The "Bonds" at The Villages
 

My husband and I were at the Villages the first part of May on the Lifestyle Program for four days. We loved it!!!!
We were curious on how they determine the "bond". We know the bond goes with the pre-owned homes.
Does the bond goes by percentage of the price you pay for a new home?
Thanks for all the help in advance.:wave:

bond is set by density or type of neighborhood
 

others can explain this better than I can, but each "Community Development District" which usually consists of several Villages, all built approximately the same time or stretch of time, sets the bonds.

For instance (and someone may correct me here), all patio and courtyard villas have the lowest bond (last I heard was about $12,000 each), then ranch or cottage homes and designer homes (around 20,000 each - ?), and lastly premier homes (I have no idea, but it is higher). Every time a new CDD opens, it appears the bond prices go up a little (understandable as costs for infrastructure go up).

An advantage of buying a resale or older home is that the bonds are less or, in many cases, paid in full.

The bonds we pay have nothing to do with the price of the house but moreso the denisity of houses within the CDD. The lower the denisty the higher the bond. Premieres have the highest bond and lowest density. As an example, you can have 2 houses across the street from one another and one is on the golf course while the other is on an inside lot.......the bonds for both houses are the same but the price of the golf course house is much higher than the home on the inside lot.

Bond Calculations
 

Pretty sure the amount of the bond is calculated based on the square footage of your lot. That is why Villas are less than Designers, etc.

We just bought in Lady Lake because there are no bonds to deal with there ! However some resales in the newer areas have had the bond paid off and some haven't, you need to ask so there are no surprises.

Do you think we should tell Mr. Tony, Mr. Admin, Sir that this thread has accidentally landed in the wrong forum?

Or maybe it has not......I bet there are lots of times when people in TV go out to dinner and end up talking about the bonds.

Boomer

Part of an acre.

How the Bond is calculated.
 

How does the District arrive at the amount? Does everyone pay the same amount?

The formula starts with the total cost of the bonds (including interest) that are issued to pay for the infrastructure. That cost is divided equally among each assessable acre in the “phase” of the District for which the bonds were issued. That gives you a cost per acre. The cost per acre is then multiplied by the number of acres in the unit which you live. That gives you the obligation for the unit as a whole. The unit total cost is then divided by the number of lots or parcels in the unit, and that computation gives you the amount of the assessment levied against each property. Therefore, each lot within a unit pays the same amount. The Bond Debt Assessment was set at the time the District issued the bonds used to build the infrastructure.
Source: Village Community Development Districts VCDD website.

http://www.districtgov.org/howDoI/PayBond.aspx

You nailed it Boom!!!:beer3:

average size of lots count, not individual (I think)
 

Well, regardless of the forum (doesn't it feel kind of neat that it slipped in where it didn't belong? - like we slipped something past an English major), I want to point out that it is not the size of the individual lot - e.g., all CYV bonds in the same neighborhood are the same, whether you have a teeny lot or a big corner lot big enough for a pool.

I'm not explaining this well, but what I'm trying to say is that yes, bonds for patio and Courtyard villas are lower because the average lot size is smaller, and that's also why I think designer and ranch (now cottage) bonds are the same in the same CDD. I don't think there is any difference (in the same CDD) for the bond for lots with "kissing lanais" or for those with golf course or water lots, or big cul de sac lots - can anyone confirm that?

If I were Zoomie's defense counsel, I would point out that my client was inquiring about the recipe for bonds. :icon_hungry:

Sorry, it was my fault I was in the wrong thread. I didn't know you had to be in the topic to write something. Just a newbie at this!

:welcome:
Zoomie, we're glad you're here and hope to hear lots more from you.

It can be confusing to get started. To start a new thread in the "proper" forum, start on the Talk of the Villages (TOTV) home page. There you will see a list of forums, with a description of what they're supposed to be about.

Then, click on the appropriate forum. Next, scroll down below the ads at the top. Just below the ads and above the black bar that says, "Threads in Forum," you will see a blue button that says "New Thread".

Click on the blue "New Thread" button and you are good to go.

Rumor has it that Tony, one of the administrators, will beat you up if you post in the wrong forum. The rest of us will poke fun, be secretly glad you tweaked Tony and/or come to your rescue.

Happy posting!

--P

Hi Zoomie,

Please do not feel bad. I did not even know what a forum was when I started here so you are way ahead of me. It took me forever to work up the courage to post anything. And now I can't stop.

When I started, I think there were only two forums "Villages" and "Non-Villages" and now there are a lot of different ones. It's kind of like a library around here.

I was just kidding because Tony wrote us a post recently that said to please be sure to start new threads in the correct forum. And then everybody started to tease Tony about that. Ohhhh, so hard to explain. But we really are glad you are here and welcome to TOTV.

And Pturner gives really good directions so now you will know about where to find the thread start thing..

And, actually, I was really liking how this one landed in "Restaurant Discussions." I remember when I had to figure out whattheheck this bond thing is. I asked a lot of questions about it. And I know it has been talked about a lot in restaurants. It's kind of serendipitous or something like that to have the bond topic in the restaurant forum. But it will probably get moved soon by Mr. Tony so that somebody later on can find it more easily.

Boomer