Bond Payment

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  #31  
Old 05-25-2011, 07:15 AM
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Re-sales have a "wear & tear" factor to look at. At some point the roof, HVAC, water heater, appliances and kitchens will need replaced. New homes should be more energy efficent. Some re-sales are priced higher than new,even when looking at the bond. Need to look at all factors whether you buy new or re-sale. Need to do what you are comfortable with. When you buy new the "wear & tear" factor kicks in.
Another good point- all systems have wear out dates -all appliances, heating and cooling , roofing etc, Again these must be factored in when deciding whether a lower bond(usually older home)is really a better investment. A properly prepared appraisal with appropriate adjustments for time, location and useful life is also important. If these considerations are factored into the spreadsheet, then the possibility of a good decision is enhanced. Low or no Bond does not necessarily mean a better value.
  #32  
Old 05-25-2011, 05:15 PM
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Perhaps the intent was better energy efficiency in the form of appliances, etc. that consume less power - fridge, dishwasher, HVAC system, and so on. Just my interpretation.....

Bill
Not to mention the Low E windows that are being installed in the new homes. That makes a ton of difference in the cooling bill if you get a lot of sun.
  #33  
Old 05-26-2011, 06:18 AM
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Why do you say a new home would be more energy efficient? We have a block home with double pane windows purchased new in 2006. I don't see that the block homes being built in 2011 are any more energy efficient.
It would depend on your HVAC "SEER" rating. TV was using 10 SEER units until until sometime in 2006 or 2007. The last time I checked (Feb 2011) They were using 13 SEER units. A 13 SEER unit would use about 25% less energy than a 10 SEER unit. IN 2010 the law require minimum 13 SEER units. The make units as high as 26 SEER but TV does not offer upgrades. Todays "energy star" applinances use 20%-30% than those made in 2006. I was not aware they are using Low-E glass now, but would be a big help with the FL sun during the A/C season.
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Old 05-26-2011, 08:56 AM
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It would take many, many years to make up for the difference in energy costs to come to a saving of $25,000 just in bond difference. Add in the ability to get a CBS house (after being checked out by a home inspector) for a lot less money than a new house (by being able to negotiate with the seller), not paying for upgrades that are really basic items, and IMHO you have a better deal.

Of course, like I always say, lots of people love having a brand new never lived in home. I have done that and it is a great feeling. This is NOT to criticize anyone at all.

I might have even gone the new home route myself - but it was necessary to move in to The Villages ASAP for reasons.

No matter if you are in a brand new house or a re-sale house, The Villages is a great place to be with wonderful people everywhere.
  #35  
Old 05-26-2011, 02:34 PM
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I live outside Tampa, in a CDD, and I have a hefty CDD payment, which is paid through my taxing jurisdiction. However, it is not handled the same and we don't pay interest on it, and if our CDD had not refinanced the loan, we wouldn't be paying one now. It is not financed over 30 years. It started out being financed over 10, and I can't pay off my share. So, I actually like the way it is separated out in the Villages, where I can choose to pay interest and pay over time, or pay it off.
  #36  
Old 06-15-2012, 03:23 PM
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I think on the bond issue you must do what you are comfortable with doing. When I saw that only 375 dollars of 1600 dollars a year was going to my principal... I said I want to pay off that 30 year bond. Hopefully I will live in the house for many years and the kids will then have it...or I will have to advertise it as bond paid off. I can not get 6.5% anywhere now in an account...so I am happy to pay it off...other people are not comfortable so they will not pay it off. I plan to pay myself back and then use the money for something else later...who knows what that will be.
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Old 06-15-2012, 03:43 PM
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the bonds pay for the infrastructure of your area....some builders add this cost to the price of the home and you would just have it added to your mortgage....in TV they have a unique way of making more money... you can pay your bond over 30 years and in most cases pay more than 2 times what your original bond was. Something to consider on paying it off would be your age....I move into TV at age 50 so I thought if I'm around another 20/25 years it was better to pay it off 1st year
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Old 06-15-2012, 03:48 PM
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Wish I would have figured that out the first year and not the third year...it is even better to get it added to your mortgage payment at a low rate.
  #39  
Old 06-26-2012, 04:40 PM
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The bond on a designer house that cost approximately $350,000 in the village of Charlotte is just under $20,000.
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Old 06-26-2012, 06:10 PM
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Originally Posted by luvtheloop View Post
The bond on a designer house that cost approximately $350,000 in the village of Charlotte is just under $20,000.
The amount of bond for your home has absolutely nothing to do with the price of the home. It is based on how many acres are in your unit which is then divided by the number of lots. Your house can cost approx $350,000 and your next door neighbor's house can cost $199,000 and you're both going to have the same bond payment.
  #41  
Old 06-26-2012, 06:57 PM
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Does the estimate of $192/mo. for DDA on TV "Estimated Monthly Cost of Living in The Villages" flier include the interest? I had assumed so since this represents paying it over time. This information makes you think it is based on the home value because it states it is based on a $250K home. But from reading your comments I see this isn't a correct assumption. Since many of you have pointed out the benefits of paying it off, I probably should consider both options before deciding. I had no idea that the interest rate is 6.5%. Is that correct? Thanks for your help.
  #42  
Old 06-26-2012, 07:30 PM
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We paid the bond off, it is 7% interest if you don't, and that's not tax deductible.
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Old 06-26-2012, 07:45 PM
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Many do not pay it off. There are quite a few who have moved several times within The Villages. When you factor the paid off bond price into the price of reselling your house it sounds much higher.

No one believes that they will decide to move once they buy, but it happens frequently. Some people decide they want or don't want a golf view or they want to be nearer to shopping or other things. Since moving household goods is less expensive here and houses are easier to sell, people change their minds and move..sometimes to a bigger home and sometimes to a smaller one.
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  #44  
Old 06-26-2012, 07:51 PM
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Many do not pay it off. There are quite a few who have moved several times within The Villages. When you factor the paid off bond price into the price of reselling your house it sounds much higher.

No one believes that they will decide to move once they buy, but it happens frequently. Some people decide they want or don't want a golf view or they want to be nearer to shopping or other things. Since moving household goods is less expensive here and houses are easier to sell, people change their minds and move..sometimes to a bigger home and sometimes to a smaller one.
We haven't moved in yet. Were already Looking! It's a CarGuy thing
  #45  
Old 06-26-2012, 08:06 PM
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We paid the bond off, it is 7% interest if you don't, and that's not tax deductible.
Bond rates will differ. Ours is 5.375% - house built in '07.

Bill
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