[BobnBev]

Originally Posted by jcvdd1

Greetings-
Both my wife and I will be purchasing a brand new home within the next 60 days directly from The Villages ( Fenney )and we are both seeking any guidance you guys can provide:
1. Price of home will be in the 340,000 range and wondering other than the purchase price, what other fees will we be responsible for at the time of closing?
2. As a current Florida resident and homeowner, what will my county taxes amount to?
3. What will the bond amount be?
4. Will we need to purchase title insurance?
5. Approximate cost of homeowners insurance?
6. Approximate days to closing after placing a down payment, total cash transaction?
THANKS Joe & Cristina

Just an FYI-----I spoke with a plumber today, and he said that all the instant hot water units that are mounted on the outside of the house are too small. It takes 5 minutes to get hot water to the shower, then it's not all that hot. Something to check out.

[VillageIdiots]

Originally Posted by BobnBev

Just an FYI-----I spoke with a plumber today, and he said that all the instant hot water units that are mounted on the outside of the house are too small. It takes 5 minutes to get hot water to the shower, then it's not all that hot. Something to check out.

If he was a plumber, I wouldn't call him back. First off, they are not "instant hot water", they are tankless hot water. Both things exist, but they are not one in the same. It's not the size of the unit that causes the delay, it's the distance the water has to travel from the heater to the end point. If the size was a factor, once hot water reached the end point, the issue would be that the hot water would be sporadic with cold because the unit would be unable to provide enough heat to keep up with the rate of flow. This is no different than a traditional hot water tank where the amount of time it takes for hot water to reach the end point is relative to the distance that water needs to travel to get there.

[VApeople]

Originally Posted by capecoralbill

When i view the Villages new home Sales site, i don't see the bond amount listed , are they hiding
that fact? Where can it be found? Thanks

When we bought our new house in Osceola Hills in 2016, I can't recall if we were told how much the bond was.

In the fall of 2018, we went to the office in Lake Sumter Landing near Starbucks and, as I recall, they said we still owed $20,500 or thereabouts.

I have heard the bond in Fenney is about $28K for a designer home.

[Dan9871]

You find the Bond amount and amortization schedule for your unit here:

Bond Amortization Schedules

[New Englander]

What exactly is the Bond for?

[retiredguy123]

Originally Posted by New Englander

What exactly is the Bond for?

The bond is a loan that the builder takes out to pay for the infrastructure to support the houses in a particular area. This is the roads, utilities, etc. that are constructed before the houses are built. The loan is distributed among the homeowners. In other areas of the country, a developer will incorporate the infrastructure costs into the price of the houses, and there is no bond. You can make an argument that the bond concept makes more sense because, the houses are cheaper, and, if you only live in the house for a few years, you only pay for a portion of the infrastructure cost that you actually use, and then you transfer the bond to the new owner.

[Dan9871]

Originally Posted by New Englander

What exactly is the Bond for?

It pays for common things like streets and sewers and other infrastructure things.

In some parts of the country, like here, a builder, in effect, take take a loan to build this stuff and then, in effect, partitions out that loan to the buyers of the homes in the development. In other parts of the country those costs are just buried into the price of the house.

[Packer Fan]

Originally Posted by jcvdd1

Greetings-
Both my wife and I will be purchasing a brand new home within the next 60 days directly from The Villages ( Fenney )and we are both seeking any guidance you guys can provide:
1. Price of home will be in the 340,000 range and wondering other than the purchase price, what other fees will we be responsible for at the time of closing?
2. As a current Florida resident and homeowner, what will my county taxes amount to?
3. What will the bond amount be?
4. Will we need to purchase title insurance?
5. Approximate cost of homeowners insurance?
6. Approximate days to closing after placing a down payment, total cash transaction?
THANKS Joe & Cristina

I have bought both a new and preowned home in TV. Here is what I can tell you.
1. Pretty standard closing arrangement. I can't imagine it would be very much if you are not doing a mortgage, I would guess $3000?
2. My guess is your taxes would be about $3300 total - both ad volorum and non ad volorum together (not including the bond). It will be less if you claim homestead exemtions - probably drop that to under $3000.
3. they are typically around $30K now.
4. Title insurance is good to have, but you are buying from the developer - no chance anyone will challenge that, up to you.
5. Homeowners will run you $600-$800 go through the villages insurance. They are great.
6. As stated before, you have 30 days to close. I think Cash they will do a lot faster if you want.

I think you will find TV to be a pretty cheap place to own a property - everything is pretty reasonable, and your property taxes go DOWN every year.

[jcvdd1]

I thank everyone for their replies and input-


If possible, can anyone provide their HUD good faith closing estimate for a closing of a new ( never lived-in) residence purchased directly from The Villages on an all cash offer….

Also, I’m glad to read that homeowners insurance in The Villages for a basic Designer home is under $1000. Here in South Florida, I’m paying over $ 5100 a year for a similar house.

[New Englander]

Originally Posted by retiredguy123

The bond is a loan that the builder takes out to pay for the infrastructure to support the houses in a particular area. This is the roads, utilities, etc. that are constructed before the houses are built. The loan is distributed among the homeowners. In other areas of the country, a developer will incorporate the infrastructure costs into the price of the houses, and there is no bond. You can make an argument that the bond concept makes more sense because, the houses are cheaper, and, if you only live in the house for a few years, you only pay for a portion of the infrastructure cost that you actually use, and then you transfer the bond to the new owner.

Now I know, thanks.

[New Englander]

Originally Posted by Dan9871

It pays for common things like streets and sewers and other infrastructure things.

In some parts of the country, like here, a builder, in effect, take take a loan to build this stuff and then, in effect, partitions out that loan to the buyers of the homes in the development. In other parts of the country those costs are just buried into the price of the house.

Thanks

[pauld315]

Originally Posted by retiredguy123

The bond is a loan that the builder takes out to pay for the infrastructure to support the houses in a particular area. This is the roads, utilities, etc. that are constructed before the houses are built. The loan is distributed among the homeowners. In other areas of the country, a developer will incorporate the infrastructure costs into the price of the houses, and there is no bond. You can make an argument that the bond concept makes more sense because, the houses are cheaper, and, if you only live in the house for a few years, you only pay for a portion of the infrastructure cost that you actually use, and then you transfer the bond to the new owner.

It also allows the properties to appraise high enough if you need a mortgage. If they added in the price of infrastructure to the price of the house it might not.