[popeye]

I'm a little confused about the bond when you buy a home. What is a bond For? How long to you pay this bond?

[zcaveman]

There are a lot of posts about bonds. Go to the search bar at the top and put in bond payments or bond questions, etc.

Here is one site: https://www.talkofthevillages.com/sm...ic,5610.0.html

The bond is 30 years at 6.??% or you can pay it off in full any year. The bond payment is part of your annual property taxes.

[Indy-Guy]

Another good post is
https://www.talkofthevillages.com/sm...ic,7252.0.html

[JohnN]

popeye,
it's just another clever way to get a hand in your wallet instead of putting it in the price of the home

[Sidney Lanier]

Check out the other threads about the bond. (Hopefully) simply put, the developer spends whatever it costs to put in the infrastructure of a village (roads, sewers, water lines for both potable and irrigation, underground utilities, and so forth), then 'sells' the cost to a bond company who then collects back from the homeowners based on the type of home (the more expensive the home, the higher the bond) and when that particular village is built. This from the point of view that infrastructure at today's prices will result in higher bonds than villages built, say, five or ten years ago. In TV, instead of building in the cost of the bond to the price of the house, it is separate, giving the home buyer the flexibility to pay it all up front or pay it out over 30 years or pay it off at any point along the way which, I believe, can be done only at one certain point of the year. There is a bond on all new homes, and it is important to factor this into the price of the home itself. On a resale, at least a portion of the bond has been paid for the period that the house has existed--or it might have been paid off by the original owner or even a subsequent owner. Hope this helps....

[gingersmom]

It's like paying a fee to go into a furniture store to buy a couch. Brillant idea for the developer.