New or Resale homes (purchase)

[jaspal]

I hope to be a home owner in TV. I've looked at resale homes & new homes. I thought at first that it might be less to buy a resale home but believe that maybe the best route to take would be a new home.

Can others who are looking (as well as those who own) give me their feedback.:highfive::highfive: )(love these smile faces).

I am surprised at the prices of lots in Pennycamp. I'd like a lot which would accommodate a lanai pushed out as well as an extended garage.

Thank you for any help:clap2:
Pat

[BobKat1]

I hope to be a home owner in TV. I've looked at resale homes & new homes. I thought at first that it might be less to buy a resale home but believe that maybe the best route to take would be a new home.

Can others who are looking (as well as those who own) give me their feedback.:highfive::highfive: )(love these smile faces).

I am surprised at the prices of lots in Pennycamp. I'd like a lot which would accommodate a lanai pushed out as well as an extended garage.

Thank you for any help:clap2:
Pat

I'm not familiar with Pennecamp. Were you suprised at the prices of lots in a good or bad way?

[bike42]

Friends of ours got a great deal on one of the model homes just behind the new SeaBreeze recreation center, off Bailey Trail. They are being sold fully furnished and TV pays the closing costs. Ask your TV sales rep about them.

[TednRobin]

Friends of ours got a great deal on one of the model homes just behind the new SeaBreeze recreation center, off Bailey Trail. They are being sold fully furnished and TV pays the closing costs. Ask your TV sales rep about them.

Where? Are they listed? Thanks.

[Mikitv]

We purchased a lot in Pennecamp that had some privacy in the back so that adds to the price of the lot. We also needed a lot that would accommodate extending the lanai and the garage and front room on the house. Best thing is to pick the style of house you like and go from there. Our Realtor was great about listening to what we wanted and working out pricing till we got what we wanted. Good Luck

[TrudyM]

When we took into account the cost of the home ready to move into, I have concluded that resale would be a better value. However new construction has the bonus of everyone moving in at about the same time so no established clicks. The $10,000 settlement charge at closing for utilities hookup on new construction, I found to be especially off-putting.

Also Engineer hubby thinks that any settlement of the lot would have already occured in a house thats a few years old (sink holes not withstanding) so potential structural issues would have already been dealt with. Resulting cracks in slabs are not uncommon in most of the country, I assume the villages is no different.

I found a good reference to be: "Why buy preowned" on lyle grant's site
http://www.lylesellsfla.com/frame.shtml?http://root.z57.com/filemanager/uploads/9/5/95d6d35e-9bdb-d460-16cf1ecceebe4e84.pdf

I am researching this thing to death, and wish you all the luck, don't overthink it like I am it will keep you up nights.

[Lou Card]

When we took into account the cost of the home ready to move into, I have concluded that resale would be a better value. However new construction has the bonus of everyone moving in at about the same time so no established clicks. The $10,000 settlement charge at closing for utilities hookup on new construction, I found to be especially off-putting.

Also Engineer hubby thinks that any settlement of the lot would have already occured in a house thats a few years old (sink holes not withstanding) so potential structural issues would have already been dealt with. Resulting cracks in slabs are not uncommon in most of the country, I assume the villages is no different.

I found a good reference to be: "Why buy preowned" on lyle grant's site
http://www.lylesellsfla.com/frame.shtml?http://root.z57.com/filemanager/uploads/9/5/95d6d35e-9bdb-d460-16cf1ecceebe4e84.pdf

I am researching this thing to death, and wish you all the luck, don't overthink it like I am it will keep you up nights.

The $10,000 settlement charge at closing for utilities hookup on new construction, I found to be especially off-putting.

I think this 10,000 got up to 12,000, however, is now rolled into the price of the home and is no longer an amount you need to consider when doing your comparison. I will check with my realtor today as I am about to close on a new home and have not heard of this being part of the buying process anymore.:confused:

Lou

[askcarl]

could you explain the "settlement" $10,000 comment please?

I have an option on a lot in Buttonwood. We are still looking around the Tampa/Orlando area so, the Agent told us we could take the lot off the market for 60 days for $2500. Money to be subtracted form the final house price, if we decide to buy TV. Seemed a good deal so we can take our time, not be rushed to a decision.

Anyone else have input on closing surprises?

Carl

[Bryan]

I actually looked at both when I moved here and ended up with a pre-owned home. Just happened to find a lot and house that I really liked. Two major items influenced my decision. One was the landscaping - I am not into that big time so I wanted a home with "mature" landscaping. Sure, my bride tweaked it some but not a whole lot once we moved in. Basically, it had mature trees and bushes and shrubs already in place. The second was the bond. To start with, the older the area, the less the bond was initially (I have heard they can be up to $20,000 now, mine was $5,000 when the house was built). When I purchased, the bond was about 1/3 paid off already. I was actually looking for a resale that had "bond paid off" but never found one I liked with no bond so this was a (little) compromise.

[l2ridehd]

Pre-owned is almost always cheaper. The things you need to place against the new are all the things you will do in the first year that are already done in a pre-owned. Landscape, attic stairs, paver's, fans, blinds, bond balance, and probably many others. And the fact that the list price of a pre-owned is something you can make an offer against. When you look at all that, it is probably between 30K and 40k savings on pre-owned vs a direct price compare to new. And you can see what your getting already done. Yes you may spend some money to get it the way you want, but a lot less then new. Also I agree with TrudyM, settling has already happened and you can see those issues as well.

[Lou Card]

Talked to my Villages Agent this morning and verified, the new home charge referenced above as a $10,000 add on at closing is no longer done.

In reference to new or preowned, I did extensive research with spread sheets, flowcharts, grafts etc. Yea Yea I know OBSESSIVE COMPULSIVE. I'm retired with the time, so why not get the best bang for my buck. I found that house for house with a view, golf course lot, water view and the like, you can save a lot buying used. However, when I compared homes with standard interior lots, I found a substantial savings buying new. We went with an interior Lot in St Charles Place and the IRIS home with golf cart garage.

See yall in about 3 weeks. :MOJE_whot:

Lou & Patti

[jaspal]

Thanks for your reply. What is this "The $10,000 settlement charge at closing for utilities hookup on new construction,". It is interesting how we come to know these "little extras" indirectly. I will have to ask my agent about this!!!

[nina43]

One major consideration a lot of people ignore when buying new is LOCATION
Once you live here you do not go to the square every night.
You may want to be convenient to things like restaurants, major shopping malls,entertainment in Savanah center and Church on The Square, the hospital etc. Many older homes are more convenient to places you will
be traveling to on a regular basis. Plus when you truly add up all the costs
pre-owned in the long run cost less. You can always paint and replace
carpet pretty cheaply but you cannot move the home. Also once new
home areas are all gone LOCATION will be number one on buyers list.

[Indy-Guy]

In 2005 I closed on a Stucco Villa in Poinciana the closing cost were $9,229. I have the paper work in front of me.

My wife and her sister close on Monday 4/19/10 on a Patio Villa in Mangorve Villas in Pennecamp next to the premier homes and surrounded by executive golf courses and Cane Garden Championship great location. Thier total closing cost is $777.82 they are paying $54.00 Amenities fee from 4/19/10 to 5/01/10 Assessments 4/19/10 to 10/01/10, Fire assement $114.75 for a total of $777.82 I have the paper work in front of me.

As you can see the market is different today than it was in 2005.

We looked at both new and used. The 2/2 Patio Villas in Mangorve Villas start at $129,000 I just looked at The Villages websit and the least expensive Patio Villa South of 466 is listed for $139,900 and it is around 4 years old. You could sure upgrade and landscape a Patio Villa and go crazy on $11,000 dollars difference and have a new one. Just our thoughts.

[bike42]

Where? Are they listed? Thanks.

They are located on Dutchess Loop, off Bailey Trail, just behind the new Sea Breeze recreation center. They are not in the home listings (that I can find) but "Designer Home Model Center now available, starting at $180,000" is being advertised in the Daily Sun (see the local section of today's paper). Call your TV sales rep or 753-6700; he/she will be able to tell you what's available.

[jeffy]

I think the $10000 that was referenced may be the bond for a villa , not settlement charges. It is correct that TV now pays all closing costs on their new homes. Our inlaws bought a year and a half ago and TV paid for everything as far as closing costs. When we bought 4 years ago, yes we did have to pay all the closing costs.

To me the biggest advantage of buying preowned is that you can buy where you want to live. You are restricted to three or so villages if you buy new.

jeffy

[jeffy]

could you explain the "settlement" $10,000 comment please?

I have an option on a lot in Buttonwood. We are still looking around the Tampa/Orlando area so, the Agent told us we could take the lot off the market for 60 days for $2500. Money to be subtracted form the final house price, if we decide to buy TV. Seemed a good deal so we can take our time, not be rushed to a decision.

Anyone else have input on closing surprises?

Carl

We have had nothing but the utmost respect for the villages builders and realtors. We have never had any surprises. Look around all you want, but if you do not buy in TV , you will probably end up regreting it. My parents bought in Stonecrest after I tried to talk them out of it. They put their Stonecrest home on the market 4 months later. It took them a year and a half to sell it and finally come to TV.

jeffy

[Russ_Boston]

They are located on Dutchess Loop, off Bailey Trail, just behind the new Sea Breeze recreation center. They are not in the home listings (that I can find) but "Designer Home Model Center now available, starting at $180,000" is being advertised in the Daily Sun (see the local section of today's paper). Call your TV sales rep or 753-6700; he/she will be able to tell you what's available.

I have seen many of these furnished homes on Dutchess loop on the website. But they are only lasting a couple of days before being snatched up.

[soldjudy]

We just returned home today to Missouri from a weeks stay in the Villages. We did buy a lot in Pennecamp and I was shocked to see info about $10,000 closing costs because of utility hookups that we were never told about - can it be true?

We are anxious to start our new home next year and sometimes get concerned over the statements we read here. I sure hope everything works out because we sure do love the concept of the Villages and have really enjoyed all out stays.

[Russ_Boston]

We just returned home today to Missouri from a weeks stay in the Villages. We did buy a lot in Pennecamp and I was shocked to see info about $10,000 closing costs because of utility hookups that we were never told about - can it be true?



I think if you read all the posts on this thread you'll see that there is no $10K cost any longer.

[jaspal]

What type of a lot did you put an option on? how long before they make you build?

Pat

[Pturner]

Pre-owned is almost always cheaper. The things you need to place against the new are all the things you will do in the first year that are already done in a pre-owned. Landscape, attic stairs, paver's, fans, blinds, bond balance, and probably many others. And the fact that the list price of a pre-owned is something you can make an offer against. When you look at all that, it is probably between 30K and 40k savings on pre-owned vs a direct price compare to new. And you can see what your getting already done. Yes you may spend some money to get it the way you want, but a lot less then new. Also I agree with TrudyM, settling has already happened and you can see those issues as well.

That's what we found too l2.

[jaspal]

What is --Dutchess loop on the website.

[Barefoot]

Pre-owned is almost always cheaper. The things you need to place against the new are all the things you will do in the first year that are already done in a pre-owned. Landscape, attic stairs, paver's, fans, blinds, bond balance, and probably many others. And the fact that the list price of a pre-owned is something you can make an offer against. When you look at all that, it is probably between 30K and 40k savings on pre-owned vs a direct price compare to new. And you can see what your getting already done. Yes you may spend some money to get it the way you want, but a lot less then new. Also I agree with TrudyM, settling has already happened and you can see those issues as well.

I agree with 12ridehd. Most people spend thousands of dollars in a new home getting it painted, adding landscaping, california shutters, painting the driveway, adding solar tubes, birdcages, attic stairs, blinds, etc.

If you buy a resale you'll probably end up in a more central area close to shopping. We go to Publix and Fresh Markey far more often than we go to Lake Sumter! If you buy a resale there many upgrades and additions that are included for lots less than if you added them yourself. Bonds are often quite a bit lower in resales, or paid off completely.

Plus you can enjoy mature trees in your neighbourhood, and see the neighbourhood as it exists. Many resales have beautiful golf or water views.

[Russ_Boston]

What is --Dutchess loop on the website.

You can see it on a map here: http://sumtergis.com/GIS/ Just put in Dutchess into the search box.

Or you can see new homes here: http://www.thevillages.com/homes/new/homefeatures/qsearch.aspx

But all the ones that were listed on Dutchess are sold. Seems like they put a few out every week for the past few weeks though so keep checking.

[robbie]

If you are signed up for TV monthly VMAIL, there is always a link on the first page for all the available neighborhood closeout specials. The April Edition came to me on April 6th and all of the model closeout's were listed. I was only checking Designer Models but i can tell you on the first day there were 18 closeouts. By the end of the second day they were down to 7 and now i see that they only have 4 left in the village of St. Charles. They were a great buy and sold very quickly but next month will bring all new closeouts so get on the list! Sign up is on TV homepage bottom left corner. Hope this helps!

[Russ_Boston]

If you are signed up for TV monthly VMAIL, there is always a link on the first page for all the available neighborhood closeout specials. The April Edition came to me on April 6th and all of the model closeout's were listed. I was only checking Designer Models but i can tell you on the first day there were 18 closeouts. By the end of the second day they were down to 7 and now i see that they only have 4 left in the village of St. Charles. They were a great buy and sold very quickly but next month will bring all new closeouts so get on the list! Sign up is on TV homepage bottom left corner. Hope this helps!

Just FYI: All of the closeouts listed on the VMAIL are available at http://www.thevillages.com/homes/new...s/qsearch.aspx (http://www.thevillages.com/homes/new/homefeatures/qsearch.aspx) as well.

[jaspal]

Hope there are some when i come down the first of June.

[Russ_Boston]

Hope there are some when i come down the first of June.

There's always another one! :)