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: 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. |
If you are paying $140 A month for lawn maintenance you're getting ripped off.
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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! |
It’s like comparing a Ferrari to an Accord, both get you there but only one is truly an experience to treasure!
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I think your start your choice with the size of the community.
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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.
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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. |
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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? |
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Once the snowbirds leave golf is a whole different world here.
Steve |
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Very appreciative of them, but those rascals make it crowded. |
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