settlement costs and view costs

[mwarren]

hi:
i was wondering what settlement costs on a 230,000 new home, and how much extra do they charge for "views" it gets so confusing.
also the charge for golf cart garage, i hope this clears our minds.

[Russ_Boston]

hi:
i was wondering what settlement costs on a 230,000 new home, and how much extra do they charge for "views" it gets so confusing.
also the charge for golf cart garage, i hope this clears our minds.

First, suggest that you talk to a TV sales agent who will have the exact answers.

But in general settlement costs here are no different than anywhere (I closed earlier this year). But there is an added bond that is either paid off or paid back in 30 years like a mortgage. These bonds range in the 22 - 26k neighborhood for a designer home (mine was 22K for a designer home in the 250K range) less for a courtyard villa (12-15K?)

The 'view' lots can be tricky. You might get lucky with a limited view type (of maybe an exec course) for under 100K but most golf front lots are in the 125K - 175K range. Of course you could pay much much more if you want:)

A water view lot is over 100K as well.
A rec center 'view' is reasonable (around 30-50K) but the view and noise need to be studied first.

There are some lots that abut pasture type land that is not owned by TV that are much less. The caveat there would be that since these properties are not owned by TV there is no guarantee that they will stay pasture land. There were many of these type of lots in Tamarind earlier this year (20k - 50K?).

Then you have cul-de-sac or corner lots (25 - 60K) which offer some privacy or room to add a pool but again you need to do your homework to see what works for you. This is what I went for since we wanted our own pool/birdcage without the cost, or random golf ball strike, of a golf course front.

Others can chime in if my money estimates are way off.

Talk to your agent!!

[mwarren]

thanks russ, we have a preview in 2 week and prices are bad in philadelphia and i was wondering if this was the right choice.

thank you for your time and advice.

[jackz]

Russ mentioned over 100k for a water view lot for a designer.

Just bought a waterfront lot in the newest section of Sanibel for 68k premium, so I guess I did better than expected.

Golf course frontage lots were off the charts so we were looking for either a nature view or water view.

One caveat, the waterfront lots in the newest unit of sanibel were sold out within 48 hours.

Good luck with your choices.

[Taj44]

A lot of it depends on general location within the Villages as well, and timing doesn't hurt. Sometimes they want to sell off lots in a hurry, so prices are marked down, or there are closeouts to finish off a village. After the housing crisis a couple of years ago, there were some real good deals in the Village of Hemingway, although some of those lots turned out to be not as nice as expected, because of noise from the country club.

Right now, I wouldn't be suprised if the best deals on views would probably be with the re-sales. A friend recently bought a like-new designer turnkey block and stucco on a championship course south of 466 for a little over $300K, with little bond. They had been looking at other homes, some vinyl, with great views or privacy, with golf cart garages, for less than $200K, and of course the bonds are much less than on new homes.

[Russ_Boston]

Russ mentioned over 100k for a water view lot for a designer.

Just bought a waterfront lot in the newest section of Sanibel for 68k premium, so I guess I did better than expected.



Yes there were some that are less depending on other factors. I saw a nice one in Pennecamp for about 75K that sold just before I saw it last year.

My advice would be to get a real experienced TV agent and let them know that you will commit by phone to one if that becomes available.

[rubicon]

I'm told a "golf frontage view" means the back of house is on a golf course. I thought it meant the front of the house faced a golf course.

a different opinion?

[Ooper]

I'm told a "golf frontage view" means the back of house is on a golf course. I thought it meant the front of the house faced a golf course.

a different opinion?

Nope... front of house faces road, rear of house faces golf course.

[Bill-n-Brillo]

Nope... front of house faces road, rear of house faces golf course.

..........but I believe there's also a premium for a lot where the house will face a golf course across the street. I don't know what the appropriate terminology is for that, though.

Bill :)

[LvmyPug2]

Golf cart garages add approx $10k to the price of a new home. We found a cul de sac gave us the most yard space bang for our buck and it also means we won't have traffic or golf cart noise behind us. Water views are very nice but our agent did tell us that we needed to be mindful that ponds will sometimes have alligators in them. Since we have a small dog, we decided we didn't want to have to worry about our pup becoming an evening meal for the neighborhood gator

[Russ_Boston]

Lake front home for example means the lot is on a lake. Golf front home means the lot is on the course. Golf or lake 'view' means the lot is across from a course or lake but does not abut the property.

At least it is that terminology throughout the country when I was discussing property. We've been using view on this thread but you do pay much more for a 'front' than for a 'view'.

[jojoin]

We were told by sales agent any lot that does not back up to another house/lot is considered a view lot, and view lots have premium prices...but, not all views are the same price, of course. Example, even if it backs to a street and there is a house across the street it is considered a view lot. It could also back up to a street w/a golf course across the street (golf view), and that would be more $$$$. Not to be confused w/golf front which is the golf course in your backyard...oh yeah, there is also the peek-a-boo view of the golf course where you might get to see a sliver of the golf course if you stood/sat in the "designated spot" of your lanai. you get the picture.....soooooo many variables. There are various types of view lots along w/premium pricing structures. Then of course you have to consider the size of the lot which also adds to the price.

I was on the villages.com website yesterday looking at the lot maps for the new villages south of 466a, I noticed you can click on the unsold lots and see how much the lot premium is. You'd still need info from sales agent for info on size of lot, etc, but this will give you a start if you are just trying to get an idea. These maps are color coded and show the sold and unsold lots; you can get an idea from the lot maps that the view lots are sold pretty quick when a new village opens.

[jackz]

Yes there were some that are less depending on other factors. I saw a nice one in Pennecamp for about 75K that sold just before I saw it last year.

My advice would be to get a real experienced TV agent and let them know that you will commit by phone to one if that becomes available.

Russ: Great advice to get a good agent and let him/her know that you are serious about the type of lot you want and are ready and willing to commit by phone.

Thought you and others might appreciate an example of this coming together. We advised our agent of the desire for a nature view or waterfront lot, provided our credit card info and mailed an undated check for the 5k for him to hold. We then went on a 13 day cruise in Europe and were advised that there was no need to be concerned as no new areas would open up during our cruise.

On day 9 of our cruise while checking our email (at 65cents per minute on the ship) we received an email from our agent that a new area opened and he would attempt to get us a waterfront lot however, we had 24 hours to confirm, sign docs and email them back.

12 hours later we were in Athens spending our port visit at an internet cafe printing and signing docs and scanning them back to our realtor.

Bottom line, by being proactive as you have suggested we were able to purchase our waterfront lot in Sanibel while in the middle of the ocean.... Also, all the waterfront lots sold out within the first 24 hr - 48 hr period.

[English Ivy]

I was on the villages.com website yesterday looking at the lot maps for the new villages south of 466a, I noticed you can click on the unsold lots and see how much the lot premium is.

That's fascinating to be able to see the premiums being charged. It's a nice, new feature.

I've always said The Villages will figure out a way to charge a premium for a lot even if it has a high tension wire tower behind it.

Do they still label the bodies of water as "may or may not hold water"? I couldn't figure out what our sales rep meant every time she pointed to a pond and referred to it as a "may or may not".

[Taj44]

....I've always said The Villages will figure out a way to charge a premium for a lot even if it has a high tension wire tower behind it.

Do they still label the bodies of water as "may or may not hold water"? I couldn't figure out what our sales rep meant every time she pointed to a pond and referred to it as a "may or may not".

How true. I remember a few years ago when we were looking at houses. There was a "premium lot" overlooking the golf course (the course was on the other side of a very busy main street with a lot of traffic, and there was a tiny drainage pond there. I think they wanted at least an additional $50K for that house, because of the so called water/golf course view. Turns out the drainage pond is dry about 9 months/year.

[Russ_Boston]

I was on the villages.com website yesterday looking at the lot maps for the new villages south of 466a, I noticed you can click on the unsold lots and see how much the lot premium is. You'd still need info from sales agent for info on size of lot, etc, but this will give you a start if you are just trying to get an idea. These maps are color coded and show the sold and unsold lots; you can get an idea from the lot maps that the view lots are sold pretty quick when a new village opens.

Could you post a link of this? I couldn't find it. Thanks.

[GreggB]

Could you post a link of this? I couldn't find it. Thanks.
http://www.thevillages.com/maps/newneighborhoods.htm
click on any of the "available" lots -

[Carla B]

I've often wondered how they come up with the "premiums" on lots. Maybe they hire Watson, the IBM computer?

[Russ_Boston]

I've often wondered how they come up with the "premiums" on lots. Maybe they hire Watson, the IBM computer?

I know exactly how they do it:

They price them as high as people will pay:)

[Scott8147]

Thanks for the example and for letting us know that this situation can work out. We also have our eye on several lots in the soon to be opening Sanibel areas and are leaving on a transatlantic cruise in Nov. Of course we know the lots will open while we are gone so we are trying to do what we can to make sure we get one that we want. It's nice to hear that someone else pulled it off. Wish us luck. :ho:

[jojoin]

Could you post a link of this? I couldn't find it. Thanks.

I'm not sure how to post a link, but this is how I found it.
If you go to thevillages.com website and on the left side click on "new cottage home neighborhood". There are several areas south of 466a listed on this link (not just the cottage neighborhood). Click on any of the available lots, and it shows the premium.

[Bill-n-Brillo]

I'm not sure how to post a link, but this is how I found it.
If you go to thevillages.com website and on the left side click on "new cottage home neighborhood". There are several areas south of 466a listed on this link (not just the cottage neighborhood). Click on any of the available lots, and it shows the premium.

Just copy the link itself into your reply:

http://www.thevillages.com/maps/newneighborhoods.htm

Note: Some of The Villages' web site links are squirrely - they'll take you back to the TOTV home page when you click on them. There are older threads on TOTV regarding the topic. This link, however, seems to be fine.

Bill :)

[Virtual Geezer]

I just looked at the site and found it very interesting. I will take the $199,000 lot premium tacked onto my new premier home right after I hit the lottery. I wonder if I should pay off the bond or wait?

Also found one lot with a $0 premium and the one next door is $7000. I wonder what is up with that.


VG

[jackz]

Thanks for the example and for letting us know that this situation can work out. We also have our eye on several lots in the soon to be opening Sanibel areas and are leaving on a transatlantic cruise in Nov. Of course we know the lots will open while we are gone so we are trying to do what we can to make sure we get one that we want. It's nice to hear that someone else pulled it off. Wish us luck. :ho:

Good luck to you. My suggestion is to advise your salesperson that you will check email once a day while on the cruise and are prepared to make your decision if the right lot comes along. By providing your credit card info to your sales rep in advance and an undated check for the 5k, you can make this work. Enjoy your cruise and your future purchase.