[Two Bills]

Originally Posted by Normal

Just wait till the end of summer, answers may be different when the full blown housing deflation saturates into the area.

Love a cheery post.
Just off to cut my throat!

[Birdrm]

Originally Posted by MandoMan

The link is to a company trying to get you to give it your money. If you click on the “Worst Places to Retire” page, what you get is how you can retire if you have less than $500,000 in savings. That’s a LONG way from NO SAVINGS. Here’s what it says about The Villages, the #4 best place to retire with no savings:
4. The Villages, Florida

Percentage of population 65 and older: 85.7%
Average 2023 home value: $418,926
Average 2023 property tax: 0.91%
Whether the state taxes Social Security benefits: No
Annual homemaker services costs: $57,200
Annual home health aide costs: $57,200
Annual grocery costs: $4,591.44
Annual healthcare costs: $6,882.37
Annual utilities cost: $4,124.89
Annual transportation costs: $3,454.73
Annual necessity costs: $19,053.43

A lot of people who only have Social Security get under $20,000 a year. If they are a couple, that may be under $40,000, and it will be cut in half when one dies. How are they supposed to pay $57,000 for a home health aide if they need one? Looks to me like they can’t afford to even stay alive.

The fact is, unless you can sell your home where you came from for enough to pay cash for a home here and maybe even bank some, don’t even look. You can’t afford to make mortgage payments here plus live, even with two Social Security incomes or one and a pension. If you can pay cash for your house here, you can scrape by unless one of you gets very sick. However, there are plenty of older homes within driving distance of here that you can buy for half as much as the average home here, or even a quarter. True, you won’t have access to our clubs or pools or executive golf courses, but you can scrape by, like most retired people.

The alternative is moving here and supplementing Social Security payments by working until the end. I have a friend who is 78 and does okay by working three days a week as an RN at a nursing home. Another is 80 and works as a self-employed home health aide in The Villages and has a reverse mortgage.

I think the way to live in the Villages without any savings would be to pay cash for the home (no mortgage) and have a decent SS payment $3k a month and some type of pension $1k a month. I believe you could own a home here and live with $4k a month in expenses?

[Hplaw]

Originally Posted by MrChip72

Unless you're going to live in the trailer park section of TV, it's certainly not a good place to retired for people with little savings. The rent in TV is much higher than most non-coastal retirement communities in Florida. You would be lucky to rent a smaller home at the rock bottom in any half decent part of TV for $24k/year.

Your reference of "trailer park section" is offensive. The homes there are almost all well maintained landscaped. There are more and more new stick built homes going up. We have rented in the "historic area" and currently in the Sumpter Landing Area. I find many residents look down on you if you have property in the historic area. Another consideration for moving to The Villages.....the majority of people are kind and friendly (as anywhere). But, sad that where you choose to live becomes a snub by many. Are we still in High School?

[Normal]

Originally Posted by Two Bills

Love a cheery post.
Just off to cut my throat!

Think positive, it’s a life style we both have bought into, not an investment! If markets go as forecasted by most, many more will be able to afford what you and I have. That’s a good thing!

[Hplaw]

Originally Posted by elle123

You could buy a little **** box in the historic section and with your monthly Social Security
and pension pull it off. I'm sure many are doing just that.

WOW! ***** box in the historic section? How disrespectful to those living in the historic area. It's very friendly and "real" there. Not everyone can retire and afford $500,000 plus homes. How nice you may be able to do so, but how sad you refer to those who cannot in this manner.

[Normal]

Originally Posted by Hplaw

WOW! ***** box in the historic section? How disrespectful to those living in the historic area. It's very friendly and "real" there. Not everyone can retire and afford $500,000 plus homes. How nice you may be able to do so, but how sad you refer to those who cannot in this manner.

So true.

[MrChip72]

Originally Posted by Hplaw

Your reference of "trailer park section" is offensive. The homes there are almost all well maintained landscaped.

My apologies, I meant "mobile home park section".

I was simply stating that it's the only part of the Villages that may be affordable within the budget stated by the OP. It wasn't meant as an insult.

[harby]

Due to my plain honest & wise financial experience, I don t think it s ideal to live in TV...you may find one near TV which is much cheaper with no amenity fee. The average rental cost in TV is about long term 1,800 plus per month plus your internet, tv cable, phone, elec., gas, rental insurance, etc.or you may buy a villa or modular home for 275,000 plus $175 monthly amenity fee, property tax, ins., utilities, lawn care (+frequently lawn mowing), etc. Really depends on your monthly income...don t forget to pay for unexpected appliance, hvac, roofing, maintenance, etc. plus your vehicle that may fall down.
I happen to own 3 TV rental properties and hate to hear how their monthly budget barely goes with their rentals, etc. Hope not to offend you...just want to leave you a honest tip. Chas

[rustyp]

Originally Posted by elle123

You could buy a little **** box in the historic section and with your monthly Social Security
and pension pull it off. I'm sure many are doing just that.

Originally Posted by MrChip72

My apologies, I meant "mobile home park section".

I was simply stating that it's the only part of the Villages that may be affordable within the budget stated by the OP. It wasn't meant as an insult.

Newsflash - many of the homes on the historic side are selling for a higher price than patio villas. In addition the historic side probably has more golf and waterfront homes than any other area in TV.

[rsmurano]

Originally Posted by MrChip72

Unless you're going to live in the trailer park section of TV, it's certainly not a good place to retired for people with little savings. The rent in TV is much higher than most non-coastal retirement communities in Florida. You would be lucky to rent a smaller home at the rock bottom in any half decent part of TV for $24k/year.

I know multiple homes that get over $7000 a month in prime season for a designer home with pool. They get $3000 a month in off season

[JMintzer]

Originally Posted by Two Bills

Love a cheery post.
Just off to cut my throat!

When you only know one song... It's the only song you sing...

[kkingston57]

Originally Posted by golfing eagles

I would suggest that anyone with no savings is probably not in a position to retire, and there is no "best place" available. (Unless you are the retired former county exec of orange Co., Ca who receives a pension of $387,000/year.)

Back in the day there were good pensions. Some people probably can make more money now than when they were working and can now save money and/or live well within their pension and SS, especially if there is not a mortgage

[kkingston57]

Originally Posted by La lamy

Hard to believe TV was included. The rent, even for older manufactured homes are so expensive. And if you buy, the amenities fees really add up too.

Compared to what? Cost of living in S. Florida is at least 30% higher than in TV.

[kkingston57]

Originally Posted by Robojo

No. You have to have money to live here.

Very few places in the US which have a lower living cost. than Central Florida/TV. 30% lower than places on the coast

[MrChip72]

Originally Posted by rsmurano

I know multiple homes that get over $7000 a month in prime season for a designer home with pool. They get $3000 a month in off season

We get $6000 in prime season. Designer home with no pool. $3000 off season. South of the turnpike.