If you think most people in the villages pay cash for houses, cars, golf cart, you are gaga land. Just my observation:BigApplause:

the sales people told us most of the homes in the villages are sold all cash......no appraisals needed.

he also added that a large majority of buyers buy a second, a patio home, just for investment purposes, since he said that there growth is better that 10% a year and people feel that is better than the banks and the market.....

:popcorn::popcorn::popcorn:

Interesting….our sales agent who has been selling here for over 10 yrs. told us the majority take out a loan.

Ditto. When we were there we were told that 60% carried a mortgage.

Who really cares how someone else paid or is paying for their home??? unless they're knocking on your door for a donation!

This thread has really gotten off topic. But I will add my opinion. Even tho we could pay cash we don't as I believe it's better to use someone elses $$ (loan) and continue my investments. Cash or loans don't always truly reflect a persons financial status. Besides, who cares!

I understand where you are coming from
 

I totally understand where you are coming from. We've owned many homes and have not had a mortgage since we were in our early to mid 40's, when our two kids were in college. At our age now, of 69, we would not want the burden of a mortgage or loans for furniture, etc., cars, golf carts, etc.

We only buy what we can afford. Like you, we have done extensive remodeling over the years, always paying from our savings. It's a blessing not to have debt in your senior years. Once our home sells here, for good or bad (as far as profit goes) we will only spend what we have, with no need for a mortgage.

I once read on TOTV of how a villager in her nineties got a mortgage. That was surprising to say the least. Our town bankers have always been so conservative that I'd bet anything that they would not give such an elderly person a mortgage.

Perhaps it is just Yankee Frugality or New England Frugality.
Who knows? But I do "get" your message.

I also live within my means and our home has been paid for for years. But regardless, if what I am being told is true, that sinkhole coverage (not catastrophic ground collapse) will become non-existent in the very near future, the cost associated with problems from sinkhole damages could potentially be in upward of $100,000 or more. That is what the insurance agent told me.

For those of you who bought your home and could get coverage, I understand that you are not concerned. And now that you have your home, what can you do?, I understand that also. But as a potential buyer, would you have felt the same if there was NO coverage available to you?

Who cares

Now this gets me all riled up. My husband is still working. He is in his early seventies. Our home is paid for. He is good at what he does and enjoys it. He is able to work from our home and the hours that he wishes. As a result we were able to pay for our two grandchildren's college education and allow them to be launched without a debt, (They both maintained grades to keep them on the deans list) and be sure our daughter who has Williams Syndrome won't have to live off of anyone. We have always been careful and frugal. It is a choice and a mindset. Don't say anymore Gracie. Deep breaths.


Now I feel better, although it is off topic.

The thread has strayed far from the original topic of the sinkhole and is now closed.

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