[tvbound]

Originally Posted by RoadToad

If you are ready to occupy the new home, you should buy and move in.
You would "profit" by not wasting rent output of thousands (assuming you are renting as posh as you imply you were living) per month.

Regardless of when we purchase, we won't be moving to TV until fall as the summer is great up here. We did rent during the month of August one of the times, so as to get an idea of whether we could even handle the heat and humidity.

As to your belief that rent is wasted, not only are we in a much more modest house than we sold right now, I also don't have to worry about any of the maintenance, taxes, upkeep, Etc.

There are a number of books that have analyzed the difference between owning and renting for the last 30 years or so and was surprised as to how important it was as to when you purchased, when you sold and capital investments needed on the home, as to whether renting was always a money losing proposition over owning.

[jerseyjoy]

I won’t speculate, but I can tell you that we sold a 3/2 designer with pool in January, in one day, for 45k more than we paid two years prior. This week I have seen two 3/2 designer pool homes for sale, in the same vicinity (south of 466A)….one for 532k and one for 492k, both are less than we paid in 2018.

[tvbound]

Originally Posted by Travelhunter

Suggest you buy in the newer areas and purchase a new home
A new home lets you design it and pick out all the fixtures
The increase in prices in Fenney, both new and resale have increased in value beyond expectations and the same is true in the other areas being built
Everything is new including your neighbors

As mentioned earlier, we're buying the lifestyle not a house and a resale of whatever we end up choosing will not happen.

Not meant to offend anyone, but the new houses way down by the freeway are just too far away from what we feel is the heart of The Villages.

[merrymini]

Just like playing the market, who can say for sure? I think the housing market will take a hit. People have had a serious hit in the stock market and would not be feeling as flush and may have trouble selling their present home. Your finances will dictate. Being here is wonderful, no doubt, especially when activities are open!

[Stu from NYC]

It all depends upon the virus and its effects on the economy. No way to tell at this point.

Ask 12 economists and will probably get 13 answers.

[Villagesgal]

Speak with your financial people regarding rent vs own, then go with what's best for your financial situation. You brought up the point of not having to worry about maintenence issues, that's certainly part of the equation and will be a consideration for you. The lifestyle here is amazing. Don't put off your decision too long. Tomorrow is promised to no one. Enjoy life while you can, especially since as you keep implying, money is no object for you.

[La lamy]

Originally Posted by retiredguy123

I would just point out that the entire U.S. economy is collapsing. The Government has already spent $3 trillion to try to hold it together. Why wouldn't house prices in The Villages decline? Buying a house in this economy is risky.

As someone mentioned earlier, the demographic of house buyers in TV is older, mostly retired people who don't rely on work income. Even with stocks down a lot of us have our home paid off and can pay cash moving from one house to another.

[VApeople]

Originally Posted by tvbound

Not meant to offend anyone, but the new houses way down by the freeway are just too far away from what we feel is the heart of The Villages.

No one will be offended by your statement.

It is the same as someone saying they would not buy a house north of 466 because it would be too far from the beautiful walking and biking trails south of 44.

I think most of us think the "heart of The Villages" is right where we live.

[kendi]

Originally Posted by tvbound

Recognizing that no one can accurately predict the future, we're still interested in the opinion's of those that have been here a while to see if it would be better to purchase say by the end of June or wait until around November to see what this nasty virus does to the home-buying in The Villages.

After renting a couple of times now (up by Glenview and Sabel Chase area), we'll be looking primarily north of 466A (even though we know the bridges will go in soon) so was curious as to the price and demand in the older sections versus the new homes on the other side of the freeway.

All guesses appreciated.

The opinion of our Villages realtor is that once the bridges open the prices of the homes North of the bridges will drop.

[rustyp]

Originally Posted by jerseyjoy

I won’t speculate, but I can tell you that we sold a 3/2 designer with pool in January, in one day, for 45k more than we paid two years prior. This week I have seen two 3/2 designer pool homes for sale, in the same vicinity (south of 466A)….one for 532k and one for 492k, both are less than we paid in 2018.

I would like to use this as an example of what I call the illusion of making money on real estate. Per the post they sold the house for $45K more than they paid two years prior. Also there is a hint of the sale was over $532K. Let's assume it sold for $600K. The sales commision at 6% would be $36K. Well that leaves $9K for profit. In two years they owned the house it would be very likely they put money into it, landscape, curtains, electrical fixtures, etc.Plus there was closing cost and if a mortgage two years of interest. Thus there was no money made.

[PennBF]

Every business has a goal to improve "incremental revenue" each year. That is revenue that was not booked the prior year, (e.g. new business or improvements on old, etc).Reducing costs will not bring in incremental revenue but it will improve profit. So, the
question is what will the Villages do long term, e.g. 5 year plan, etc. Example: I just saw a note in the news that there will be a meeting to discuss "trash collection". That is a flag there may be either increase costs which would be new revenue and good for the Trash Company and bad for the residents or altering the methods of collections (fewer) which would most likely alter the contract with the Trash Co. to benefit the Village Mgt. but add costs to the residents. Does anyone think it is for the benefit of the residents? Now take this action and expand it to Landscaping, maintenance, infrastructures, etc and that should provide some idea of the directions of The Villages. Results: More costs..Less Services.. When you bought here you should have considered this as what will be the future? One of the things that is kinda new to the typical Business Model's is the way the Villages were able to influence the Florida Government to develop laws most favorable to their business, such as being able to pack various
Community development Groups, having Statues that are most favorable to the Developer. WE LOVE THE VILLAGES AND PLAN TO BE FROGS HERE BUT DON'T KID OURSELVES REGARDING THE DIRECTIONS IT WILL GO.

[justjim]

Originally Posted by kendi

The opinion of our Villages realtor is that once the bridges open the prices of the homes North of the bridges will drop.

I love a Realtor with a crystal ball! Sure, I would go with that Realtor, not.

[charlieo1126@gmail.com]

Amen

[EnglishJW]

Originally Posted by villagetinker

Some articles I saw recently indicated prices were holding steady (nationally), which I cannot believe. I think there was an article recently that we were doing better. I am waiting for the next shoe to drop, the high (very high) unemployment and the associated secondary effects. There have been several articles indicting we are in (or will be very shortly) a recession.
So here is what I think, if you are buying for profit you should probably wait to see what happens, if you are buying for enjoyment, life is too short, go for it.

What we've been told from friends in the business, is prices have remained firm but the actual number of sales is down significantly. This is anecdotal, not a study.

[tedquick]

Dear tvbound,

I sold real estate for 41 years, which only means that I sold real estate for 41 years but here are my thoughts: as villagetinker suggested, if you are buying for investment you might wait, but if you are buying for convenience, comfort, the home-of-your dreams, or whatever, then buy when you find the home that trips your trigger the most. (That’s what we did) We bought a floor plan that we loved (our number one consideration because of potential family visits) based on “location, location, location” (near where we knew we would spend most of our time). So we bought based on floor plan and future activities and then completely redid the home to our own personal tastes. We couldn’t be happier.

Oh, and one additional thought: you’ll need two Realtors in order to see all that is available, one from The Villages and then an independent broker. Make sure you are comfortable and trust the two with whom you choose to work. It is more important that you trust your Realtors than it is to like them, but best if you have both trust and like.

Best of luck. A good Realtor will make it fun.