[Bettiboop]

We are considering buying a lot now and building later. If buying just a lot, are you then required to build within a certain time frame?

If we decide on a location and/or lot on our next visit we liked to go ahead and secure the lot.

TIA!

[downeaster]

Originally Posted by Bettiboop

We are considering buying a lot now and building later. If buying just a lot, are you then required to build within a certain time frame?

If we decide on a location and/or lot on our next visit we liked to go ahead and secure the lot.

TIA!

As far as I know, it is a package deal. It has been years since one could buy a lot and build later.

Having said that, I would advise calling the Sales Department and get the real answer.

[Bettiboop]

Originally Posted by downeaster

As far as I know, it is a package deal. It has been years since one could buy a lot and build later.

Having said that, I would advise calling the Sales Department and get the real answer.

Thanks, I'll have to give them a call. Somewhere along the line I got the impression some were buying just the lot, but I probably misunderstood.

UPDATE: I think I just found my answer on another thread. Bought in Pennecamp

[ssmith]

I could be wrong but last year we were told we could just buy the lot this year. I believe we had to start building on it within the year. Things may have changed and I could be totally wrong as we could not do that since we both have jobs up north. Susie

[mdfrog]

We bought a lot last January and had 6 months to start building. We were waiting until we sold our house to start. Unfortunately we could not build by the deadline. We were able to extend the time by 6 months if we gave The Villages $7500. When you do buy a lot the monies are nonrefundable, but as long as you buy a NEW home you do not lose your deposit. We have since sold our home and will settle December 14th. If you find a lot you love and are sure you want to be in The Villages you can not go wrong.

[katezbox]

Betty,

We were in the same situation as Tadpole (incidentally the name of my cat), but my neighbor us the street has a sister who just bought a lot in Pennecamp. She was told by her sales rep that you can now only hold interior lots... Again, this changes with the market, so I think confirming is a good choice...

[Bettiboop]

Appreciate everyones' responses. I'll contact them and see what kind of a deal they are offering at the present time.

We've been number crunching this past week, and there are lots of ways that we COULD go that are tempting and would get us there quickly...but alas we must be grownup and make smart decisions.

[sschuler1]

Betty- You will want to make sure that the lot you choose will be able to hold the house that you want to eventually build. We bought a lot in Bonita and later found out that the lot was too small for the house that we were building. So we had to transfer to another lot in Hemingway. That was not a problem for us, but might be for you if you are buying a lot now because you want to be in a certain area. Make sure the lot will hold what you are also planning on building as far as birdcage, pool, etc. Your sales person will take the layout of the lot you choose and a cutout of the house you are planning to build, and put the one on top of the other to make sure everything will fit on that lot. If you haven't decided on what kind of house you want to build, you might have a difficult time picking out a lot. Just something for you to think about...

[Bettiboop]

Originally Posted by sschuler1

Betty- You will want to make sure that the lot you choose will be able to hold the house that you want to eventually build. We bought a lot in Bonita and later found out that the lot was too small for the house that we were building. So we had to transfer to another lot in Hemingway. That was not a problem for us, but might be for you if you are buying a lot now because you want to be in a certain area. Make sure the lot will hold what you are also planning on building as far as birdcage, pool, etc. Your sales person will take the layout of the lot you choose and a cutout of the house you are planning to build, and put the one on top of the other to make sure everything will fit on that lot. If you haven't decided on what kind of house you want to build, you might have a difficult time picking out a lot. Just something for you to think about...

Excellent point! Thanks!

[Chopper]

We went have through the lot selection process a couple of months ago. The salesman helped us find a lot that would accommodate the house that we are considering. We made a deposit of $2,500 which "reserves the lot" for two months. You can make additional deposits up to a total of $15,000 to hold the lot for a total of twelve months. You do not own the lot, you only reserve the lot. If you do not begin construction within the one year period, the lot goes back on the market. Also, you can select a different lot at any time. You never loose any of your deposit as long as you eventually build a house or purchase one that is already constructed. Better make sure that you know you will be moving to the Villages at some future date. If not, I guess the money goes into the Morse family retirement account.

The only thing that is holding us up now is the sale of out house in Alabama.

[swrinfla]

A thought when looking at a lot: be sure you research what building is/will be going on, etc. When I selected my lot just over 5 years ago, there was really a half-way decent view from it, but subsequent building (which I knew was in the works) blocked 99.9% of the view. Still, I couldn't be happier, because I don't peer into somone else's lanai or living room or bedroom! I'm just slightly worried that the occasional occupant-owners of the house immediately behind me will actually build the pool they once told me they were going to do, then I'll have to watch them swimming :-(.

SWR