Looking at the Villages

PALjeneral · 07-31-2009, 10:08 PM

I am thinking seriously about buying a retirement home in the villages. Is it feasible to buy now with the idea of renting the home for the winter season for several years to cover the cost of ownership?

Army Guy · 08-01-2009, 08:31 AM

Yes, many do that now.
TV is a great place, you may find as many of us have, you will use it more then you think!
The actual expenses are very cheap between $900-700 a month average.

Army Guy

PALjeneral · 08-01-2009, 09:08 AM

Quote:

Originally Posted by Army Guy

Yes, many do that now.
TV is a great place, you may find as many of us have, you will use it more then you think!
The actual expenses are very cheap between $900-700 a month average.

Army Guy

Thanks for the reply. Do you use a property management service? If so which one?

Army Guy · 08-01-2009, 02:33 PM

Yes, I use Home Watchers run by Ed & Mary Edwards. They are GREAT!!! They are also posters here on TOTV.

Army Guy

Bettiboop · 08-01-2009, 04:05 PM

I asked that question of the The Villages rep we talked to last week when we visited TV. I asked if we bought a home now could we plan on keeping it rented enough to offset the mortgage, or at least a good portion of it. He said on average (from what he has seen) that we could pretty much be assured to keep it rented for 5-6 months of the year with no problem, but there would most likely be months that it was empty in slow season, etc. He said most people find the rental income for those 5-6 months will cover a year's worth of expenses (which he averaged to be around $900.00/mo) but we could not plan on it offsetting the mortgage too.

I'll be interested to see the responses you get here to see what others think, as we are giving some thought to buying prior to actually moving to TV too.

ijusluvit · 08-01-2009, 09:23 PM

For the last five years we have done just what you are thinking of doing. We have had great property managers (which I think is essential) for the last four years, after firing the Villages Property Mgt after the first year. We have never rented our place for less than 7 months of the year and we still do not quite cover annual costs over and above the mortgage. We are not unhappy with that, but be careful not to expect too much, there are many little extra costs when you rent your place.

graciegirl · 08-02-2009, 06:32 AM

If it doesn't cover expenses, than maybe a good alternative would be to wait to buy and to rent when you want to vacation here. There will probably always be a place to buy with as many houses as there are and will be. I spoke to a rep at an open house this week and she said that 95 resales were sold just this last month.

paulandjean · 08-02-2009, 08:00 AM

home sales are going up. new and resale. price increase is already taking place.Certain models of ranch homes are not being built.should buy now.

Army Guy · 08-02-2009, 09:21 AM

I totally agree. When we signed the contract for our CYV in May we got the last of the BIG discounts on them, almost $20,000, plus free upgrades. I have not seen any that large yet.

Army Guy

LisaJ · 08-02-2009, 09:46 AM

We are also looking at the Villages to retire. However, we will not be able to retire for 2-3 years. How much do the villas generally rent for? How much out of pocket costs do you think we will need to pay if we get a mortgage?

golf2140 · 08-02-2009, 02:40 PM

Our sales rep said that there was a price increase, Friday, July 31. It appears that the up swing in housing has started. We placed our home on the market last week, because we settle on our new home in The Villages in October. "Come on down"

hdh1470 · 08-02-2009, 06:39 PM

Wouldn't expect price increases in both new and existing to warrant buying now.friend of mine doing closing for the villages says sale are still flat about the same as they have been

Looking at the Villages

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