New Lookers

[Reefer]

My wife & I are a number of years away from retiring (5 - 8 years), but we have been searching around on line at homes at The Villages and have a couple of questions...
What does it mean when it says "Bond has been paid"
Also - are there HOA fees involved at TV. I assumed there would be but never see anything listed in the listings.
Thanks,
Reefer (& the Reeferette of course)

[chuckinca]

Many homes built in TV have a bond that covers the site work, roads, utilities, etc. The original amounts vary by location. An ad stating bond is paid is a good thing; no mention of bond may mean it isn't paid.

Yes TV has HOA fees, currently around $135/mo. Also an annual fee of about $500 or so that varies by location.


.

[Pturner]

Hi Reefer,

A one-time capital bond is assessed on every home in TV to pay for the infrastructure. Once a year, homeowners have an opportunity to pay it off in full. Otherwise, the bond is paid over 30 years. So, if you are buying a new house, you pay the full bond (usually over 30 years). If you are buying a five-year-old house, five years of the bond has already been paid-- unless the previous homeowner paid it off, in which case your bond is zero.

How much is the bond on a new home, you may ask. Good question. It depends. It's a complex formula and I'll leave that part for someone else to explain. You definitely would want to ask how much the bond is for any home you are considering purchasing. Add the amount of the outstanding bond to the price of the home to get the actual purchase price. (Keep in mind that the "asking price" on a resale home is negotiable.)

Every Village homeowner also pays an amenity fee. That is approximately $135 a month.

Hope this helps. Happy house hunting.

[Pturner]

Oops, I left out something. Your annual property tax bill from the county includes a non-ad valorem assessment. In addition to the annual payment on the capital bond I mentioned in my previous post, this assessment is for operation and maintenance expenses in your TV district. This fluctuates up and down each year depending on your district's budget.



As Chuckinca mentioned, this assessment is +/- $500 a year.

So, that's three things:

Your capital bond (if any)
Your annual assessment (approx. $500/yr.)
Your amenities fee ($135/mo or $1,620/yr)

[Bill-n-Brillo]

Also an annual fee of about $500 or so that varies by location.This fee is the 'CDD Maintenance Fee' - an annual amount that will remain constant. As chuck mentions, it will differ based on what area you're in. It's for the maintenance of the common areas where you live - all the flowers you see, cutting of grass and trimming for those areas, etc., etc.

Here's a quick read: http://activerain.com/blogsview/1484237/the-villages-florida-what-do-these-things-mean-cdd-bond-maintenance-and-amenities-fees-at-this-active-adult-community-

So you've got the Activities Fee, the CDD bond, and the CDD maintenance fee. This will be exclusive of property taxes, water, sewer, trash, irrigation water, phone, cable/satellite, and the care of your own property (exterior maintenance of the house, mowing, fertilizing, trimming, landscaping, exterminator, etc.).

Hope that helps -
Bill

[Reefer]

Thanks for your help...it is good to know these things before we get into it but it was sort of expected by us.

[elevatorman]

The "Nuts and Bolts" thread has a lot of useful info. It is at the bottom of TOTV main page. https://www.talkofthevillages.com/forums/forumdisplay.php?f=139