How high are Bonds in the Villages Florida

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How high are Bonds in the Villages Florida | Cost Impact

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Күн бұрын

What I learned when making a budget to live in the Villages Florida. Bonds are rising and may affect your decision when adding up your costs. The bond is a unique item for most moving to the Villages.
Budget Spreadsheet/Calculator Video - • Can you afford to Reti...
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See you in the Villages!
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Пікірлер: 68

@colleenb.873 11 ай бұрын

I don't get a good feeling about where TV is going. Prices everywhere have gone up that's true. But these homes are overpriced regardless of the amenities offerred. I can buy just outside TV for $150k less (and get a larger home). I don't want to have to work in retirement just to afford a home. Thanks for the info and all your work!

@fierceflyer5 11 ай бұрын

Gary, great video showing that the bonds greatly impact the cost of living in the villages now. Used to be able to buy a 3 bed 3 bath in the high $200k with $15k-$20k bond now that house is selling used for over $500k. The time of living there for $35k a year is gone. 😢

@noreenn6976 10 ай бұрын

$200k will get you a manufactured home in TV nowadays 😢

@frankclark717 11 ай бұрын

Yikes we were moving to the villages however with property taxes, insurance costs, bonds and etc and we are not one of those with a pile of money. We are rethinking the move to TV. Great information and videos thanks

@samsacre 11 ай бұрын

Here in the Midwest developers, pay for infrastructure! I've had family members that moved out there...they have since moved on bond payments are just the tip of the iceberg! Don't get me wrong I can afford it… I work too hard for my money for 40 years! Watch Skip Smith the villages he tells it the way it!! They're starting to build too many multi unit apartments around edges now in my opinion among other things!

@noreenn6976 10 ай бұрын

Check the areas that have low or no bonds. Patio Villas are nice and prices have come down a bit recently, from what I've observed.

@rethinkcps2116 3 ай бұрын

@@noreenn6976 - in Dabney & Moultrie the smallest patio villa [1BR/1BA] has a $25k bond. 😐

@DNAleguillou Ай бұрын

Bonds are very high in the newer subdivisions, the new construction. 30-50k now

@markryan3124 11 ай бұрын

Thanks for another great video Gary! We looked at a new house in Newell ($365k) in May and the bond was $43k. Looking at the large number of homes still available in Lake Denham, higher Lake County taxes, large bonds, etc., I understand why so many are still available in that particular village and appear to be moving fairly slow.

@lauralampe1664 11 ай бұрын

The developer just bought another 3,200 acres of land in Leesburg, so that is probably Lake County. I would think that at least part of that land will be new homes. I also wonder if the new home sales in the Lake County portion of The Villages are going to slow down as the bond prices keep increasing?

@danacaro-herman3530 11 ай бұрын

@@lauralampe1664I see you post on some other villages you tube videos. Do you live in The Villages?

@stevemayes2476 11 ай бұрын

Thanks. You are a wealth of information. Thanks for working so hard and doing your homework. I have been researching the Villages for 5 years and feel I still need more information!

@GaryAbbott 11 ай бұрын

Not sure you ever know everything about the Villages even after you live here. Still a great place to retire.

@laurab2141 11 ай бұрын

We’re excited to be going on our lifestyle visit this upcoming weekend! 🎉After searching TV website listings and MLS listings and watching hour after hour of KZfaq videos from Villagers and realtors, we changed from being sure that we only wanted a new home to being sure that we only want a pre-owned home. Between the possibility of having little or no bond and the much lower taxes in Sumter County, a pre-owned home makes a lot more financial sense for us. Thank you so much for the hours and hours of work you put into your videos, I’ve gotten so much valuable insight from them.

@GaryAbbott 11 ай бұрын

Have fun with your visit. When you start looking to purchase I wouldn’t let whether it has a bond or not be the primary driver but something to plug into your budget and see what works for what you get. A new home was something I really wanted when looking as new homes have all new equipment that can be more efficient, etc.

@flybirds2024 10 ай бұрын

Yea the bonds are much lower in many Villages in Sumter County, I purchased a 1850SF 3 bedroom Court Yard Villa for $385K in January 2022 and my bond was on $17K!

@lauralampe1664 11 ай бұрын

I guess one has to do a side by side comparison of how much will it cost to live in my current area vs. moving to The Villages. Or how much will it cost to buy a new home in The Villages vs. another 55+ community. Is The Villages "lifestyle" worth it? If someone is relocating from a high cost of living state, moving to The Villages might not be a financial stretch. One really has to run the numbers before deciding.

@lindajohnson. 11 ай бұрын

Gary, The Villages are so expensive! That bond is very high plus the other fees. We pay $209.00 month POA dues $637.50 cart fee, yearly MUD tax ( ridiculous) around $800.00 year. Big problem with water here. This tax is based on the price of your home. We have been here 18 years and our home is less. $200.00 water base per month. yikes! We still find with the cost here it is the best for us. The Villages are for large retirements, 401k’s or inheritances.😢😢😢😢 Thanks for the info.

@GaryAbbott 11 ай бұрын

I think the point I got from your comment is you have been here 18 years and it is still the place for you. I hope to say the same thing many years from now.

@lindajohnson. 11 ай бұрын

@@GaryAbbott we live in East Texas and have been here 18 years. Guess, I was not clear. I just enjoy watching different areas .

@ldhawthorne 11 ай бұрын

Thanks for the info, Gary! Even with a pretty sizeable 401k, this certainly makes me re-evaluate whether I should stop working once down there. Might be worth continuing to do so just to help with health insurance. Appreciate all of your hard work keeping us informed!

@larryfitzgerald5832 11 ай бұрын

In Richmond village we were lucky to get a CDD #13 bond interest rate of 3.18%, while in Lake County District 14 (Newell to Dabny) they are looking at 5.47%. Another bond cost discrepancy is the cost within a specific unit. We are in Unit 104 where the bond cost is $38,122, but the sale prices of the homes range from about $350-900K. So, in all developments, it looks like the lower cost, interior lots pay a much higher relative cost in carrying these bonds. High TV bond costs look to be nothing new. If you go back to a 2014 village around the Hillsborough-Lake Deaton area, you can find a $270K designer home with a bond of $20K. The current listing for this home is $520K, so someone considering purchasing this home vs. a comparable $$$ Newell would save >50% on the bond annual payment and the balance payoff due is $28K (Hillsborough) vs. $91K (Newell). Something for new TV home shoppers to think about.

@rethinkcps2116 3 ай бұрын

@larry - 🎯

@DisMindy5767 11 ай бұрын

Thank you Gary! Very informative! My husband has been asking me what the bonds are for the new homes. Looking for a part time home right now, so patio villa. I will try to find that on the website. The budget is a little different for a part time home because the normal living expenses of health insurance, out of pocket, dining, entertainment, groceries, you're going to have just in life. So you're buying groceries, eating out, paying for your health insurance etc in just one place, not both at the same time. But if you have lawn care, it'll be in both places. Pest control will be in both places. That's a different comparison. Thanks for all your hard work on this. It definitely gives us food for thought.

@rethinkcps2116 3 ай бұрын

Great channel & excellent analysis...

@GaryAbbott 3 ай бұрын

Thanks and welcome

@RICHARD-ov8nw 8 ай бұрын

Thankfully for your help

@GaryAbbott 8 ай бұрын

Your welcome.

@davidfrediani4965 11 ай бұрын

Thanks for the video. I just did a lifestyle visit and decided that the bond is a deal breaker. My Villages sales agent was the worst I have ever met in my life! I'm buying in another community with no bonds and a sales agent that treated me like a human!

@GaryAbbott 11 ай бұрын

Sorry to hear that. Be glad to give you my sales agent in the Villages who was excellent if you decide to check it out again.

@davidfrediani4965 11 ай бұрын

Thank you. I may consider that. @@GaryAbbott

@dianec6410 11 ай бұрын

Great info, maybe if you really want to move to TV- need to look at older existing homes with smaller bonds or no bond if possible.

@GaryAbbott 11 ай бұрын

Hi Diane, Many say the same thing but I have found the older homes run 30k to 40K more than new which might offset the bond on a new home. That’s what happen to me so I bought new.

@GaryWinkel-ne5sp 11 ай бұрын

Leans me towards a preowned Topaz or Emerald Patio Villa

@lisasindoniliberio426 11 ай бұрын

Ive been looking at the bonds too and all the costs as we are planning to move there in the spring. I am getting anxiety. I will definitely have to work while i am there which i am not excited about. Could live right outside the villages for cheaper but i dont think it will be the same.

@GaryAbbott 11 ай бұрын

Hi Lisa, I struggled with making this video as it as not as positive as usual but I wanted buyers to get the whole picture. At the same time, if you were to go to another community the homes are usually higher priced and the HOA is more. I’m still happy with the purchase.

@lauralampe1664 11 ай бұрын

@@GaryAbbottI appreciate the honesty and facts of this video on the bonds & the previous video on budgeting and cost of living in The Villages, especially as a single person. The Bank of Laura doesn't have unlimited funds, and finding out the expenses of my potential new home before I make a 1,200 mile move is very important.

@ccgaskell 11 ай бұрын

I know most people steer you away from paying off the Bond up front, and I get it, but at 5.47% interest, it might just make sense, if you have the money, to avoid paying that equivalent of a second bond, in interest. Hard to make 5.47% in this economy if you did invest it. Thanks for sharing your info and where to find stuff, and I learned TV has an app, so will check that out. We are tentatively planning a LSV in March, once they open up for reservations. Thanks

@GaryAbbott 11 ай бұрын

I think once you decide on your property and you are going to stay in that property, I would pay it off to save the interest and admin costs.

@user-nl5pb3jc5v 8 ай бұрын

Thank you Gary, I thought this was going to be the place for us, after watching this about the bonds we may have to pass and look elsewhere, these prices are absurd. Can u send me your spreadsheet?

@GaryAbbott 8 ай бұрын

Thanks for watching the video. To get the spreadsheet follow the instructions in the description of the video. Thanks.

@napervillerealestatelifewi5148 11 ай бұрын

Great video Gary. The bond is a real drag. Would it be worth paying it off if you could afford it, if you purchased a new home? It looks like the homes in the newer areas just sitting.

@GaryAbbott 10 ай бұрын

Sorry for the delay in getting back to you. I think if you can pay cash for the house and bond that would be the best financial move. I don’t think houses are just sitting as a number of my viewers appear to be buying in Dabney which I thought would be very difficult to sell as it is about 2 miles from the nearest entertainment center (Sawgrass) and that won’t improve with future expansion.

@napervillerealestatelifewi5148 10 ай бұрын

@@GaryAbbott that area is too remote at least for now. I am thinking about the areas around Estport when they open up.

@dr.jamesmichaelharthcock5654 11 ай бұрын

Hello Gary. Great informational presentation. My wife and I were planning to sell our Texas property and move to the Villages BUT we are now thinking it would be better for us to locate outside the Villages and avoid all the fees, bonds, etc. Thanks for the information.

@GaryAbbott 11 ай бұрын

Don’t let the fees and bonds get you down. When you compare all of it added up it is less expensive than the major competing 55+ communities and none of them have the activities, golf cart network and feel the Villages have. The average home in the Villages is around $400k compared to a similar village in Sarasota where the average home is $600K that has a town square etc. Same for margaritaville. Hope this helps.

@samsacre 11 ай бұрын

That's probably a good move, but you won't get the amenities the villages have to offer and that's what most people have stars in their eyes about!

@markmiller3145 2 ай бұрын

Style of home......villa, designer.....doesn't change the bond amount....all homes in a district will be the same bond amount.

@GaryAbbott 2 ай бұрын

I think you will find in the villages all the homes in a district do not pay the same. Many factors like lot size, village not the district, and what went into the infrastructure of each section. I did another video on just how to look up bonds on new properties as they vary within each area.

@lauralampe1664 11 ай бұрын

I just checked, and I did not win yesterday's Powerball lottery, so unless I win the lottery in the next year, if I do decide to buy a home in The Villages, it will be a preowned home with no bond, bond already paid or a low bond balance left. On those preowned homes, one has to watch the age of the roof and the A/C. As the bond prices keep creeping up, is that going to impact the rate of sales of new homes by the Developer? The Developer just purchased another 3,200 acres in Leesburg, next to property already owned by The Villages; I would imagine more new homes are planned for that area at some point. At some point are bond amounts going to be a deal breaker for most people who want a new home in The Villages? I guess time will tell.

@drtomdrabczyk 11 ай бұрын

We close on a designer house (Spoonbill) in Lake Denham on October 10th. Our bond is going to be $45,333.88.

@GaryAbbott 11 ай бұрын

Congratulations on your new home! See you in the Villages.

@unschool3376 11 ай бұрын

Yikes. We had penciled in $40k for our bond when building in Moultrie Creek. Wouldn’t be surprised if it’s quite a bit more, now. :-P

@GaryAbbott 11 ай бұрын

I wonder if construction costs are higher in Lake County than in Sumter?

@unschool3376 11 ай бұрын

@@GaryAbbott Their property taxes are the highest.

@kjisnot 11 ай бұрын

Does anyone have a clue as to who gets the interest on those bonds? Just wondering.

@GaryAbbott 11 ай бұрын

I believe that would be whoever fronted the money to build the area.

@user-sw2sv4nt3w 11 ай бұрын

Hi Gary, can you payoff the bond early without penalty to avoid the interest and administration payments?

@PietrinaBravata 10 ай бұрын

I think you can pay off the bond at any time without a penalty but I would check with The Villages sales office to be sure.

@flybirds2024 10 ай бұрын

Yes, each year you have the option to pay off the bond without any interest or penalty.

@LorieHastings 2 ай бұрын

Do you allow access to your spreadsheet? If you do share it, how do I find it?

@GaryAbbott 2 ай бұрын

Hi Lorie, I did a two video’s regarding developing a budget. In the video description I give how to request it. To see the video description use a laptop or mobile device to see it. Look froward to sending it to you.