[Topspinmo]

Originally Posted by WiscoDogsDad

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!

Look on dads tax bill, it’s maintenance fee for up keep in your district for unforeseen expenses. Usually couple hundred dollars. Not much but still hidden fee. Can very from district to district for what I seen. I think in Sumter county some district fee when down last year? I just know mine went up due to unforeseen problems that popped up.

Also depending on what type house you buy I think your estimating cost are high, but I don’t have mortgage.

[WiscoDogsDad]

Originally Posted by Topspinmo

Look on dads tax bill, it’s maintenance fee for up keep in your district for unforeseen expenses. Usually couple hundred dollars. Not much but still hidden fee. Can very from district to district for what I seen. I think in Sumter county some district fee when down last year? I just know mine went up due to unforeseen problems that popped up.

Also depending on what type house you buy I think your estimating cost are high, but I don’t have mortgage.

Topspin,

Thanks very much. I THINK that we have parsed his annual tax costs into monthly bites, but will ensure that this issue is clear, covered, and NOT in my blindspot.

I'm estimating HIGH, to the best of my abilities, across the board. The mortgage will be ZERO before I stop working....two to four years after arriving.

I really appreciate the follow up.

[Bill14564]

Bond: Will vary depending on where you buy. Pre-owned home built around 2014 will be around $100/month. New home will be significantly higher - $300 in CDD15. See Bond Amortization Schedules for information on the area you intend to purchase in.

Real Estate Tax (including School Tax and Maintenance but excluding Bond): Mine is about $333/month in unincorporated Sumter County. Marion County, Lake County, or one of the incorporated areas will be higher.

Florida Homestead Exemption information. Available to all full-time residents. This is saving me over $1,000/year

[vintageogauge]

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.

You should also have your HVAC and heater serviced every 6 months, if you have a water filter or water softener you will need supplies for those also.

[LeRoySmith]

Originally Posted by villagetinker

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

I wanna be like you when I grow up (if I grow up)

[asianthree]

You haven’t posted if you are look at preowned or new, or model of house. I keep full stats on 2/2 PV 1164sf 3/2 Cottage 1534sf, Designer 2000sf, and Premier 2900sf.

Items only related to home expenses.

PV new bond $18,000 Yearly cost $12,36.00 Not Homestead, so taxes are higher
Cottage new bond $24,000 Yearly cost $15,96.00 Not Homestead, so taxes are higher
Designer preowned balance bond $15,000 Items are listed that we repaired on 14yo

Taxes and bond $ 5,687.00 Not Homestead
Roof $24,650.00
Sprinkler repla $ 865.00 New control box and 24 heads repair 4 leaks
Interior paint $ 2,850.00
Exterior paint $ 3,500.00
Appliance $ 2,350.00 They all died eventually
Expan tank $ 144.00 Hot water tank not replaced, just repaired
HVAC $ 5,500.00
Insurance $ 1,650.00
Electric $ 1,446.32 No gas available
Lawn mow $ 1,200.00
WiFi + Utube $ 160.00

Our Premier has a $50,000 bond that we will not pay off due to really low interest. Taxes rated for empty lot, so no help there. We mow our lawn cause it’s tiny.
electric, with pool and gas bill is less than our designer.
Insurance $650.00.

So our 2022 home yearly cost is definitely less, than the 2009 preowned designer. My guess is better HVAC, insulation, less irrigation, better rate on HO insurance. Preowned if you are handy would be less dollar upkeep. But not worth it for us just to have lower bond.

[jasamy2]

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.

You covered it all. Great post.

[Sully2023]

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

What about streaming services, Prime, Netflex or peacock, Max?

How about an umbrella insurance policy?

How about costs to fix your sprinkler system?

Annual service plan for HVAC?

Weed pulling in your landscape?

Virus protection for your home computer?

House upgrades?

Fixing appliances, damage to the home?

House trash?

[Veracity]

If you buy a house that is located both within The Villages and a city (such as Lady Lake, Wildwood, Leesburg, etc.), you will have to pay taxes levied by that municipality.

[Lynnesail]

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.

I don’t think I saw golf cart insurance on your list..

[RoseyRed]

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.

[ThirdOfFive]

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.

Not exactly "blindsided, and not much to add to the other excellent responses in this thread, but a few things to be aware of.

I'm assuming you'll be house-shopping in TV in the coming months. Things to watch out for:

1. How old is the roof? If 10 years old or older, you might have a hard time getting homeowner's insurance.

2. Ditto on the hot water heater. Insurance companies are very aware of the repair costs when one of those goes kaflooie. We changed homeowner's insurance about a year after we moved here: our roof was new, so not a problem, but the hot water heater, though working perfectly, was 15 years old. The insurance company wrote the insurance but gave us "x" number of days to get the water heater replaced.

3. Make sure the house you buy doesn't have any violations of community standards. There are stories of people who have purchased a house only to find one or more violations of those standards that they were, as the new owners, liable to fix. Can be things you don't think of, such as "artwork" on a garage door not in line with standards, mold on the house, a hedge that is too high, things like that. Don't depend on the realtor to tell you! Do your research and detective work beforehand.

4. How old is the house you're planning on buying? If built before a certain time (2003?) some of them might not be insurable with the company you select.

5. I'd talk to people in the neighborhood that you plan on buying in. Those informal chats at the neighborhood mail station can tell you a lot, not just about the house but the neighborhood in general.

Good luck.

[Romad]

Originally Posted by LuvtheVillages

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.

Air conditioning is too low. Needs to be around $100 a month to account for servicing and system replacement.
Roof replacement should be around $80 a month.
Internet is closer to $75-85 these days.
TV could be ok, but may need to be increased for streaming services.
I would add another $10 a month for termite protection.

[bragones]

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

The only thing I can add that others have not already pointed out is that Gas should be around $40/month if your appliances are gas and if you factor in winter heating. Also, my taxes are higher and that is in lower tax Sumter with a homestead exemption ($400/month).

[mrf6969]

Originally Posted by WiscoDogsDad

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.

Great plan to work up until you are totally debt free, we did the same thing. Moved here in our 50's and I found a job paying almost what I was making up north. This allowed us to make some major home improvements with a large addition and pay cash all furnishings. Paid cash for new golf carts and a car. If you can get rid of that mortgage before you retire and it's a huge plus. With all that behind you, you are now ready to live a debt free retirement.
This will give you the freedom to do most anything you want to with travel and beyond. Best Wishes!