Posts from August 4th, 2023
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Compare Stonecrest to The Villages Florida
Living in or near The Villages, Florida is by far the best active retirement destination in Florida. The Villages is not a gate-restricted retirement community, but rather contiguous special purpose municipalities called Community Development Districts (CDDs). While CDDs are unincorporated political subdivisions, they are nonetheless municipalities. Open to the public.
The Villages can overwhelm first-time visitors causing them to make a quick emotional home purchase without seriously considering how they will use the abundance of recreation and commercial amenities, the overall cost and utility of their purchase, and the nearby, more economical alternatives that may provide them jus...
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The Villages Florida Cost of Living
While most fixed and non-discretionary costs of ownership are fairly consistent among the various villages, the annual CDD Bond and Maintenance Assessments can drive the total cost of homeownership up dramatically. For example, a new Designer home in the Village of Hillsborough will cost about $1,797 per year more to own than a comparable pre-owned home north of CR-466 in the Village of Piedmont.
Average Estimated Cost Of Living
While the information provided above was obtained from public records and is deemed reliable, the broker/agent does not guarantee the results as such. Contact the...
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The Villages Florida Bond Assessment
What is the CDD Bond Assessment? The Villages is divided into 14 residential CDDs, three commercial CDDs and two utility independent districts. Their infrastructure is financed through the sale of revenue bonds. The CDD Bond Assessment reflects each lot's proportionate share of the cost of building the infrastructure within its Community Development District or for which its District has responsibility. It is the most equitable method of distributing costs between the properties that benefit from the infrastructure. Infrastructure includes stormwater systems, underground pump stations, water retention areas, curbs, gutters, streetlights, transportation trails, underground piping, etc.
How does a District arrive at the amount? Does everyone pay the same a...
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The Villages Florida Assessments
The Purchase Price for a pre-owned home in The Villages, Florida is the "negotiated listed price," plus the assumption of any remaining CDD bond debt.* In the case of a new home purchase, the total purchase price is the "non-negotiable" listed price, plus any remaining bond debt, state doc stamps ($7 per every $1000 of purchase price), and the cost of title insurance (about 1% of the purchase price). For pre-owned home purchases, doc stamps and title insurance costs are paid by the seller.
CDD Bond Debt amounts vary significantly depending on the home's location. They may be paid off upon closing the sale or during any year. If left unpaid the balance will amortize and the corresponding principle and interest will be collected by the respective county along with property taxes,...
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The Villages Florida Housing Market
The Villages Florida Housing Market
Key Takeaways:
- The housing market is a hot topic right now, and after experiencing rapid growth over the pandemic years it looks to now be slowing down.
- Experts are expecting real estate values to fall over the next 12 to 18 months, before they stabilize and then eventually recover.
- There are buying opportunities, nonetheless, that will make your dream home affordable.
For many people, buying a home is the single largest purchase they're ever going to make. It makes sense to want to get it right. So, what will the property market look like over the next couple of years? Record high mortgage rates are putting pressure on property prices. After a period of record low interest rates, we'...
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