[bobolink46]

We are thinking of purchasing a designer home in Hadley and have been told that the bond is $20,000. that adds $2000.00 a year onto your taxes. that's alot of money over 30 years. Does anyone know if this amount is correct. any comments or help would be appreciated. thanks

[clekr]

We just bought in Hadley. Your bond would be $21,9xx. You may pay it off early if you wish.

[rshoffer]

I'm embarassed to say i don't understand the "bond". can someone explain what it is, why we pay it and what, if anything we get for what we pay. My cousin who lives north of 466 told me to buy a home up there because of "the bond". I wanted to be around a younger group so I didn't now I've got "the bond'. Sounds contagious.

[Dutchman]

Not sure how you get 2000 a year. At 6.5% (I don't know what the current rate is) for 30 years it would be short of $800. a year.

The bond is the infrastructure costs for the particular area, ie roads, sewer lines, electric lines, etc. As labor & material costs increase over the years the bonds are getting larger. I looked at new patio villas where the bond is $16000. Patio villas built several years ago had bonds 1/2 that.

[Muncle]

Talk about disappointment. I took the subject literally and thought someone really hot had moved into Hadleyville, and maybe pics! :hot: :hot: :hot:

Major let down.

Re boNds, though, there is a good explanation at https://www.talkofthevillages.com/sm....html#msg84143 Be sure to read 07's corrections about 3 msgs later.

[Cassie325]

Originally Posted by Muncle

Talk about disappointment. I took the subject literally and thought someone really hot had moved into Hadleyville, and maybe pics! :hot: :hot: :hot:

Major let down.

Re boNds, though, there is a good explanation at https://www.talkofthevillages.com/sm....html#msg84143 Be sure to read 07's corrections about 3 msgs later.

I THOUGHT THE SAME THING!!! :chillout:

1rnfl 1rnfl 1rnfl 1rnfl 1rnfl 1rnfl

[JohnN]

short answer - yes

[graciegirl]

Originally Posted by Muncle

Talk about disappointment. I took the subject literally and thought someone really hot had moved into Hadleyville, and maybe pics! :hot: :hot: :hot:

Major let down.

Re boNds, though, there is a good explanation at https://www.talkofthevillages.com/sm....html#msg84143 Be sure to read 07's corrections about 3 msgs later.

Muncle. YOU are so BAD. 1rnfl 1rnfl 1rnfl How are you doing fella?

[bobolink46]

The mortgage broker told us it would be $2000.00 per month. $800 per month sounds affordable. anyone out there who can give me info on what teir bond costs per year at say a 20000 bond. thanks

[spk7951]

We have a Designer home in Hadley and our bond is $21,000 which gives us a yearly payment of $1,500 per year.

[graciegirl]

Originally Posted by bobo

The mortgage broker told us it would be $2000.00 per month. $800 per month sounds affordable. anyone out there who can give me info on what teir bond costs per year at say a 20000 bond. thanks

That amount is per year. Were you sitting next to me in Math Class? I went to Columbus South and graduated in '57.

You have to live in Hadley!! :bigthumbsup: That is where the fun begins. :#1:
Come on down! I know at least eight other people who live there and they are just the greatest bunch you could hand pick!!

They even overlook my posts in the Political forum. :redface:

[Autoshow]

after paying your yearly bond,the balance accumulates interest, Example
Bond 20000
Yearly payment 1500
Balance $18500 plus interest,about $1200, plus $50 for the paper work
Bond reduced after 1 year about $300
It is like a 30 year mortgage
If you can pay it off you can save plenty on the interest.
The sales people only tell you it can be paid off monthly,never telling you the other costs involved.
My bond was 6000, after the first year I realized the true cost and payed off the balance
I am not bitter,I am only giving you the true facts.

[gemorc]

Originally Posted by rshoffer

I'm embarrassed to say i don't understand the "bond". can someone explain what it is, why we pay it and what, if anything we get for what we pay. My cousin who lives north of 466 told me to buy a home up there because of "the bond". I wanted to be around a younger group so I didn't now I've got "the bond'. Sounds contagious.

We onery oldtimers, up here north of 466, wish you young whipperstappers would come on up north and see us some time. You will truly be supervised. Geez, some of us even have old fashioned gas stoves and furnaces.