive on the cash flow. I would buy a stripped down designer (no granite counter tops, etc) for the renters. You get no extra for the upgrades anyway. Location is important - close to pools and probably south of LSL

As far as appreciation - It appears Designers have fairly good appreciation for the normal run of the mill ones. I have been looking at Designers with a view - not so sure they are climbing as much, but not going down either.

The nice part about having the home is we come down about 3 times a year when we don't have renters (ok, so May and August are not prime Florida season, but anytime is GREAT in TV). Free vacation basically.

There are several websites that help with renting, so it is easy and you don't need a management company, just a home watch.

I figure it this way, in the next 10 years, prices are only going to go up, and the rent is going to keep coming in. Rents have gone up every year for a long time.
Ed

[MN2FL]

i would strongly recommend renting several times before buying. Try different styles of homes in different areas of TV to get a taste of what is here and what activities you will like. We rented about a dozen times and learned a lot along the way, and it is great to be able to pack up and leave at the end of your stay and not have to have your home cared for while you are gone. Now we rent our home out most of the year, and keep Nov for ourselves until we get here full time. Best of both worlds.

[sbarron01]

Thanks everyone for all the info! Just got back from visiting my husband's parents who live in a CCRC in upstate NY. It's a beautiful place, but small (<300 people) and barely any activities. Actually, I found it somewhat depressing but I look on the bright side that 1.) they're happy, 2.) I'm still active and 3.) there are places like TV that are full of activities. So the 1st thing on my list, after reading all the comments, is to start spending some time at TV. And by the time we've explored the entire community...it'll probably be time to retire anyways! I appreciate the time you all took to write and all the positive experiences you've had buying in TV. thx!, Suzanne

[ColdNoMore]

Thanks everyone for all the info! Just got back from visiting my husband's parents who live in a CCRC in upstate NY. It's a beautiful place, but small (<300 people) and barely any activities. Actually, I found it somewhat depressing but I look on the bright side that 1.) they're happy, 2.) I'm still active and 3.) there are places like TV that are full of activities. So the 1st thing on my list, after reading all the comments, is to start spending some time at TV. And by the time we've explored the entire community...it'll probably be time to retire anyways! I appreciate the time you all took to write and all the positive experiences you've had buying in TV. thx!, Suzanne

Spending as much time as possible here before buying, is a very smart thing to do.

Because of the vast expansion of TV in just the last 8 years since we first rented, the old saw about....location, location, location...becomes very important.

While the newer homes south of 466A generally come with more amenities (golf cart garages/updated kitchens/etc) than the average home built north of 466A, I tend to think it is to entice folks so that they don't notice that they are further away from the heart of TV...which I personally believe is the Lake Sumter Landing area.

But hey, each person needs to make their own determination as to what is most important to them and make their decisions accordingly.

Good luck in finding exactly what you want. :thumbup:

[REDCART]

Thanks everyone for all the info! Just got back from visiting my husband's parents who live in a CCRC in upstate NY. It's a beautiful place, but small (<300 people) and barely any activities.

May we assume CCRC stands for the generic continuing care retirement community. Is that the same as an assisted living facility?

[JerryLBell]

Bought in May of last year and hope to retire and move there early next year (stock market willing!), so a little less than 2 years.