[Deb H]

Cause they were providing relevant information based on the question. Why would you care either way if they liked it here?

[Dilligas]

Originally Posted by Mom222

We've been checking out open houses in TV for several years but only recently actually met with a salesperson.

We're considering building a new house in the 500K range. The salesperson said (or hopefully I misunderstood) that the annual cost of property taxes + bond is 2-2.5% of the home's value. So this would be up to about $12,500 per year.

We have lived in FL for decades. Our current home is worth about the same amount and our taxes are 4K per year. (I don't know how/if homestead exemptions, save our homes transfer).

So I was expecting taxes to be about 5K per year which would mean the bond could be 7K or more per year--- or about $600 per month.

Is the bond really about $600 per month? Does this seem about accurate? Are property taxes a lot more than 5K per year. Does the total amount seem pretty accurate?

I'm disappointed if it is as that is a large monthly expense.

Thank you!

If you have been in FL for many years, and have homestead, that exemption will port to TV. Depending on your current home, price, tax, your will receive a porportionally valued exemption here. We lived in South FL for 11 kears and moved here in 2011. The current exemption we get is far better than those who moved here from out of state. Our current assesed value vs market value is between 50% and 60%. Make sure you port (if you are selling your current FL home)
The other replies you got will allow you to estimate the bond and base tax of the home....if the bond is not already paid off.

[Toymeister]

Purchase 11/2019 in the newer area for 675k, current value 1.1m taxes and bond just under 9.5k. bond 27.5k

That places the tax/bond to value ratio at 1.4% at purchase and .86% at market. As a homesteader future increases are limited to three percent (I believe).

So this, in a small way, goes to show you the best time to purchase was yesterday.

[dewilson58]

And when we get the Guacamole 25% PROMISED real estate tax rollback, this place will really be a deal.




(sorry)

[bhancock]

One of the best ways to buy a home anywhere, if you're 62 or older is with the H4P program. You can buy the home you really want, not the one you thought you could afford, AND, you never have to make a mortgage payment!

[newgirl]

You need to remember you are paying 6.9 ( or close to that) for the bond. If you choose to get a home equality loan to pay it off the interest would be less then half.
You may want to look at all the gorgeous pre-owned home that bond is paid and you will be closer to everything going on in The Villages.

[tuccillo]

No. I would guess the interest rate on the bond for a new home will probably be in the 3-4% range, not 6.9%, based on CDD 13 rates. YMMV. I doubt there are any bonds in The Villages that are higher than about 5.5%. There is a service charge that increases the cost a bit.

Amortization Schedules - Sumter

Originally Posted by newgirl

You need to remember you are paying 6.9 ( or close to that) for the bond. If you choose to get a home equality loan to pay it off the interest would be less then half.
You may want to look at all the gorgeous pre-owned home that bond is paid and you will be closer to everything going on in The Villages.

[bhancock]

The best way to buy a home in the villages, or anywhere, is by using the FHA program called the HECM for Purchase. You have no mortgage payment, and you don't need all cash. So you put cash back in your pocket, and you're usually buying a home twice the cost of the one you thought you could afford. Simple qualifying, never a mortgage payment, much nicer home.

Bruce