[tkret]

OK, I may have created a monster. My neighbor viewed the video from the sales office of TV and became very interested but did not think she could afford it. A few weeks ago she requested that I ask TOTV about "Water Oak" and I received some info and she decided to visit. While visiting Water Oak she stopped by The Villages and ... well, you folks know what happened!

Anyway, she would like your advice. She has Social Security and a small pension and both total about $2000/month. She can purchase a home in TV for cash and, thus, no mortgage. After her moving expenses and the purchase, for cash, of her home, she will have savings remaining of about 50k but does not want to touch it for monthly expenditures; it is truly an emergency fund as far as she is concerned.

Now, this is her question: Can she afford to live in TV on $2000/month as a single lady with no mortgage and no savings (remember: she wants to leave her savings untouched).

She's looking over my shoulder as I type this so the sooner you kind folks can give her your opinion, one way or the other, the sooner I can get back to the Jets-Dolphins game.
She's a sweet lady who would be an asset to the community (I had to put that in) ;D

[chelsea24]

Is she going to pay the bond? What type of insurances will she have? Homeowners, auto, health. Also, property taxes are less than Illinois but not cheap. I think we would need some more info. It could be tight. But at least she has savings to fall back on.

[ConeyIsBabe]

I'm lame when it comes to financial matters but I did a rough draft of what my TV expenses would be to live in TV, under the circumstances you describe for your friend: no mtg and just counting ALL the service, amenity, maintenance, insurance, prop. tax expenses involved and as I recall it was under $1,000 monthly, for everything I could imagine including handyman chores I'm unable to do.

Now comes the personal budget....... she should list all her personal expenses like food, eating out, medical, dental, clothes, haircuts, travel, gifts, CAR expenses, etc. etc. etc. then see what's left over, hopefully there will be some $$$ left over for emergency each month.

[Barefoot]

If she lives in a modest patio villa with bond paid and she is homesteaded, her taxes should be modest, as well as her insurance. (Although houses in Historical can be purchased for less money than a patio villa, I think maintenance and insurance would cost more.)

Assuming she has $2,000 per month after taxes, I think she can live in TV and will have no problem paying fixed expenses, monthly amenity fee, utilities, food, etc. Many people in TV choose to eat out often, however that is a controllable expense.

[villages07]

Barefoot is correct... some of her monthly expenses are directly related to the size and value of the home she were to purchase. Living expenses for a 2,000 sq ft Designer are more than an 1,100 sq ft Patio Villa. Property taxes, insurance, utilities, to name a few. So, lacking further details, if she lives a moderate lifestyle in a modest house, with no mortgage, she should be able to afford TV on 2,000/month (and still have some left over for unexpected expenses). Of course, if she ever had to tap into her house equity, she would be eligible for a reverse mortgage.

[tkret]

Eileen claims that she want a low-maintenance home like Patio Villa resale not new. So she will have either no-bond or lower-bond (I had her read the postings explaining the bond). Her automobile is old and she will have only the minimum mandatory insurance on that; she has Medicare Insurance plus the extra on her retiree plan from work; and home insurance as necessary. Normal monthly household costs such as g&e, water, trash, etc. telephone but not internet or cable.

Unlike myself, Eileen is not a traveler so cruises and trips would not be an issue. She likes the idea of the rec centers for cards and games and, of course, the Town Squares to watch the dancers.

I suggested the Historic Side with the manufactured homes but she believes that there would be too much landscaping responsibilities for her liking. She also feels that there is more likelihood of needed repairs (grey pipes and such) than with a Patio Villa. She realizes that a Manufactured home would permit her to keep more of her savings because of the lower asking/selling price but it's not her thing.

After this posting, she has agreed to join TOTV and ask advice on her own but will continue to visit my home to use the internet. She claims she doesn't want or need the internet and won't use it in TV (yeah, sure!). Thanks again.

[tkret]

Hello Everyone....I AM EILEEN and I sincerely thank you for helping me make this decision. I think Gene has had it with my questions and getting him to go on this Talk site to find answers for me. He is a good neighbor, though... ha, ha. I became a widow a few, short years ago and I sometimes find it difficult to make important financial decisions on my own. I had never even heard of The Villages until Gene mentioned that he may be moving to Florida in a few months and one question led to another and then the video and so on.

I will select my own sign on name and profile and will do this stuff myself for all future questions. I am thankful for your helpful advice. I must sign up for the visitors plan that The Villages offer. Too bad that the price is the same for a single as for a couple. But I'll do it in order to really get a feel for it and to see the homes.

[graciegirl]

I am pushing Tkret out of the way and talking to Eileen.

Sugar, You need to think again about the manufactured homes. I have seen some lovely ones and the cost to have your grass cut is about 50 dollars a month. I just am so frugal, it is better to hold on to as much cash as you can. Hang out at one of the pools near this beautiful area and talk to the people.

Also. You need to get a computer, so you can talk about Tkret behind his back on TOTV.

It is so wonderful in The Villages, there is a place for YOU. I think you can manage on your budget if you don't throw it away. There are plenty of things to do that are not expensive. Just find you a nice place with the bond paid.

[chelsea24]

From what you've told Eileen, we know you can do it! Tons of stuff to do here for free! It's a wonderful community filled with wonderful people. You will fit right in. :bigthumbsup:

[Rozzie]

Originally Posted by graciegirl

I am pushing Tkret out of the way and talking to Eileen.

Sugar, You need to think again about the manufactured homes. I have seen some lovely ones and the cost to have your grass cut is about 50 dollars a month. I just am so frugal, it is better to hold on to as much cash as you can. Hang out at one of the pools near this beautiful area and talk to the people.

I agree! :bigthumbsup:

Eileen, don't let the word "manufactured" scare you away from the older section. You will be stunned to see some of them. I would have no problem whatsoever purchasing one for a primary residence, I think they are so charming. A lot of them have been well cared for and have all new plumbing, roofs, etc. I think you can afford one comfortably, and that way you are not cutting it so close each month. If you are like me, nothing is worse than cutting it close in a budget. If you get something a little less, you will have more to enjoy your surroundings and activities--and the unexpected that always seems to come up.

My mom, a widow also, just moved to Hadley and she loves it. I wish the best of luck to you!

[chuckinca]

My mother lived in the historic section in a 1100 SF manufactured home that was paid off and had no problem on her $1500/mo gross income and usually saved a couple hundred dollars each month. However, her medical was covered by UAW pension funds.

[9eileen9]

Originally Posted by chuckinca

My mother lived in the historic section in a 1100 SF manufactured home that was paid off and had no problem on her $1500/mo gross income and actually saved a couple hundred dollars each month. However, her medical was covered by UAW pension funds.

thank you for this information. I mentioned it on my other post before I realized that I should have replied on this post. I have pretty good medical coverage through my retiree plan and Medicare as well.

And when I visit again (don't know when but I hope sooner than later) I will take a look at the manufactured homes but I have a feeling that they are too large for me. The little cottages, as my neighbor describes them, seem to be the right size but I have to come back and see them in person. But, whether patio or manufactured, I now feel that I can afford living in The Villages. You all have made me feel happy.

[tkret]

Originally Posted by graciegirl

I am pushing Tkret out of the way and talking to Eileen.

Sugar, You need to think again about the manufactured homes. I have seen some lovely ones and the cost to have your grass cut is about 50 dollars a month. I just am so frugal, it is better to hold on to as much cash as you can. Hang out at one of the pools near this beautiful area and talk to the people.

Also. You need to get a computer, so you can talk about Tkret behind his back on TOTV.

It is so wonderful in The Villages, there is a place for YOU. I think you can manage on your budget if you don't throw it away. There are plenty of things to do that are not expensive. Just find you a nice place with the bond paid.

Ouch, Graciegirl, you've pushed me out of the way, I've fallen, and I can't get up. But, at least, I fell in front of the tv and still can watch the game.

9Eileen9 has gone home to do her own calculations and really appreciates everyone's encouragement.

[yorkmaine]

We have a single wide mobile home in Orange Blossom Gardens (waterfront) that we purchased 5 years ago and we love it. Annual costs are around 6K. No mortgage,no bond. We are not homesteaders. Our home is around 1000sq/ft
Please look to our side of the road. It's very nice.

[dbucchi]

Yes you can afford it. My Mom lives in a patio villa and she loves it .Her income is around 1500 a month. She bought a pre-owned.