[oakback]

Originally Posted by Chatbrat

Too all the people who claim to own multiple homes. If you own them free and clear--you own them. If you are paying a mortgage you are renting them from the bank. time for a reality check.

I understand you have an aversion to debt. You pay cash for everything.
That is one strategy that many prefer, and has it's merits.

I've been in the real estate industry for over 30 years, and have found that leverage can also be a good thing, if done prudently.

I did leverage some of my purchases when we began buying in TV. We were at the bottom of the market, and it has worked out quite well.

My latest purchase will be cash.

I don't think I would leverage much of a $171,000 patio villa purchase.

But I could be wrong. TV real estate market is quite unique.

[Chatbrat]

I never had a mortgage in my life -bought new construction houses in Morris County Nj -pre-construction discount-had my crews live in them- used the basements as the job site trailers--all over head was covered by my renters- when the projects ended -threw in a fresh coat of interior paint--made enough so I could retire @ 52

[2BNTV]

Originally Posted by graciegirl

Every one's home is their castle. I have been in a lot of houses here and each was beautiful and just right for their owner. A home is sold for what someone will pay for it. But the true value of a home is that it is where we go to rest and renew, to share food with people that we love, where we welcome our friends and enjoy the companionship of our mate if we are blessed to have one. It is a place that keeps us dry and comfortable and we are able to keep our possessions.


There is not one home here any nicer than any other home here. Some are a little bigger than others, but we all have smallish lots and almost all of the kitchens are open to the living area. In ALL of our neighborhoods, we are close to golf and swimming pools and rec centers and near paths that lead us to a lot of fun activities.

I could be very happy in a tent if my treasured friends would come and see me and my spouse and daughter were there with me.

Homes are things. People have hearts and feelings.

Amen!!!

Some people I know have bought houses where the house owns them and have to check their wallets before they can go out and spend a few bucks.

Mom always used to say, "worry about things you can't fix with money".

Everyone has different needs and desires. As we all age, one does not need a hugh house that one needs to clean. I tell my friends who are in their 50's, "when your in your 70's, you won't be jumping up on Saturday morning and saying, great, I get to clean this big house again"! IMHO

[oakback]

Originally Posted by Chatbrat

I never had a mortgage in my life -bought new construction houses in Morris County Nj -pre-construction discount-had my crews live in them- used the basements as the job site trailers--all over head was covered by my renters- when the projects ended -threw in a fresh coat of interior paint--made enough so I could retire @ 52

That's an interesting business model.Good for you. Sounds like it worked out well for you.

[Chatbrat]

In Morris county NJ in the early 80's bought a house for 189--pre construction-sold for 418-24 months later-- it was a feeding frenzy-check out Zillow Chatham NJ @ eat your heart out for making $$$-sell your house for 1 million & they bulldoze it and build a 3 million MacMansion--in the old days there were bidding wars --Monday morning-after the house was in the NY Times Sunday edition--it was unbelievable
Made more money moving paper than I did wiring projects

[oakback]

Originally Posted by Chatbrat

In Morris county NJ in the early 80's bought a house for 189--pre construction-sold for 418-24 months later-- it was a feeding frenzy-check out Zillow Chatham NJ @ eat your heart out for making $$$-sell your house for 1 million & they bulldoze it and build a 3 million MacMansion--in the old days there were bidding wars --Monday morning-after the house was in the NY Times Sunday edition--it was unbelievable
Made more money moving paper than I did wiring projects

No wonder you retired at 52!

[Retiring]

Originally Posted by Chatbrat

Too all the people who claim to own multiple homes. If you own them free and clear--you own them. If you are paying a mortgage you are renting them from the bank. time for a reality check.

Even when you don’t have a mortgage you never really own your home. Try not paying the property tax. You will be kicked out, at gunpoint if necessary. You are just renting from the State. If you’re neighbor has a mortgage and you don’t - you are simply paying less rent than your neighbor.

We are forever, “renters.”

[Villageswimmer]

Getting back on topic...does anyone know approximate taxes and if there is a bond on the new patio villas?

[Chatbrat]

So you're saying if you don't pay you're income taxes to the Fed --you're renting your life from the Fed--
Taxes are overhead--they are not an encumbrance--if you can't afford your taxes - yopu should be living under a bridge.

[graciegirl]

Originally Posted by Chatbrat

So you're saying if you don't pay you're income taxes to the Fed --you're renting your life from the Fed--
Taxes are overhead--they are not an encumbrance--if you can't afford your taxes - yopu should be living under a bridge.

Not exactly. If you can't afford the taxes on the home you want, than choose a home you can afford with taxes you can afford. You don't have to live under a bridge, for pete's sake.


I am still pondering how anyone starting out has all that money to pay cash for something that expensive unless they inherited it. Our first house was $13,900 and we had scrimped and saved and sacrificed for the twenty percent down payment. We were 21 and had dated for four years and worked while we went to school. School was a lot cheaper, but..........A lot of sacrifices to get the down payment and no financial help from the parents.


We have bought all new homes but one over time and made some money on each of them, except one. I have lost track how many, but then we helped our kids get started too. Been a part of a lot of home buying and selling for NOT being in real estate, and we didn't lose money.


We always were very conservative as to what we thought we could afford.


We love this home here. No snow in the driveway........ever.

[Challenger]

Originally Posted by Chatbrat

The only difference between a renter and a person who has a mortgage is the down payment. No one can honestly say they own a car if they're making payments--they don't have clear title--the same should hold for real estate--if you don't have clear title--you don't own it.

What is so difficult to understand.

A renter has no share in the equity of the property. He has no right
right to benefit financially from improvements he has made nor does he suffer from a dimunition in value. There are so many differences both legally and socially that it would take a very long time to describe them.

Ownership is not the right answer for all people in all situations. Further renting has appropriate and inappropriate applications. One size does not fit all. The two however are quite different.

[Moderator]

The topic is new patio villas in The Villages.

If you want to discuss the merits of mortgage vs all cash, feel free to start a new thread.

Moderator.

[Packer Fan]

Nice to see them still building housing for all incomes if you ask me.

[asianthree]

Back to patio villas. Neither reps could tell me the bond or taxes, would have to get back to me. Right..but I will say a couple had the ugliest flooring I have ever seen. In my mind anyway

[Dr Winston O Boogie jr]

Originally Posted by jimbo2012

2 1/2 years ago $135K

Big jump

I moved here about 3-1/2 years ago and $135K was the bottom price, and that was on previously owned villas. Most were in the $150K range.

The price of everything goes up and for those that already own here, that is a good thing.