[samhass]

Indy, I think you nailed it on this one. I paid my bond off in Mallory and sincerely doubt I'll recoup it on the sale. Ain't hindsight grand??

Originally Posted by Indy Guy

Here is a link to a previous post about paying off your bond.

https://www.talkofthevillages.com/sm...ic,1702.0.html

I play golf with two guys who were advised by their Villages realty rep not to pay their bond off for at least two years so they will know that this is the house they want to





spend many years in. Both of them have purchased a new home in The Villages and sold their original Villages home. Both feel that they would not have recouped their bond if they had paid the bond off. One downsized and one went to a larger home. You never know if you purchased the right size home until you spend some time in it.

I will pay mine off next year after I am sure that I don't want to move to another house in The Villages as this is the only place I want to live.

Your interest quotes are correct if you live in your home for 30 years without paying your bond off. Remember you have the oppurtunity to pay your bond off one time each year. I for one hope I live in my home for 30 years. Let see I will be 93! Where do I sign up for that!

[tucson]

Why aren't there Bonds In Lake Co. section of TV???

[JohnN]

tucson, same reason there aren't bonds in most of the country,

I see it as a ploy that instead of building it into the home price, they add it on as an "ala carte" but mandatory item. I think I read about 1/2 the counties in Florida now do this since it's a growing state and stress was being put on the infrastructure.

[Russ_Boston]

Very possible John. The initial price is the lure and once you have your heart set on a property it's tough to tell the spouse that you can't get it because of the 'total' price.

But since all of us TOTVers know the real deal we can talk about the bond upfront in any discussions about total price of the property.

[tekcormn]

are there any places in the villages that have no BONDS to pay ?

[champion6]

Originally Posted by tekcormn

are there any places in the villages that have no BONDS to pay ?

Yes, all houses in Lake County do not have a bond. Some resales in Marion and Sumter Counties might not have a bond because the homeowner paid it off.

[buggyone]

As you all know, the interest portion of your bond payment IS NOT tax deductible if you itemize your Federal Income Tax.

A lot of people have taken out a Home Equity Loan and paid off their bond with that money. The interest on a Home Equity Loan is less than on the bond and IS tax deductible.

Naturally, check with a tax advisor.

[OBXNana]

We settled in March 2014. As you get all excited about the dream of owning in The Villages, some things become a blur. Our sales person did say there was an annual maintenance fee and, quite honestly, went in one ear and out the other. When is this due and how is it determined? Is it like the bond and it's a sliding scale or are all the fees the same? Is this 100's or 1,000's of dollars each year? Broad question, but the reality hit when I read the sample the original poster shared. Thank you for sharing.

[dewilson58]

Originally Posted by OBXNana

We settled in March 2014. As you get all excited about the dream of owning in The Villages, some things become a blur. Our sales person did say there was an annual maintenance fee and, quite honestly, went in one ear and out the other. When is this due and how is it determined? Is it like the bond and it's a sliding scale or are all the fees the same? Is this 100's or 1,000's of dollars each year? Broad question, but the reality hit when I read the sample the original poster shared. Thank you for sharing.

Sounds like he/she was talking about the annual bond payment.
Here is a link to determine you bond and related annual payment.
Village Community Development Districts

[Bonanza]

Originally Posted by mcelheny

No-Most other housing developments in Florida don't charge a bond on top of Sale Price,Taxes and Amenity fee.

Having been in real estate over 30 years,
I will tell you that this is the first development I've ever heard of that charges a bond.

In my mind, the developers cost for infrastructure is simply the cost of doing business.
Most developers will add various fees into the sales price so that buyers don't get P.O.'d.

[OBXNana]

Originally Posted by dewilson58

Sounds like he/she was talking about the annual bond payment.
Here is a link to determine you bond and related annual payment.
Village Community Development Districts

The OP example showed an annual maintenance assessment is due even if the bond is paid in full. We paid the bond at settlement. When I read this thread it jarred my memory and wish I had paid closer attention to the sales person.

I will check the Village Community Development District site again and may have missed the information. Thanks!

[OBXNana]

Originally Posted by Bonanza

Having been in real estate over 30 years,
I will tell you that this is the first development I've ever heard of that charges a bond.

In my mind, the developers cost for infrastructure is simply the cost of doing business.
Most developers will add various fees into the sales price so that buyers don't get P.O.'d.

Normally with new construction the infrastructure is included in the price of the house. The developer doesn't eat the expense, they simply work it into the sale price.

I have no idea why it's done this way in The Villages, but we were fortunate to have a sales person that fully explained all the numbers.

[mickey100]

There is an annual maintenance assessment that is paid in addition to any bond payments. I'm not sure how it is computed. Ours runs around $500 a year.

[OBXNana]

Originally Posted by mickey100

There is an annual maintenance assessment that is paid in addition to any bond payments. I'm not sure how it is computed. Ours runs around $500 a year.

Thank you! I had concerns it mights be $1,000.00's that we had not budgeted for. Never in my wildest dreams did I ever think I'd be happy about spending another $500.00, but at this point, it is far better than I was imagining for the last couple hours.

[mickey100]

You're welcome!…enjoy….