Hey Robin, as long as you’re on the topic of taxes and cost of owning a property in The Villages, can you do a video on what to expect with the cost of homeowners insurance? Are the costs rising a lot in The Villages like they are in other parts of Florida and other states?
Why wouldn’t the bond being paid in full on a property not add value to it when you sell it? That is money that the next owner wouldn’t have to pay it if it had a balance?
Thanks for the discussion concerning bonds. In the beginning, I was fairly certain that I wanted to only look at new homes for sale, but after factoring in the bonds and extra taxes (by the new home jurisdictions) I am certainly re-thinking that approach.
My family lives in AZ- and I always hoped we would move there. But they have same boom growth that FL does. I cannot find nearly as much info about AZ over 55 in AZ.
Good job on the video, maybe you can do one about what buyers are looking for if you are a seller thinking about listing. No carpet etc. I think that would be very interesting… keep up the good work!
New Subscriber :) Robyn how would a small home developement work out for an option? So prefab and basic as can be and in the size of 800 to 1200 sq ft?
The way my Villager resident friend explained it to me, the deed restrictions are the "rules" regarding the exterior appearance of your home & yard/landscaping. For example, no cars up on blocks in your yard. Robyn can also give a good explanation as she lives in The Villages.
If you're purchasing new, is the bond listed on a vacant lot? Do you know what the bond would be before building or do you have to wait until you pick a model?
The bond is what you pay to have the infrastructure put in to the development that you live in which includes water, sewer, powerlines, curving building, the rec centers, building the mail, centers, the pool, etc.
II have mixed feelings on bonds. I wish builders would just include development costs in the prices of homes or at least be forced to publicize the bond amounts when advertising. I guess in a broader picture it may help insure money is available to finish projects rather than leave subdivisions half done in a developer runs out of money or customers.
Ok, I have a question. Under each district, there's a list of units. Most I noticed ended with V. Ex 40V. Is that unit an entire street or block is similar homes? Is not a single address right? Also, when you said the interest rate wasn't shown, it was right under your cursor! Instead of being at the top left over the table, it was on the right, under the table, to the right of the summary.
What confuses people about the bond is everywhere else in the world a bond is an investment that generates a predetermined rate of income until it's expired or called. Whereas in The Villages the bond is really an assessment (or fee) that's used to pay for infrastructure that would normally be covered by local income and property taxes. I suppose bond is a less painful word than fee. But forget that what's the deal with Florida homeowners insurance? All I read is 40% rate hikes, canceled policies, bankrupt insurers, languishing claim settlements and new fees. Is central Florida immune? Are realtors trying to ignore it or am I simply misled? 🤷
There isnt much we can do about it and its a case by case basis. If the roof is old you will have a problem getting insurance or the roof needs to be replaced.
I'm not sure what you mean by Realtors are trying to ignore or mislead buyers. We indicate in our summary the age of the roof. Sorry but Realtors have not control over homeowners insurance. I think you may want to contact an insurance broker for a more indepth discussion.
@@Robyncavallaro That so called CDD is taking the place for what a HOA usually pays for. Most places what the Villages refers to as the bond is usually the CDD so it’s just a fancy way that they can advertise that there is no HOA faking people out that they are saving money. LOL. You have to pay one way or another. The biggest pitfall is that it’s not a gated community.
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Hey Robin, as long as you’re on the topic of taxes and cost of owning a property in The Villages, can you do a video on what to expect with the cost of homeowners insurance? Are the costs rising a lot in The Villages like they are in other parts of Florida and other states?
I have to get with an insurance agent for that topic. Still search for a willing partner.
I would also be very interested in this topic. I have heard some not very good news on this topic.
This is very important information for new homeowners. This was a great explanation so buyers are not blindsided. Keep up the good work.
Thank you
Good that you speaking of the Bond. One of the reasons the Villages has nice sidewalks, and curbs, is the Bond.
That's true!
When I visited The Villages last month I went to 2 open houses in the Village of Newell. On both patio villas the bond was just over $23K.
WOW!!!
Extremely interesting information and very necessary.
Happy to hear you found it helpful
Why wouldn’t the bond being paid in full on a property not add value to it when you sell it? That is money that the next owner wouldn’t have to pay it if it had a balance?
Excellent video. Thank you Robyn!
Thank you
Thanks for the discussion concerning bonds. In the beginning, I was fairly certain that I wanted to only look at new homes for sale, but after factoring in the bonds and extra taxes (by the new home jurisdictions) I am certainly re-thinking that approach.
My best advice is to keep your options open 😎
Thanks! Another great video on an important topic to know about before purchasing in The Villages.
Glad it was helpful!
This is super helpful! It calms me down knowing that I don’t have to pay it all up front. Thank you!!!! 🎉🎉
You are so welcome!
My family lives in AZ- and I always hoped we would move there. But they have same boom growth that FL does. I cannot find nearly as much info about AZ over 55 in AZ.
Thanks for watching
Good job on the video, maybe you can do one about what buyers are looking for if you are a seller thinking about listing. No carpet etc. I think that would be very interesting… keep up the good work!
Great suggestion!
New Subscriber :) Robyn how would a small home developement work out for an option? So prefab and basic as can be and in the size of 800 to 1200 sq ft?
Thanks for subscribing but not sure what you are asking. Please email or call me
Are deed restrictions like CCRC’s in a regular HOA? Thank you!!!
The way my Villager resident friend explained it to me, the deed restrictions are the "rules" regarding the exterior appearance of your home & yard/landscaping. For example, no cars up on blocks in your yard. Robyn can also give a good explanation as she lives in The Villages.
You are correct.
If you're purchasing new, is the bond listed on a vacant lot? Do you know what the bond would be before building or do you have to wait until you pick a model?
The VLS sales associate will know the bond on each property in the new section. If you know the area you can look it up on districtgov.org
Thanks Robyn
You are so welcome!
Do you list the county websites on your website?
I must’ve missed the part where you explained what a bond is. I live in Tennessee and I’ve never heard of a bond before what is that?
The bond is what you pay to have the infrastructure put in to the development that you live in which includes water, sewer, powerlines, curving building, the rec centers, building the mail, centers, the pool, etc.
II have mixed feelings on bonds. I wish builders would just include development costs in the prices of homes or at least be forced to publicize the bond amounts when advertising. I guess in a broader picture it may help insure money is available to finish projects rather than leave subdivisions half done in a developer runs out of money or customers.
On the bright side the bond transfers with the home.
This is what I know to be Mello Roos in CA.
robyn it sucks both ways if you payoff bond early you save on interest but if you sell 5 years down the line you thru money away
Thanks for sharing your opinion
Helpful information, thank you Robyn.
Glad it was helpful!
Ok, I have a question. Under each district, there's a list of units. Most I noticed ended with V. Ex 40V. Is that unit an entire street or block is similar homes? Is not a single address right? Also, when you said the interest rate wasn't shown, it was right under your cursor! Instead of being at the top left over the table, it was on the right, under the table, to the right of the summary.
I cannot say about the V but the 40 is the home
What confuses people about the bond is everywhere else in the world a bond is an investment that generates a predetermined rate of income until it's expired or called.
Whereas in The Villages the bond is really an assessment (or fee) that's used to pay for infrastructure that would normally be covered by local income and property taxes. I suppose bond is a less painful word than fee.
But forget that what's the deal with Florida homeowners insurance? All I read is 40% rate hikes, canceled policies, bankrupt insurers, languishing claim settlements and new fees. Is central Florida immune? Are realtors trying to ignore it or am I simply misled? 🤷
There isnt much we can do about it and its a case by case basis. If the roof is old you will have a problem getting insurance or the roof needs to be replaced.
@@Robyncavallaro Unfortunately you did not really answer the question.
I'm not sure what you mean by Realtors are trying to ignore or mislead buyers. We indicate in our summary the age of the roof. Sorry but Realtors have not control over homeowners insurance. I think you may want to contact an insurance broker for a more indepth discussion.
What is the difference between the bond and the CDD? It sounds like double dipping to me.
The CDD pays to take care of all the common areas in the District. The bond pays to develope the rec centers, pools, mail stations, etc
@@Robyncavallaro That so called CDD is taking the place for what a HOA usually pays for. Most places what the Villages refers to as the bond is usually the CDD so it’s just a fancy way that they can advertise that there is no HOA faking people out that they are saving money. LOL. You have to pay one way or another. The biggest pitfall is that it’s not a gated community.
Bond + administration fee?… they have figured out how to take your money in every possible way VILLAGES 👎👎👎