[Kepple]

Well, it looks like it really is possible for a chicken to turn into a frog!

Thanks so much for all your kind responses. I don't feel like quite a freak now.

I've never posted very much on this site but love reading all your posts. As it's been said before, you all are a wealth of information and now I can attest to your compassion as well.

[buggyone]

Maybe I shouldn't say anything but I find it amazing so many Villagers have taken out mortgages to live here.

I would think that selling your previous home would have given enough cash to buy without a mortgage. Even with a depressed sellers market up North, with the prices we paid many years ago, there was no trouble making more than enough to pay off a primary mortgage on the house we sold and having more than enough to buy without a mortgage in The Villages.

[Single Track]

Kepple, you are not alone in your feelings.

I plan to retire and rent this May & June. I've visited TV twice and absolutely loved it; BUT they have only been of short duration (week here & there). If I have the nerve, I want to purchase a home this summer; BUT will there be too many moments of missing my children & grandchildren. What if I buy and furnish it to my liking and then decide that it was the wrong move for me, then where do I go. I know I can never afford the lifestyle of TV in the Philadelphia region; BUT why do I lie awake so many nights worrying.

I hope whatever decision you make turns out to be the best one for you. I truly wish you good luck.

Single Track

[aljetmet]

Originally Posted by buggyone

Maybe I shouldn't say anything but I find it amazing so many Villagers have taken out mortgages to live here.

I would think that selling your previous home would have given enough cash to buy without a mortgage. Even with a depressed sellers market up North, with the prices we paid many years ago, there was no trouble making more than enough to pay off a primary mortgage on the house we sold and having more than enough to buy without a mortgage in The Villages.

This is abosolutely the best time since after WW II to take out a mortgage!

About 4%, real cheap. We haven't had a mortgage in a few years but want to take advantage of the low rates.

We Skype a lot to keep up with the grand kids. Also Florida is such a great place to visit. Good Luck!

[Bill-n-Brillo]

Originally Posted by buggyone

Maybe I shouldn't say anything but I find it amazing so many Villagers have taken out mortgages to live here.

I would think that selling your previous home would have given enough cash to buy without a mortgage. Even with a depressed sellers market up North, with the prices we paid many years ago, there was no trouble making more than enough to pay off a primary mortgage on the house we sold and having more than enough to buy without a mortgage in The Villages.

Originally Posted by aljetmet

This is abosolutely the best time since after WW II to take out a mortgage!

About 4%, real cheap. We haven't had a mortgage in a few years but want to take advantage of the low rates. .......

Two sides of the coin!

A couple of other sides:

- Not everyone is in the same financial boat to have a paid-off mortgage and/or the equity on their non-TV home to be able to pay cash for a home in TV. No way to know what everybody's personal situation has been.

- Corollary to that point: If somebody needs a mortgage to buy in TV and has the means to support it, is it wrong for the person to go that route?

- To me, the mortgage/no mortgage struggle has always had a good bit of "Whatever makes you sleep well at night" rolled into it as well!!!!

There's no 'one size fits all' answer or conclusion to it......just like the 'to buy or not to buy' discussion that's the initial topic of this thread.

JMHO - for what it's worth.

Bill

[Kepple]

Buggyone I agree with you, but we were trying to keep our home in OH and be snowbirds for a couple of years. After that time, we would sell. TV offers a wide variety of options for those who decide to sell and then move. Thanks for your input.

[SALYBOW]

We rushed into the move to TV because hubby wanted the golfing lifestyle. I was homesick for at least one year. We do have a mortgage but we always have. At first TV was a lot of fun, but since I had to get a job... not so much. It is hard to be driving to work and seeing walkers, runners, golfers and chatters all the way.
Around Thanksgiving I got very homesick again. I desperately miss my grand kids. We just had a new little bit and I do not see her much. We went North for Thanksgiving and at first it was great. Then the normal Cincinnati November kicked in and I began to experience Seasonal Affective Disorder. I really got blue. On the plane on the way home, as soon as we got above the clouds and saw sunshine, I felt happy again.

Things I have come to figure out since the move.
1. I cannot stand the weather up north anymore
2. Seeing the naked trees and vegetation of winter is really a downer
3. My new little bit lives in Minnesota so we/or they have to travel to see each other anyway. We would not have seen my son on Christmas because he is a doctor and had to work Christmas. They came down here right after Christmas.
4. Not having Christmas with family on the 25th doesn't matter as long as you do get to see them ( we spent the day with old friends.) The 25th is just an arbitrary day. We celebrated with the other two children and families the week after Christmas.
5. This past Sunday my next door neighbor was taken away by life squad to the hospital. To make a long story short, I realized that we have a very loving friendship with many people down here and the neighbors rallied around with out asking to help out.
What I am trying to say is that even though life is not perfect down here right now. It has nothing to do with TV rather than with the circumstances right now. All the grandkids will come down to see you. That is not just an empty promise.
Somehow, when you are on the phone talking to the people back home and hearing their weather woes, the 80 degree weather fits just fine.
I do feel a tiny bit sad when I have to get off the phone with them to go play golf. But I get over it in 20 seconds or so.
If you do decide to come down, call me whenever you are feeling homesick. I will listen!

[Happinow]

Thanks for sharing your experience Salybow. I'm sure I'll have those feelings as well and may indeed need your ear or shoulder. So glad you've settled in and loving your life in TV. Yippie the kids and grandkids come to visit. I'll bet it makes you feel good to share your wonderful life. I'm happy for you!

[LvmyPug2]

Carrying a mortgage or not is a very personal decision that often has less to do with available cash on hand and more to do with one's personal investment portfolio. We had cash to buy our house free and clear but our tax advisor, investment advisor and lawyer all strongly recommended we get a low interest mortgage, maximize the tax advantages and utilize our liquid assets in other ways right now. The key, I believe is living within your means and comfort zone.

[aljetmet]

Originally Posted by LvmyPug2

Carrying a mortgage or not is a very personal decision that often has less to do with available cash on hand and more to do with one's personal investment portfolio. We had cash to buy our house free and clear but our tax advisor, investment advisor and lawyer all strongly recommended we get a low interest mortgage, maximize the tax advantages and utilize our liquid assets in other ways right now. The key, I believe is living within your means and comfort zone.

Very well put. I rather pay off the bond with a 4% mortgage than pay 7% without a tax deduction just for starters....

[keithwand]

Cold feet- we moved to FL seven years ago and have 2 kids in TX and 1 in MI.
Yes we miss our 6 grandkids and children but they have their own lives and so do we. Even in the summer when back in MI we only see my son and family a few times.
We thought of moving to TX or back to MI but are now going to be moving to The Villages.

Mortgages-rates have never been lower so even though we have owned 2 homes outright for many years we will be mortgaging the one in TV. You can mortgage up to $417K at 4% (> $417K is 5%) and invest it and then get a tax writeoff for the interest paid. Our broker still gets us around 5% for A rated bonds or better. Its a win win.

[wendyquat]

Originally Posted by buggyone

Maybe I shouldn't say anything but I find it amazing so many Villagers have taken out mortgages to live here.

I would think that selling your previous home would have given enough cash to buy without a mortgage. Even with a depressed sellers market up North, with the prices we paid many years ago, there was no trouble making more than enough to pay off a primary mortgage on the house we sold and having more than enough to buy without a mortgage in The Villages.

Congratulations on your "prosperiousness"! Believe it or not, it isn't that way for everyone! Sometimes having a mortgage makes more sense than not having one! There's also a tool called a Reverse Mortgage for Purchase that works for some. Everyone's situation may be different and even though it would be wonderful to own everything with no debt that is not a prerequisite to living in The Villages!

[Schaumburger]

Originally Posted by Single Track

Kepple, you are not alone in your feelings.

I plan to retire and rent this May & June. I've visited TV twice and absolutely loved it; BUT they have only been of short duration (week here & there). If I have the nerve, I want to purchase a home this summer; BUT will there be too many moments of missing my children & grandchildren. What if I buy and furnish it to my liking and then decide that it was the wrong move for me, then where do I go. I know I can never afford the lifestyle of TV in the Philadelphia region; BUT why do I lie awake so many nights worrying.

I hope whatever decision you make turns out to be the best one for you. I truly wish you good luck.

Single Track

Kepple and Single Track, Moving away from family and friends a long distance is a big decision. Take your time and don't feel rushed. TV should be around for a long time -- at least I hope so because it will be a few years before I can buy in TV. Good luck in whatever your decisions are

[buggyone]

Aljetmet wrote, "Very well put. I rather pay off the bond with a 4% mortgage than pay 7% without a tax deduction just for starters.... "

That is very good reasoning and makes a lot of sense.

What I did was to buy a Villages home that was a resale and there was only a $1500 bond remaining. Best of everything. No bond, no mortgage.

[LittleDog]

[QUOTE=LvmyPug2;444802]I can TOTALLY RELATE! After 5 years of planning and dreaming of living in TV, I was so excited when we could finally shop for our new home. We looked and looked and finally found the right house for us. We signed the papers and that night I freaked out. All I could think was "What have we done???" I had never had a moment of doubt from the first time we visted TV 5 yrs earlier and now I had developed a serious case of cold feet. It took both DH and I by complete surprise.
=================================

We bought in 3 days without really much thought other than we fell in love with the place. My wife said the same thing, "what have we done?"
However when we returned to NJ there was 16" of snow on the ground so that must have been an omen that we made the right choice. We had friends in NJ but no family so the move was a little less traumatic for us. However, as others have mentioned on this thread you have to be happy for yourselves. If I did have family in NJ I still would have moved here. However, I'm a guy and women usually feel a little bit differently.

John