TV bonds price - help

[Veronica]

If I buy a home for 270K in TV, what would the bond be? Thank you!

[bkcunningham1]

I don't know that much about the bond on houses in TV. The house we bought was pre-owned and didn't have a bond. I hope someone more familiar will correct me if I'm wrong but I'll try to answer your question.

If you are buying a new home in TV, I believe the bond is based on the location of the home you purchase. The reason it is based on the location is because the bond is divided among the residents and pays for the various infrastructure projects like the roads, sewers, street lights, utilities etc. within that particular area of TV.

If you are buying an existing house with a bond, you will owe what is left on the initial bond from the previous owner.

By-the-way, welcome.

[bluedog103]

zcaveman did a nice job of explaining this in the Nuts and Bolts section, at the bottom the first page on TOTV. As far as I know BK is correct in his post above. We closed on a home in St. Charles in March. At that time the bond was around $20,000.

[Tom Hannon]

My bond in Buttonwood was $23,000.

[Pturner]

zcaveman did a nice job of explaining this in the Nuts and Bolts section, at the bottom the first page on TOTV. As far as I know BK is correct in his post above. We closed on a home in St. Charles in March. At that time the bond was around $20,000.

Um... BK's a she. You are right though Bluedog, that she was right. ;)

Veronica, if there is a particular house you have in mind, it is easy to find out what the bond is. Just ask your sales agent.

[bluedog103]

Um... BK's a she. You are right though Bluedog, that she was right. ;)

Veronica, if there is a particular house you have in mind, it is easy to find out what the bond is. Just ask your sales agent.
Thanks Pturner and my apologies to BK. I should have made no reference to gender. I knew better too.
Sorry to anyone who took offense.

[Taj44]

That's one of the advantages of buying pre-owned. A bond for a simililar priced home in a neighborhood built 4-5 years ago would only be about $15,000.

[billnterri]

We are building a designer in St. James in 2011 and were quoted a bond price of $23,000.

[bkcunningham1]

Thanks Pturner and my apologies to BK. I should have made no reference to gender. I knew better too.
Sorry to anyone who took offense.

LOL, no offense taken. Because of actually using my initials throughout my life, most people who see my name automatically think I'm a man.

[Taj44]

All I could think of was Burger King...maybe I'm just hungry.

[Pturner]

All I could think of was Burger King...maybe I'm just hungry.

Come hungry. Leave happy.

[Another 65er]

We are building a designer in St. James in 2011 and were quoted a bond price of $23,000.
Our bond in Buttonwood is about $21,600.

[Skip2MySue]

LOL, no offense taken. Because of actually using my initials throughout my life, most people who see my name automatically think I'm a man.

After reading many of your posts I swear I thought the same thing that you were a he. Strange how the mind works and we just blindly go along with it. Somehow the mind told me PTurner was Pat but we now know that's not the truth either. More verified proof that I'm not the brighest bulb in the package:p
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[Ajack]

Our bond in Buttonwood is about $21,600.

I think our CYV bond in Pennecamp is a bit over $13,000.

[logdog]

After reading many of your posts I swear I thought the same thing that you were a he. Strange how the mind works and we just blindly go along with it. Somehow the mind told me PTurner was Pat but we now know that's not the truth either. More verified proof that I'm not the brighest bulb in the package:p
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I also thought BK was a burger. I knew PTurner wasn't a Pat. You can clearly see her name is Pinnacle.

[Pturner]

I also thought BK was a burger. I knew PTurner wasn't a Pat. You can clearly see her name is Pinnacle.

ha haha hahahahhahah. It's written all over my face... ur, golf ball. Good one!

[Tbugs]

When my wife and I bought a home in The Villages a bit over a year ago, we had it narrowed to a short list of 3 homes. One was on Bacall golf course and when we were there forthe final visit, 4 golf balls came into the backyard right next to the screen porch and 2 hit the roof. Well, that ruled that out.

The next two homes were great locations. One had a marsh view to Rt.466 and we knew something would be built on 466 and did not know what it might look like. The house price was $450,000 and had a bond of $25,000. We chose to buy another previously owned home for under $400K that only has a bond of $2,300. My bond payment each year is about 1/4 of what my new friends are paying for their $20,000 bonds on their new homes ($435 vs $1650).

My point of this rambling story is to look at the previously owned homes with a very small bond or no bond. The previously owned homes are usually in villages with established landscaping and no construction of new homes going on for the next year of so like in new communities.

Also, I suggest using a Villages Realty agent AND an agent from outside The Villages so you can see houses offered by both. Villages Realty can only show properties listed by The Villages and outside agents can only show homes NOT listed by The Villages.

[Kelsie52]

If I buy a home for 270K in TV, what would the bond be? Thank you!

Welcome Verinoca !!

As many have rsponded --the bond depends on the section of the village you purchase in ---you can have slightly differnt bond amounts according to the number of homes in your section ---

We are in Buttonwood south of St Charles and our bond is 19,700

Good luck

[kentucky blue]

My point of this rambling story is to look at the previously owned homes with a very small bond or no bond. The previously owned homes are usually in villages with established landscaping and no construction of new homes going on for the next year of so like in new communities.


That was my preference after 3 visits, a 4 year old home with established landscaping, on a quiet cul-de-sac, , with terrific neighbors. Just remember, the actual price of your home is the purchase price plus the bond, and some of those bonds are over $40,000 !!!!!!!

[graciegirl]

Come hungry. Leave happy.

I'm hungry too, Pancake Turner.:angel:

[taylor111947]

Just remember, the actual price of your home is the purchase price plus the bond, and some of those bonds are over $40,000 !!!!!!!

Just trying to make sure I understand - I think you have a choice of paying off the bond all at once or financing it with monthly payments.

Also, most of the bonds I have seen quoted are around $20,000 - where are the homes with bonds of $40,000 (want to take them off my list right away) :)

[Pturner]

Just trying to make sure I understand - I think you have a choice of paying off the bond all at once or financing it with monthly payments.

Hi Taylor, you are right about the choice. You get to make that choice once a year. You will get a notice in advance telling you that you have a small window of time each year e to pay the remaining balance in full. If you do nothing, you will just continue with your monthly payments.

[kentucky blue]

Also, most of the bonds I have seen quoted are around $20,000 - where are the homes with bonds of $40,000 (want to take them off my list right away) :)

Most of the newer premier villages, bonds range in mid $30's to mid 40's.

[jebartle]

NO bond....Yea!

[VillagesFlorida]

The bond on our courtyard villa was about $1500 when we purchased it over 12 years ago! Looks like inflation has been at work since then.

[Tbugs]

It does amaze me that some people refuse to even consider a previously owned home. Most people selling their houses will be willing to negotiate on prices while the new homes being sold by The Villages are a set price. The previously owned homes will have some of the bond paid off while the new homes are at the full bond price.

I have several friends in St. Charles in new homes. They have had to argue with the Villages warranty office several times and in some cases have been told the problem is not going to be fixed even though it is obvious it is a builder error. Landscaping is not mature, of course, and they have had to pay for extra landscaping. In a previously owned home, you see what there is now and not what is projected.

Personally, I would not like the construction going on around me every day until the neighborhood is completely built. This is noise and dirt - and the construction begins early each morning.

[eyegirl]

we also are looking to buy in TV. Just as an axample, what would the MONTHLY payment be on a $25,000 bond. How many years do you pay this fee? thanks

[Russ_Boston]

we also are looking to buy in TV. Just as an axample, what would the MONTHLY payment be on a $25,000 bond. How many years do you pay this fee? thanks

30 year amortization - 7% interest rate (yes it's higher than a typical mortgage rate) = $166.33 per month on 25K

I live in the same section as Tom H. Also 23K for our bond.

[ricthemic]

30 year amortization - 7% interest rate (yes it's higher than a typical mortgage rate) = $166.33 per month on 25K

I live in the same section as Tom H. Also 23K for our bond.

I still do not know the answer to this question:
the above bond thirty year total cost is $59,878.80 . Is this tax deductible?

[Pturner]

I still do not know the answer to this question:
the above bond thirty year total cost is $59,878.80 . Is this tax deductible?

The bond is not tax deductible.

[Tbugs]

Your bond payment is once per year. It is hooked onto your property tax bill.

Really, consider buying a previously owned home with a low bond or no bond. It saved me a lot of money as compared to my friends who bought new homes. My bond payment this year was $435 vs their $1650.

You are able to negotiate prices on "used" homes with the sellers while there is no negotiation on new homes. Saves a lot of money.

Of course, in buying either new or used homes, get an independent home inspector to give a detailed report and use that to make sure it is free of defects. In either case, too, have the seller (or builder) have a 1 year warranty on everything.

Just a couple of friendly tips. The Villages is a great place to live!!!

[zcaveman]

30 year amortization - 7% interest rate (yes it's higher than a typical mortgage rate) = $166.33 per month on 25K

I live in the same section as Tom H. Also 23K for our bond.

But there is no monthly payment. It is paid once a year at tax time so you are talking $1992 annually - non-tax deductable.

[Russ_Boston]

But there is no monthly payment. It is paid once a year at tax time so you are talking $1992 annually - non-tax deductable.

True if you have no mortgage. But I have to mortgage for a few years until I sell up here. My monthly payment for bond is $153 per month escrow added to my P&I and taxes.

[ricthemic]

Your bond payment is once per year. It is hooked onto your property tax bill.

Really, consider buying a previously owned home with a low bond or no bond. It saved me a lot of money as compared to my friends who bought new homes. My bond payment this year was $435 vs their $1650.

You are able to negotiate prices on "used" homes with the sellers while there is no negotiation on new homes. Saves a lot of money.

Of course, in buying either new or used homes, get an independent home inspector to give a detailed report and use that to make sure it is free of defects. In either case, too, have the seller (or builder) have a 1 year warranty on everything.

Just a couple of friendly tips. The Villages is a great place to live!!!

I know it is a buyer's market but I never heard of getting a warranty on a used house. Maybe an existing manufacturer's warranty on appliances, boiler or HW heater but not one on everything.

[bike42]

I know it is a buyer's market but I never heard of getting a warranty on a used house. Maybe an existing manufacturer's warranty on appliances, boiler or HW heater but not one on everything.

Many of the listings on The Villages pre-owned homes website have a seal that says "Certified Pre-owned Home" and the listings say "Home Warranty". I do not know who issues these warranties or what they cover -- the sales reps should be able to tell you.

[Snowbird]

I purchased a designer home in St Charles last November. The bond was around 20k. My yearly bond payment this November was $2234.94. I called the District office and asked for a breakdown of this payment. I was advised that $1264.02 was for interest, $264.14 went to principle, $97.54 was for admin expenses, and $609.24 went for maintenance. I questioned why there was such a large maintenance expense with everything being new in our neighborhood, they could not give me a reason, just another number to call. I gave up. Even if you pay your bond off, there will always be the yearly maintenance fee, but you can avoid the interest and admin charges by paying it off. One final word, don't pay it off if you might sell your home in the next few years, it doesn't increase the selling price by having the bond paid, just makes it sell much quicker. (found this out when we sold our bond paid villa)

[hdh1470]

I know it is a buyer's market but I never heard of getting a warranty on a used house. Maybe an existing manufacturer's warranty on appliances, boiler or HW heater but not one on everything.

We just bought a 5 yr old home for about 45k less then a new one and a much better location,I can do a lot of repairs with that.

[Tbugs]

I got a 1 year warranty which covered just about everything in my home that was built in 2002 (and I purchased in 2009). It covered all appliances, plumbing, and HVAC. I did call the HVAC folks out to check on the output of the air conditioner and it was fully covered. No problem was detected. This warranty was purchased by the seller and was a good selling feature.

As I said earlier, my bond payment per year is about $435 compared to the approx. $1650 for a new house with a bond of $20,000. I have a better house at a lower tax payment.

[graciegirl]

I purchased a designer home in St Charles last November. The bond was around 20k. My yearly bond payment this November was $2234.94. I called the District office and asked for a breakdown of this payment. I was advised that $1264.02 was for interest, $264.14 went to principle, $97.54 was for admin expenses, and $609.24 went for maintenance. I questioned why there was such a large maintenance expense with everything being new in our neighborhood, they could not give me a reason, just another number to call. I gave up. Even if you pay your bond off, there will always be the yearly maintenance fee, but you can avoid the interest and admin charges by paying it off. One final word, don't pay it off if you might sell your home in the next few years, it doesn't increase the selling price by having the bond paid, just makes it sell much quicker. (found this out when we sold our bond paid villa)

I THINK, but don't know for sure that the yearly maintainance is for painting rec centers, we live by the Odell and they have painted the "out buildings" every year (It is three years old) AND the stuff we all love: the pristine streets cleaned every night, the flowers in the medians changed out several times a year, the cutting of grass and weeding of plants in public areas and replacement of dead trees, bushes and the watering of these areas?

[getdul981]

All this beauty ain't free!!!

[villages07]

Mostly correct, Gracie..... but, a clarification.

Rec centers, pools, gates, postal centers, exec golf courses are covered by our monthly amenity fee.... all maintenance and operation costs are paid out of amenities.

The annual CDD maintenance fee that appears on our property tax bills (approx $400-$500 for the year) pay for the maintenance and operation of common area infrastructure .... landscaping, water, electricity (lamp posts, street lights), mowing/trimming, cart paths, sidewalks, CDD government management fees, etc.

There is a lot of information on the CDD website, including annual budgets and expense breakdowns.

http://www.districtgov.org/

The bond on the house was to build the initial infrastructure. The annual CDD fee is to maintain it.

[sam&rog]

The intrest on my bond was over 7% so I paid it off. It was like having a second mortgage.
Call the sevice center to find out your intrest rate.