[Coltsgirl]

This is my first time posting, I have been reading these boards but still have questions on what is the difference between annual maintenance fees, amenity fees and the bond? I am retiring at the end of this month and my husband and I hope to be moving to TV within the next year but are really perplexed about all the different fees since we will be on a fixed income. Still not sure whether to buy new or resale, so many different decisions. I really enjoy reading all the posts on here I have gained so much knowledge. Thanks to all.

[Bogie Shooter]

Originally Posted by Coltsgirl

This is my first time posting, I have been reading these boards but still have questions on what is the difference between annual maintenance fees, amenity fees and the bond? I am retiring at the end of this month and my husband and I hope to be moving to TV within the next year but are really perplexed about all the different fees since we will be on a fixed income. Still not sure whether to buy new or resale, so many different decisions. I really enjoy reading all the posts on here I have gained so much knowledge. Thanks to all.

Try looking at the "Nuts and Bolts section of this site, it has a lot of information.

[bkcunningham1]

Nuts and Bolts has great info. It is near the bottom of the main Talk of the Villages page. Also, welcome to the forum. I hope you stick around and post more questions and answers. Look over the Nuts and Bolts and if you have any additional questions; ask away. Again, welcome!

[Coltsgirl]

Thanks, the nuts and bolts talks about amenity fees and then the bond fees. I see on listings by realtors outside the villages most are posted with maintenance fees usually anywhere from $400 to $600 and the annual bond. I thought the $135 that is in all the brochures from TV is the ammenity fee. Just a little confused on are there really 3 different fees that could be in play here, ammenity, maint and bond?

We are hoping to do the Lifestyle visit in August/Sept, am just trying to understand all the fees, those seem to scare my husband when he keeps seeing different fees than just the $135 ammenity.

[bkcunningham1]

I have no idea about the additional maintenance fee. I live on the historic side in a preowned home and we don't have a bond or a maintenance fee. We pay the monthly amenity fee, which, btw, is billed on the same invoice as our water and sewer fee.

Maybe somebody else can answer that one for you. I have never heard of the maintenance fee.

[downeaster]

The monthly amenity fee pays for the amenities. Executive golf, rec centers, swimming pools, etc.

The annual maintenance fee is for maintaining the "grounds" or sometimes referred to a common areas. Mowing, irrigating, flower beds, etc.

The bond may be described as debt incurred in order to pay for so called horizontal improvements. Roads, water, sewage, gas, electric, etc. In a normal subdivision, the developer goes to a lending institution (bank) and borrows the money to prepare the site for building. He then sells lots to builders and his costs associated with the loan are included in the purchase price. That is passed on to the home buyer and included in the advertised price of the home. For reasons open to much discussion, the developer of The Villages does not include the buyer's share of the bond in the advertised purchase price. The buyer's share, plus interest, is handled separately in the form of a annual obligation which may be paid off in lump sum.

That's it in a nutshell. I would advise discussing this in detail with your sales rep when you come down for your visit.

[rjm1cc]

Consider the bond as part of the cost of the house. You will pay it just like you would a mortgage. Like a mortgage you can pay it off (and thus a resale could have the bond paid off) or pay over time. The bonds cover the costs of improving the site - roads etc. I think in most parts of the US these costs are just added to the swelling price of the house.

[EdV]

Originally Posted by downeaster

....For reasons open to much discussion, the developer of The Villages does not include the buyer's share of the bond in the advertised purchase price....

I believe that most, if not all, of the (over 600) developments in Florida that are organized under the Florida Community Development District (CDD) laws do this also. I don’t like it because it gives the impression of false advertising.

So that new home in TV advertized for $160k will end up costing $180k or so. With a pre-owned home, the age of the home will dictate the bond balance with a home built in 1995 probably having a bond balance of only a few thousand dollars. Also, as noted previously the mostly modular homes in the historic section of TV (east side of 441) don’t have any bonds.

[Coltsgirl]

Downeaster, thank you so much, I think you clarified that perfectly.

[edwardt6]

Nothing in Lake County has a BOND

[GatorFan]

Consider a resale. Many have already paid the bonds in full.