[bp243]

What is your home address? You may find a buyer here.

[Dlbonivich]

1031 exchange is for investment properties. You sell an investment property and use proceeds to purchase a like kind investment property with no tax implication. On the original question the bond on $250,000 dollar house in new section is around 27,000 at a 3.79% interest rate and the extra tax is about $900 dollars. The amenity fee is $164 on all homes sold after 1/1/21. The are estimates. Andrea Bonivich, Sellstate Superior Realty

[Debfrommaine]

Originally Posted by richs631

The biggest hit would be taxes and the bond. I personally know 3 people who recently bought Similar sized homes, bond was double and taxes on average $2,200 more for the same size house

We are on our 4th home in TV. With each move on the "North" side, the bonds increased on our new home purchases, it is not different than what's happening on the "South" side. Our 4th home is on the "South"side. The bond is about the same as our previous "North" side home, the difference is that the "North" side bond had been paid down some over the years. With the Sumter County tax increase a year or so ago, our taxes increased on the "North" side. Our move to the South was relatively the same on taxes, the difference being we are now considered part of the City of Wildwood, so there is an increase of about $600. For us the open green space, preserves and lifestyle are worth it. And we love a new home with the warranties and no real worries for the next several years of having to replace a roof, A/C unit, windows, etc. It's all personal preference but the move "South" for us was a good decision. If more homes were being built on the North side, you would see bond increases there and feel the impact of the 25 percent Sumter tax increase - our North side home got a good whack with taxes when the increase was in put into place. Also, when you buy a resale on the North or South side, the tax rate changes to the rate of the price you bought the home for, it does not stay the same as to when the seller bought it for years before.

[sallyg]

We bought in the south thinking it would be a wise investment. Even after you subtract all the associated costs of moving and selling, we were right, and the resales around us have been sold in days. It is a very desirable area and it's nice to have new everything. The Florida climate is really hard on houses, roofs, plastic window frames, etc. With a new or almost new house you don't have to worry about replacement for years.

[My Daily Run]

Water and sewer is much more expensive in the SSU utilities phase 2 and everything on the bill is taxed...every line item...water base, water etc...probably $10.00 a month just taxes plus your water and sewer is very high...many people don't realize that there are I think 6 or 7 different water depts with some slight price difference and some major differences...I have 2 friends that moved down there and we're shocked by their water bill...check it out first

[Beach Boy]

Might depend on the desirability of your present location and house. Don't forget bond doc stamps and enhancements you may have added.

[pgettinger01]

The only advantage might be the interest rate on mortgage money but that is no different then doing a refinance.
If you HVAC is due for replacement about every 10-15 years you might save $6,500 for 10-15 years.

It is not easy South of the turnpike to go north by golf cart. The bridge across the turnpike is not open and depending on where you live south of the turnpike you might have a 10-15 golf cart ride from the bridge. For example Monarch Grove.

[stebooo]

Well if you do this math and verify against you personal financial condition and measure your piece of mind you will have your answer. Mine may be very different. Only you can make that decision. Happy or not.

[genobambino]

Wife and I finally went down to Bradford area below Chitty Chatty just to see what's going on, we drove around that whole new area. The only thing I can say is CLAUSTROPHOBIA set in, can't believe how much narrower the streets are and how much shorter the driveways are plus the houses seem a lot closer together. I could never move down in there. We live in Pine Hills and love it.

[Loonymom]

Does the seller pay all the closing costs? Approximately how much should they be?

[Pairadocs]

Originally Posted by mvbird

Wonder if anyone else has tried to calculate these costs.

Suppose we sell 2 BR home in Duval (+ or - $250,000) and buy similar new home south of the turnpike for same price?

A big expense would be selling commission, and taxes, but let's take them off the table, assume we sell it ourselves and it's our primary residence so no taxes. Bonds are more expensive down south, amenity fees also. There will be title office costs for us to sell and there will be some costs to buy as well.

Will the effort be worth it ? Is it possible to buy a house where everything is new for the same price you sold your 2006 house for ?

Have wondered this many many times and you stated it, great, can't wait for the variety of answers ! I wondered about property taxes, seems those I know who built here long ago now, move to a small house and their tax bills become higher, yet, full time like us and homestead exemption, so not sure how that would work, or even with an even exchange in value like $250K home for $250K villa ?

[Pairadocs]

Originally Posted by sallyg

We bought in the south thinking it would be a wise investment. Even after you subtract all the associated costs of moving and selling, we were right, and the resales around us have been sold in days. It is a very desirable area and it's nice to have new everything. The Florida climate is really hard on houses, roofs, plastic window frames, etc. With a new or almost new house you don't have to worry about replacement for years.

What really defines "north" and "south"; for instance, is the village of Fenney considered "south" ? What about the Brownwood area, what is that considered ? ? Are ALL villages between 466 and 466A "North" ? What about the older villages near Spanish Springs AND the villages across highway 441 that are always called "historic" villages, are they considered "north" also ?

[Pairadocs]

Originally Posted by pgettinger01

The only advantage might be the interest rate on mortgage money but that is no different then doing a refinance.
If you HVAC is due for replacement about every 10-15 years you might save $6,500 for 10-15 years.

It is not easy South of the turnpike to go north by golf cart. The bridge across the turnpike is not open and depending on where you live south of the turnpike you might have a 10-15 golf cart ride from the bridge. For example Monarch Grove.

WOW ! Villages is a nice community but that's really starting to defeat the whole purpose of going almost anything without constant fuel expenses of a car, constant auto rides into "town" for things, etc. Personally would probably have regrets if we did that..... and we've thought about it of course !

[Two Bills]

Originally Posted by genobambino

Wife and I finally went down to Bradford area below Chitty Chatty just to see what's going on, we drove around that whole new area. The only thing I can say is CLAUSTROPHOBIA set in, can't believe how much narrower the streets are and how much shorter the driveways are plus the houses seem a lot closer together. I could never move down in there. We live in Pine Hills and love it.

First time wife and I toured 'down south' we thought the same thing. Definitely seemed more houses, less room.

[Debfrommaine]

Originally Posted by Pairadocs

WOW ! Villages is a nice community but that's really starting to defeat the whole purpose of going almost anything without constant fuel expenses of a car, constant auto rides into "town" for things, etc. Personally would probably have regrets if we did that..... and we've thought about it of course !

Interesting point. Living here in the South, the new Publix, expected to open in a few weeks, will be the closest we've ever been to a Publix in the 4 homes we've owned. Currently, Rohan is about the same as our North side home to grocery stores. We don't go into "town" for things other than entertainment and a walk around the square, we'll golf cart it soon to Brownwood and beyond, and be just a close as where we lived previously. I do remember saying the same things you mentioned when we moved to Tamarind Grove and there was nothing on 466A.......and look at it now! It will happen here too, in the 11 months the progress is amazing and beautiful!