What is the attraction of the historic section?
 

Thank you all again for answering all my questions. Per the advice I have received on this forum I have done the lifestyle visit and have arranged to rent a house for the winter while I decide where to buy. One thing that has me scratching my head is the older homes in the Spanish Springs area seem to sell for as much or more than newer homes near Brownwood. Many of the older homes seem so dated, there appear to be fewer pools and such but the prices paid do not seem to reflect these deficiencies. This leads me to wonder if I am missing something that makes the older areas more attractive. I drove around a LOT while I was on my lifestyle visit and could not answer this question for myself, so I am asking the source of all Villages knowledge.

What is the attraction of the older section?

Please clarify, as (at least for me), it looks like you are talking about BOTH Spanish Springs as well as the Historic area, two separate areas. Is that right?

You're definitely confusing terms. The "Historic" section, as it's known, is comprised of the three Villages on the east side of SR 441. The three Villages are:

Village of Silver Lake
Village of Orange Blossom
Village of Country Club Hills

There is a Country Club (Orange Blossom Country Club) with a full service restaurant and a pool with a waterfall and jacuzzi plus golf.

They enjoy the Paradise Recreation Center, which is home to a family pool.

There's also the pool at Silver Lake, and another one off St. Andrews called Hilltop.

The Historic section is mostly manufactured homes that were rolled in around 1985. There are still a few original "mobile homes" that predate the terminology switch from the 1970's, and there are several site-built houses, some of which are rather luxurious. Mostly though the properties are less expensive than you'll find anywhere else in the Villages, because the houses came into the place in pieces and are not set on foundations, but are raised off the ground and set on several raised platforms beneath them. There's a crawlspace between the floor of the home and the dirt underneath, mostly for utilities and water pipes leading in and out of the home.

The Spanish Springs area closest to the town square has a few luxury townhouses and the Village of DelMar which has a mix of some manufactured homes with mostly site-built homes. The townhouses range from the upper $300ks to over $500k. The prices for DelMar are on the low end of "moderate" but on average, higher than the Historic Section. On the other side is the Hacienda rec center and corresponding villages, which can be pretty pricey, because they're high-end in quality, size, and property-specific amenities (such as pools and built-in wood cabinetry, whole-house stereo and security systems, etc. etc.) on larger lots of land.

I am a little confused by the OP's post. In my experience, you can buy an older resale house for a lot less money than a newer resale. Are you sure you are comparing houses that are similar in size and amenities? To me, the historic district offers a better location on terms of shopping and restaurants than the Brownwood area. If you don't mind living in an older house, I think the historic district is fine, but I agree that the price should be lower than a newer house.

Sorry.... this shows how little I know. I meant the area near Spanish Springs and vicinity. Sorry for the confusion.

And this is what the form is for.

A BIG advantage of the older homes around Spanish Springs is that their bond is either paid off or nearly so.

When you purchase a newly built home, it comes with a bond that you are obligated to pay, in annual installments added to your property tax bill. The bond amount is around $40,000 or so, and is additional to the price of the home.

With pre-owned homes, annual payments were being made. The older the home, the more payments that were made. Some homes may have even paid off the bond. So when you purchase an older home, your bond obligation is reduced or eliminated. In the historic section, there is no bond.

I am sorry that I must correct you.

The bond is NOT nearly that high except for Premier Homes. The bond on designers and cottage homes is around $25,000 and CAN be paid off at once if you so wish. The bond is figured into home pricing, whether it is paid off or not. Older homes are escalating in price here just like newer ones. I do NOT sell real estate. I just enjoy watching this market.

Being close to a Town Square is a big plus, for many people, and from some villas you can walk there. Are you looking at asking price or sold price. Lots more room to negotiate on older homes.

Nucky lives there!!!!

Chitty Chatty has bonds of over $40,000. St Catherine is $32,815. No Premier homes there.

Different strokes for different folks on attractiveness of various areas. We love the area we live in, between Spanish Springs and Lake Sumter, North of 466. I am 5 minutes by golf cart from two championship golf courses, fifteen minutes from five others, within a half hour of 3 more, and about 35 - 40 minutes to the remaining two. It takes us about 7- 8 minutes to get to SS and 8 - 9 minutes to get to LSL. We can go to shows at the Sharon, Savana Center, and plays at the Studio at Tierra Del Sol all within a maximum 10 minute golf cart ride. We even went home to use the bathroom and grab a bottle of wine during intermission of a play at TDS and made it back in time. I can swim laps at La Hacienda, Laurel Manor, and Lake Minoan with only a short cart ride, and drive a little further and swim laps at Mulbury, Colony Cottage or Seabreze. Both Publix and Winn Dixie are a close ride away for groceries and Fresh Market is a little longer ride. We are very close by golf cart to all the shopping we would ever need including Lowel’s, Walmart, Target, etc.... We are also a short golf cart ride from many dinning options. You really can easily get by living in that area with no car as long as you have a golf cart. There are also many great places in that area to fo fishing. The older areas also have very mature landscape which I find attractive. I have heard some say they prefer the younger age of residents in the newer area, but I disagree. Due to the age of Villagers, there is constant turnover. Not only are people passing of old age, but many move into assisted living or back up north to be with family, especially after loosing a spouse. In the 5+ years we have been in our neighborhood we have witnessed major turnover and our neighborhood has gotten much younger. And the preowned home we purchased had no bond, as well as an almost new roof and HVAC system. The only thing I am very envious of is that the design and conditions of the executive golf courses in the further southern areas is generally much better. Hope this information is helpful and good luck : )

Great point!

I agree with Tophcfa, the areas around Spanish Springs are beautiful, such as Mira Mesa, Chula Vista, etc. Although we don't live there, I wouldn't have a problem doing so.

Older vs new/newer
 

I myself have been looking at new homes South compared to older homes in the North. There are cheaper houses that need updates but in a good location, older homes with upgrades and new Villages close to turnpike. The older homes have little to no bond but may reflect in higher prices. If you don’t mind the Turnpike within earshot the new homes with full bond is a good option IMO because the upgrades are present. Since you are at an advantage being in the area renting I would take your time and explore the established areas especially between Lake Sumter & Brownwood. I have been researching for 2 years for purchasing mid 2021. The prices seem to have jumped since Fall/Winter 2020. Prices nationwide have risen 7% according to articles I have read in recent weeks. Prices may or may not fall in late Spring to Summer 2021 with snowbirds departure. If you don’t mind a carport the patio villas are a nice option under $170,000 for a 2/2 in Hawkins. We will be down mid Spring to look at leftover homes in Bradford & St Catherine’s. I myself have been debating back and forth between older lower cost homes in the North past Lake Sumter and a new home in the new build area. I need to get down there and explore like yourself. Be cautious when looking at homes Northwest in District 4. The sinkholes are prevalent and have an added bond maintenance due to the issue. I do not know this first hand. I have only read about the ongoing issues. I have viewed a map of the sinkhole problem areas and they decrease going further South. Below is a district map (not sinkhole map). Check out Goldwing Nut on YouTube. His videos are great for viewing areas from above. The man is a wealth of information. Have fun in your new adventure.

The bonds in the SS are, or will be close to paid off, due to the age of homes, so should not be in the mix.

What is special about the homes in SS area is the detail of the homes, in the architecture. They are special usable nooks, contour to the walls, that you don’t find in the newer builds. It’s details, that you find in older homes anywhere that makes you fall in love with a home.

We would have no problem buying in the older areas, if it was the space that would work for us. I love the original premier homes, that you notice the special touch when you walk into a room. Problem for us is we want a 3 car garage which is few and far between

I think the big draw is the proximity to shopping and restaurants. Until the area on 466a and Powell Rd started getting shopping and some restaurants, everyone from the southern section of The Villages had to come up to 441 for department stores, home improvement stores, and most of the restaurants. In fact, many of the complaints here on TOTV is the absence of shopping and restaurants south of 44. That, of course will eventually change, but for now being someplace where you don't have to drive more than 30 - 40 minutes to get to these destinations is worth something.

From my research the homes north of 441 in Orange Blossom are definitely cheaper than newer ones down south. There is a charm to the old district that can't be found in newer areas. I love the feel of the historic side where it's much more relaxed and a real 'village' feel. And the more mature landscape is truly beautiful.

The Spanish Springs area is in Lady Lake, Lake County. Bonds are prohibited by either county or municipal law. There have never been bonds on those homes.

I live in Silver Lake. When people from other villages visit, they often comment that it's quiet here.

One other factor to consider for older homes: condition of roofs, HVAC systems, and water heaters. When we considered older homes, we saw many that needed work or replacement. Seller may not even be aware of work that's needed.

A home inspection should be recent and report offered by the seller.

Many, actually most of the homes in Spanish Springs are in Sumter County. One advantage is that it isn't a town, it's an unincorporated area of Sumter County, so there is only a county tax that we pay. No town tax here, so we pay less tax.

The more relaxed deed restrictions in that area allow for a much more varied feel than the more cookie cutter homogeneous look in the newer areas.

OP, as I’m sure you found out if you want a new construction home they are south of State Rt 44. The only exception would be in the Historical section (east of 441). Those on TOTV who live there can report if that is still being done. Frankly it’s been several months since I visited the Historical side of The Villages. A year or two ago the Developer was buying up older mobile homes and building a number of site built homes in that area of The Villages. The area you speak about near Spanish Springs is a mix of site built homes, some Villas, some condos.and some manufacture homes. Some prefer them because they generally have fewer deed restrictions. Some of these homes have been updated and some haven’t. Lots of choices of various homes in The Villages. Something for everyone and generally in every price category.

Our experience was that we could get more much more house for the money in the Spanish Springs or Sumter Landing area. We also like the fully developed landscaping and huge trees. Our house is 4 miles from SS and 5 from Sumter Landing - about 10 minutes by golf cart. We also have cart access to several grocery stores, many restaraunts, drug stores, Lowes, you name it.

The flip side is that our house is 20 years old with all the normal issues associated with a house that old. Residents tend to be older too but that is changing as they (literally) die off and younger folks move in. My cul de sac is about half and half original residents and new.

Another downside is that the developer has decided to build apartments in the existing residential areas where it is feasible. This has been vehemently opposed by the residents to no avail.

Further research, its East, for the record....

U.S. Route 441 (US 441) in Florida is a north–south United States Highway. It runs 433 miles (697 km) from Miami in South Florida northwest to the Georgia border north of the Lake City area.

The attraction to the historic part is the same as anywhere in The Villages. There are lovely homes for sale there. Here is one of them; P.S. I do not nor have I ever sold real estate. I just love it here.

Take a gander at this nice home in the historic area;

Homefinder - The Villages(R) Homes and Villas for Sale

We bought in 2017 and are about 1/2 mile from Spanish Springs. House did need updating. We liked the fact that the neighborhoods do have old/mature foliage. Most of the new homes are too close together. Could have bought new home with land behind us. Realtor could not tell us how long we would have a good view and we would have had to pay a premium(with no guarantees) We are less than 1 mile from 2 Publixes and numerous chain restaurants, less than 2 miles from a Lowes and a Home Depot.

No bond in lake County also.

That can be true any where in The Villages. I'm South of 466a and mine is paid off. :eclipsee_gold_cup:

Can we call it north east of the 441?! :popcorn:

No!

Yes, if you go on google earth 441 does NOT run straight north/south in that area. Historic side is North northeast of 441.

:1rotfl::1rotfl::1rotfl::1rotfl:

:coolsmiley::bigbow:

:ohdear: There are some people in District 11 that would disagree with you. :oops:

Thank you for the information. I do have a question too about buying an older home. How are the basic, physical structures of the homes? I wonder if high winds and rains may have affected their integrity. I can easily have flooring and paint exchanged and maybe a few interior structural changes done, but the rest, I don't want to have to worry about. I appreciate all comments and thoughts.

The area between 466A and SR44 is in fact the highest priced area in all of The Villages. We purchased 2 homes in this area since 2014. Last one purchased in June 2017 for 455K and sold this past October for 635K. No other area in TV has appreciated as much.
Knowing we have reached the peak of the bubble here in TV we are using the profit and building on the coast in SW Florida.

That is why so many adult children live there with their parents. you can read all about them just about every day in the online news.

The original homes in Fenney that were in that price range have matched that appreciation and the cost of homes continue to increase, the peak has not been reached yet. It used to be anything over $600,000 included a pool, not so true today as there are many homes south of 44 without pools that are selling for well over $600,000. Too early to build on the coast but then again those prices keep going up also.