[Glinds8451]

So, when I see a new home listed on the Villages website for New Homes for Sale, and it is a $350,000 price tag, does that INCLUDE the bond, or is that just the price of the home, and then we would have to add whatever the bond costs ON TOP of that price tag?

And what about used homes. If a used home is listed as $300,000 and it states on the website that there is only $7,000 left on the bond..........does that mean it is already figured into the sale price of $300,000 or would it actually be $307,000?

Sorry for the stupid questions, but I'm new to all of this too!

[mickey100]

In both cases the price of the home is what is listed, and in addition you have to add in the cost of the bond to come up with your total purchase price. That's why preowned homes with upgrades and where the bond is paid off, are often such good deals.

[Hankg42]

Originally Posted by mickey100

In both cases the price of the home is what is listed, and in addition you have to add in the cost of the bond to come up with your total purchase price. That's why preowned homes with upgrades and where the bond is paid off, are often such good deals.

Now that is an eye opener! I have been looking at home prices, and if they don't quote the cost of the bond, then you really have no idea what the actual cost of the home is. Very difficult to house hunt on-line if this is true.

[The O's]

Always check the County Auditors page for the tax and bond amount on pre-owned. Many times the listing will show the tax amount, but not include the bond amount. Can be misleading if you don't know all of the figures.

[Hankg42]

Originally Posted by The O's

Always check the County Auditors page for the tax and bond amount on pre-owned. Many times the listing will show the tax amount, but not include the bond amount. Can be misleading if you don't know all of the figures.

This really has me concerned. How can you be sure you have the total cost, especially on new homes? Is there a way to confirm? Thank you.

[ilovetv]

Originally Posted by Hankg42

This really has me concerned. How can you be sure you have the total cost, especially on new homes? Is there a way to confirm? Thank you.

The way we see it, the costs of building water, sewer, streets, curbing etc. were included in the price of the lot we bought to build our homes on in other states. It didn't seem strange here to see a breakout of those costs.

All the bond amounts of various housing "units" here are available at http://www.districtgov.org/departmen...rtization.aspx

There at the link, the original per-home bond amount is shown with the interest rate assigned in the beginning, and the bond is amortized over 30 years, and the mortgage-like payments on it are billed with the annual county property tax bill.

Some homeowners choose to pay off the bond entirely to get rid of the annual payment that is added onto your county property tax bill, and to avoid the interest charges over the years.

Many others do not pay off the bond, because the remainder of the bond principal will be paid by the next buyer/owner. (The bond principal owed, if not all paid off, goes with the home.)

A TV sales rep can tell you how much of the bond is remaining on a used home being sold by TV, and they can tell you the bond amount on a new home.

An MLS agent can tell you how much of the bond is left on an MLS-listing used home.

The annual amount due on a home bond not yet paid off in Sumter County is shown on the property tax bills here, as "Non Ad Valorem Assessments". https://sumter.county-taxes.com/public

The best way to know bond specifics is to ask a TV sales rep or MLS realtor about a specific property listing.

I think pretty much everybody who's buying a lot to build on, in a development/subdivision in other locales, is paying the same "bond" costs, but these infrastructure costs are just blended into the lot selling price.

That infrastructure cost is why development lots are more expensive than a half acre in the pasture where one would have to build a road in, and build septic system, well, etc. etc. One way or the other, the home buyer pays for that.

[mickey100]

Originally Posted by Hankg42

Now that is an eye opener! I have been looking at home prices, and if they don't quote the cost of the bond, then you really have no idea what the actual cost of the home is. Very difficult to house hunt on-line if this is true.

I agree, it certainly makes househunting more challenging.

[Hankg42]

Originally Posted by ilovetv

The way we see it, the costs of building water, sewer, streets, curbing etc. were included in the price of the lot we bought to build our homes on in other states. It didn't seem strange here to see a breakout of those costs.

All the bond amounts of various housing "units" here are available at Village Community Development Districts

There at the link, the original per-home bond amount is shown with the interest rate assigned in the beginning, and the bond is amortized over 30 years, and the mortgage-like payments on it are billed with the annual county property tax bill.

Some homeowners choose to pay off the bond entirely to get rid of the annual payment that is added onto your county property tax bill, and to avoid the interest charges over the years.

Many others do not pay off the bond, because the remainder of the bond principal will be paid by the next buyer/owner. (The bond principal owed, if not all paid off, goes with the home.)

A TV sales rep can tell you how much of the bond is remaining on a used home being sold by TV, and they can tell you the bond amount on a new home.

An MLS agent can tell you how much of the bond is left on an MLS-listing used home.

The annual amount due on a home bond not yet paid off in Sumter County is shown on the property tax bills here, as "Non Ad Valorem Assessments". https://sumter.county-taxes.com/public

The best way to know bond specifics is to ask a TV sales rep or MLS realtor about a specific property listing.

I think pretty much everybody who's buying a lot to build on, in a development/subdivision in other locales, is paying the same "bond" costs, but these infrastructure costs are just blended into the lot selling price.

That infrastructure cost is why development lots are more expensive than a half acre in the pasture where one would have to build a road in, and build septic system, well, etc. etc. One way or the other, the home buyer pays for that.

Thank you!

I was hoping that that realtors and sales reps were up front about it, and that it wasn't one of those hidden costs that surprise you later on. Regardless, I now know some additional questions to ask, based on the good advice in this thread.

[graciegirl]

Help me here folks. This is roughly how you can figure it. At least two years ago it was. A new designer has a bond of about 23K. A new Premier of about 50K. A new ranch of about 12K(?) and a villa?


The cost of the bond is not included in your mortgage if you choose to have one. It is a separate charge with a high interest rate that many choose to pay off. We are not one who chose that way. People have told us that your first home here may not be your final choice and it is easier to sell a home with the bond not paid off, as it makes the asking price appear lower. We have already bought our second new home, didn't pay the bond on either and who knows what we may decide to do. Homes are easy to sell and the cost of moving is MUCH lower here.


This cost of the infrastructure NOT being included in the price of the home is new to most of us. It seems to work once you get the concept.


The homes are nicely built. I have lost track of how many homes we have had built or moved into new in our lives...over 10 for sure. The process here was the best and the things that have to be fixed are few and done immediately.


I DON'T work for the developer. Don't KNOW the developer. I am just a happy and satisfied villager like many, many here.

[dbussone]

Originally Posted by graciegirl

Since the cost of the bond is currently now about $24,000 on new designers now offered for sale , I would guess that it won't be much more. Perhaps the cost of the land from the dairy was greater than had been previously paid for land. I know a lot of owners adjacent to The Villages must have been waiting to sell their land at very high prices.


We will wait and see. Watching it all unfold gives us a front seat to history and I find it very interesting. The Morses are smart cookies. And we are smart people to live here.

When the land was transferred to First Baptist of Leesburg, it was appraised at about $50 million. Was sold to TV for about $10 million from what I was told.