How to Purchase in the Villages in 2024
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- Опубліковано 15 чер 2024
- Here are the steps and video’s I recommend to be ready to Purchase a Home in The Villages.
Step 1 - Search for a home in the Villages on Zillow.com, Realtor.com and theVillages.com.
Step 2- Know your budget
Can you afford to Retire video with Budget Calculator - • Can you afford to Reti...
Older video “Can you afford to Retire - • Can you afford to Reti...
Step 3 - All about understanding the bond
How High are the new Bonds - • How high are Bonds in ...
Do I pay off the Bond? - • Do I payoff the Bond? ...
Step 4 - Selecting your style of home, lot size, and location. Do you want to be near a recreation center, town square, pool, etc. Feel free to look at the following maps to see what your future home is near.
The Villages has a map here on villages.com website- www.thevillages.com/map/
If you are interested in viewing the Villages maps by William Vayens go to vayens.com/maps
William does ask for permission to use the maps for social media, etc. Thanks Bill for allowing me to use your map. If you are unable to get access through this website, try Don Wiley who provides the maps on his website www.goldwingnut.com/villages-map
Previous How to Purchasing video done two years ago. - • The Villages - How to ...
If you found this video and the links helpful please consider purchasing me a cup of coffee through this link. - bmc.link/garyabbott or use the Super Thanks button under the video.
See you in the Villages! Gary
Gary, you just did the most in-depth video I’ve seen on how to buy at TV. Fantastic!!
Thanks, today is clearly a buyers market but the big issue for buyers is the interest rate.
Thanks Gary for keeping it real!
Thank you for this information!
My pleasure!
Good job Gary.
Excellent video; thanks
Glad you liked it!
Thank you Gary, I always look forward to your videos, you always have great information! I'm currently using your budget spreadsheet so when we are ready to purchase in TV I know what to expect.
Fantastic! I really think the budget spreadsheet is the best tool for those looking to retire.
The newer homes are further away from shopping, especially the grocery store, were you spend most time in, trust me. They're further from squares except for Sawgrass which is the smallest venue and the villages try to sell you the new homes making you think you want to be near a square when reality that's not what you want, you want to be near a grocery store and the most important thing, new construction have high high bonds 30k-50k which is outrageous , very little yard, way closer to the neighbors and way further from anywhere, plus they don't give you a washer or dryer or nicerr fixtures and some are in lake county which is more expensive as far as taxes go
I agree the initial bonds are on the rise but after three years of living south of 44 I don’t find shopping all that far in almost any direction. You can drive to a grocery store in under 10 minutes in at least three different directions. Now big box stores on 441 are a ways away but I don’t want to be near there. I personally don’t buy all that much any more and definitely don’t want my wife near there either. :)
We all spend more time at Publix than at a freaking square
I have two Publix stores only 10 minutes or so by golf cart either at Magnolia plaza or Lake Denham plaza. Neither is at a square as I live in Citrus Grove.
Gary ..Thank You for all the Links in the Description Section... !!! Looks like I will be Busy for a While ... I Enjoy your Videos !!! Much Appreciated 👏
Enjoy!
Hi Gary. Your videos are always informative and the info is applicable in any community.
Glad you think so!
Hey Gary thanks for all the great information, my wife and I bought a new home in Moultrie Creek. We close July 9 until then we are staying with friends here in the villages. We also Having a golf car built for us didn’t expect to spend that much but we did!!
Congratulations on your new home and golf cart. Thanks for watching.
David, re your golf cart, gas or electric and which dealer ? we will soon be in Shady Brook
Comment.....We just visited 6-5-24 through 6-12-24 for the second summer and stayed in between spanish springs and lake sumpter and you can not beat that location. Matter of fact if you can find an empty lot in the orange blossom neighborhood I would suggest building there if you just have to have a new home.
Like I have said before, not sure there is a bad village in the Villages. So much to choose from.
Comment.....Prices are coming down.....and will continue to come down.
It took me a couple of days to see if prices are coming down. So the best way for me to check this stat was to look at the prices of a specific style of home and compare to what they were three years ago when I was purchasing. So I looked at cottage homes and designer homes both new & preowned. Prices on a cottage home was $300K new in 2021 are now $370k to $430k. So I don’t think they are coming down at least not yet. Very similar in the Designer home category. Seems like homes go up $20 to $35K per year. I did this my first year and my house went up in this exact range so I’m just not seeing it, if you do the comparison like I did. I know this is not the sold price but I don’t hear of any being sold for less than the original build price.
@@GaryAbbott The prices are coming down from what they now......the Villages website that sell houses are even showing discounts. They may not be at 2021 price levels but they are on the way there, that is what mean. I have Ira Miller sending me all of the MLS homes for sale in the villages and lots of those have had price decrease. Homes are sitting longer and longer before they sell and the prices are coming down. The housing market is headed for a crash. What's going on right now is not sustainable. There are over 355 homes for sale north of 466A in the Villages and these are just MLS listings, that does not include FSBO or the ones the Villages agents are selling. There are over 113 homes for sale south of 466A in the Villages and these are just MLS listings, that does not include FSBO or the ones the Villages agents are selling. I have seen so many price decreases it's not funny. You can find some of the same homes that are 5 years old selling for more than the same type/style homes that the Villages are selling new. If you can be patient and wait to buy a home you will save more money because prices are coming down, not to mention the number of foreclosures are on the rise as well. If you are a cash buyer you will come out smelling like a rose.
Best place ever…SOOOOO clean, people are so nice…day or night..there is a pride in ownership here.
Couldn't agree more!
Your videos are very informative! thanks! We are looking to purchase in the villages and wonder if there are any flood zones or areas that are prone to sink holes within The Villages?
I have been told some of the new area’s around Eastport are in a flood zone which may require Federal Flood insurance. Sink holes are uncommon but in the last three years of me being here I have seen two reported that were in the roadway. They can happen but rare.
@@GaryAbbott thanks so much!
I've heard The Villages does not negotiate on the price of inventory/finished homes? Thanks for the great info.
You are correct. Thanks for watching.
Hi Gary. I always enjoy your videos. They are short and directly to the point. I am bit confused about the timing of getting a MLS and a TV realtor. If we wanted to see a new house, I understand we can only have a TV realtor. If this correct? Then who looks out for your best interests? If you look at an MLS listing, you should have a TV and MLS realtor. Correct? Thank you for the info you provide. 🙋🏻♀️
I think you pretty much have it right. I wouldn’t worry about timing. On my first visit I just went to a Villages sales office and asked a lot of question about areas, etc.. Everyday their are open houses both new and preowned which are listed on the Villages website (this way you will meet a lot of agents to select later). Then when you are ready or closer to purchasing then pick an MLS realtor and a Villages agent that will look for you. They both want you to buy so it’s best for you to look out for your best interest. Hope this helps. Thanks for watching and if you want my Villages agent just let me know. She did a good job for us.
@@GaryAbbott thank you Gary!! Great information.
@@GaryAbbottHi Gary. Can you suggest an MlLS realtor? Thank you. 🙋🏻♀️
Thanks for a great video. When looking for a realtor are there some MLS agents that work with VLS
Not really. Now I have heard some MLS realtors will go with you to a VLS listing but they don’t work together. It’s a good idea to have two separately looking out for you.
Hi. You can get more than 1 life style visit. In fact, many go for 2 or 3. To help decide to move to TV, and then which village. It is very understandable that takes more than 1 week to decide. It is a very big investment. I do not want to move 3 times. You should never rush this decision. Location is the number 1 decision. They will only give you extras like show tickets only once.
Absolutely. Look up Ira Miller (search for "Ira Miller The Villages, FL", or "IM Realty The Villages, FL") - he worked for The Villages for 9 years, then the MLS side for years, so he knows the specifics from both sides.
Thanks
@@christigallup2175 My pleasure.
Hi Gary, is it quicker to get around in a gold cart? I am hoping to move in another 3 years. Hoping that I can find a home that is connected to a shopping center that is accessible by golf cart. Not sure I would need one if that is not possible.
Quicker? As I’m retired not sure quicker is an important factor any more. Clearly you should do a lifestyle visit when you get closer to buying to see how it is with a golf cart. Let me know if you get a gold cart?
It's definitely "quicker" in your car! Really, doing 20mph in a golf-car will take quite a while to go any serious distance, but then I (personally) wouldn't be in any hurry -- I'd enjoy the ride/scenery there & back so for me my golf-car would be the PREFERRED way to travel within "The Bubble." Would only use my vehicle for outside trips I'd need to make (which likely would be almost as rare as hen's teeth).
-- BR
Not a fan of the vinyl siding at all. What price point do you start seeing stucco exteriors?
Usually stucco homes run about 20 to 30 thousand more than wood frame homes. The newer trend is they are building a lot more precast concrete wall tilt up homes.
Ok, thanks will look that up not familiar.
With new construction are the backyards already landscaped or do you need to budget for rhis extra expense after closing?
The homes are completely landscaped front, sides and back when you purchase. Nothing to budget unless you want to change or add landscaping.
Thank you!
Any idea if they’re going to lower the the commission since the law is changing in July? And if the commission is negotiable? 6 % these days is too high for a buyer to pay
Buyer doesn’t pay in either case. Currently only the seller pays which they can negotiate in the future.
What law are you referring to? Is the commission going down in July? What will it be with the new law?
@@nf2885 seller only pays 3.5% the buyer has to pay the other
They allow 2 life style visits. My brother in law just purchased a house and the realtor tried to get him a 3rd and they said no.
I think you will find that this year they are cracking down so it will be hard to get a second lifestyle visit. My Villages agent filled me in on this last month.
In March our village’s realtor said we were not eligible for a second visit.
There are no more second life style visits. Only one.
Why are so many homes for sale?
Comment.....The villages are now selling new homes for less than used homes.
It is not necessary to begin each of your many comments with "Comment".
When I purchased in 2021, new homes were less than preowned but you could be waiting a year or two for all the pools and recreation areas to be completed. I think this has always been the case when comparing and keep in mind new homes have to be built to the latest building codes. Now some of this is because of location, location, location because everyone wants to be near some areas that are already built so homes have that premium built in. Just search around Lake Sumter and those homes are at a premium.
Please check the pronunciation of realtor. It is not realator.
😂
Hey Gary. Enjoy your videos! Question: can you list a few benefits for why a homeowner should pay off a bond rather than carrying the bond for the duration? Other than saving interest costs? Thanks!
I'm not Gary, but here are things to consider. If you know you will be living or owning the home for the duration of the bond (20 or 30 yrs) and you can afford the one-time payment, it makes financial sense to pay-off the bond if the bond interest rate is higher than stable investment rates (i.e. can you earn more interest on the cash you would use to pay the bond) From the buyer perspective, I would prefer the home I'm purchasing to not have paid off the bond if the bond interest rate was below the current mortgage rate if I were getting a mortgage for the purchase. For example, exiting homes build in the last 5 years all had bond interest rates in the 3% range. These home when reselling often incorporate some part of the bond into the home price as expected. This would mean I would be paying double the interest (i.e. 6% current rate) for that incorporated bond value in the home price. (ironically, people overlook the fact that buyers are already paying interest on the 6% agent commissions, but that's another story) I believe there is really little value in paying off the bond. I believe its more of what one is used to. I live in California and we have a similar "bond" practice, so its an expected cost when buying a home. I think for folks would live in areas that do not have these practices it feels like an extra tax. I view it similar to the airline industry where they get to advertise lower fares, but when you buy your ticket you realize all the add-ons for luggage, meals, etc. For the Villages you can view the bond information to see the interest rate and the breakout of principle and interest in the payments. Typically are interest rates at of above 5% the interest amount over the 30 year period equals the principle amount (i.e. a $30k bond will cost your $60k over 30 years). You need to decide if this is beneficial to you.
The only thing I would add to Michael response is there is also an annual administration fee. in the description of this video I did put a link to my video on this very question. Thanks for watching.
I have been looking into The Villages for 6 months now, and planning to move there. This video is by far the most informative one I have seen. Thanks Gary!
Glad it was helpful!
Why are so many homes for sale?
Hi David, I made a video to answer your question. I just posted it today. Thanks for the idea.
@@GaryAbbott Hi Gary. Thanks so much for making a great video and answering my question. My wife and I will be visiting TV in October and we hope to get the opportunity to meet you. I believe we have your email address so we will be in touch. God bless. Dave