Fees - Question on Amenities, Bonds, etc.

[Mr.Kris]

Do all villagers pay the same amenity fee, i.e. amount?

Or is the amenity fee based on the facilities in the District you live in?

How is the amenity fee calculated? With new facilities being built and older facilities needing upkeep, how are the costs balanced with the fee? I understand that the amenity fee, based on each home owners Declaration of Restrictions (par. 4 of the documents I reviewed), is based on the Consumer Price Index. However, I don't put a great deal of faith in that clause since par. 7 states that the Developer, or his assignee can unilaterally change the Declaration of Restrictions.

If the amenity fee is based on the district you live in would it be a consideration to buy a pre-owned home north of 466 for a lesser fee?

Or if you buy a pre-owned home is the amenity fee recalculated at time of purchase?

I understand that some homes have the bond paid off. Has a district ever had to issue a new bond to pay for failing/new infrastructure? Thus starting the bond process all over again?

I would greatly appreciate any informed comments. Through knowledge, I'm trying to narrow my search for a TV home while leveraging my resources.

[gerryann]

Amenity fee is the same for everyone. At this time it is $145.

[Golfingnut]

Amenities are based on when you buy and not where or what you buy
Each property come with a bond dept. we paid ours when we closed however some folks pay the bond monthly like a personal loan. With no tax incentive and over 6% interest on all remaining bond, we elected to pay it off up front.

[graciegirl]

No matter where...the amenity fee now is about $145 and is based on the cost of living.

The bond for the infrastructure is leveled once only and can be paid off or continued is about

23K for designers and CYV's and I am not sure if cottages fall into the same catagory too.

And much less for patio villas. ..About 11K?

It is about 49K for premiers.

Older homes may have their bonds paid off or paid down.

We paid cash for both of our homes here but chose to not pay off the bond because if we decide to sell and move the asking price appears less and we think that makes a property easier to sell.

However, there are many that just hate to pay the high interest rate to the developer.

This is a huge argument, but when we moved here we weren't sure we would like it and wanted to be sure we could sell and leave easily if we didn't. Now that we are in our second home we do love it here, but never know when we might like to move to another part of TV or another model we may love. We recently saw a two story home on Lake Sumter that we thought...what a great house and view. It wasn't for sale, but you never know what you might want to do in the future.

Some people come here and say, I will never move again and they don't but plenty have moved two or more times in The Villages.

Never say never.

[Advogado]

No matter where...the amenity fee now is about $145 and is based on the cost of living.

The bond for the infrastructure is leveled once only and can be paid off or continued is about

23K for designers and CYV's and I am not sure if cottages fall into the same catagory too.

And much less for patio villas. ..About 11K?

It is about 49K for premiers.

Older homes may have their bonds paid off or
We paid cash for both of our homes here but chose to not pay off the bond because if we decide to sell and move the asking price appears less and we think that makes a property easier to sell.

However, there are many that just hate to pay the high interest rate to the developer.

This is a huge argument, but when we moved here we weren't sure we would like it and wanted to be sure we could sell and leave easily if we didn't. Now that we are in our second home we do love it here, but never know when we might like to move to another part of TV or another model we may love. We recently saw a two story home on Lake Sumter that we thought...what a great house and view. It wasn't for sale, but you never know what you might want to do in the future.

Some people come here and say, I will never move again and they don't but plenty have moved two or more times in The Villages.

Never say never.

Technical correction: the "high interest" is not paid to the Developer. It is paid to the bondholders, who bought the bonds that were issued by your numbered District to raise cash to pay the Developer for the infrastructure. Given your usual defense of everything the Developer does, I am surprised that you would accuse him of charging high interest. He does not do so, and I think you owe him an apology.

[graciegirl]

Technical correction: the "high interest" is not paid to the Developer. It is paid to the bondholders, who bought the bonds that were issued by your numbered District to raise cash to pay the Developer for the infrastructure. Given your usual defense of everything the Developer does, I am surprised that you would accuse him of charging high interest. He does not do so, and I think you owe him an apology.


He isn't any more my developer than he is yours and everyone elses who lives here.

[Mikeod]

It is the amenity fee annual increase that is tied to the CPI, not the fee itself. In my time here, the amenity fee has increased by $25 over seven years, not a great increase for the amenities provided (new exec golf courses, new rec centers with new courts and new billiard rooms) plus I have seen older centers/amenities refurbished.

The bond is determined by the number of new homes/lots in a division (not a village). Since a villa neighborhood likely contains more units per division, the bond is smaller on each home. And the opposite for premier sections. Add to that the increased costs of providing the infrastructure, and the bond costs rise. But the bond amount is determined prior to homes being purchased or released for purchase and doesn't change whether you are first to buy in the section or last.