Cost of buying a villa

[Band1t]

I have down loaded the TOTVebook and found it very informative. My wife and I are looking at buying a villa in TV and have been tring to find the cost, such as sales tax and closing cost, etc on a new home???

[Bogie Shooter]

[QUOTE=Band1t;787926]I have down loaded the TOTVebook and found it very informative. My wife and I are looking at buying a villa in TV and have been tring to find the cost, such as sales tax and closing cost, etc on a new home???[/QUOte
These sites may be helpful. Welcome to TOTV!

The Villages - Florida's Friendliest Retirement Hometown - New Home Sales, Home Resales, Build Your Dream Home, Brownwood Paddock Square (http://thevillages.com/)
The Villages - Lifestyle Preview Plan (http://thevillages.com/comevisit/lpp.asp)


https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/closing-costs-new-home-43141/

Calculating closing costs for a home sale or purchase in The Villages Florida 352-217-3179 (http://www.thevillageshousesforsale.com/ClosingCosts)



About The Villages Florida (http://www.lylesellsfla.com/professional5.shtml)

Pre-owned Homes for sale in The Villages Florida (http://www.kenwebersellsflorida.com/Pre-Owned_Vrs_NEW)

[mixsonci]

I came down in June last year and looked at the different models and picked the models I liked, then I went back home and scoured all the homes on the internet, I spent weeks looking and printing out every model and compared the different models and features that appealed to me, I did all this while my Condo in Massachusetts was being sold. By the time it sold, I had found the house I wanted, called my TV rep (Victoria Campbell) and told her which one I wanted. She went to the house and took pictures of it for me, 30 days later I signed via Power of Attorney (my brother closed for me) and now own a beautiful home in Collier Village.

BTW, Victoria told me in last June, that building your own home option was coming to an end very soon. That they were not going to give people that option anymore and if you wanted to buy a house it would have to be an already built home. Don't think they have enforced that yet, however.

[PaPaLarry]

[QUOTE=Band1t;787926]I have down loaded the TOTVebook and found it very informative. My wife and I are looking at buying a villa in TV and have been tring to find the cost, such as sales tax and closing cost, etc on a new home???[/QUOte
These sites may be helpful. Welcome to TOTV!

The Villages - Florida's Friendliest Retirement Hometown - New Home Sales, Home Resales, Build Your Dream Home, Brownwood Paddock Square (http://thevillages.com/)
The Villages - Lifestyle Preview Plan (http://thevillages.com/comevisit/lpp.asp)


https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/closing-costs-new-home-43141/

Calculating closing costs for a home sale or purchase in The Villages Florida 352-217-3179 (http://www.thevillageshousesforsale.com/ClosingCosts)



About The Villages Florida (http://www.lylesellsfla.com/professional5.shtml)

Pre-owned Homes for sale in The Villages Florida (http://www.kenwebersellsflorida.com/Pre-Owned_Vrs_NEW)
Good Info Bogie!!!!

[2BNTV]

I have down loaded the TOTVebook and found it very informative. My wife and I are looking at buying a villa in TV and have been tring to find the cost, such as sales tax and closing cost, etc on a new home???

You can also read "the nuts and bolts" section as Zcaveamn wrote a three part, "Everything You Need To Know About Moving To TV", that is extremely informative.

Taxes are approximately 2% of the sales price. There is a "Home Exemption" write off, as long as you live in TV exclusively, (permanet and only residence), that can be obtained when you have live here in January. I paid the full amount for my taxes this year and it will be reduced by a third with the "home exemption", next year. Nothing, like the taxes from where, I had come from. Life is good!!

Closing cost are nominal to the buyer. I would have to look it up, but if I remember correctly, it cost me about $600.


Best wishes in finding a new home. :smiley:

[baustgen]

If you buy a new home also add the following if not included, blinds or shades $2000, attic fan $400, humidistat $200, additional landscaping $1000, and start up fees for bug control, lawn service, plate transfer $400/car, and any changes the wife decides she needs to make.

[Band1t]

You can also read "the nuts and bolts" section as Zcaveamn wrote a three part, "Everything You Need To Know About Moving To TV", that is extremely informative.

Taxes are approximately 2% of the sales price. There is a "Home Exemption" write off, as long as you live in TV exclusively, (permanet and only residence), that can be obtained when you have live here in January. I paid the full amount for my taxes this year and it will be reduced by a third with the "home exemption", next year. Nothing, like the taxes from where, I had come from. Life is good!!

Closing cost are nominal to the buyer. I would have to look it up, but if I remember correctly, it cost me about $600.


Best wishes in finding a new home. :smiley:

Thanks for the Info Sage, it helped

[OBXNana]

Recently on this forum I read a thread about closing costs. There was a lot of discussion concerning money paid on new construction purchases if you don't settle within a specified period of time. As we're approaching the day we want to commit to a new construction in The Villages and we asked our Agent:

Once you commit to a new construction purchase you have 30 days to close. There is nothing available for contingent to sell another property or obtain financing. Closing can be delayed past the 30 day period, by paying $40.00 per day. The total cost for the 30 day extension is $1,200.00. I didn't think to ask what happens on the 61st day.

In a nutshell, when you purchase new construction you can have the funds to pay cash. Sadly, we do not, and need to make sure we don't commit to the purchase until we are certain we can obtain a loan in 30 days.

We will now begin working with banks. Even if it takes a few days past the 30, if the banks costs and rates are lower, it may be to our advantage to pay $40.00 per day.

Does anyone have experience with new construction and how likely it is for the banks to close within 30 days of making the commitment? In our state you have to do a pre-qualification prior to making an offer. We may get the pre-qualification process completed before we commit to a purchase in The Villages.

We have found the fees and costs to be openly disclosed. Now it's up to us to decide if we are willing to accept the terms to live in The Villages full time in 4 years.

Yup, in a heart beat!!!

[Michigandress]

Remember that, in The Villages, the advertised prices do not include the bond--the amount of which should be added to the advertised price to determine the real price.

[2BNTV]

[B][QUOTE=OBXNana;796134]We have found the fees and costs to be openly disclosed. Now it's up to us to decide if we are willing to accept the terms to live in The Villages full time in 4 years.

Please consider the following:
1. Prices are going up, in very significant amounts.
2. You may have less choices, as build-out nears the end of completion. Assumng you want a new home and Mr. Morse doen't buy more land, to build another development. Who knows????

Just sayin... but I am sure your aware of these devlopements. I would still keep in contact with a VLS agent because somethings, change fairly fast in TV like prices, homes available, etc.

Just trying to be helpful. :smiley:

[OBXNana]

We appreciate any help we can get! Thanks.

On the other thread, I can't seem to find, people were upset with the $40.00 per day fee if you don't close within the 30 days of signing a contract. When I played with rough numbers in my head (not totally accurate!) it came to the average cost of a $200,000.00 loan at 6% interest. In theory, if your loan amount is over $200,000.00 and the current interest rate is 6% (don't think they're that high yet) it's a bargain to pay the $40.00 per day fee.

Personally, we're going to jump in when we're about 30 to 60 days from wanting to settle. We will have to rent the house for 4 years and have PM'd a couple people for guidance. Anyone that has info that help us self manage from PA, feel free to get back in touch. We're like sponges and need as much info as possible.