Talk of The Villages Florida

Talk of The Villages Florida (https://www.talkofthevillages.com/forums/)
-   The Villages, Florida, General Discussion (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/)
-   -   Difference in home prices between TV and On Top of the World Revisited (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/difference-home-prices-between-tv-top-world-revisited-284685/)

gfmucci 02-10-2019 07:54 PM

Difference in home prices between TV and On Top of the World Revisited
 
Back in 2008 I wrote an opinion comparing prices in The Villages to prices of home in On Top of the World in Ocala on THIS thread.https://www.talkofthevillages.com/fo...illages-12174/

At that time I said:

"On top of the World prices compared to The Villages
________________________________________
Even with "The Bond" rolled in, The Villages Prices are competitive with or better than "On Top of the World" prices based on an internet promotion I received from OTOTW this morning."
Now, 11 years later, I have a different opinion as regards RESALE homes. I haven't compared new home prices.

Here it is:

There are maintenance free block construction Villas in OTOTW that start in the high $80's with the majority being in the $90's to $120's. To get this price in The Villages (oh, you can't), but the closest you can get is to look at older manufactured/mobile homes in the so-called Historic District. Fixer uppers or pre-1976 mobile homes that can't be financed will be at the lower end of that range in TV. Very few homes start at $120,000 with most in the $129,000 to $140,000 range. Which would you rather be in when a Cat 2 hurricane or fringes of a tornado rip by - a block home or manufactured/mobile? Most resales in the newer sections start well above $160,000 and most of those are wood frame.

There is a difference in "amenity fees". In TV, the fee is currently $159. In OTOTW the fee is $417. But considering this fee includes lawn maintenance, exterior building maintenance, water, sewer, and trash disposal sites in additional to the community amenity package, I claim it a "wash." (The Villages: weekly lawn service $35 x 4 = $140 month, plus W&S = $60 a month, plus trash $25 a month, building maintenance and outside insurance leaves about $150 for amenities.

So, for low-end resale homes, my conclusion is there is more house, and more substantial house for the money in OTOTW. But, it can be said of TV that obviously used homes appreciate more because this price differential did not exist 11 years ago.

skyking 02-10-2019 08:15 PM

If you are paying $140 A month for lawn maintenance you're getting ripped off.

Fraugoofy 02-10-2019 08:38 PM

Quote:

Originally Posted by gfmucci (Post 1623861)
Back in 2008 I wrote an opinion comparing prices in The Villages to prices of home in On Top of the World in Ocala on THIS thread.https://www.talkofthevillages.com/fo...illages-12174/



At that time I said:


"On top of the World prices compared to The Villages

________________________________________

Even with "The Bond" rolled in, The Villages Prices are competitive with or better than "On Top of the World" prices based on an internet promotion I received from OTOTW this morning."


Now, 11 years later, I have a different opinion as regards RESALE homes. I haven't compared new home prices.



Here it is:



There are maintenance free block construction Villas in OTOTW that start in the high $80's with the majority being in the $90's to $120's. To get this price in The Villages (oh, you can't), but the closest you can get is to look at older manufactured/mobile homes in the so-called Historic District. Fixer uppers or pre-1976 mobile homes that can't be financed will be at the lower end of that range in TV. Very few homes start at $120,000 with most in the $129,000 to $140,000 range. Which would you rather be in when a Cat 2 hurricane or fringes of a tornado rip by - a block home or manufactured/mobile? Most resales in the newer sections start well above $160,000 and most of those are wood frame.



There is a difference in "amenity fees". In TV, the fee is currently $159. In OTOTW the fee is $417. But considering this fee includes lawn maintenance, exterior building maintenance, water, sewer, and trash disposal sites in additional to the community amenity package, I claim it a "wash." (The Villages: weekly lawn service $35 x 4 = $140 month, plus W&S = $60 a month, plus trash $25 a month, building maintenance and outside insurance leaves about $150 for amenities.



So, for low-end resale homes, my conclusion is there is more house, and more substantial house for the money in OTOTW. But, it can be said of TV that obviously used homes appreciate more because this price differential did not exist 11 years ago.

Have you been to OTOW? Absolutely no comparison in my book, financial or otherwise...

Sent from my SM-N920R4 using Tapatalk

Nucky 02-10-2019 08:54 PM

Everyone see's thing's differently.

I know there is a 99-year lease on the land in TOTW.

I know I own the property where I live in The Villages.

What is your motivation for pointing out your opinion here? Just wondering? Did you make the move to The Villages? Did you make the move to OTOW?

When I asked about 5 years ago what happens when the 99-year lease expires at OTOW they said don't worry you won't be around. Not an answer. For that reason and others we are happy here. So far.

Peace Out!

TheWarriors 02-10-2019 08:55 PM

It’s like comparing a Ferrari to an Accord, both get you there but only one is truly an experience to treasure!

graciegirl 02-10-2019 10:09 PM

Quote:

Originally Posted by skyking (Post 1623869)
If you are paying $140 A month for lawn maintenance you're getting ripped off.

I'll say. We pay fifty bucks a month.

rjm1cc 02-10-2019 10:28 PM

I think your start your choice with the size of the community.

collie1228 02-11-2019 08:56 AM

I think your analysis should mention that the amenity fee in The Villages includes golf on 40 executive golf courses. I don't know much about OTOTW, but I'm certain their amenity fee doesn't include anything like that.

dewilson58 02-11-2019 09:12 AM

Quote:

Originally Posted by TheWarriors (Post 1623880)
It’s like comparing a Ferrari to an Accord, both get you there but only one is truly an experience to treasure!




:bigbow:

NatureBoy 02-11-2019 09:15 AM

Thank you for doing this analysis. Clearly there are many other factors in play beyond sticker price. Total cost of ownership & total value received depend a lot on how many of the amenities TV offers a person uses.

I can't say I've done exhaustive research, but TV seems to give very good value for the dollar - even compared to the big Del Webb places. But a lot depends on what you value.

gfmucci 02-11-2019 09:37 AM

Quote:

Originally Posted by skyking (Post 1623869)
If you are paying $140 A month for lawn maintenance you're getting ripped off.

That would be true if it was merely "lawn mowing." I understand it includes mowing, edging, trimming shrubs, and lawn insect control.

Skyking. I took care of my own yard while 9 years in TV because I didn't want to pay that much for service I wasn't satisfied with. If you pay much less than that, your lawn probably looks like crap if you don't supplement the service with your own labor and chemicals. To be fair, I also understand that there are some in OTOTW who aren't satisfied with the level of lawn care provided.

Nucky. You ask what is my motivation? I'm retired - same motivation you had for responding to my post. Seriously, my motivation for bringing this up? To bring my initial 13 year old post, which is now misleading and unrepresentative of the pricing of lower priced resale homes in each area, up to date. And I like to write and compare things.

collie1228: I don't golf. Not everyone does. And reviews I've read about both places concerning golf claim some significant waiting/reservation periods in TV and little to no waiting in OTOTW. In short, the popularity of TV for golfing is creating crowds and waits. The lack of popularity of OTOTW creates the opposite. It's the golf facility to golfer ratio that is most significant. In fact, TVs popularity in general creates crowds and waits for most activities.

I understand TV is 10 times larger, has fee simple ownership without maintenance built into the fees and has publicly maintained and publicly accessible streets which helps keep fees down. Each community caters to a different market. I also noted that appreciation of lower end homes was greater in TV than OTOTW - prices have appreciated more for manufactured homes in the historic district than for block-constructed villas in the original section of OTOTW. That difference in appreciation resulted in the OTOTW Villas becoming less expensive, and therefor potentially a better value for those looking for a lower cost, safer, maintenance free home.

I'm also noting that it is easier to type TV than it is to type OTOTW in all caps.

I'm sure many will disagree with some or all I wrote. That is the fun of forums, isn't it?

graciegirl 02-11-2019 10:03 AM

Quote:

Originally Posted by gfmucci (Post 1624000)
That would be true if it was merely "lawn mowing." I understand it includes mowing, edging, trimming shrubs, and lawn insect control.

Skyking. I took care of my own yard while 9 years in TV because I didn't want to pay that much for service I wasn't satisfied with. If you pay much less than that, your lawn probably looks like crap if you don't supplement the service with your own labor and chemicals. To be fair, I also understand that there are some in OTOTW who aren't satisfied with the level of lawn care provided.

Nucky. You ask what is my motivation? I'm retired - same motivation you had for responding to my post. Seriously, my motivation for bringing this up? To bring my initial 13 year old post, which is now misleading and unrepresentative of the pricing of lower priced resale homes in each area, up to date. And I like to write and compare things.

collie1228: I don't golf. Not everyone does. And reviews I've read about both places concerning golf claim some significant waiting/reservation periods in TV and little to no waiting in OTOTW. In short, the popularity of TV for golfing is creating crowds and waits. The lack of popularity of OTOTW creates the opposite. It's the golf facility to golfer ratio that is most significant. In fact, TVs popularity in general creates crowds and waits for most activities.

I understand TV is 10 times larger, has fee simple ownership without maintenance built into the fees and has publicly maintained and publicly accessible streets which helps keep fees down. Each community caters to a different market. I also noted that appreciation of lower end homes was greater in TV than OTOTW - prices have appreciated more for manufactured homes in the historic district than for block-constructed villas in the original section of OTOTW. That difference in appreciation resulted in the OTOTW Villas becoming less expensive, and therefor potentially a better value for those looking for a lower cost, safer, maintenance free home.

I'm also noting that it is easier to type TV than it is to type OTOTW in all caps.

I'm sure many will disagree with some or all I wrote. That is the fun of forums, isn't it?

I remember you, sir. You had just moved from Destin or were moving from Destin, or thinking about moving from Destin, when I started posting on this forum and I asked if this place was a scam because it seemed too good to be true, and you jumped all over me and I was very surprised. I was new at forums but I have learned a lot since then. Did you leave The Villages?

anothersteve 02-11-2019 10:06 AM

Once the snowbirds leave golf is a whole different world here.
Steve

graciegirl 02-11-2019 10:07 AM

Quote:

Originally Posted by anothersteve (Post 1624017)
Once the snowbirds leave golf is a whole different world here.
Steve

Everything here is, Steve. Seven more weeks?

Very appreciative of them, but those rascals make it crowded.

gfmucci 02-11-2019 12:23 PM

Quote:

Originally Posted by graciegirl (Post 1624015)
I remember you, sir. You had just moved from Destin or were moving from Destin, or thinking about moving from Destin, when I started posting on this forum and I asked if this place was a scam because it seemed too good to be true, and you jumped all over me and I was very surprised. I was new at forums but I have learned a lot since then. Did you leave The Villages?

By "jumping all over" you, do you mean that I expressed a litany of reasons why The Villages was NOT a scam and was in fact a great place? Yes, we've been gone from the area for a couple of years. We may return, either back to TV or elsewhere in the area. I trust I gave you the truth back then. Are you glad you made the move?


All times are GMT -5. The time now is 10:15 AM.

Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
Search Engine Optimisation provided by DragonByte SEO v2.0.32 (Pro) - vBulletin Mods & Addons Copyright © 2024 DragonByte Technologies Ltd.