[l2ridehd]

Thought you might be interested:

What does a bond on a home in The Villages actually cost you?

There is a written pay off chart and for a $30,000 bond
by the time it is paid off you will have paid $74,050.412

You will have paid interest of $39,732.39 and admin fees of
$4,443.02

At the end of ten years you will have only paid off $1,401.74

Depending on the bond cost it could double your yearly
tax bill which in turn raises your monthly loan payment.

You really need to add the cost of the bond on to any home
you are considering buying.

And new homes have a significantly higher bond than resale homes. Usually up to 2.5 times that of a house that is 3 years old.

[TallerTrees]

;D Aren't you the fella that is trying to sell a home in TV? You should include this info in your listing. Where can anyone find this information to verify? Thanks.

[Peachie]

Taller, you can google "amortization calculator" or "amortization schedule", choose a site and then input the numbers you would like calculated.

[TallerTrees]

Great, found it. Thank you.

[graciegirl]

The bond is not that high on most new houses. You won't have interest if you pay it off. It is a necessary evil, like taxes, if you want the goodies.

[Peachie]

You are exactly right, Graciegirl. Any developer or construction firm would probably advise us that the most valuable or costly item in a complex is the infrastructure, not the structures. Perhaps Mr. Morse would have been wiser to add this cost to the home prices, without a special "bond", as do most other developers. A developer or construction firm would not be in business long if that cost was not included in sale prices.

[l2ridehd]

Don't disagree that it is needed for the streets, sidewalks, drains etc, but it should be used to compare home for home. Always consider how much the bond is. I can show you several new homes where the bond is $30K. It is because the cost of building the infrustructure is going up every year. I got the list by property from a Real Estate Agent. She had it for every resale home in The Villages. The new home bonds have to come from a VLS agent. Just ask the amount of the bond and add it to your cost when you compare homes. To many buyers neglect to do that. Just trying to help make buyers more knowledgable about what they are buying.

[784caroline]

Tallertrees
Using your Lot and Unit Number call Carol Thompson at 352-751-3905. She can answer any and all questions regarding your bond and even provide you (or who has a bond balance), the 30 year payment schedule of interest /principal by year.

For example, my $18,140 bond will cost me over 30 years $42,174. This includes $18140 Principal, $21503 interest, and $2503 administrative expenses.

Its an eye opener

[Muncle]

I hate to repeat the obvious, but the bond and it's future cost is no big deal. If there were no bonds, the costs would be included in the cost of the house. You buy a $225,000 house with a $25,000 bond, the cost of the house is $250,000. It is not $225,000. If you want to keep it simple, roll the cost of the bond into your mortgage and pay the thing off up front. -- yeah, there are PMI considerations, depending on your downpayment and mortgage.

And if looking at resales, remember that if one $200K house has no bond and it's identical to another $200K house with a $10K bond, the second one is overpriced by that $10,000.