minimum income

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  #31  
Old 09-27-2007, 08:28 PM
trumbull trumbull is offline
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Default Re: minimum income

I have a comment and would like to get a response . If you go to the viilage website under advertising , rate card the comment is made that the average household in tv has a family income of $85,400. Just trying to nail down the cost when I stop working. We are from CT Fairfield county and everything is so expensive.
  #32  
Old 09-27-2007, 08:46 PM
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Default Re: minimum income

trumbull... that avg income may be a carrot to attract more commercial tenants; Last year, I met the gentlement who heads Citizen First Trust Dept and he quoted my a similar $85K figure...but, as I recall that pertained to their most recent homebuyers, not the total Villages population. This could be reasonable, given the number of younger retirees (and still working folks) coming in, those that are purchasing properties now (while still working) in anticipation of retirement, etc. Lots of ways to bend the numbers.

But, that being said, I think a number of the prior posts give a fair estimate of cost of living and the variables to consider. Size of house, mortgage or no mortgage, bond paid or no bond, auto expenses, insurance costs (self insured for health?) and all the extras (eating out, golf) all factor in. I agree that the basic cost to maintain a house here, excluding mortgage, is between 800-1100 per month. This would include all the various fees and services, homeowners insurance, property tax, bond, utilities. Vacations, dining out, extra golf, auto expenses, clothing, charity, income tax, etc are above and beyond this figure.
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  #33  
Old 09-27-2007, 09:07 PM
jjdees jjdees is offline
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Default Re: minimum income

trumbull, where did you find the village website under advertising?
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  #34  
Old 09-27-2007, 09:21 PM
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Default Re: minimum income

SOOO - if you winter in TV and summer elsewhere you probably have to add the 800 - 1100 fixed monthly cost to the 3500 to 4000 to determine your cost to have two places (plus mortgages if applicable). on he upper end it looks to be about 5100/mo or 61,200 per year (I still think everyone is talking net numbers - after taxes numbers) so you probably have to add about another 10% which makes the total more like 67,000 per year for two places (and it looks like maybe over 1/3 of village people are snowbirds)


Maybe i need to work a few more years ! LOL
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  #35  
Old 09-27-2007, 09:28 PM
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Default Re: minimum income

Quote:
Originally Posted by chuckinca
SOOO - if you winter in TV and summer elsewhere you probably have to add the 800 - 1100 fixed monthly cost to the 3500 to 4000 to determine your cost to have two places (plus mortgages if applicable). on he upper end it looks to be about 5100/mo or 61,200 per year (I still think everyone is talking net numbers - after taxes numbers) so you probably have to add about another 10% which makes the total more like 67,000 per year for two places (and it looks like maybe over 1/3 of village people are snowbirds)


Maybe i need to work a few more years ! LOL
Assuming that's right, at 6.7% return, you'd need $1 million invested to make $67K without hitting the principle!
  #36  
Old 09-27-2007, 09:32 PM
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Default Re: minimum income

Guess I'll have to sell my house
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  #37  
Old 09-27-2007, 09:36 PM
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Default Re: minimum income

LOL ;D
  #38  
Old 09-27-2007, 09:46 PM
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Default Re: minimum income

If your selling your house you'll have to get in line. Lots of people waiting to sell so they can move to TV. >
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  #39  
Old 09-28-2007, 02:10 AM
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Default Re: minimum income

OK, where should I start hm? OK Boomergirl, when you have something to ask that has NOTHING to do with the CURRENT TOPIC you go to the bottom of the page and click on the words NEW TOPIC.
Now to the topic at hand. I believe the person who posed the original question to be of modest means and I think my original response was fairly accurate. Yes muscles59, if you have a hefty income mortgage interest is a good deduction on an investment which will most likely increase. If someone has a paid house they can always get an equity loan or reverse mtg. We are Californians and have huge equity in our home (even in this market) and after all these years I can't wait to be mortgage free. So i can spend my bucks on life in retirement instead of supporting the bottom line of the bank. :hot: :hot: :beer2: :2cool:
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  #40  
Old 09-28-2007, 01:05 PM
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Default Re: minimum income

jjdees it is under the villagesdailysun website, advertising then rate card
  #41  
Old 09-29-2007, 09:31 AM
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Default Re: minimum income

I have a 2,500 monthly retirement and I live in a patio villa with the 12 dollar monthly cable. I only spent between 800 to 1000 a month. Much cheaper than my old home. Go most places on electric golf cart. \ No mortgage in that. ..
But I have saved a lot from my retirement!!!!
  #42  
Old 09-29-2007, 10:47 AM
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Default Re: minimum income

My 84 yr old mother lives in Orange Blossom Hills in a double wide manufactured home and does about the same thing - gets by spending about a 1000 a month (with no mortgage); however a couple three times a year unexpected repairs/improvements/etc can cost a lot more and push the average closer to 1500 per month.
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  #43  
Old 09-29-2007, 11:30 AM
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Default Re: minimum income

Trumbull, I found it. Interesting stats. I'm kind of surprised at the average income of $85,000. I thought that was high.
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  #44  
Old 09-29-2007, 12:05 PM
garsha garsha is offline
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Default Re: minimum income

We bought our house in the villages last year. We are still in CA both working > waiting for our house in CA to sell. I think the way the rate card is worded, this would include us in the average household. It sounds like we are not the only ones that own TV houses that still haven't retired yet. With both of us working it would pull the average up. This really distorts what we are all looking for which is: how much does it take to live in TV. I think the 3-4 thousand a month depending on your mortgage and car payments is right in the ball park.

From the Rate Card:
85,800 Average household income (in dollars) for home buyers in The Villages
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  #45  
Old 09-29-2007, 12:55 PM
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Default Re: minimum income

Good point Garsha. I hadn't thought of that.
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