55+ Communities that go under
 

We are looking at age restricted communities, and while some are appealing one of our concerns is doing any of them have financial, maintenance, etc issues down the road. Since we are seasonal residents of the TV this question would be regarding a permanent home. Thanks for any assistance.

Why look anywhere else?

TV will not make any changes to their home plans, there are other communities that will. We want a home that we can age in place, wider doors and hallways, as an example. In addition, we do not want to be in Florida year round.

If you have to have your own way, you won't be happy here.

The Villages has some huge financial issues on the horizon. The IRS investigation is into the hundreds of millions of dollars in penalties and interest. When the bill is finally tallied, it remains to be seen who will end up paying.

The transfer of the amenities south of CR466 from the developer to the districts is another big ticket item. If history repeats itself (as in what happened north of CR466), the developer will be asking for much more than what it cost to build said amenities.

We are very happy here, as snowflakes.

What happened north of CR466 when the amenities were transferred?

I too would like to know of an age restricted community that is financial strong between here and Fort Myers - if anyone knows of one on the Gulf side, please let me know - thanks.

http://www.buzzfeed.com/likethebread...retirem#cma11w

This writer explains how it was done in very easy to understand language. However, he doesn't give any footnotes for his information. As I recall, his info is accurate.

Interesting article.

we have a home in the plantations of leesburg, lake county, which is actually in Okahumpka, about a 20 minute drive to brownwood.. we purchased a prime golf front lot stucco home $245. The HOA was and still is $86 a month, past 8 years. we are a true gated community and you are not allowed to enter unless you have gone threw security. They write down your plate and you are given a pass to display on your windshield.

The subdivision was transfered to the homeowners i believe 3 years ago when they sold there last new home, and the business managers have invested the money well. This is the reason the hoa has not changed and the reserves are in the millions.

The plantations has almost the same ammenities of the villages, just not the population. no free golf but you can join and pay for a membership.....golfs not my thing, but I do like the free hot tubs, exercise rooms, sauna and steam baths. tennis, botche ect all open till 11pm every night.....clubs are open to whatever you want to create. All included in the 84 hoa...no bonds either.

We puchased a home in the villages as well to take advantage of rental income.

Just a thought.....you might want to check out. plantations of leesburg.

There are a number of retirement communities in Central Florida but none compare to The
Villages. The IRS issue is with the Developer---not the residents.

OH STOP.
That is simply not correct.

The lawsuit is challenging whether a CDD can issue Tax free municipal bonds. We are not the only CDD form of government in Florida but we are by far the most successful. Possibly the most successful way of running a town our size in the world.

The attorney fees are protecting the matter of the CDD form of management, which is what makes this place so special and so well run and not ordinary. In essence it is keeping the place like it is, but some of the outside interests and Morse bashers don't like that.

PLEASE see how much better it is than if it were run like a HOA. Someone would have spent our money for a big performance center that could not sustain itself and cut back on the flowers and the trimming. Someone would decide it would be cheaper to paint all of the rec centers the color of their favorite sports team.

Something like the POA would be suing the developer at every whip stitch and the pools would be overtaken by aliens and the chairs would be inhabited by the urban poor from Orlando.

Sorry. Got carried away. The last few statements were meant as sarcasm and have nothing to do with my opinions or those of my heirs and assigns.

Whoops. I promised myself I would stay off this forum.

You have an eloquent way with words Gracie and I love to come on here to watch you keep everyone in line. Keep up the excellent work...and maybe you should be tweeting too! If you did I would get a twitter account and follow you.