[Dr Winston O Boogie jr]

I just bought a new house in Silver Lake so we have no bond. But I am interested in the event that some day I might move to the other side.

I assume that the bond is tied to the value or sales price of the house, but I've never seen and actual number.

I have a friend who was going to purchase one of the new homes on this side, but decided, for personal reasons not related to The Villages to buy in the one of the new sections. He said that he was really disappointed when he learned about the bond.

[Pmount]

Originally Posted by Dr Winston O Boogie jr

I just bought a new house in Silver Lake so we have no bond. But I am interested in the event that some day I might move to the other side.

I assume that the bond is tied to the value or sales price of the house, but I've never seen and actual number.

I have a friend who was going to purchase one of the new homes on this side, but decided, for personal reasons not related to The Villages to buy in the one of the new sections. He said that he was really disappointed when he learned about the bond.

I just purchased a preowned in Charlotte. I also looked in Pine Ridge at new homes. Bond in Pine Ridge on a Cottage home is $25,000

On a preowned you assume the balance of bond and in my case on a 2 year old home has about 18,000 left. I think the cost of development of the area determines bond, not style of home. Size of home and lot would determine taxes. CYV always seem to be less,for both bond and taxes

[Sandtrap328]

The bond for new homes is between $23,000 and $53,000 right now.

It is always a good idea to look at resale homes for lower bond prices and the ability to negotiate sales price!

[KeepingItReal]

Originally Posted by Dr Winston O Boogie jr

I just bought a new house in Silver Lake so we have no bond. But I am interested in the event that some day I might move to the other side.

I assume that the bond is tied to the value or sales price of the house, but I've never seen and actual number.

I have a friend who was going to purchase one of the new homes on this side, but decided, for personal reasons not related to The Villages to buy in the one of the new sections. He said that he was really disappointed when he learned about the bond.

A lot of preowned homes have the bond paid already if you look.. All the bond amounts are on this link by unit. All bonds for all the lots in a unit are the same.

Bond principal, bond interest, and an annual administrative fee make up the yearly payment which is basically the same for 30 years.

Bond Amortization Schedules

Bond Information:

Residential Bond Assessment Information

[manaboutown]

I have heard that the interest on the bond is not tax deductible as are the interest on a mortgage and the property taxes. Is this true?

[NYGUY]

Originally Posted by manaboutown

I have heard that the interest on the bond is not tax deductible as are the interest on a mortgage and the property taxes. Is this true?

Yes. Of course, what you put on your tax return is between you and the IRS!!

[rubicon]

Originally Posted by Sandtrap328

The bond for new homes is between $23,000 and $53,000 right now.

It is always a good idea to look at resale homes for lower bond prices and the ability to negotiate sales price!

Are you including lots with a view and/or golf course lots?

[Bogie Shooter]

Originally Posted by rubicon

Are you including lots with a view and/or golf course lots?

All lots in a unit have the same bond, regardless of location in the unit.
Check the links in #4.

[dewilson58]

Originally Posted by NYGUY

Yes. Of course, what you put on your tax return is between you and the IRS!!

Very appropriate answer.

[John_W]

In 2011 bonds on new homes in Tamarind Grove, Buttonwood and St. James were approx: $10,000 for a patio villa, $14,000 for a courtyard villa, $21,000 for a cottage, $24,000 for a designer home and $40,000 for a premier home.

[Bryan]

Silver Lake in in Lake County. NO Lake County homes in The Villages have a bond. NEW homes in Marion and Sumter Counties will have a bond. Pre-owned homes MAY have a bond balance or the bond may have been paid off. Check before you buy.

[villagetinker]

You can look up the bond by address (at least in Sumter county), and from the links above estimate the remaining payments also. Agree with previous poster, if you are looking at a house, as the owner or the realtor about the bond.

[Roaddog53]

The bond has nothing to do with the price of a house. It is tied to the type of homes as mentioned above for the infrastructure of those homes. For a simple example, to develop the premier section of homes, it may take $4,000,000 in roads, sewers, utilities... They take the number of lots in that premier section and divide by the $4,000,000. Since there are far less lots in premier sections due to the size of the lots, let's say 100 lots, the bond per lot, no matter the size or price of the home on it would be $40,000. They than amortize the $40,000 over so many years (20 years usually) at a given percent at the time to float the bond and that is the monthly payment. Hope it helps.

[Mleeja]

Originally Posted by Bryan

Silver Lake in in Lake County. NO Lake County homes in The Villages have a bond. NEW homes in Marion and Sumter Counties will have a bond. Pre-owned homes MAY have a bond balance or the bond may have been paid off. Check before you buy.

I was under the impression due to the different taxing structure, there was not bonds in Marion County.

[Phanatic Luvr]

Originally Posted by Roaddog53

The bond has nothing to do with the price of a house. It is tied to the type of homes as mentioned above for the infrastructure of those homes. For a simple example, to develop the premier section of homes, it may take $4,000,000 in roads, sewers, utilities... They take the number of lots in that premier section and divide by the $4,000,000. Since there are far less lots in premier sections due to the size of the lots, let's say 100 lots, the bond per lot, no matter the size or price of the home on it would be $40,000. They than amortize the $40,000 over so many years (20 years usually) at a given percent at the time to float the bond and that is the monthly payment. Hope it helps.

Great explanation except they are for 30 years, not 20.