Question about buying a home in the Villages
 

My brother currently resides in the villages and my fiancee and I want to move there after we sell our homes.

My brother told me that the price of the model homes does NOT include the price of the land.

He purchased a home about 3 years ago and the agent told him they werent charging him extra for the land because there wre only three lots left where they were building.

My brother is not the brightest bulb in the lamp and he will always listen to car salesmen and RE agents.

Never heard of buying a house and then buying the land in a development like the villages.

So..is tge dim bulb right?

It's true when the neighborhood is almost built out, TV's Sales Dept. will give big discounts, sometimes even throwing in the lot with the house price, just to "close out" (finish) the neighborhood.

Each new home sold by the villages is priced individually, and includes the land. There is an additional "bond" that is added. You can either pay this off in full or it is financed over a period of years and paid with your property taxes.

When looking at models, you are told that the price quoted is for a standard lot. If you want a larger lot or waterfront or golf course frontage the price will be higher. Your brother was probably told that, even though the house he was looking at had a larger than standard lot, he was not being charged extra for it. This is exactly how new homes are sold almost everywhere. Most times the model prices are for standard lots, which are usually available. If you want a 'better' lot you pay extra.

That is what I thought. That if you home fits on whatever "standard" lot they offer, the price includes the land. If you want a bigger lot you have to pay for it. That makes sense.

I have visited my brother several times and his home is on a standard lot. I think the RE agent, who I met, was bloviating when she sold him the house. Didnt like her at all.

But then again, my brother thinks its okay to pay sticker price on a new car.

Just another quick question...we have looked on RE sites and used homes look like a great deal.

Is there any benefit to buying a new built house over a resale

I'll try to make this a little "muddier" for ya.....LOL

If you are buying a home which has not been built yet, you will choose your homeplan and be given a price for that house, then you will choose your lot, and the price of the lot will be added to the house. A lot of people choose, and buy, their lot years in advance, then choose a homeplan later, but each is priced seperately, so give bro a break, he's kinda right. IF you buy a home that is already built, even a new home, you will be quoted a complete price. I would ask, just to make sure, that when the agent gives you a price on a spec home, it is complete (plus bond). Now....you get to try to understand the bond!!!!! :)

See you got it while I was typing. However, there is NO negotiating on price with The Villages. They may offer a discount, but it's not like you may be used to when buying outside TV.

Lol...I never give my brother a break! I remember visiting him when the house was still being built. His house is on no special sized lot...some houses on his block are bigger and have a larger lot.

So I guess I have to get back to my original question...if his house was standard, built on a standard lot, would he have paid extea for tge land.

I would assume not and tge RE agent was basically fluffing him. Am I wrong with that assumption?

Even with a standard lot, he may well have had a small lot premium. This would have been disclosed to him and possibly the reason he felt he had to pay for the land as an extra. If one purchases a spec house, the lot premium is already in the advertised price.

Since he bought a new home, no "fluff." There probably was a premium on the lot that they discounted to close out that area. TV does not negotiate price on new homes. They may offer discounts or other goodies at times but don't hold your breath waiting to get one.

Advantages to new: All your neighbors are new, too, and, thus, more likely to do things together in the beginning; no one has lived in your home; you can put upgrades into your mortgage. Disadvantages: you have to pay for a full bond; you have to pay for all upgrades one way or another; your neighborhood will look pretty barren until all the landscaping grows up.

Advantages to preowned: Some or all of your bond will be prepaid; the house may have all or many of the upgrades you want; the neighborhood will look prettier since trees and landscaping have had time to grow. Disadvantages: neighborhood is established, possibly making it a little more difficult to make friends; you'll pay about the same as you would for a new home; repairs will probably come a little quicker than they would in a new home.

Either way, you really can't lose. TV is a great place to live, as you've already discovered.

We just bought new and love it. Demographics are on the younger side and everyone I have talked to has been super nice. We all still have that new villager high going on.

Yes you are wrong. Kinda. A bigger lot does usually cost more money and so does a view lot. The least expensive lots are interior lots backing on another home.

But at this point it is a moot question. All homes are built and not being built for you at this time. So what you see is what you get. On a new home the price is NOT negotiable. You can view both new and used homes in thevillages.com.

Or used homes in an MLS realtors site. New homes are ONLY sold by The Villages. They do not allow MLS realtors to sell them. Used homes are sold by both.

Only you can say what is a good deal. New and used homes are GENERALLY about the same price. All new homes have a bond that is NOT included in the price of the home and is the price for infrastructure, the roads, the pipes the rec centers, the golf courses.

On a courtyard villa the bond price on a new home is about $11k. On a designer, which is the predominant style of home, the bond is now at about $24K. On a larger home, the premier which usually has more space between them the bond on it is $50K.

On previously loved homes the bonds are figured in, or still have some part unpaid.

Gracie laid it out nicely for you, and be nicer to your brother because life is short and I wish I had mine back.

The Pros and Cons of New Vs Used were just what I thought.

Interesting point about making friends. My brother moved into a new home about three years ago. The neighbors were all very interested in making friends and attended socials, events and gatherings together.
That was three years ago and the dynamic has changed. Some neighbors don't like each other anymore, some have naturally made other friends and the good feelings have ebbed somewhat. I guess it is natural.

I thank everyone for their replies. My fiancée and I will be down again in the winter to begin kicking the tires so to speak. I still am not 100% convinced (after about 5 visits to TV) that it is the place for me. I see many plusses to the Villages but also cringe at the sameness of the homes, the "Disneyland" feel, and HOA style ownership (very few in my area).

If those things bother you now they will probably bother you even more after seeing them day after day after day. Suggest you rent for an extended period before you make a commitment.