OK but several real estate sales folks have told us not worth paying off bond unless we are sure to stay in our current house for forseeable future so our bond is still there for now.

Different strokes for different folks. I look at it as bad debt, like paying interest on a credit card.

We all spend our money as we see fit.

Thinking it is best to decide if we stay in current house for some time before paying off bond and possibly not getting the money back from our buyer.

The bond is not the same as credit card debt or even mortgage debt. Those debts are debts against an individual that can affect their credit rating and can have other financial consequences, like higher insurance rates. But, the bond is a debt against the property, and does not count as individual debt. The individual homeowner never needs to pay off the bond. But, you do need to pay interest.

I understand. To me it is like credit card debt because you can't write-off the interest.

Here's a thread on Bond discussion.

https://www.talkofthevillages.com/fo...highlight=Bond

Doubt that will help, there are only 107 posts on that thread.🤦

Just another Groundhog Day thread... 🤣

The question of whether to pay it off or not is a different question than whether or not the existence of a bond balance has an effect on the purchase price, or attractiveness of the property compared to other properties.

We were told by several real estate professionals that most people will not consider the cost of the bond in deciding on whether to buy a property.

So buyers don’t consider the fact that buying an asset, has an additional $0/15,000/$35,000 liability?

Buy one sell one
 

That's true, but there is the chain reaction effect. Newcomers have to sell their homes up north to buy in TV. People buying those homes up north will likely have mortgages, and the selling price of those homes may be less due to higher mortgage rates. In turn, the newcomers will have less proceeds to spend on their new home in TV. So they may be more sensitive to what they pay in TV. Trading one home for another of similar price is easier to swallow.

Pools?
 

Could also be pools. If somone adds a pool to the home it adds a lot to the asking price. I don't know if the developer sells a lot of brand new homes with pools, or the new owners put the pool in after the sale?

Pay the Bond or not?
 

That's a good question. I pondered the same question, before I decided to pay off my bond. I bought a pre-owned home with a $9K bond with like a 4.5% interest rate. Thinking there was like 10 years left on the bond. I was figuring I will have the house for at least 10 years so it was a good bet. Even if I sold after 5 yrs , iI'd probably get my money back.

I think some do and some don't consider the Bond. Some people only look at "what can I afford". If they can afford the bond payment, they don't care. Others, like me add the cost of the bond to the purchase price (in their minds).

I would say having a bond is not a make or break for most buyers. It could be a tie breaker for some people considering comparable houses. In addition, they may not negotiate as hard on the hose without the bond.....but who knows.

Actually, I don't think the appraiser and the mortgage company factor in the bond when determining the amount that can be borrowed. Also, if you are listing a house with a bond, the listing agent will definitely tell you to not pay it off. Note, that when you buy a house with a bond, you can pay it off or not. But, when you buy a house without a bond, you can't add a bond. So, buying a house with a bond gives you more options. If you are going to sell your house within a few years, there is no doubt that you will benefit by not paying off the bond.