Originally Posted by CoachKandSportsguy (Post 2258849)

I just built a financial model for retirement decision making, ie: When to take SS, take out IRA/ keep working, for a cash flow analysis, including federal taxes, std deduction changes, expenses, pensions, IRA balances and bond payoff along with auto replacement, insurances, roof replacements, etc. .

for the next 20 years for anyone to use. . testing it out tonight with a neighbor who just lost his job here in TV, and is 62, so needs some help making a decision. .

What i found in reproducing the Bond payoff amount by year, is that the numbers published on the district web site are pretty funky. . . doesn't fit the typical amortization schedule as presented. . its weird as the District interest and principal total is $1,790 versus the $1,824 as calculated by the excel formula, and tested out and its correct. .

Below is the comparison between excel amortization calculated schedule for the first 4 years, against the district schedule. . . I can't figure out what they are doing, and i suspect there are some cell adjustments which is why the schedule is a pdf, and the interest and principal totals are different. .

Here is the snapshot, any financial types help me out here?

Here is the link to the original schedule
https://www.districtgov.org/departme...Unit%2020V.pdf

Originally Posted by Nevinator (Post 2259376)

Has the bond amount been increased to $50k? The last I heard it was $30k. I’m planning on purchasing a lot within the next 60 days and if this fee has increased that will factor into my decision as to whether to buy new or used. Thanks.

Originally Posted by RRGuyNJ (Post 2259109)

The more I read about this bond nonsense, the more I see it as a deal breaker. I'm not a fan of HOA environments any way, but then add this bond to the mix and I don't see how they sell any homes at all. What am I missing? Other HOA communities don't have this set up. Yeah Yeah I know it's not technically an HOA but everyone knows it pretty much is.

Originally Posted by CoachKandSportsguy (Post 2258891)

not sure how two years interest free plays into it, as the payoff periods are still 30, count them, and there is no interest accrual on the schedule, which would be misleading.

The question would be when did they float the actual bond, and what is the schedule for interest payments to the bond holders. . . i guess that would play into this somehow. . .

things that make one go hmmmm, but not keep one up at night.

Originally Posted by petsetc (Post 2259738)

Having read and occasionally comment on bond threads through the years, the way I look at it is, the bond funded the initial infrastructure, most developers just add this cost to the house, but The Villages makes it a assumable "second mortgage" that can be retired any year. It allows The Villages to charge more for a house without appearing too out of line since the infrastructure cost is "hidden" in the bond, not the house price.

As for the cost and the county admin fee, if you pay your taxes in November, you get a 4% discount on the whole amount. But wait, the bond holder isn't giving you a discount, therefore the 4% off your bond payment must be made up. I suspect that comes from the (also discounted) admin fee.

Finally, based on historic investment returns, I see no reason to pay off the bond (or to not have a mortgage) but many people would rather be totally "debt-free" - I truly personal choice.

FWIW