[WiscoDogsDad]

HOWDY!

My plan is to be a Villages home owner by the end of next summer. I'm a planner.

I have a spreadsheet started, for estimated/budgeted costs of maintaining the home....this spreadsheet is ONLY about the house...not food, not clothing, not entertainment/lifestyle.

It is...as far as I know...fairly comprehensive as it's been compiled with the help of my ten-year Villages veterans....my parents.

If you were blindsided by any monthly home costs, I would appreciate your insight.

You have my appreciation, in advance.

[Bill14564]

Originally Posted by WiscoDogsDad

HOWDY!

My plan is to be a Villages home owner by the end of next summer. I'm a planner.

I have a spreadsheet started, for estimated/budgeted costs of maintaining the home....this spreadsheet is ONLY about the house...not food, not clothing, not entertainment/lifestyle.

It is...as far as I know...fairly comprehensive as it's been compiled with the help of my ten-year Villages veterans....my parents.

If you were blindsided by any monthly home costs, I would appreciate your insight.

You have my appreciation, in advance.

Three that I can think of:

1. Homeowners insurance. Mine was initially lower but, as everyone knows, it has increased recently. That would be something for you to watch out for.

2. Property tax (at least for pre-owned homes). The year you purchase your home you will pay tax based on the previous owner's assessments and exemptions. The next year those will reset to your purchase price (which will be higher) and your exemptions (which will be lower). This could result in a significant jump in property tax.

3. Amenity fee. The fee that the current owner is paying is likely less than the fee that you will pay. Their fee was established when they purchased the home and has increased steadily since. It is likely that it has not increased to be the same amount as the current fee set when the home changes hands. For example, they may be paying $170/month while yours might be set at $195. Not a showstopper but maybe an unexpected adjustment.

[WiscoDogsDad]

Originally Posted by Bill14564

Three that I can think of:

1. Homeowners insurance. Mine was initially lower but, as everyone knows, it has increased recently. That would be something for you to watch out for.

2. Property tax (at least for pre-owned homes). The year you purchase your home you will pay tax based on the previous owner's assessments and exemptions. The next year those will reset to your purchase price (which will be higher) and your exemptions (which will be lower). This could result in a significant jump in property tax.

3. Amenity fee. The fee that the current owner is paying is likely less than the fee that you will pay. Their fee was established when they purchased the home and has increased steadily since. It is likely that it has not increased to be the same amount as the current fee set when the home changes hands. For example, they may be paying $170/month while yours might be set at $195. Not a showstopper but maybe an unexpected adjustment.

Outstanding....thanks....probably should have listed what I HAVE, to facilitate answers....For review and critique:
Type Mthly est - 2024
Mortgage 1100
Electric 150
Gas 25
Villages Utilities (Amenities embedded) 350
TV 80
Internet 45
Landscaping service 90
Mowing service 65
Exterminator service 40
Bond 100
Real Estate Taxes 250
HVAC 15
Homeowner's Ins 200
Auto Ins. 140
Painting, ext. 25
House washing 6
Flatwork washing 5

[JerryLBell]

Originally Posted by Bill14564

Three that I can think of:

1. Homeowners insurance. Mine was initially lower but, as everyone knows, it has increased recently. That would be something for you to watch out for.

2. Property tax (at least for pre-owned homes). The year you purchase your home you will pay tax based on the previous owner's assessments and exemptions. The next year those will reset to your purchase price (which will be higher) and your exemptions (which will be lower). This could result in a significant jump in property tax.

3. Amenity fee. The fee that the current owner is paying is likely less than the fee that you will pay. Their fee was established when they purchased the home and has increased steadily since. It is likely that it has not increased to be the same amount as the current fee set when the home changes hands. For example, they may be paying $170/month while yours might be set at $195. Not a showstopper but maybe an unexpected adjustment.

Between a bumper crop of recent hurricanes and the litigious-friendly atmosphere in Florida, insurance companies have been either jacking their rates up like crazy, dropping customers who have ever filed a claim (legitimate or not, paid out or not) or even gotten out of the market here. In the nearly 8 years we've been here, home insurance has gone from "a bit high" to "kind of crazy".

As soon as you get here, go to the local government offices and check in on getting a Florida Homestead Exemption. This can lower your tax bill a bit in the long run.

"HOA" fees (we call them "Amenity" fees here) are going up for new homes and will probably eventually go up for pre-existing homes. Nobody likes to see a monthly bill go up but when you compare them to the fees at other retirment communities, they are really pretty reasonable, especially if you consider what all The Villages offers.

Depending on where you're coming from, you might find food prices to be quite high. That's not a Villages thing; that's a Florida thing. Generally, the specialty stores like Sprouts and The Fresh Market will be the highest. Publix gets dinged for higher prices than Winn Dixie but has (I think) a much larger selection. Wal-Mart has lower prices but can be a zoo to shop in. Aldi and Wal-Mart Neighborhood (their grocery-only stores) seem to have the lowest prices but very limited selection.

If you leave "the bubble" and drive around Florida, you'll be hit with toll roads almost everywhere to the south. It's best to get a Sun Pass or other automatic payment device as you get a discounted price on the tolls over the "bill by plate" method you get stuck with if you don't have such a device.

If you haven't bought a golf cart yet, be prepared for sticker shock. You can probably buy them somewhat cheaper outside of The Villages, but even so they will probably cost more than some of the cars you've owned in years gone by. Besides the more-or-less standard features like roof, roll-down sides, turn signals and rear view mirrors, make sure you get some extra lighting, seat belts (and USE THEM!) and better seats. The base seats will save you some serious coin over the nicer bucket seats but the better seats are SO MUCH MORE COMFORTABLE! Well worth it in the long run, if you ask me.

Budget for dining out, perhaps a LOT more often than you have in the past. You'll get to know people and people love to socialize over dinners (or breakfasts or lunches) out.

Budget for travel. If you're a fresh retiree, you've probably only had a few weeks per year to go anywhere and maybe were limited by having to bring kids with you. Now that you've got the time, go see the world! It ain't free by any means to do so, but also well worth seeing the places you've only ever dreamed of.

Budget for a new car. You won't need one and, in fact, you might be able to scale down to a single car and a golf cart, as so many of us have. However, there are a LOT of guys who get to this point and think, "I've always wanted a Corvette and always denied myself as I had kids to raise, put through school, etc. If I don't get a 'Vette now, I'll never get one!" and run out and get a 'Vette. You'll be amazed at how many Corvettes there are here. And Porsches. And other sports cars that seem utterly wasted on Villages roads with speed limits ranging from 20 (where multi-modal paths merge with streets and in traffic circles) to 30 (neighborhoods) to 35 (multi-lane "main" roads like Morse and Buena Vista).

Budget for sports equipment, such as shorty wet suits for playing water volleyball in, pickleball racquets and balls, golf clubs, airsoft guns, etc., etc. You'll probably pick up some new liesure activities while you're here.

Budget for theme parks. You're close to Disney World, SeaWorld, Universal Studios, Busch Gardens, Gatorland, Lego Land, Kennedy Space Center, Tampa Zoo and more. You may not be into these things, but your visiting family and friends will be and will want you to go along. Florida residents can get annual passes for nearly all of these that can be HUGE savings over the "daily" rates at all of these but are still pricey to buy. We got Disney World annual passes early on that cost less than the combined single-day admission for all four of their parks. Thereafter, we could go in and not pay for parking, not pay for admission and get discounts on food and souvenirs (or not buy either). We would stay only as long as we felt like it and left when it got too crowded or hot and come back another day to explore another part of the park. We went something like 16 times that year. We had similar experiences with all the other parks. Though we don't do it, some folks get Disney (or wherever) annual passes every year.

Budget for new furniture. You may drag down all the old furniture you've had for years, get here and realize the pieces really don't go well with the Florida sense of style. You'll probably need lanai furniture too.

It ain't cheap to retire, but it can be the best time you've ever had.

[villagetinker]

OP, your mortgage appears to be low, but not knowing the amount or length of your proposed mortgage it might be right. We have 15-year 3% mortgage, and it is over twice of your estimate. Also, TV is very low, unless you are streaming everything and even then, it appears to be low.

You completely missed medical, even with Medicare and supplemental figure on $150 to $250 per person per month, not including co-pays. Now if you are figuring on Medicare Advantage plans, your coverage will be limited as the villages health system only accepts 3 or 4 advantage plans and many outside doctors do not accept advantage plans, contact SHINE for unbiased info, SHINE - Home.

[Teed_Off]

1. Apply for the Florida Homestead exemption.
2. Budget for a new roof, HVAC and water heater every 15 years.

[LuvtheVillages]

Originally Posted by WiscoDogsDad

Outstanding....thanks....probably should have listed what I HAVE, to facilitate answers....For review and critique:
Type Mthly est - 2024
Mortgage 1100
Electric 150
Gas 25
Villages Utilities (Amenities embedded) 350
TV 80
Internet 45
Landscaping service 90
Mowing service 65
Exterminator service 40
Bond 100
Real Estate Taxes 250
HVAC 15
Homeowner's Ins 200
Auto Ins. 140
Painting, ext. 25
House washing 6
Flatwork washing 5

At $100/month, the bond amount will not be enough if you purchase a newly constructed home. It may be ok if you purchase a home that the previous owners have been paying on the bond for the last 15 or so years.

Electric will be ok at $150/month if you purchase in the SECO service area. If the Duke area, it will be more.

[WiscoDogsDad]

Originally Posted by villagetinker

OP, your mortgage appears to be low, but not knowing the amount or length of your proposed mortgage it might be right. We have 15-year 3% mortgage, and it is over twice of your estimate. Also, TV is very low, unless you are streaming everything and even then, it appears to be low.

You completely missed medical, even with Medicare and supplemental figure on $150 to $250 per person per month, not including co-pays. Now if you are figuring on Medicare Advantage plans, your coverage will be limited as the villages health system only accepts 3 or 4 advantage plans and many outside doctors do not accept advantage plans, contact SHINE for unbiased info, SHINE - Home.

Many thanks, Tinker!

(First, any chance you are the kind soul that helped my father repair an heirloom pepper grinder a few months back?)

I'll be tweaking the mortgage numbers based on the net proceeds from my Wisconsin residence and the gap to bridge to the value of my Villages home. I'm guesstimating $150k and a 30-year fixed, at 6..625%, is $960 per month.

As for medical, it's factored elsewhere...this is a subset budget to keep the roof over my head. In fact, I'm working full time for the first two to four years of Villages residency and have fabulous coverage.

[WiscoDogsDad]

Originally Posted by Teed_Off

1. Apply for the Florida Homestead exemption.
2. Budget for a new roof, HVAC and water heater every 15 years.

Have not heard of that exemption. Will investigate and talk to my father to find out if he's leveraging it....many thanks!

[Topspinmo]

Didn’t see End year maintenance impact fees. Can go down by tiny bit or can jump 25% or more? Mine jumped 25% last year and expect same this year? Not lot of money but if on tight budget could be shock at end of year.

[villagetinker]

Originally Posted by WiscoDogsDad

Many thanks, Tinker!

(First, any chance you are the kind soul that helped my father repair an heirloom pepper grinder a few months back?)

I'll be tweaking the mortgage numbers based on the net proceeds from my Wisconsin residence and the gap to bridge to the value of my Villages home. I'm guesstimating $150k and a 30-year fixed, at 6..625%, is $960 per month.

As for medical, it's factored elsewhere...this is a subset budget to keep the roof over my head. In fact, I'm working full time for the first two to four years of Villages residency and have fabulous coverage.

Yes, on the pepper grinder, it was an interesting project.

[WiscoDogsDad]

Originally Posted by JerryLBell

Between a bumper crop of recent hurricanes and the litigious-friendly atmosphere in Florida, insurance companies have been either jacking their rates up like crazy, dropping customers who have ever filed a claim (legitimate or not, paid out or not) or even gotten out of the market here. In the nearly 8 years we've been here, home insurance has gone from "a bit high" to "kind of crazy".

As soon as you get here, go to the local government offices and check in on getting a Florida Homestead Exemption. This can lower your tax bill a bit in the long run.

"HOA" fees (we call them "Amenity" fees here) are going up for new homes and will probably eventually go up for pre-existing homes. Nobody likes to see a monthly bill go up but when you compare them to the fees at other retirment communities, they are really pretty reasonable, especially if you consider what all The Villages offers.

Depending on where you're coming from, you might find food prices to be quite high. That's not a Villages thing; that's a Florida thing. Generally, the specialty stores like Sprouts and The Fresh Market will be the highest. Publix gets dinged for higher prices than Winn Dixie but has (I think) a much larger selection. Wal-Mart has lower prices but can be a zoo to shop in. Aldi and Wal-Mart Neighborhood (their grocery-only stores) seem to have the lowest prices but very limited selection.

If you leave "the bubble" and drive around Florida, you'll be hit with toll roads almost everywhere to the south. It's best to get a Sun Pass or other automatic payment device as you get a discounted price on the tolls over the "bill by plate" method you get stuck with if you don't have such a device.

If you haven't bought a golf cart yet, be prepared for sticker shock. You can probably buy them somewhat cheaper outside of The Villages, but even so they will probably cost more than some of the cars you've owned in years gone by. Besides the more-or-less standard features like roof, roll-down sides, turn signals and rear view mirrors, make sure you get some extra lighting, seat belts (and USE THEM!) and better seats. The base seats will save you some serious coin over the nicer bucket seats but the better seats are SO MUCH MORE COMFORTABLE! Well worth it in the long run, if you ask me.

Budget for dining out, perhaps a LOT more often than you have in the past. You'll get to know people and people love to socialize over dinners (or breakfasts or lunches) out.

Budget for travel. If you're a fresh retiree, you've probably only had a few weeks per year to go anywhere and maybe were limited by having to bring kids with you. Now that you've got the time, go see the world! It ain't free by any means to do so, but also well worth seeing the places you've only ever dreamed of.

Budget for a new car. You won't need one and, in fact, you might be able to scale down to a single car and a golf cart, as so many of us have. However, there are a LOT of guys who get to this point and think, "I've always wanted a Corvette and always denied myself as I had kids to raise, put through school, etc. If I don't get a 'Vette now, I'll never get one!" and run out and get a 'Vette. You'll be amazed at how many Corvettes there are here. And Porsches. And other sports cars that seem utterly wasted on Villages roads with speed limits ranging from 20 (where multi-modal paths merge with streets and in traffic circles) to 30 (neighborhoods) to 35 (multi-lane "main" roads like Morse and Buena Vista).

Budget for sports equipment, such as shorty wet suits for playing water volleyball in, pickleball racquets and balls, golf clubs, airsoft guns, etc., etc. You'll probably pick up some new liesure activities while you're here.

Budget for theme parks. You're close to Disney World, SeaWorld, Universal Studios, Busch Gardens, Gatorland, Lego Land, Kennedy Space Center, Tampa Zoo and more. You may not be into these things, but your visiting family and friends will be and will want you to go along. Florida residents can get annual passes for nearly all of these that can be HUGE savings over the "daily" rates at all of these but are still pricey to buy. We got Disney World annual passes early on that cost less than the combined single-day admission for all four of their parks. Thereafter, we could go in and not pay for parking, not pay for admission and get discounts on food and souvenirs (or not buy either). We would stay only as long as we felt like it and left when it got too crowded or hot and come back another day to explore another part of the park. We went something like 16 times that year. We had similar experiences with all the other parks. Though we don't do it, some folks get Disney (or wherever) annual passes every year.

Budget for new furniture. You may drag down all the old furniture you've had for years, get here and realize the pieces really don't go well with the Florida sense of style. You'll probably need lanai furniture too.

It ain't cheap to retire, but it can be the best time you've ever had.

Jerry,

Thank you so much for the kind, thoughtful and thorough response!

Lots of the points you make are covered under other subsets of my budget. This is just to keep a roof over my head....nothing else.

For example:
- I'm in contact with Babette's Furniture and one opinion is to budget 10% of the home's value for furnishings and decorating
- I'm carrying $17k for golf cart
- Have NOT started to consider budgetting for travel. I'll be working full time for the first two to four years as a Villages resident
- Our family did Disney to DEATH in the seventies and eighties....and there are no children nor grandchildren in my life. I will take the money that MIGHT have been spent at "The Most Expensive Day on Earth" for other luxuries.

My intention is to work right up until the day I have the house all upgraded to my desires, the mortgage paid to zero, and a new car in the garage....then stop worrying about a THING.

[WiscoDogsDad]

Originally Posted by Topspinmo

Didn’t see End year maintenance impact fees. Can go down by tiny bit or can jump 25% or more? Mine jumped 25% last year and expect same this year? Not lot of money but if on tight budget could be shock at end of year.

Topspin,

I don't understand the cost to which you're referring....and that scares me a little. Can I impose upon you to give me details?

This is EXACTLY the kind of thing for which I'm looking! BLINDSPOT!

[WiscoDogsDad]

Originally Posted by villagetinker

Yes, on the pepper grinder, it was an interesting project.

I owe you!

For DECADES, all I've ever asked for in the will is that grinder!

[tophcfa]

All in all I think the monthly expenses of owning a Villages home are very reasonable. The three that bother me the most are homeowners insurance (although I pay it annually, not monthly), the amount I feel that has to be stashed aside for periodic maintenance (roof, HVAC, water heater, etc…), and having to pay a service company $150 per month to come by weekly for about 5 minutes of maintenance on the pool. I would most definitely do the pool myself if we were there full time, but it can’t be ignored when we aren’t there. I don’t mind paying for Ammenity fees, trash pickup, and base water and sewer rates for about half the year when we aren’t there, but it bothers me that some of the full timers, who are beneficiaries of part timers paying fees year round, bitch about part timers showing up to use their homes and cheer when they aren’t there.