Once the build out is complete will house prices fall?
 

So many people want a new home. Many think a 5 year old house is "OLD". Not me I'm from New England and have not owned a house younger than 40 years old.

However a vast number of buyers only want new.

Question for the audience:

Would all you new home buyers have bought a house in the Villages if the youngest house available to you was 5 years old?

T-325

Yes, but finding the "right" house would have definitely been harder. We frequently look at used houses and our general opinion is most of them would take a lot of work to make them what we would want.

NO way

When you buy in TV you are buying into a lifestyle. Yeah...the home is an issue; but, so long as the lifestyle exists - they will come. If anything, prices will increase as supply becomes more limited.

The only way I think prices could fall as a result of completion of the buildout would be if the developer has been subsidizing living costs with the large profits on the sale of new lots and new houses. Other than that, I cannot see how eliminating the availability of new homes would lower the number of people wanting to buy used homes.

That would be my guess.

If nothing else... inflation will rule, imo.

Supply and demand would suggest after buildout prices will continue to rise as the supply becomes finite.
The demand will continue as long as the lifestyle we all like and bought into continues.

There are 10,000 baby boomers turning 65 every day for the next decade!

A ten year old home in TV is like new home....2 elderly adults keep most of them as new.

btk

No crystal ball here. We aren't in the same time of life we used to be, so my take on it is to enjoy today and let the kids worry about whether our house is worth more or less than we paid for it.

Its hard to say what will happen. Right now, everything is shiny and new. The lifestyle is here, as many mentioned. However, a terrific amount of money is spent on advertising and luring new buyers here. After buildout, that probably won't happen. The homes will age. Things will start to look dated. There will be a finite number of homes, but other retirement communities are popping up across the country, and I'm sure some of them will try to emulate The Villages, giving us more competition. That, along with the aging of our community, may work against The Villages home prices.

all the above is possible. However I do know my "aging" home that I built in 1975 for $50,000 sold, again, a few months ago for over $300,000!!!! We sold it in 1978 for a litle less than $100,000.

btk

If anyone really thought the price would drop then why not reverse mortgage it? Let them pay you now (annuity of course) at what you think is the highest value the house will have (if you think the price is coming down in the future).

I too am a New Englander and would gladly have bought a 5 year old house because, like you, to me that is new. That said, I did buy a new house. Just worked out that way.

Frankly, I'm not convinced that build out will ever come. The developer and his family for generations to come have a gold mine here. Why would they close it down?

I wish this was all I have to worry about, besides. My kids will be the seller so why do I care