Who bought new Villages Home before selling old one?
 

Made the mistake of looking at veranda villas at Fenney today. Beautiful homes. Considering trading up. Love the 2 car plus golf cart garages, the straight garage driveway, the walk in shower, the larger yard and house. Talked to a mortgage guy about bridge loans. Should have stayed home today.

We did this but used a home equity credit line instead of bridge loan. If you have enough equity it is much easier.

They're building lots of them in Fenney as well as DeSoto, if you feel more secure, sell your home first, you'll sleep better.

Sending a PM

This worked for us too.

In 2010 we came to look at homes. If we bought a spec house we had 60 days to go home and clean out 33 years of accumulation and list house which, at the time, 1 in 12 homes in our area were in foreclosure. So we looked at lots because The Villages gave you 6 months to give ok to build and 2 months to build which gave us 8 months to sell house at home. We went back home and held yard sales, craigs list made neighbors, friends and relatives come and not leave house without carrying something home to remember us by. We had all dark pine furniture that we knew would not work in FL. This was in May. July 1st we get a call from The Villages that if we could give ok to start building they would drop the price 3%. We listed and the house sold in 2 hours with several bids at asking price and above. The people we picked were willing to rent on a per month basis and give us time to move so we didn't have to rent. Best thing we ever did. Times have changed and the market is much better. Take the leap. You will not regret it.

I am guessing by your comparisons in the OP that you have a villa. Seems those go pretty fast around here unless there is something about yours that would make it less attractive. Of course you could see that as reason to sell before you buy if can do it quickly or even justify buying before selling. I live in a Veranda and keep an eye on what’s for sale and what sold recently. There were 75 Verandas for sale about 2 weeks ago and now there are 62. Not sure if any more are coming on the market soon or not. But that’s almost a 1 per day pace here recently. They don’t all have golf cart garages and some have views and some don’t. So unlike courtyard villas, they are anything but all the same in a given area. When it comes down to it, they are just designer homes with fenced in yards. We love ours.

At one time we owned 4 homes in 3 in TV, and one up north. As long as you can sleep at night all is good. We did sell first house we bought in TV shortly after we closed on the third house.

What a great story. Especially liked your idea of neighbors, friends, and relatives stopping by and taking something to remember you by. We will not be selling our house for awhile, but I have already thought of a few items that I want to give to loved ones, both as a remembrance and because I know they love them. But having others just stop by and choose is a great idea. Thanks for sharing your story. So glad everything worked out so smoothly for you. Hopefully things will line up as well for the OP.

We were in a situation similar to yours! We had a courtyard villa we absolutely loved. We had it for 2 1/2 years prior to moving here, and used it as a cottage for long weekends. Moved down here permanently in October of 2016. After being here a short time I really, really wanted a 2 car garage... but not enough to get serious about buying a new home. Flash forward about a year - we had just finished about $20K in renovations and additions to our CYV when we got a call from a realtor we knew. The last 2 car garage home in Phillips Villas had just had a significant price reduction - were we interested? We were in Seattle at the time... so we bought the home sight unseen.

Absolutely loved the new home, and for a couple of months we owned 2 CYV's. Had both of them through Hurricane Irma, no damage to either. We had no issues selling our old home, and the Home Equity loan on a new home option is fantastic for this scenario. You can get a home equity loan for 80% of the NEW HOME value. You put down 20%, and you don't have all of the paperwork of a normal mortgage. We literally only had to fill out 2 pages, and approval happens very quickly. It's about 1% higher than a normal mortgage loan, but we didn't plan on keeping a balance. When we sold the old home, we paid off the home equity loan, and now have an open line of credit for 80% of the new home. The bank even pays all the closing costs!

Go ahead and get the home you want - your old home will sell, you'll be happier, and life in The Villages will be incredible - as always!

You asked and this is my opinion. I think it is safer and easier to sell your home first. The Villages will NOT accept any contingencies or holds on new homes, but I am sure there will be more Veranda homes available when you sell. Having extra garage space is wonderful here and having your yard fenced is great for dog owners. There are ALWAYS pluses and minuses to any real estate decision.

Fenny is a long way from Tipperary! Besides I hate to lose a new neighbor.

People are just so drawn to a new home like those being built in Fenney. I prefer the previous owned homes. Many of them have the upgrades and are really not that old. Many have the bonds paid and their closer to shopping and many golf courses. My two cents.

Everyone has a different idea of what they want, there are hundreds of people that love Fenney and there are most likely just as many that hate it. TV is so large now that you have your choice of just about anything from a manufactured home up north to premier homes throughout TV. Some want new and some want used, but it's very hard to change their minds once made up. Fortunately there is lots and lots of new and re-sale homes available from top to bottom. Enjoy the process

We did this, home sold in 2 weeks, interest on bridge loan was much less than what we got in our new home which was discounted $17,500 to close out the neighborhood. Go for it, life is short why not be happy [emoji3]


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