Good place for over 55 crowd

[Caladium]

Originally Posted by cricketfan

It's all semantics, Caladium. My HOA fee is $50 a year.

I know, it's just a matter of getting used to a new place.

[EricBoyd]

Originally Posted by madcapmagishion

The only question I have is, does the CDD fee ever disappear or are you stuck with it for life?

Yes, you can pay off your property's portion of the bond. I remember some new home builders in WGV were paying off the bond on some of their inventory homes 1-2 years ago. I remember the CDD in Bartram Springs was originally a 30-year bond. 2 or 3 years into the term, the bond was refinanced to a lower interest rate, but at a new 30-year term.

[EricBoyd]

Originally Posted by Caladium

IMO those things should be covered by an HOA fee, not a separate fee on top of HOA. But, I guess it's just a matter of learning a new system.

What you'll find in these CDD communities, though, is a much more elaborate/fancy amenities offering VS a small community with a small pool, playground, and b'ball court. The CDD bond also pays back the developer for all the installation of roads and utility services, IIRC.

[Caladium]

Originally Posted by EricBoyd

The CDD bond also pays back the developer for all the installation of roads and utility services, IIRC.

Pay back the developer? LOL that sounds so weird to me but I guess it's all in how you look at it. Up in my neck of the woods the developers build the roads, interchanges, utilities, etc. as a proffer to be granted permission by the county to build in the first place. In addition, they often have to agree to help build schools and community buildings (stadiums, theaters, etc.) You don't pay them back for it.

Of course, you can argue that the price of the proffer is then added to the initial cost of the homes (which, to continue this argument, is much higher in northern VA than in JAX).

So I guess the bottom line is the CDD lets you pay it off over time unlike up here where you pay for it upfront when you buy the house. I guess the trick is to figure out what your CDD will add up to over time to understand the "true" price of your house.

[ssclulow]

Aren't the CDDs only an issue in the very large communities being built in in the northern and northwest parts of St. Johns County. I'm not aware of anyone on Anastasia Island or the immediate surrounding area of the City of St. Augustine that are CDD communities.

[madcapmagishion]

Let's say your CDD fee is $3000 a year for the next 30 years. (as long as the CDD board doesn't refinance any of it) That's $90,000 over the life of the bond that I don't believe you can take any tax write-off on.(From what I have read in C-D about CDD fees) I would have rather have paid the fee off with a larger home loan and been able to claim the write-off, than pay piecemeal for current and future improvements. And have to pay a HOA fee also. NO WAY! If you can afford a $400,000 home you can also probably afford/qualify for a $500,000 home as well, as the payment difference is not all that much.(unless you were living on the edge with the $450,000 house to begin with)

[EricBoyd]

I should also add that the total Non Ad Valorem tax may not completely fund the debt service of the bond. I use Bartram Springs CDD as my example, since I know where to get the info. Here's the 2010 adopted budget: http://www.bartramspringshoa.com/Doc...d%20Budget.pdf Page 1 and 2 outline the amounts that go for the general fund, which covers operation and maintenance of common areas and amenities. The bottom of page 2 shows the breakdown per unit. (between $600-750) This part of the CDD tax can't be paid off, as these expenses are ongoing. Page 11 outlines the debt service on the bond, which is the part that can be paid off early. Per unit price is at the bottom of 11. (between $898-1237)

I should also add that the annual HOA fee for this community is only about $60. The amenities are covered by the CDD fee.

[Artist at Play]

I am also interested in a "retirement" community. I have only found 3...in the area...Sweetwater, Riverwood- now del webb ponte vedra and cascades.
They all seem to have pros and cons...Sweetwater is sold out except for condos and is close to Mayo hospital and city acitivities but seems to have a school ball park along one side - not sure how that affects things.
Riverwood is new, has little shopping around it...yet -probably will come but will not be sold out in my life time.
cascades - I know little about but it seems far from the city activities.
The reason I am interested in this type of community is instant access to making friends with the activities, I will not have family in area and so looking for friends to do things with.
I am a artist so need access to local city for art league, etc.
I have also thought of trying to find a community-non retirement that has a lot of retired people, not sure how to do that and if it has no planned activities it will not be quite right I think.
It is a difficult problem.

[madcapmagishion]

Your an artist .... you should really look at the Historic Riverside/Avondale area as it is ground zero for the local artistic element in Jacksonville. Plus several galleries and the nationally recognized Cummer Art Museum and Gardens. Quick and convenient access to the MOCA downtown, along with several more galleries there and in San Marco and historic Springfield. And the best part, lots of condo's for sale and no cookie cutter neighborhooods.

[Artist at Play]

Originally Posted by madcapmagishion

Your an artist .... you should really look at the Historic Riverside/Avondale area as it is ground zero for the local artistic element in Jacksonville. Plus several galleries and the nationally recognized Cummer Art Museum and Gardens. Quick and convenient access to the MOCA downtown, along with several more galleries there and in San Marco and historic Springfield. And the best part, lots of condo's for sale and no cookie cutter neighborhooods.

thanks, I will look into that.