Buying and older house question
 

My wife and I are seriously looking to buy a house in The Villages in the very near future. We have visited several times and have a couple of friends that have moved there, so we are fairly familiar with it.

We have come to the conclusion that we would like to be in the in an established area versus the new builds down in the southern part. We would prefer “between the sixes,” but have also looked at houses between Lake Sumter and Spanish Springs around Tierra Del Sol.

We have seen a couple of houses online recently that were completely renovated, but built in the late 90’s. I have read and heard about insurance difficulties regarding roof age and all of that, so we’re fairly informed about that. I also believe homes built after 2004(ish) had different building requirements such as hurricane clips. I know that it is preferable if a home built before that has these hurricane clips added later.

I am just curious if anyone has any other pros/cons or concerns for buying a home built in 1998-1999 or so versus something built in the 2000’s. I know that probably is a loaded question, but we have learned a lot from this site and just want to do our due diligence and look at all angles. Thank you in advance!

There are plenty of houses available that are less than 10 years old. To me, it would make no sense to buy a house that is 25 years old. I don't know what your budget is, but I would make sure that you buy a house that has garage space for 2 cars and a separate golf cart garage. A lot of older houses do not meet this requirement, but it is very important for function and resale.

Thank you. Our budget is around 700K. We have primarily looked at newer houses, but a couple have come up that are completely remodeled and look new. The age is the only thing that concerns us. I should’ve added we prefer a golf course or water view if possible. I know that limits the available inventory.

In that price range, a water view or golf course view is a must. But, unless the lot is magnificent, I don't think it will increase in value anywhere close to a newer house. The age will work against it.

I would suggest looking at Sunset Pointe. The houses there were built around 2005, when the housing bust started, so they have not appreciated as much as other Villages areas. But, there are some nice golf course and water views and large trees available. Good luck.

Between the sixes is a great choice. That is where we first bought. My advice would be to include the area just south of 466A. Hillsborough, Pinellas, etc.

4 yrs ago we purchased a house in the Spanish Springs area. Like you we preferred the older neighborhoods and mature landscaping. Our house was built in 2001 ( just before the hurricane wind mandate) and had a 2 year old roof. The inspections were good but the insurance company ( Progressive) questioned the wind mitigation and asked for an amendment to the inspection showing compliance. Knowing that the requirement was imminent the builder had already implemented the changes and the inspector showed that we were in compliance and the insurance company was satisfied.

So it's pretty easy to find out if an older home, you may be interested in, is in compliance or not.

I think you have already made up your mind. IMO, the homes North of Rt466 are an excellent choice for several reasons.
The bond is paid off
Established neighborhoods with comfortable seniors
Established and mature landscaping
Many more reasons, I'm sure.
Look for one that has had the roof replaced in the last few years
One that has had a new AC/HC replaced in the last few years
Once you have potentially decided on a place, have an inspection performed and any repairs made before closing.
Just my opinion, of course. The prices are down right now, but will start climbing again, IF/IF the interest rates drop on mortgages. I've seen home prices in the Villages drop up to $50K in just the last few months. Snatch one up now while the price is low. You can always move again later if you see something you like better. Most folks move at least twice or even three times before they finally find their "forever home" in the Villages.
IMO, in areas where there are very few homes for sale, probably means that folks love it there and have no intention of moving. That makes a nice neighborhood, IMO.

Personally I'd not go with a direct water view. In the Villages that usually means "view of a retention pond" and those can dry out or become very low during droughts, increasing mosquito activity and a view of dead fish on the banks. If you go with a golf course view, make sure your house won't be too close to the destination of a slice. Some homes have to put protective shields over their windows just for the purpose and you can see the dings on their siding from where balls have hit them.

Being in a neighborhood that HAS a water or golf view is awesome. You get to see it, but not have to live directly in line of the occasional unfortunate results of it.

If you go for an older home, getting it inspected is an absolute must. Also, you'll want to check with ARC on any exterior modifications, make sure they've been approved. Things like an unusual color of the house or shutters, any landscaping features, driveway expansions or surface paint, and similar. The last thing you need is to move into your gorgeous home, and some freak in the area submits a complaint that your entire sidewalk layout was never approved and you end up having to dig it up and rebuild a new one that complies with their restrictions.

For the area you're looking, you probably won't need to spend $700k. You could probably find a spacious, well-kept home in excellent condition for under $500k. Largo and Sabal Chase have quite a few options right now.

Agree
 

Totally agree. If you are watching the market, the indicators of a turning upward would be changes in inventory or mortgage rates both of which correlate. Just put a shortcut for Zillow Access to this page has been denied and Bankrate Current Mortgage Rates: Compare Today's Rates | Bankrate on your frequented device. Right now there is still the downward trend, but how low can it go?

Most of us are waiting for a couple of recession indicators before anyone can really say much else. The job market is numero uno.

Whatever you do hire a qualified home inspector, and walk the house and take notes during inspection.

We bought a 2005 build back in August in Winifred (between 466 and Palmer). Absolutely love the area. Got it for a great price and we are in the middle of doing renovations. We feel central to pretty much everything that we want. Just can't beat the location. My advice, if it needs some updating (and many do), just make sure you get it at the right price and allow for reno. If you can find one already recently upgraded, so much the better. Best of luck.

Our last house was built in 1960 and I can tell you that it was MUCH better in quality and workmanship than our home here that was built in the early 2000s. We also have a motorhome and the common advice there is to buy a used one that has all the kinks worked out.

IMO, be careful with a golf course view.
If you are on an executive, you will have a parade of golf carts every 7 minutes, all day. I would especially avoid the area around a tee box or the green.
On a championship, you’ll have less traffic after 12:00 , so it’s not as bad.

I think between 466 and 44 is the sweet spot now, for pre owned. 466A to 44 are newer, have upgrades done and many have bond paid off.

Our home was built in 1995 and has hurricane wind mitigation. This is just south of Spanish Springs. I believe you get more for your money with an older home. Landscaping, home upgrades, renovations, and stable neighborhood, and generally better construction than the newer homes

Can you define "better construction"? That is not my experience in The Villages. Also, be careful about a house that has extensive landscaping that requires a lot of maintenance. Many people want a smaller lot with less landscaping.