2 part question.....what is a bond and what are the true costs?

» Site Navigation
Home Page The Villages Maps The Villages Activities The Villages Clubs The Villages Book Healthcare Rentals Real Estate Section Classified Section The Villages Directory Home Improvement Site Guidelines Advertising Info Register Now Video Tutorials Frequently Asked Questions
» Newsletter Signup
» Premium Tower
» Advertisements
» Trending News
» Tower Sponsors




















» Premium Sponsors
» Banner Sponsors
» Advertisements
Closed Thread
Thread Tools
  #1  
Old 02-03-2015, 05:48 PM
justanormalgirl justanormalgirl is offline
Senior Member
Join Date: Oct 2010
Posts: 166
Thanks: 0
Thanked 0 Times in 0 Posts
Default 2 part question.....what is a bond and what are the true costs?

I've been looking through the current Villages listings and I keep seeing 'bond paid' or 'bond'.....what exactly is that? Is it a one time thing? If I find a home I want that says 'bond paid' will I ever have another bond on that property?

I'm looking mainly on the historic side, for a nice double wide manufactured home or site built ranch. What are the true costs of owning a home in that area.....knowing that utilities will be different depending on who lives in the home.....are there other expenses besides utilities, insurance, taxes and the monthly Villages fee?
  #2  
Old 02-03-2015, 07:04 PM
graciegirl's Avatar
graciegirl graciegirl is online now
Sage
Join Date: Mar 2008
Posts: 39,431
Thanks: 4,206
Thanked 4,700 Times in 1,608 Posts
Send a message via AIM to graciegirl
Default

A bond is the price of the infrastructure of the area where you bought. The pipes and electrical, the streets and sewage. In other areas it is part of the price of the home. Here it is separate.

The developer collects the bond and you pay rather high interest on it. You can pay it off at any time or like many of us, pay it yearly thinking you may sell and move somewhere else in The Villages and that makes the price of your home seem lower.

http://www.talkofthevillages.com/for...e-bonds-94972/
__________________
It is better to laugh than to cry.

Last edited by graciegirl; 02-03-2015 at 07:42 PM.
  #3  
Old 02-03-2015, 07:06 PM
ureout ureout is offline
Veteran member
Join Date: Feb 2010
Posts: 664
Thanks: 3
Thanked 295 Times in 89 Posts
Default

Quote:
Originally Posted by justanormalgirl View Post
I've been looking through the current Villages listings and I keep seeing 'bond paid' or 'bond'.....what exactly is that? Is it a one time thing? If I find a home I want that says 'bond paid' will I ever have another bond on that property?

I'm looking mainly on the historic side, for a nice double wide manufactured home or site built ranch. What are the true costs of owning a home in that area.....knowing that utilities will be different depending on who lives in the home.....are there other expenses besides utilities, insurance, taxes and the monthly Villages fee?
The bond you talk about is what the developer adds on to the cost of a new home....it's for the supposed cost of the infrastructure in your particular district, it is divided by the number of homes in that district....the bond is only paid 1 time....as far as the historic side many of the properties are being bougt up by the developer and new homes are being built there
  #4  
Old 02-03-2015, 07:33 PM
Bogie Shooter Bogie Shooter is offline
Sage
Join Date: Sep 2008
Posts: 15,294
Thanks: 3
Thanked 1,974 Times in 914 Posts
Default

/////
__________________
The further a society drifts from truth the more it will hate those who speak it. George Orwell.
“Only truth and transparency can guarantee freedom”, John McCain

Last edited by Bogie Shooter; 02-03-2015 at 10:21 PM. Reason: Gracie corrected her post.
  #5  
Old 02-03-2015, 09:19 PM
Indy-Guy Indy-Guy is offline
Veteran member
Join Date: May 2007
Posts: 987
Thanks: 0
Thanked 55 Times in 23 Posts
Default

Quote:
Originally Posted by justanormalgirl View Post
I've been looking through the current Villages listings and I keep seeing 'bond paid' or 'bond'.....what exactly is that? Is it a one time thing? If I find a home I want that says 'bond paid' will I ever have another bond on that property?

I'm looking mainly on the historic side, for a nice double wide manufactured home or site built ranch. What are the true costs of owning a home in that area.....knowing that utilities will be different depending on who lives in the home.....are there other expenses besides utilities, insurance, taxes and the monthly Villages fee?
As far as I know there are no or never have been any bonds on the historical side of The Villages. So if that is the only area you are looking in the bond is not a factor in that area.
__________________
Anderson Indiana---Indianapolis Indiana--- Village of Poinciana Full Time
  #6  
Old 02-03-2015, 10:03 PM
sunnyatlast sunnyatlast is offline
Gold member
Join Date: Jul 2014
Location: The Villages, FL
Posts: 1,208
Thanks: 0
Thanked 0 Times in 0 Posts
Default

The bond amount (cost of water, sewer, curb, gutter, street drains, utility lines, etc.) is in the price of a lot in a development anywhere else, and then it's passed on within the price of the house when sold.

Nothing new about the concept of paying for that.
  #7  
Old 02-03-2015, 10:44 PM
justanormalgirl justanormalgirl is offline
Senior Member
Join Date: Oct 2010
Posts: 166
Thanks: 0
Thanked 0 Times in 0 Posts
Default

Thank you. We don't have 'bonds' here so I wasn't familiar with what they actually are.
  #8  
Old 02-03-2015, 11:18 PM
maybe maybe is offline
Senior Member
Join Date: Mar 2013
Location: The Villages
Posts: 289
Thanks: 0
Thanked 2 Times in 2 Posts
Default

The bond element is always important to consider, even if it is true that there are no bonds in the historical section. The reason is so that you can make a valid comparison of prices between houses with and without bonds. Consider the bond as a semi-hidden 2nd mortgage on the house. A house listed at 200k, but with a bond of 5k, actually costs 205k, and is thus more expensive than one listed at 202k but no bond.
  #9  
Old 02-04-2015, 03:41 AM
Bonanza's Avatar
Bonanza Bonanza is offline
Platinum member
Join Date: Oct 2013
Posts: 1,985
Thanks: 0
Thanked 5 Times in 4 Posts
Default

Quote:
Originally Posted by sunnyatlast View Post
The bond amount (cost of water, sewer, curb, gutter, street drains, utility lines, etc.) is in the price of a lot in a development anywhere else, and then it's passed on within the price of the house when sold.

Nothing new about the concept of paying for that.
The bond is not based on the price of a lot.
There are many lots that have no premium in which case there is no add-on for the price of the property.

The bond is based on the total price of the house, from what I understand.
__________________
A Promise Made is a Debt Unpaid
~~ Robert W. Service ~~
  #10  
Old 02-04-2015, 07:36 AM
tuccillo tuccillo is offline
Platinum member
Join Date: Mar 2014
Posts: 1,693
Thanks: 0
Thanked 107 Times in 58 Posts
Default

In the new sections, houses are grouped by "unit". A Village will be made up of several "units" and each "unit" will have hundreds of houses. I believe the bond is the same for all houses in a "unit" and the prices of the houses within a "unit" can vary significantly.


Quote:
Originally Posted by Bonanza View Post
The bond is not based on the price of a lot.
There are many lots that have no premium in which case there is no add-on for the price of the property.

The bond is based on the total price of the house, from what I understand.
  #11  
Old 02-04-2015, 08:09 AM
Bogie Shooter Bogie Shooter is offline
Sage
Join Date: Sep 2008
Posts: 15,294
Thanks: 3
Thanked 1,974 Times in 914 Posts
Default

Quote:
Originally Posted by Bonanza View Post
The bond is not based on the price of a lot.
There are many lots that have no premium in which case there is no add-on for the price of the property.

The bond is based on the total price of the house, from what I understand.
NO, price of the house has nothing to do with the bond!


From the District web site.
What is the Bond Debt Assessment for?

The bond debt assessment reflects each lots proportionate share of the cost of building the infrastructure within its District or for which its District has responsibility. It is the most equitable method of distributing costs between the properties that benefit from the infrastructure. Infrastructure includes storm water systems, underground pump stations, water retention areas, curbs, gutters, streetlights, transportation trails, underground piping, etc.

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

The Bond Debt Assessment was set at the time the bond used to build the infrastructure was issued. The formula for calculating each lots proportionate share starts with the total cost of the bond (including interest) issued to pay for the infrastructure. That cost is divided equally among each assessable acre in the phase of the District for which the bond was issued. That gives you a cost per acre. The cost per acre is then multiplied by the number of acres in the unit in 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. Amortization schedules for each unit are located on the Districts' website; Village Community Development Districts under the Finance Department link.
__________________
The further a society drifts from truth the more it will hate those who speak it. George Orwell.
“Only truth and transparency can guarantee freedom”, John McCain
  #12  
Old 02-04-2015, 08:11 AM
Bogie Shooter Bogie Shooter is offline
Sage
Join Date: Sep 2008
Posts: 15,294
Thanks: 3
Thanked 1,974 Times in 914 Posts
Default

Quote:
Originally Posted by Bonanza View Post
The bond is not based on the price of a lot.
There are many lots that have no premium in which case there is no add-on for the price of the property.

The bond is based on the total price of the house, from what I understand.
What is this premium? The fact that the lot may be on a golf course, a corner lot?
What is this add-on?
__________________
The further a society drifts from truth the more it will hate those who speak it. George Orwell.
“Only truth and transparency can guarantee freedom”, John McCain
  #13  
Old 02-04-2015, 09:09 AM
kstew43 kstew43 is offline
Gold member
Join Date: Jul 2011
Posts: 1,128
Thanks: 182
Thanked 57 Times in 21 Posts
Default

the bond is the same for every home in the particular unit, neighborhood....

if you have a 500k house on the golf course or a 150k interior house, large lot, golf cart lot, 3 car garage, ect.....non of that matters.

every home in that unit pays the exact same bond amount and maintence fees....
  #14  
Old 02-04-2015, 09:15 AM
graciegirl's Avatar
graciegirl graciegirl is online now
Sage
Join Date: Mar 2008
Posts: 39,431
Thanks: 4,206
Thanked 4,700 Times in 1,608 Posts
Send a message via AIM to graciegirl
Default

This is close but may not be precisely accurate.

The price of the bond on new homes is;

Premiers 50K
Designers 24K
Cottages and villa's 14K

And the explanation above that Bogie Shooter gave is correct.

Bogie Shooter is ALWAYS correct.

AND so is KStew when he said that every home in the unit pays the same.
__________________
It is better to laugh than to cry.
  #15  
Old 02-04-2015, 09:30 AM
Bogie Shooter Bogie Shooter is offline
Sage
Join Date: Sep 2008
Posts: 15,294
Thanks: 3
Thanked 1,974 Times in 914 Posts
Default

Quote:
Originally Posted by graciegirl View Post
This is close but may not be precisely accurate.

The price of the bond on new homes is;

Premiers 50K
Designers 24K
Cottages and villa's 14K

And the explanation above that Bogie Shooter gave is correct.

Bogie Shooter is ALWAYS correct.

AND so is KStew when he said that every home in the unit pays the same.
Your bond amounts are just estimates. It depends on what district the house is located.
__________________
The further a society drifts from truth the more it will hate those who speak it. George Orwell.
“Only truth and transparency can guarantee freedom”, John McCain
Closed Thread

Thread Tools

You are viewing a new design of the TOTV site. Click here to revert to the old version.

All times are GMT -5. The time now is 04:33 AM.