[Two Bills]

Originally Posted by Toymeister

We bought five years early to take advantage of leverage.

Let's say a 300k home, 20% down. 8k in misc costs and 4k annually in costs not covered by renters. Three years advance purchase.

80k all in. 300k with 5% annual housing price increases = 347k home. 47k appreciation on 80k investment in three years.

Yes, yes, yes! There are risks, it can be a hassle, housing costs might not increase 5%, nor am I including the principal reduction.

It has worked well for us. Renting can be easily handled and does not require hiring a property manager with the associated 17% commission on rent.

I bet you use the Bryson DeChambeau method when you play golf!

[charmed59]

Originally Posted by Dan9871

Right now it looks like it is about six months to build a house. That's 3 or 4 months after you buy a lot to get a design appointment and 2 or so more for the build. But that timing changes all the time.

Comcast Business offers 1G internet in some places in the Villages; you need a specific location to know for sure. It costs around $300 a month.

If you are going to build, then you are going to have to come down here for the design process and then wait about six months to move in.

There are always lots of resales available though.

As far as closing if you are buying new, The Villages has a tight requirement, but it would be best to talk to a Villages salesperson for all the details of the timing of things.

When we came to the Villages for the first time on a Friday, bought a new, already built, house on Saturday, and moved in a month later. We're still the same house seven years later.

If the OP is looking for a brand new Villa the lead time might be much less than six months, as they aren’t buying a lot and picking a model, the houses are more or less built to spec.

That said, we too bought a pre owned home. Closing was 30 days and then it was ours to move into.

[John_W]

I moved from the suburbs of Baltimore that had a population of about 200,000, Bel Air & Abingdon, Maryland. We actually had two Kohls stores, one being a 2 story store, so it was decent size towns and we had eveything we really needed. I never went into the city unless to see a ball game.

The Villages was about 35 square miles before the new construction started south of SR44 about two years ago. I would guess it's got to be about 40 square miles now including the new areas, that about twice the size of the towns I came from.

With the area so big and spread out, as mentioned, renting is a really great idea. If you know you would only buy new, my home here was my eight and everyone was new, so that would narrow your choices a lot and maybe negate renting. If you're eager to live in the established areas, which is the 35 square mile area, then renting might be a great idea.

[Packer Fan]

Originally Posted by Toymeister

We bought five years early to take advantage of leverage.

Let's say a 300k home, 20% down. 8k in misc costs and 4k annually in costs not covered by renters. Three years advance purchase.

80k all in. 300k with 5% annual housing price increases = 347k home. 47k appreciation on 80k investment in three years.

Yes, yes, yes! There are risks, it can be a hassle, housing costs might not increase 5%, nor am I including the principal reduction. No I am not including opportunity costs of the 80k expenses. The point is leverage can work handsomely for the OP.

It has worked well for us. Renting can be easily handled and does not require hiring a property manager with the associated 17% commission on rent.

I agree a good investment, but I totally disagree with one part of your calculation - You will make more than enough to cover all your costs without throwing in $4k - the only way you would have to throw in money is if you use one of those high priced management companies. I have 2 rentals and they both cashflow positive, even with a mortgage. Jan-April, October and November are a lock, December and May are a bit tougher but rent about 80% of the time. I have even rented the summer months about 50% of the time. Villagers homes 4 rent is the secret. You won't get rich, but they appreciate every year. Easy to track that since there are always lots of each model for sale. The house I bought for $245K in 2014 is now easily worth $310, probably $320.

[Toymeister]

Originally Posted by Packer Fan

I agree a good investment, but I totally disagree with one part of your calculation - You will make more than enough to cover all your costs without throwing in $4k - the only way you would have to throw in money is if you use one of those high priced management companies. I have 2 rentals and they both cashflow positive, even with a mortgage. Jan-April, October and November are a lock, December and May are a bit tougher but rent about 80% of the time. I have even rented the summer months about 50% of the time. Villagers homes 4 rent is the secret. You won't get rich, but they appreciate every year. Easy to track that since there are always lots of each model for sale. The house I bought for $245K in 2014 is now easily worth $310, probably $320.

.

It really depends how honest you are with yourself. Homes are not furnished for nothing, the used golf cart you provide cost 5,000 (or more). Most owners simply don't include these costs, to not amortize these is misleading.

Over time, with increasing rent, it does become a more favorable calculation. It is worth noting that the average owner rents just under five months a year.

How do I know? I reversed looked up 26 homes on VH4R and tracked those back to water usage to calculate occupancy rates. It was a interesting exercise.

[DAVES]

Originally Posted by Jetakai

I know most people say come down and try it out, but basically when I retire I must leave Alaska. Winters are getting too hard. 3 years, 9 months, 21 days.

So when would you buy a house? The end of 2022? I don't want to have to fly back and forth. Can you just come down once, pick out everything and then just do paperwork by mail? How long does it take to build a home? When does the loan close? After you take possession?

I retire in about April of 2023 but I want to drive from Alaska to Florida with a lot of meandering so I may not be there until June. I am looking at a small house, with the Vineyard floor plan (I don't want to retire to clean). Can you hire a management company to take care of the place. I have heard that there are issues with squatters and you can't kick them out, or is that just something for myth busters?

One final question, where is the best place to be for 1gb Broadband and who is the best provider?

No one can answer these questions for you. Alaska to Florida?
Certainly a radical climate and life style change.
Issues with squatters? I never heard any such thing. Are you saying you plan on buying a place and renting it? I heard an ad the other day for a place that will manage a rental property.
They claim that they take 8% of the rent. Can't kick them out?
This is not New York. If, you have a tenant not paying the rent the sheriff tosses them out on the curb with all their stuff.

Committing now to a four year plan for a move to the Villages?
A lot can and will change in four years. Assuming you own a home in Alaska. Ability to sell it may be quite different in four years

[thelegges]

Originally Posted by Toymeister

.

It really depends how honest you are with yourself. Homes are not furnished for nothing, the used golf cart you provide cost 5,000 (or more). Most owners simply don't include these costs, to not amortize these is misleading.

Over time, with increasing rent, it does become a more favorable calculation. It is worth noting that the average owner rents just under five months a year.

How do I know? I reversed looked up 26 homes on VH4R and tracked those back to water usage to calculate occupancy rates. It was a interesting exercise.

If your financial guy is not making sure you are tracking all your expenses you need to find a new guy, Keeping a separate account for rentals is a must, keeping even the cost of a evac filter. You do however have the ability to just write off the structure, not contents, again your financial advisor can give you guidance. Renting unfurnished, long term.. Only expenses are taxes, amenity, water, insurance. Making profit at the maximum.
We have friends that use multiple sites, what I did find on most sites, calendars are not kept up to date, and are rented more than what site says.
We found this on multiple rental sites when looking for high season homes prior to buying. However long term rental postings are usually kept up to date since home only comes open rental every 1 to 5 years.