Originally Posted by terenceanne (Post 2107971)

Nobody has mentioned piece of mind - which apparently has no value. We have no mortgage and no bond. Does it add value to you house - of course it does. Anyone buying a house will favor a house with no bond all other things being equal.

Originally Posted by ahill99 (Post 2107983)

Does anyone know if the if the interest expense on the bond payment is tax deductible? My guess is that it is not.

Originally Posted by bsloan1960 (Post 2107389)

New owner/first time- closing at the end of June.

(using approx. numbers) $20,000 bond paid over 30 years @$1100 per month = $33,000... Ouch!

I assume this is why some people choose to pay the bond off in cash. I called the Development District and there is no creative way to reduce the interest payments- it's either pay it off in full or pay it monthly.

With this in mind what is the best way to pay this bond?

Thanks,
Bill

Originally Posted by bsloan1960 (Post 2107389)

New owner/first time- closing at the end of June.

(using approx. numbers) $20,000 bond paid over 30 years @$1100 per month = $33,000... Ouch!

I assume this is why some people choose to pay the bond off in cash. I called the Development District and there is no creative way to reduce the interest payments- it's either pay it off in full or pay it monthly.

With this in mind what is the best way to pay this bond?

Thanks,
Bill

Originally Posted by OrangeBlossomBaby (Post 2108076)

Most Villagers don't live in the same Villages property for 30 years. If you only live there 10 years, you will have paid in only 10 years worth of bond, and the new owners will be on the hook for the rest.

Originally Posted by Glowfromminnesota (Post 2107948)

From a buyers perspective, we specifically were only looking at homes with no bond or low bond when we purchased ours in September.

Originally Posted by Bogie Shooter (Post 2107513)

Easily checked so you will not be surprised……….
Go look at District 6….2.46%

Originally Posted by EdFNJ (Post 2109777)

Huh? I'm looking at my district 6 lot and it says 4.25%, the lot next to me is 5.25% (according to the web site listing) Been going through them all 1 at a time and (so far) they vary between 2.46 and 5.25. Seems all the Villa listings are 2.46 as well as a few non-Villas.

What am I missing? I thought they all are supposed to be the same.

Originally Posted by OrangeBlossomBaby (Post 2108076)

Most Villagers don't live in the same Villages property for 30 years. If you only live there 10 years, you will have paid in only 10 years worth of bond, and the new owners will be on the hook for the rest.

Originally Posted by Love2Swim (Post 2109824)

Depending on the interest rate, you need to look at your break even point. When we bought, ours was 7 years. I was glad we paid it off and saved all that interest. As it turns out we didn't move, but had we after 7 years we would have broken even financially, and, could put the house on the market advertising it as "NO BOND", which is a positive for those who look at total costs when purchasing.

Originally Posted by Bogie Shooter (Post 2109792)

Have no idea what you are missing just posted what my rate is in unit 105….non villa.

Go call the finance department to get the right answer…."……………..

Originally Posted by bsloan1960 (Post 2107389)

New owner/first time- closing at the end of June.

(using approx. numbers) $20,000 bond paid over 30 years @$1100 per month = $33,000... Ouch!

I assume this is why some people choose to pay the bond off in cash. I called the Development District and there is no creative way to reduce the interest payments- it's either pay it off in full or pay it monthly.



With this in mind what is the best way to pay this bond?

Thanks,
Bill

Originally Posted by John Mayes (Post 2109884)

You sure your math is correct? $1,100 per month?