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I'll chime in with my opinion. I think many people are skeptical/turned off by the idea of leasing (not owning) the land and therefore that could affect resale. However, other than that ... I don't think it much matters. 99 year lease is a long time. You'd have to go through several generations to get near the end of that lease. And remember, you are getting a house that will cost you less because of the lease.
That being said, I bought in Candler Hills just because I felt more comfortable with what I'm used to...owning my house and the land on it. Good luck, Blanco111, on your decision. I take it you have visited the community?
I expect this will be the last home I will own, and I don't have heirs. However, I too am used to owning the land my house sits on. Ergo, I will more than likely follow your path.
No, I haven't visited the community yet. I am planning to sell my house and move to a retirement community in three years when I turn 66. That's when I'll be getting more cash flow with social security (on top of my pension). So I'm not in a hurry.
Round trip airfare from upstate ny is $600. And I'd have to make other arrangements that will add to the cost. I know they have that two night $99 - $200 World Tour. I have to decide if I want to make the visit in the winter when the weather is pleasant or wait till next summer and get a taste of the stifling heat (but pay the discounted rate). Also, I'm trying to figure out if I could also visit The Villages on the same trip down there. That way I could see which community I'd prefer without having to make a separate visit to TV. In any case, I expect I'll want to rent a home down there for a month before I decide. I've been in contact with TOTW internet concierge who mentioned that. I have to find out how much that will cost, too.
Is there anything about the Stonebridge and Candler Hills neighborhoods that make them different than the leasehold deed neighborhoods? Also, how much property do the houses in your community have? Are there lots I should avoid?
You will find the quality of construction the same. Probably better than most communities. No debt. Differences will be the lot location, upgrades and owning or leasing the land. The builder is filling in lots and that is why you have some ready to buy homes. You can start from scratch and pick your lot and home if you like. I think build out might be about 6 months. Some buyers need to move faster than that. Also look at resales.
Also look at the monthly fees as some include outside maintenance and some do not.
Thanks for the explanation of the ready to buy houses. Can you make any suggestions and/or caveats about lot location and upgrades particular to the TOTW retirement community?
The TOTW internet concierge mentioned they have a deal if I go through them to sell my house up here, I can close on a house down there less the cash that the sale of my house up here would contribute. They guarantee my house up here would sell in six months. I didn't get all the details, but are you aware of this arrangement? One thing I want to try and avoid is being in limbo. I'd like to sell my house here on day one and move into my new house down there on day two.
I am reluctant to buy a used house. There could be issues with the construction, etc. I know I can get the house inspected, but I'd still feel uneasy about it. Still, I'll take a look at them when I go down there.
These deeds really are dependent on what you want to "do" with your later years, and what you want to see next to you during them. For many people, their adult years are for home ownership. It's the American dream. I own this land, I can raze it to the ground, build on it, sink a swimming pool in the ground, park three cars on the lawn if I want. It is mine.
Of course, at some point, you will have to do lots of things to it. You'll have to do something with the lawn, you'll need to either keep the driveway in good shape or tear it up and make a gravel path (and then keep THAT in good shape). You'll need to keep up the garage, any gardening you do you'll need to keep up. Maintenance is a lot of work, it's what adults do with their property, but when you become a senior citizen, you might not want to have to do all that. "Life's too short" becomes a harsh reality.
That's what the leased land options are for. You don't own the land. Of course, you can't put it in your will and give it to someone else since it's not yours, but you are also not responsible for it. You pay a fee every month, and it's someone else's problem. And - when you die, it reverts back to the landowner and continues to be their problem. Your estate has no debt on it, your beneficiaries pay no estate tax on it. However, until they sell the house that's on that leased land, they'll still be responsible for paying the monthly fees.
The other downside to leased land, is that the landowner gets to tell you what you can and cannot do with the lawn and the "face" of the dwelling. If he doesn't want pink doors on his property, he can forbid it. If he doesn't want rock gardens, he can forbid it. This can be a double-edged sword - generally, the landowners will be an association, and they'll come to agreements on what they feel is acceptable, and there are usually choices and options you can pick from. This means also, that your neighbor can NOT park his pickup truck on his front lawn, or use the palm tree next to the front door as a dog run for his pekinese. So while there's the "I hate feeling like I have to conform!" problem, there's also the "thank goodness my neighbor has to conform too!" benefit.
In the subdivision where I live now there is an association which was part of the deed when I purchased the house twenty-five years ago. There's a board made up of volunteer residents of the subdivision. And I pay an annual fee which is currently $200 a year. The HOA contracts out for maintenance of the common grounds. They also enforce things like no building fences, no riding unlicensed motor vehicles on the roads, no keeping campers, boats on your property for more than a couple of days, etc. And I agree strongly with your last line.
These deeds really are dependent on what you want to "do" with your later years, and what you want to see next to you during them. For many people, their adult years are for home ownership. It's the American dream. I own this land, I can raze it to the ground, build on it, sink a swimming pool in the ground, park three cars on the lawn if I want. It is mine.
Of course, at some point, you will have to do lots of things to it. You'll have to do something with the lawn, you'll need to either keep the driveway in good shape or tear it up and make a gravel path (and then keep THAT in good shape). You'll need to keep up the garage, any gardening you do you'll need to keep up. Maintenance is a lot of work, it's what adults do with their property, but when you become a senior citizen, you might not want to have to do all that. "Life's too short" becomes a harsh reality.
That's what the leased land options are for. You don't own the land. Of course, you can't put it in your will and give it to someone else since it's not yours, but you are also not responsible for it. You pay a fee every month, and it's someone else's problem. And - when you die, it reverts back to the landowner and continues to be their problem. Your estate has no debt on it, your beneficiaries pay no estate tax on it. However, until they sell the house that's on that leased land, they'll still be responsible for paying the monthly fees.
The other downside to leased land, is that the landowner gets to tell you what you can and cannot do with the lawn and the "face" of the dwelling. If he doesn't want pink doors on his property, he can forbid it. If he doesn't want rock gardens, he can forbid it. This can be a double-edged sword - generally, the landowners will be an association, and they'll come to agreements on what they feel is acceptable, and there are usually choices and options you can pick from. This means also, that your neighbor can NOT park his pickup truck on his front lawn, or use the palm tree next to the front door as a dog run for his pekinese. So while there's the "I hate feeling like I have to conform!" problem, there's also the "thank goodness my neighbor has to conform too!" benefit.
In the subdivision where I live now there is an association which was part of the deed when I purchased the house twenty-five years ago. There's a board made up of volunteer residents of the subdivision. And I pay an annual fee which is currently $200 a year. The HOA contracts out for maintenance of the common grounds. They also enforce things like no building fences, no riding unlicensed motor vehicles on the roads, no keeping campers, boats on your property for more than a couple of days, etc. And I agree strongly with your last line.
The TOTW internet concierge said many people who own houses in Stronebridge and Candler either get a landscaper or use a xeriscape (colored rocks, etc.) I don't plan do mow the lawn, etc.
"Move in Ready" homes are not bad. Don't know what makes them any different. Just do your homework if you decide to buy. Good luck.
The weather between the 2 areas is not radically different, only about 30-45 minutes apart from each other.
Thanks. I figured that. I wish The Villages had better descriptions of the new home models for sale. (Like TOTW has with their virtual tours of the models interiors).
I think you have to plan on more time than two or three days to get a good feel. I would rent for a month in the Villages VillagersHomes4Rent.com in the summer. Reason is it is less expensive. Then plan on trying the 2 or 3 day vacations at a few places. Be sure to work with the salesmen.They will save you time and usually do not push for a sale. Don't buy on your first trip.Leave some time pass.
I think you will find Candler the most expensive location due to the home costs and you are responsible for the outside upkeep. By the way you pay for watering the grass so add $100 a month to your budget for water. Candler also has it own pool and club house (second one under construction) and also has the use of all the other TOTW amenities. You should also note that you will be within about 2 miles of everything, including two grocery stores, educational center etc., by golf cart. Probably within 10 miles of everything you would need. (Rt 200).
By the way the villages has bonds. TOTW has no current bonds but I think at one time there were bonds so if you do switch to a used home be sure to ask about bonds.
Is there any way to screen rentals in The Villages that do allow pets? If I go down there for a month, I don't know if it makes more sense to board my dog here or ship him down there (and back).
I think you have to plan on more time than two or three days to get a good feel. I would rent for a month in the Villages VillagersHomes4Rent.com in the summer. Reason is it is less expensive. Then plan on trying the 2 or 3 day vacations at a few places. Be sure to work with the salesmen.They will save you time and usually do not push for a sale. Don't buy on your first trip.Leave some time pass.
I think you will find Candler the most expensive location due to the home costs and you are responsible for the outside upkeep. By the way you pay for watering the grass so add $100 a month to your budget for water. Candler also has it own pool and club house (second one under construction) and also has the use of all the other TOTW amenities. You should also note that you will be within about 2 miles of everything, including two grocery stores, educational center etc., by golf cart. Probably within 10 miles of everything you would need. (Rt 200).
By the way the villages has bonds. TOTW has no current bonds but I think at one time there were bonds so if you do switch to a used home be sure to ask about bonds.
Do you mean TOTW residents who live in other neighborhoods can not use the Candler pool and club house but a resident of the Candler can use the pools and club houses of other neighborhoods? The Estate homes come with Florida Friendly Landscapingâ„¢ with Zoysia grass and native plants which conserve natural resources
Hunter® multi-zoned irrigation system with rain sensor and automatic timer for grass and flower beds
Do you have this? Can you explain more about what it is?
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