buying new vs resale cyv

[Bonnevie]

I know this has been discussed but as I get closer to actually making a purchase, I find myself going back and forth on whether to buy new or a resale. I know I want a cyv. It will just be me living there, but I don't know if I should get the extra bedroom--would love opinions on that--because once I decide there's no changing.

I always assumed I'd buy a resale, but frankly, the ones on the market are priced more than a new one and most don't offer a lot of extras. Seems location above 466A is the justification for the cost. The also may have larger yards, which I assumed I'd like but now I'm thinking I don't really want a yard to care for. The new ones have a small amount of grass for my dogs and a small area for plantings. Do I really need more?

I also didn't think I'd want to be south of 466A but now that doesn't seem as much of a determinant and I do find it appealing that all the neighbors would be starting out at the same time.

Anyway, I'd welcome any input from those who might have gone through a similar thought process in their decision making, what they decided, and if they feel they made the right choice. Thanks.

[Golfingnut]

The new are easy to look at as the price is set, but if your looking to take advantage of someone wanting to leave, then look at resales and low ball them. We bought new and feel good about our choice of purchasing. I would not be comfortable profiting from someones misfortune.

[buggyone]

There are two sides of the new neighborhood where everyone moves in about the same time. On the good side, it is easy to get to know everyone. However, we have several friends who moved into a new neighborhood at the same time and, true, they all got to know each other faster than I did with my established "resale" neighborhood. But, it is just like a small town and everyone knows each other's business. Tell one person and within two days, the story has spread throughout the neighborhood even to people you do not know.

I like the established neighborhood as there is no construction going on, no dirt blowing around, no nails in the street, mature landscaping in place, you do not get surprised at what might be built closeby, and probably some upgrades you have to pay extra for or cannot get in a new CYV.

The buying price is negotiable on a resale. Making an offer is NOT taking advantage of someone. They either totally reject, accept, or counter the offer.

[janmcn]

Another big plus about buying a resale, I'm surprised Buggy didn't mention, is the possibility of finding a no-bond or low-bond property that could save you thousands of dollars over the long run.

The villages north of 466 have so many amenities you don't find elsewhere in TV; six grocery stores, six strip malls, six churches, the hospital, two bowling alleys, five softball fields, three dog parks, one walking trail, two rv parking lots, a woodworking shop, many restaurants, and other shopping including Target, Kohl's, Belk's, Home Depot, Lowes, Wal-Mart, etc etc etc.

Will all these businesses someday be in the Brownswood area? Who knows?

[Ohiogirl]

The Villages north of 466 off of Morse Blvd. are most convenient for most shopping, although the Belvedere area villages are also very convenient as are Summerhill and Glenview and probably one or two others.

The Villages south of 466 and Arnold Palmer Country club have a greater number of easily accessible neighborhood and regional rec centers and golf courses. Not too far to anywhere.

The Villages north of 466 and off Buena Vista (let's say north of Savannah Center) normally have larger lots and not as much traffic. Closer to Ocala and close to Lowe's and Aldi's.

The Villages south of 466A are developing nicely and will soon have plenty of rec center accessibility as well, maybe not quite as many regional options as those Villages to either side of Canal St., but still quite a few. They are closest to Orlando airport, Mt. Dora, theme parks.

Everywhere really has good access to some golf courses.

Once you move in, you will find yourself doing things near to you more than things that are far away, and you will likely love living wherever you end up.

Again, depends what you already like to do as well. You can find most things near wherever you live.

Some people rarely use rec centers. Some never use pools. Some don't golf. Some don't shop much, some don't travel outside the Villages much. Know thyself.

[John_W]

We bought a new CYV in July 2011. It seem the ones that were priced right, were built in the early 2000's and didn't have vaulted ceilings. The minute I waked into all the new villas, the raised ceiling was a major difference. The other is the obvious, all your neighbors are starting out together.

We have our home the way we want now. We wanted white kitchen cabinets, none were available when we bought, so we have ours refaced by Remington Kitchens in Leesburg, cost $4800 but made a world of difference. Also in the kitchen we added a tile backsplash and wood floors, indoor/outdoor carpet in the lanai, a sunshade on the lanai side that faces west. McGowan Landscaping ripped out everything in the front yard and redid entirely including adding 4 palm trees. Screen sliders on the garage entrance, inside the home painted by Investment painters, shelves in the master closet double shelved, attic steps in the garage and flooring in the attic.

I can go on and on, but the point is we never saw a resale decorated the way we wanted. To many people laminate floors through out the home is the way, we only wanted real wood, and not throughout but just in the dining, kitchen and foyer and definitely carpet in the bedrooms. We just figured it was better to buy new and make it over the way we wanted and not the way somebody else wanted.

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[PaPaLarry]

I really think its up to the individual!!! Whats good for you, might not be good to someone else. If you like new, then definetly buy new. I myself, see some pluses in buying used (Including you can negotiate price, and if they say no, So be it) Lots of good advice have been mentioned in different posts. Paid bond is a really big plus. (about $13000-16000) That money alone could be spent on remodeling if need to be. Many people have added some nice landscaping, additions, new flooring, lightening rods, water softners, surge protectors, pavers, cabinets, ceiling fans etc etc etc. Close to Sumter Landing, Spanish Springs, or Brownwood is something to consider also. Regardless, whatever you choose, the "Happy Life" will be in front of you to enjoy, and the many friendly people in The Villages are yours to meet. Good luck in your choice, and have a healthy enjoyment!

[Bonnevie]

I can go on and on, but the point is we never saw a resale decorated the way we wanted. To many people laminate floors through out the home is the way, we only wanted real wood, and not throughout but just in the dining, kitchen and foyer and definitely carpet in the bedrooms. We just figured it was better to buy new and make it over the way we wanted and not the way somebody else wanted.

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yes that is what I'm finding. Most of the resales on the market right now would, for me, need major changes if I bought them so they don't appear to offer any advantages over buying new. Even if the bond is paid and one has to redo flooring, landscape, etc. then it's the same as buying new with a bond and theoretically with a new place, you don't have to worry about any major repairs for a longer while. It's rare to find one who's owner's taste matched your own.

[mickey100]

As others have said, its a mix of pluses and minuses. The price you actually pay for a used villa will be less than the asking price. And you will have less or no bond to pay. This could easily equal $20K, and would pay for upgrades and maybe leave you some left over. Then you look at location, location, location. Many people would prefer to be centrally located such as Winifred, Belvedere, Virginia Trace, etc. as opposed to the newer sections south of 466A. That central location will cost you a little more, but you'll have an advantage should you sell in the future - those central locations tend to be more coveted.

[ncr2482]

As others have said CYV 's are sold as is...what you see is what you get. Location is most important. We purchased a new CYV in 2004 in Belvedere. We changed just about everything...removed all the carpet, laminate countertops, faucets, replaced the miniblinds installed by the developer, added a large birdcage, new front door from Perry's Entrypoint, installed a solar tube in the master bathroom, added a tile/glass backsplash in the kitchen, added pendant lights over the island, removed the 8 ft window in the living room and added a 12 ft. slider to the birdcage. Replaced a few of the ceiling fans (got rid of the Village white ones). We also removed all the grass, replaced it with stone and upgraded the landscaping. The only thing we wish we could change is the garage size, but is it worth moving ? No, we live on a golf course, Most of the changes took place our first few years, however I am gearing up to redo the master bath shower stall...new tile and seamless shower door. I love redoing things, but is isn't for everyone. Regardless new or old CYV - you will make changes regardless (FYI the CYV built in the early 2000's - do have volume ceilings, it was an upgrade but most of the units in our neighborhood have them.)

[Schaumburger]

As a wannabee, I really enjoy reading these posts about buying new vs. resale. Keep them coming as it is interesting and informative for me to read these posts.

[tainsley]

I agree with the other posters. We live in Tamarind Grove btwn LSL and Brownwood. We love the location. We bought a new CYV at the end of a street, corner lot. We added a pool last spring with a birdcage and had the yard landscaped...it is our favorite room in the house and we spend alot of time out there. Now we are finishing up the inside. Great neighbors (ages btwn 55 and 70's) a good mix of couples and singles. No plans to ever move. There are a couple of CYV for sale including a corner. Great neighborhood! Good luck in your search. When you walk into your home you just get a feeling that this is the one!

[Bonnevie]

right now, it seems like the cyvs between 466 and 466A are rather pricey with not much in the way of improvements. I don't blame the owners for trying to get the most they can and during the winter months cyvs flew off the market--I know I watch closely. Even the ones with the bonds paid are rather pricey and they would require some serious updating. I know you can offer less, but right now, I could get a new 3BR for what some of the 2BRs are going for even taking the bond in consideration. Like I said the ones in the middle of TV seem to be trying to capitalize on location and don't seem to have done a lot of improvements. Some seem like former rentals and literally have no upgrades.

I wonder if the market will cool for both new and resales during the summer and the resale prices will become more reasonable. Does TV increase discounts on the new inventory in the slower summer months?

[Heartnsoul]

the ONLY way you probably won't change anything is to design yourself which of course includes possible higher price, bond, taxes etc.. Resales can be great. Lots of people already did landscaping, floors, countertops, etc.. so great possibilities and may not even have a bond. You may not like certain things but can always change in time. Take your time and look, look, look. It will be fun either way to get the place exactly how you want it to be. Good luck

[Dr Winston O Boogie jr]

The new are easy to look at as the price is set, but if your looking to take advantage of someone wanting to leave, then look at resales and low ball them. We bought new and feel good about our choice of purchasing. I would not be comfortable profiting from someones misfortune.

Why would you look at it as profiting from someone's misfortune. Why would you not recognize that you are helping someone out of a bad situation.

I bought my house from a guy that had to move back up north and needed to sell in a hurry. He was very happy to take a small loss and was grateful that I came along. Another house in my neighborhood sold because the owner had died and his kids wanted nothing to do with it. They were very happy to take an amount considerably below market value to get the thing off their backs.

[mickey100]

Why would you look at it as profiting from someone's misfortune. Why would you not recognize that you are helping someone out of a bad situation.

I bought my house from a guy that had to move back up north and needed to sell in a hurry. He was very happy to take a small loss and was grateful that I came along. Another house in my neighborhood sold because the owner had died and his kids wanted nothing to do with it. They were very happy to take an amount considerably below market value to get the thing off their backs.

Absolutely. My neighbor's husband died and her house sat on the market for almost a year. She was living up north with her kids and had to continue to pay the monthly amenity fees, utilities, insurance and taxes while the house was unoccupied. She was thrilled when she finally was able to sell it, although considerably less than what she was asking.

[John_W]

As others have said, its a mix of pluses and minuses. The price you actually pay for a used villa will be less than the asking price. And you will have less or no bond to pay. This could easily equal $20K, ...

On CYV's the bonds aren't as high as single family cottages and designers. Our 2011 masonry CYV bond was $14,000. I believe we paid about $1100 on our tax bill last year for the bond. I think our current payoff is about $13,700 if we wanted to do that later this year.


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[John_W]

Also, just two weeks ago our neighbors from Connecticut who don't retire for 7 more years, we would see exactly every three months for one week. This last time they decided to sell the 2BR Marathon CYV and buy an Arlington CYV in Sanibel that was well over $200,000. In one week's time, they listed their home and bought a new home, before the week was up they sold their two year old home shown below.

Yesterday I met the new owners, they have closing today. The home was purchased for $161,000 in 2011 and was furnished nicely by Southern Lifetstyles and landscaped front and back by Mansfield. They listed the home for $199,000, which I thought was pretty high and sold it in two days. I don't know the purchase price but the seller said he made over $20,000.

http://www.thevillages.com/homes/vls/pohdetail/Images/ImageDisplay.ashx?pid=10758&name=213152_1&w=400&h=300

Properties of The Villages (http://www.thevillages.com/homes/vls/pohdetail/vlsdetail4.aspx?vlsnum=213152)

The info is still up today, but it may come down soon since they are having closing today Thursday 4/11/13.


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[Bonnevie]

so figuring he had the realtor fees, he probably got close to asking price

[Ohiogirl]

right now, it seems like the cyvs between 466 and 466A are rather pricey with not much in the way of improvements. I don't blame the owners for trying to get the most they can and during the winter months cyvs flew off the market--I know I watch closely. Even the ones with the bonds paid are rather pricey and they would require some serious updating. I know you can offer less, but right now, I could get a new 3BR for what some of the 2BRs are going for even taking the bond in consideration. Like I said the ones in the middle of TV seem to be trying to capitalize on location and don't seem to have done a lot of improvements. Some seem like former rentals and literally have no upgrades.


Guess it just depends on what's on the market. A former rental (2BR CYV) just sold in our 2006 built neighborhood - no improvements that I saw online. But I would guesstimate that only 10% or less in our neighborhood are rentals. Most of us have done combinations of major landscaping, driveway painting, birdcages, lanai enclosures, window tx, flooring replacement, inside painting, storage space in attic, etc., plus our initial bonds were about $9,600.

Maybe rental owners are finally able to not lose money when they resell and are getting out of the rental business - they have probably found out that it is not an easy way to make money.

Yes, our roofs and HVAC systems are now 7 yrs old (some have transferrable 10 yr warranties on HVAC systems). Some window tx are very specific but many are things like upgraded blinds and inside shutters.

Just saying don't rule out resales.

[Bonnevie]

I don't intend to...am planning to look at some this weekend...along with new ones...hoping as someone said, I'll just know when I see it

[LynnDeb]

the ONLY way you probably won't change anything is to design yourself which of course includes possible higher price, bond, taxes etc.. Resales can be great. Lots of people already did landscaping, floors, countertops, etc.. so great possibilities and may not even have a bond. You may not like certain things but can always change in time. Take your time and look, look, look. It will be fun either way to get the place exactly how you want it to be. Good luck

We bought a resale North of 466, no bond, mature landscaping and very little to change out...

[CFrance]

Also, see this thread about insurance companies denying sinkhole insurance to many used homes. https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/sink-hole-insurance-denied-re-sale-buyers-74817/

This would be a killer for me.

[Barefoot]

the ONLY way you probably won't change anything is to design yourself which of course includes possible higher price, bond, taxes etc.. Resales can be great. Lots of people already did landscaping, floors, countertops, etc.. so great possibilities and may not even have a bond. You may not like certain things but can always change in time. Take your time and look, look, look. It will be fun either way to get the place exactly how you want it to be. Good luck

I think you get way more for your money with a resale. Not only is the price negotiable, and probably the bond is lower or paid off, but it probably includes some pricey updates like a birdcage, solar tubes, glass front door, landscaping, attic stairs, summer kitchen, hot tub, painted driveway, etc.

I highly recommend the Village of Belvedere which is delightfully central and 5 minutes by golf cart to the library, Publix, restaurants, Walmart, Bealls, Ace Hardware, and a plethora of shops.