When Do You Buy Your Home?

When Do You Buy Your Home?

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  #11  
Old 07-10-2019, 08:39 AM
Dan9871 Dan9871 is offline
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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.

The problem with taking your time is that you can't. Once you see a house or lot that you want if you don't buy it, then it will be gone in a month or maybe a day.

The question you have to answer for yourself is, do you want to move to central Florida or The Villages. A vacation to the area might help you make that decision. If you are sure, then buy it as soon as you are ready.
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  #12  
Old 07-10-2019, 09:08 AM
JerryLBell JerryLBell is offline
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We lived in North Carolina until we retired and were able to come down and visit The Villages a few times (a luxury I know you don't have). However, we never did the Lifestyle Visit, we never rented a house for a month, we never researched which would be the "right" neighborhood for us and we never bought a "starter" home, thinking we'd move into our "real" home later on. Instead, we picked out a house we really liked in a new neighborhood and bought it essentially over the phone with the realtor we'd met. We didn't have to be here for our closing. We bought about a year and a half before we retired and moved and used a local property management company to find somebody to rent the unfurnished house out to for a year (and did that entirely by phone). Because we weren't here for the closing on the house, we didn't do a walk-through with the builder until almost a year after we bought the house (and did catch a couple of very minor things to have repaired). When we finally moved in, we risked having the house be really beat up by the renters, of not liking our neighbors and of not having chosen the right neighborhood. Instead, the renters had treated the house gently, the property management company's cleaners made the house look like new, our neighbors have turned out to be great friends we simply hadn't met yet and we love the neighborhood. The whole thing worked out well for us. We'd never owned two homes at once before and that was a little scary but the rental income, while not making us any actual money, did give us some tax breaks and allowed us to buy at the prices we first saw rather than the price houses in our category were going for a year and a half later (and prices only go up here). No regrets here.

Right now you can only buy "new" houses in the new areas to the south that are expanding so rapidly. We've thought that we're glad we're in an area with nearby town squares (Brownwood and Lake Sumpter Landing for us) and other established retail. There's just not enough of that in the new areas for us. My niece bought down in Fenney despite our misgivings and absolutely loves it. She revels in the constant growth, bicycling trough ever expanding neighborhoods, golfing in newly opened courses, playing pickelball in new rec centers and swimming in new pools. She knows that retail and dining and such takes a bit more to get to now, but that it's all coming her way.

There are definitely companies who will watch your house if it is empty (our property management company did that before and after the renters lived there), ones that will do your yardwork (if you have a yard) and pretty much any other service you can think of.

As far as 1 Gb broadband, I'm not sure if there are any here yet (I looked initially because I moved from an area where Time Warner offered 700 Mb and both AT&T and Google offered gigabit). I'm getting 130 Mb DL from Spectrum. I download a lot, stream a lot (including 4K video), play games online and I can't come close to hitting my theoretical maximum download speeds. There are some faster vendors than that, but check to see if they have data caps. What good is gigabyte speed if you can hit your data cap in a week? Also, keep in mind the selection of internet providers is predicated on which neighborhood (aka "Village") you live in as The Villages is so big that it is serviced my multiple vendors.
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  #13  
Old 07-10-2019, 09:44 AM
Chatbrat Chatbrat is offline
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Honestly, time is the most important commodity--man makes plans & God laughs--if you think you can square route your future you are kidding yourself, smell the roses , before its too late--
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  #14  
Old 07-10-2019, 01:10 PM
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Toymeister Toymeister is offline
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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.
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  #15  
Old 07-10-2019, 01:12 PM
Two Bills Two Bills is offline
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I would hang on where you are.
Listenining to all predictions regarding Climate Change, by 2022 when you are due to retire, Alaska will probably be warmer than Florida.
I know last winter here in TV. we had days when we were colder than Anchorage.
Polar bears were sighted on several golf courses!
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  #16  
Old 07-10-2019, 01:19 PM
Two Bills Two Bills is offline
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Quote:
Originally Posted by Toymeister View Post
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!
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  #17  
Old 07-10-2019, 09:35 PM
charmed59 charmed59 is offline
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Quote:
Originally Posted by Dan9871 View Post
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.
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  #18  
Old 07-11-2019, 09:41 AM
John_W John_W is offline
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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.
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  #19  
Old 07-11-2019, 08:23 PM
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Packer Fan Packer Fan is offline
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Quote:
Originally Posted by Toymeister View Post
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.
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  #20  
Old 07-12-2019, 07:24 AM
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Toymeister Toymeister is offline
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Quote:
Originally Posted by Packer Fan View Post
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.
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