Premiums to be on a golf course were very high and I paid it more than five years ago. I do not know what they were for ponds at that time. Since the interest rate on the bonds runs over 6 percent, if you decide to stay in your house for any great length of time, paying off the bond makes economic sense. I would certainly not eat it if I sold my house. Many people do not do the math. Buying a house with a bond would be like paying an additional mortgage on their house. How do they not see that? I am surprised to hear that the density south of 44 is less, not because I do not see it, driveways are shorter ,etc., but they are loaded with villas and I would have assumed their gain in density because of that would have balanced out the number. I have not, however, counted the housing units.

Would certainly be a deal breaker for me, especially when you have no way to recover that cost if you need to sell in the short run.

Well for me the deal breaker would be buying a house south of 44 so far from everything. But for you, if that’s where you want to live, just consider it part of the purchase price and act accordingly.

I’ve never understood most people’s obsession with having a new house vs. buying a pre-owned house. You sink a lot of cash into the typical home upgrades and the lower new home price is then offset by the cost of upgrades and the bond.

My advice is to find a pre-owned house south of 466A. Newer homes, more central location, younger more active neighbors, upgrades all done, lower or paid bonds. Lots of houses for sale so you can be picky. And use both the Villages sales agent and a MLS agent to see all the resales.

It's just part of your house cost. Either you pay it off or you finance it. Simple.


If you can't afford it, either purchase less house or move on. Simple.

This is what I love about Talk of the Villages!

Now...to answer the OP's question, yes, the bond in the far flung Villages to the south would be a dealbreaker. In fact, it was a deal breaker when I bought in January. I opted to buy a resale close to Lake Sumter with no bond. It's 14 years old with the original roof, but the cost of renovations will be less than the bond, and I'm in a location that can't be beat.

It's not that high on all of the new homes. Just depends on how many homes are built within a given area. The fewer homes, the higher the bond.

Does this bond make sense?
 

The bond is to pay for the developers cost of infrastructure and common areas. Why is the bond so high now that the county (ie, taxpayers) is picking up the tab for the infrastructure in that 25% tax increase?

No one buying or selling a house - using a competent real estate sales person, would ever assume a bond. If they do, the sales person is guilty of malfeasance.

Schwartz & Morse made their first BILLION dollars from bonds > costs. The Villages is NOT a non-profit organization.

Wow that means they are charging $76,000 for the utilities that serve 2 houses across from each other. Sounds a little high to me must include the development costs and road as well. I would look into it before buying into it talk with the county and city folks.

The best way to look at it from a financial standpoint when deciding on a house is to add together the purchase price plus the bond. That will give you a true picture of the cost.

Bond
 

I’ve bought and sold 5 new homes in the villages and never paid the bond off , when I sold them a couple of people wanted to subtract the bond price I said no all my homes sold full price , plus whatever the bond was , if you plan on buying another home down the road don’t pay bond off

My husband and I look at it the same way we do with houses up north where the bond is already calculated into the price of the home: we combine the home price with the remaining bond to evaluate if the house is worth the cost. TV salespeople will tell you buyers do not consider the bond in making buying decisions, but they are wrong at least in our case. In some ways it seems like buying a new car in that as soon as you roll that car off the lot the value goes significantly down. Your house gets appraised. If the appraisal does not equate to the home price plus bond then you paid more than the market value for it. If you are ok with that then go for it. Also consider that many homes with the bond paid are older so may need renovations. You should likewise consider the cost of those renovations in you evaluation of an older house with no bond. We just bought an older home with no bond that was in need of some renovations. The market value was $25k more than what we paid and we are expecting to pay about $15k to renovate. The area is beautiful, great location, and we have equity from square one. A great buy for us.

Bond interest
 

Bond also includes interest for as long as bond not paid off. So REAL cost can be two to three times bond amount

A drainage pond is a waterview....in NJ we called it a gravel pit or retention basin. Not premium...

Not the common areas. Visit www.districtgiv.org before your next post.

Visit Village Community Development Districts before your next misleading post.

Feral hogs WOW .Please where can I see one I’m a Fenney resident .

Just stay up at night and see what moves across your yard. You might be surprised.

Never heard of a "bond" on a new home purchase until I moved down here. I understand the reason for the bond, but it does make someone to pause when they compare the amount of home you get right outside of the Villages. Yes, you are paying for the lifestyle. You also pay for the lifestyle every month and in your tax bill. I have purchased twice here and both times, the bond has been paid off. I get just as much home as those purchasing a new home. It all has to do with what you are willing to pay. Some have money that they know they can't take with them, so they don't mind. Others are on a limited budget but want to live the lifestyle here. It is what it is. As long as people are willing to pay the "extra" price, then the homes are worth it.

I would be looking at preowned between 466 and 466A. Great area close to everything!

We moved here in Feb and purchased resale in same area. House 10 years old and only half of original bond left.

Think $ 38,000 would be more than most or at least us would pay

Also, some pre-owned homes may have had upgrades or replacement maintenance done which increases the value. We live between 466 and 466A, and almost everyone in our neighborhood has a new roof recently, new AC/heating unit, etc. with the bonds almost paid off. Many have added granite and stainless, hurricane shutters, etc. and have mature landscaping. I'd advise people not to jump in and buy a new home, but check the pre-owned homes and see what's out there. You can save a lot of money and maybe end up with a nicer lot and better location in The Villages.

What was the bond 10 years ago?? And the time value of money.......probably not significantly different than $38k.

In 2000 the bond was $1800 on a designer in Santo Domingo. $38K is crazy!

Exactly, there's no evidence a bond effects sale price when looking at the county tax records. Some buyers may walk but there are others right behind them.

If you can roll it over to your mortgage, or better pay it up front do it. My house was new in 2003, bond was $12,000, I let it go to my taxes, I still owe $5,000 and its still adds another $600 a year to my tax bill.

And the interest paid on the bond is not potentially tax deductible whereas mortgage interest is.

Only non-deductible if you get caught. :1rotfl:

Bond
 

I would never pay it. Not with all the previously owned homes that have all the extras already installed, ie: gutters, landscaping in the back, an extra sized patio leaving the lanai, some with painted drives and lanais, shelves in the garage and the laundry room, and a paint color besides white. :a040:

Any home one buys ANYWHERE has the individual lot infrastructure costs (the bond amount) built into the pricing. It’s just that here in The Villages those costs are split out. Not a deal breaker.

The correct thing to do. The bond is amortized just like a mortgage, which means the interest is front loaded. You have already paid 80-90% of the interest. No point in paying off the remaining balance at this point.

Correct me if I'm wrong, but the balance of your bond should have no impact on your taxes, which are based on the assessed value of your home. The bond payment is listed on your trim notice for information only, not part of tax calculation. It's a fixed annual charge based on the unit that you live in. The amortization table is available online.

I could be wrong but I think he means he continues to make the bond payment with his tax bill in November.

My bond was costing 5.1%.
That’s more than I was willing to pay.

many pre owned homes still have bonds, so always ask. It isn't always obvious

The only problem with your calculation is the loss the seller has already incurred from all the interest they paid to the developers.

Neither a mortgage nor the bond has front loaded interest. Show where you found that info.

Yes, there is misinformation here, including this.

Bonds in TV are paid ANNUALLY. Someone may Think they are paid monthly because they have a mortgage escrow prorated monthly as part of a home mortgage payment but, in fact the bond is paid ANNUALLY. It is collected with your property tax.

If you have no escrow this is very clear you get one, annual, bill for taxes and bond.

Hope this helps!

More fear mongering and misinformation. Monarch grove District 12 bond runs $30,500. One way or another someone has to pay for infrastructure. It's a development cost that will always be passed on somewhere and somehow. Lot cost, added to taxes, or separate bond. Compared to many other areas of the southeast, I like the peace of mind that comes with well thought out drainage and flood mitigation protocols. Ever wonder why those sprinklers are inundating the golf courses during the rainy season ? It comes from forethought on how to keep your house dry .. Current bond interest rate 4.3%.. Compare your total tax bill to where you moved or are thinking of moving from. Then make your decision . No one is forcing you in .. or making you stay. tens of thousands of homes have been sold and resold with the bond ..