monthly expenses

[Foxske]

Hi all,

We are thinking about bying a property in TV, but we have got some questions.
Since we are europeans and we can only spend a maximum time of 6 months in the usa, our idea is to come in winter for a copple of months.

As we have already guessed, summer period is hard to rent out , so our question is :

1. if the property is NOT occupied , is there a possibilty to switch off CABLE Television / SATELITE DISH ? So you dont pay for the months that the property is empty ?
2. Is there a possibility to switch off INTERNET ? So you dont pay for the months that the property is empty ?
3. Do you have to pay for sewer and trash collection when the property is not occupied ?
4. How about the water and electricity ?

Can anyone , maybe in the same situation give us a answer to tese questions, based on their experience please ?

Thank you so much .

Fox & Tania ( Belgium )

[deano_hoosier]

Good questions... and I'm sure you'll probably have some more as you consider this investment.

I have Comcast which supplies my t.v. and internet. They also have phone service available, but I use MajicJack computer/internet phone service, so just have cable and internet. Comcast has a "vacation hold" plan where you can place your service on hold for up to 7 months in the spring through the fall months. It can't be put on hold during the prime winter months. The cost for me and my (2) services during the vacation hold from Comcast is $15/month. If you re-start the service during the hold period, it cannot be returned to hold status. I'll be back for the month of July. I'll restart the service and at the end of the month return my equipment to the Comcast store and cancel my service completely. When I return in late December, I'll go get the equipment and start back up again. This has another advantage, sometimes, of being able to jump in on a new discount rate for new users. Comcast does not require a contract and is month-to-month usage.

I turn off my house-internal water supply when I leave, but leave my house-external water running for the sprinkler system. My May water bill was for 13,000 gallons (sprinkler system) and the graduated water bill, alone, for that usage rate was $25.31. In addition to the water usage portion of the bill was a flat rate sewer charge of $25.67 plus $17.90 waste pick-up (flat rate) and amenity charge of $141.63. Total monthly charge for Not Here time was $210.51.

Can't turn off the various charges for utilities listed above except to minimize your water usage as best possible.

Electricity must be left on as your heat/air conditioning will require it. I do have a "humidistat" on my ac so that the ac runs only enough to keep humidity to a level that won't promote mold/mildew growth. My May electricity bill for this level of usage was $32.64 for a 1,700 sq ft ranch-style home. When I was in the house last July the electric bill went up an additional $120 or so for the additional ac use.

Hope this helps and I imagine others will have additional information to offer.

[Foxske]

thx Deano,

This gives us already an idea about those expenses.
Yes, we will have some additional questions later on i guess ( for example .... what would the cost be for someone to maintain the garden and check the property from time to time , etc ... )
The way we see it, it seems quit expensive for europeans to own a property in TV ( monthly costs for a vacation property ) , especially if the property is not rented to minimalie the monthly costs.

[Villageshooter]

Your looking at all the angles,, and not letting the taste of the koolade cloud your judgement. If you think of the amount of money you have to tie up to have a place here for part time use it makes NO SENSE at all, unless you have more money than you can spend, or need a tax write off to make it quasi rental property. If you find the correct rental unit you can come here many many years before you even come close to making a dent in the amount of funds to make a prudent investment. You must figure maintenance on the home (due to the rain folks are learning they must paint brand new homes so they dont leak), golf cart expenses (cart maintenance is worse then keeping a car running). The utilities with tenants is like giving them a blank check they set the thermostats at times so cold you can hang meat in the house (it is not there money). Take good hard look before you buy if your not full time here. You say there are many that to do it? Just go to a casino to see this many other delusional folks who ignore the facts

[Bill-n-Brillo]

Villageshooter, do you own a home (and live) in TV? Just curious...........

Bill :)

[graciegirl]

Your looking at all the angles,, and not letting the taste of the koolade cloud your judgement. If you think of the amount of money you have to tie up to have a place here for part time use it makes NO SENSE at all, unless you have more money than you can spend, or need a tax write off to make it quasi rental property. If you find the correct rental unit you can come here many many years before you even come close to making a dent in the amount of funds to make a prudent investment. You must figure maintenance on the home (due to the rain folks are learning they must paint brand new homes so they dont leak)(That is very unlikely, the rain we had came in from small openings that probably had not been grouted around windows in our new stucco house), golf cart expenses (cart maintenance is worse then keeping a car running). (Not even close to true)The utilities with tenants is like giving them a blank check they set the thermostats at times so cold you can hang meat in the house (it is not there money). Take good hard look before you buy if your not full time here. You say there are many that to do it? Just go to a casino to see this many other delusional folks who ignore the facts

I would really like to know the reason behind your post. Why all this bitterness? Do you really live here or just feel left out because you don't?

Moving far away to a new retirement home full or part time has required saving and planning for most of us, all of our lives. There are all kinds of choices and all kinds of places and even then, some seniors can't afford to do it. Retireing here is a choice and a privilege, not a right. And like all choices to live anywhere there are down sides.

I would say that this place is very affordable to most considering all the things offered and the choices available. From the less expensive homes starting at around $70,000 to the homes that cost more than a million, the lifestyle and the amenity fee is the same.

Now back to the answers to the specific questions ...

And Welkommen Foxske. Did I spell that wrong?

[Bogie Shooter]

Villageshooter............why so negative??

[TV Tom]

Although he may have said it very negatively, Villageshooter is correct. From a purely financial standpoint, buying in TV or most other places to be a part time resident is extremely expensive. Any CPA will confirm this. I am a CPA and have looked at the scenario for a number of clients. If you are not going to occupy your Villages home for 8-9 months of the year, you should rent if you want the financially sound alternative. It will cost you less! I stress this is purely form a financial standpoint. You would be much better off to keep your money invested in the financial markets and rent than to spend it on a second home which you occupy part of the year. If you have unlimited funds, buy whatever you like, but if you are an average person who wants to make a decision based on sound financial principles, be careful and talk to your CPA.

[Bonny]

Your looking at all the angles,, and not letting the taste of the koolade cloud your judgement. If you think of the amount of money you have to tie up to have a place here for part time use it makes NO SENSE at all, unless you have more money than you can spend, or need a tax write off to make it quasi rental property. If you find the correct rental unit you can come here many many years before you even come close to making a dent in the amount of funds to make a prudent investment. You must figure maintenance on the home (due to the rain folks are learning they must paint brand new homes so they dont leak), golf cart expenses (cart maintenance is worse then keeping a car running). The utilities with tenants is like giving them a blank check they set the thermostats at times so cold you can hang meat in the house (it is not there money). Take good hard look before you buy if your not full time here. You say there are many that to do it? Just go to a casino to see this many other delusional folks who ignore the facts

Wow, not a very nice answer !! Capitalizing the "NO SENCE" is the same as yelling and to say "other delusional folks" was just not a nice thing to say. Just sayin'.

[Foxske]

We did not ment to start a discussion , just wanted some good answers to some questions.

Graciegirl .... you spelled almost right : in dutch it is WELKOM , but very nice of you :coolsmiley:

TV Tom ..... we think you are right , probably the best thing for us to do is to rent a nice property once a year for a copple of months , we have been looking around and yes, lots of nice properties for rent , in all price ranges and yes .. without any worries for us .

So for now we have decided to rent a place in TV and who knows, maybe one day the USA will allow europeans to stay s long as they want in florida and maybe then it will be the moment to buy a property in TV. :rolleyes: only time will tell .

Fox & Tania ;)

[Schaumburger]

We did not ment to start a discussion , just wanted some good answers to some questions.

Graciegirl .... you spelled almost right : in dutch it is WELKOM , but very nice of you :coolsmiley:

TV Tom ..... we think you are right , probably the best thing for us to do is to rent a nice property once a year for a copple of months , we have been looking around and yes, lots of nice properties for rent , in all price ranges and yes .. without any worries for us .

So for now we have decided to rent a place in TV and who knows, maybe one day the USA will allow europeans to stay s long as they want in florida and maybe then it will be the moment to buy a property in TV. :rolleyes: only time will tell .

Fox & Tania ;)

Foxske -- Welkom to TOTV from a TV wannabee! I hope you find a rental property that you and your wife love in TV. A good place to check is The Villages 4 Rent, Rentals in The Villages (http://www.thevillages4rent.com). TOTV is a very good source of information about living in The Villages. Good luck in your search for a rental. :welcome:

[Harleyman]

I think there is another side to the story but in my case it is if you want to come to the Villages every year because we do not want to rent our place.If you do not want to come to the Villages every year I would agree that renting is the way to go. We rented for the first three years and have owned for two. Each time we rented the pics we were shown were taken several years previous when the furniture was new. When we got there we were stuck with worn out carpets and furniture, no high speed, basic cable, local phone etc. Not much fun for three months, and we rented from known rental agents, not some place we found on line. We found a place that we liked, where we wanted to be and bought it, paying cash, no mortgage. After all expenses,and I mean all expenses,, including lawns, maintenance of heat pump, house sitter, insurance on golf car - I found that it is cheaper to own and pay everything - than it is to rent for three months. Our total bills for the year were less than three months rent. Also, the place has gone up in value over ten percent, not like my investments that have gone the other way and probably will for the next year or two. As you know, when you own a place you know what is there when you get there, no surprises. We are only there about four and a half months and it is still a better deal than renting. I suspect that in a few years we will have to start replacing things but even with that I still feel it is better to own if as I said before, the Villages is where you want to be. If we ever decide to rent, which I doubt, we could rent it in ten minutes. The people never stop driving by, trying to find one. I think a big part is buying in a central area, especially if you want to rent it .

[TV Tom]

Harleyman,

I understand your problems with renting, which are very unfortunate, but buying does cost much more than renting for a part-timer. Your post does not address the fact that since you paid cash, you have taken away the earning power of all of the money you have spent on your home, furniture, etc. Even in a bad market, you should be able to earn at least least 4%, on average, with conservative investments (for example, $8,000 on $200,000 that you may have invested in a property). In addition, you are paying utilities, lawn maintenance, amenities fees, bond, insurance, taxes, etc. for the time you are not there.

I understand the convenience and comfort of being able to go to TV whenever you would like to a place that you love, but there is a fairly steep cost to do it.

I plan to buy in TV in the future, but even with rising home prices, I am choosing to keep my money invested and wait until I can be there full-time. Ultimately, you can afford a nicer home. I have run the numbers many times and a part-time home costs a significant amount of money vs. renting. In TV situation where you cannot rent it in the summer, it is more expensive than other locations, e.g., near the beach. There has been some appreciation in the value of homes, depending on when you bought and this obviously can't be ignored, but all things being equal, your other home has likely appreciated as well. So, if you sell it later and then buy at a higher price at TV later, this is a wash.

As I said in my previous post, if you have the money to spend and want to do it as a lifestyle decision, great. I wish I could do it. But if you are an average guy like me and want to make a decision purely based on finances, you are better off renting.

[ncarvalho]

Hi all,

We are thinking about bying a property in TV, but we have got some questions.
Since we are europeans and we can only spend a maximum time of 6 months in the usa, our idea is to come in winter for a copple of months.

As we have already guessed, summer period is hard to rent out , so our question is :

1. if the property is NOT occupied , is there a possibilty to switch off CABLE Television / SATELITE DISH ? So you dont pay for the months that the property is empty ?
2. Is there a possibility to switch off INTERNET ? So you dont pay for the months that the property is empty ?
3. Do you have to pay for sewer and trash collection when the property is not occupied ?
4. How about the water and electricity ?

Can anyone , maybe in the same situation give us a answer to tese questions, based on their experience please ?

Thank you so much .

Fox & Tania ( Belgium )

Hello Fox and Tania,
My husband and I had the same thoughts and queries before buying a property at TV. And we did so back in April 2007, and we are not retired yet.
It is true that it may be hard to rent for the summer time and we can only go during vacation time. So, the way we consider is to try to rent for the snow birds and be able to afford the mortgage and monthly basic expenses. We are only able to cut the cable and internet. But since last year, we don even connect internet for the summer when we spend vacation there. This is because as residents, we can use the wireless from the regional rec centers (high speed) and we don't have to pay any extra. so based on our experience, which has been superb! (so good I recommended my sis and her family that lives in London do invest in a property at TV as well), here are my answers to your numbered queries. Good luck and all the best!
1. I just answered this. We disconnect cable service when no one is in the house.
2. We only order the modem for the renter and for the months rented. We have a very nice property manager that helps us a lot and with several maintenance care, for a reasonable share of the rent amount.
3. Yes, this is something you need to pay all year round, part of the amenities fee.
4. You also need to pay them, but could keep to a minimum. Recently, I belive you may be able to disconnect electric for a few monhts. don't quote me, but you may have to pay a fee to connect/disconnect. So , what we do, we leave the settings at a minimum (like fridge, AC and the kind).
Ah, you should also plan to pay for yard maintenance and eventual bug care etc. But all-in-all, we find it very useful. We initially rented for Jan-Mar in 2008, and , since Jan 2009 we kept the same renter that keeps on coming. He likes it so much we now rent our house from November to May, which has been excellent and fits our initial purpose. so it helps us to offset the mortgage and we have from June to September to visit and still get a tax break on depreciation and maintenance. THis means, when we go, we can apply transportation costs to offset costs to the maintenance of the rental property. We love this arrangement, and we love TV! Hope this helps. I will leave it like this… as I am about to get a Belgium beer -- very tasty!
Bon-weekend.

[jmvalcq]

We pay Stellar about $1000 a year for cutting grass, fertilizing lawn & shrubs, pest control, & weeding grass and shrubs.

[rjm1cc]

Hi all,

We are thinking about bying a property in TV, but we have got some questions.
Since we are europeans and we can only spend a maximum time of 6 months in the usa, our idea is to come in winter for a copple of months.

As we have already guessed, summer period is hard to rent out , so our question is :

1. if the property is NOT occupied , is there a possibilty to switch off CABLE Television / SATELITE DISH ? So you dont pay for the months that the property is empty ?
2. Is there a possibility to switch off INTERNET ? So you dont pay for the months that the property is empty ?
3. Do you have to pay for sewer and trash collection when the property is not occupied ?
4. How about the water and electricity ?

Can anyone , maybe in the same situation give us a answer to tese questions, based on their experience please ?

Thank you so much .

Fox & Tania ( Belgium )
Try The Villages 4 Rent, Rentals in The Villages (http://villages4rent.com/) to get an idea about rentals. I think I would try and rent for the first year. You could also look for a resale while you were renting.

[kissmelatr]

I thought time Europeans could spend here was changed to 3 months not 6 months.

[asianthree]

we rented 4 time in different areas before we bought, are renting this year, we picked a house that we could afford with all costs and if we rented then it was a bonus..cancel comcast tv/internet when we leave water/amenity/trash about 190 to 200 a month with no one at the house. lawn $45 and elect is $40 with no one there, add a homewatch person for peace of mind $40 to $50 a month. we still have three years to go to retire but we wanted to get the house paid off before we sold our home base..hope this helps

[EdV]

Harleyman,

I understand your problems with renting, which are very unfortunate, but buying does cost much more than renting for a part-timer. Your post does not address the fact that since you paid cash, you have taken away the earning power of all of the money you have spent on your home, furniture, etc. Even in a bad market, you should be able to earn at least least 4%, on average, with conservative investments (for example, $8,000 on $200,000 that you may have invested in a property). In addition, you are paying utilities, lawn maintenance, amenities fees, bond, insurance, taxes, etc. for the time you are not there.

I understand the convenience and comfort of being able to go to TV whenever you would like to a place that you love, but there is a fairly steep cost to do it.

I plan to buy in TV in the future, but even with rising home prices, I am choosing to keep my money invested and wait until I can be there full-time. Ultimately, you can afford a nicer home. I have run the numbers many times and a part-time home costs a significant amount of money vs. renting. In TV situation where you cannot rent it in the summer, it is more expensive than other locations, e.g., near the beach. There has been some appreciation in the value of homes, depending on when you bought and this obviously can't be ignored, but all things being equal, your other home has likely appreciated as well. So, if you sell it later and then buy at a higher price at TV later, this is a wash.

As I said in my previous post, if you have the money to spend and want to do it as a lifestyle decision, great. I wish I could do it. But if you are an average guy like me and want to make a decision purely based on finances, you are better off renting.

Great informative post TV Tom. Don't be a stranger to TOTV. You have the financial experience as a professional and just as important, know how to explain it clearly. A tip of the hat to you.

[old moe]

:boom:Your looking at all the angles,, and not letting the taste of the koolade cloud your judgement. If you think of the amount of money you have to tie up to have a place here for part time use it makes NO SENSE at all, unless you have more money than you can spend, or need a tax write off to make it quasi rental property. If you find the correct rental unit you can come here many many years before you even come close to making a dent in the amount of funds to make a prudent investment. You must figure maintenance on the home (due to the rain folks are learning they must paint brand new homes so they dont leak), golf cart expenses (cart maintenance is worse then keeping a car running). The utilities with tenants is like giving them a blank check they set the thermostats at times so cold you can hang meat in the house (it is not there money). Take good hard look before you buy if your not full time here. You say there are many that to do it? Just go to a casino to see this many other delusional folks who ignore the facts

:boom:i don't think this was at all bitter. just being honest and realistic. If you are just using a home a very limited time each year, u are much better off renting!!!:blahblahblah:

[gomoho]

For what it's worth I have to agree with the rental scenario. We have rented 3 times and have not been disappointed at all. Were they perfect? no, but certainly very comfortable and we enjoyed ourselves thoroughly. We are now here fulltime and have purchased a home, but originally had intentions of renting until we learned how EXPENSIVE it is to rent a home in TV fulltime. Good luck with your decision.

[Barefoot]

Like The OP from Belgium, we are only allowed to stay in the US for 182 days in a calendar year. We divide our time between Canada and our Villages home. We bought a home in TV in 2007 and have never regretted it. We've never rented our home out.

Sure it's expensive to run two homes, but it's a great idea if you can swing it. There is an emotional component to consider as well as a financial one. We feel part of our TV community, and that we're "true villagers". We have the peace of mind to know exactly what we're returning to each year. We love our neighbors. We had invisible fencing installed for our dogs. We return each year to our king-size bed, our Columbia Par Car, furniture we chose, and our birdcage with a wonderful view. We love the fact that we can leave clothes, golf clubs, etc. in TV.

We're really happy to be Seasonal residents. I've heard that around 40% of Villagers own two homes.

[hotrodgirl]

Sorry about the negativity, and no you did not start anything! We are glad to have you come to The Villages and would like to say a big Welcome to you both! I think if you were to rent a place for at least the first time, you would be able to judge for yourselves if this is a good investment for you! For just 2 months per year, maybe not unless you could rent it out yourselves. But if you decide you can stay 4-6 months, then YES! I hope you will enjoy your time in Florida, most especially in TV as we say! There are lovely people and so much to do! Velkommen, og ha det bra! OK-so that was Norwegian, but it's all I know other than English!