NEWS

Living in The Villages, FL, offers a unique and vibrant lifestyle tailored to active adults. This master-planned community boasts an array of amenities, including numerous golf courses, swimming pools, and fitness centers, ensuring residents can stay active year-round. With over 3,000 social clubs and groups, you'll find endless opportunities to meet new friends and pursue your hobbies. The community's town squares feature dining, shopping, and entertainment options, creating bustling hubs of activity. Additionally, the low crime rate and well-maintained infrastructure provide peace of mind, making The Villages an ideal place for a fulfilling and convenient lifestyle.

Living in The Villages, Florida, offers retirees an active and engaging lifestyle. The community is designed for those 55 and older, featuring over 100 recreation centers and thousands of organized clubs. Activities include golf, tennis, pickleball, and softball, ensuring that residents can stay fit and have fun.

The Villages is particularly renowned for its vibrant softball scene, with over 200 teams participating in leagues and tournaments throughout the year. The community's dedication to sports and recreation fosters a lively, supportive environment for healthy aging.

Find the places you'll love to play in. 

If you're considering purchasing a home in The Villages, Florida, it's crucial to understand what a Community Development District (CDD) is and how it can impact your home buying experience. This guide will provide an informative overview of CDDs, their costs, and how they operate, with a special focus on property bonds used in The Villages.

What is a CDD?

Community Development Districts (CDDs) are local, special-purpose government units established under Florida's Uniform Community Development District Act of 1980. Their primary role is to finance, construct, operate, and maintain public infrastructure and community facilities. These include roads, water management systems, and recreational amenities. CDDs can enter into contracts, own property, and adopt rules and regulations.

Every village in The Villages, FL, is part of one of the 17 CDDs that make up the community. CDDs finance the initial infrastructure through tax-exempt municipal bonds issued to developers. Homeowners then repay these bonds via assessments added to their property tax bills.

Costs of Living in a CDD

Homeowners in CDDs within The Villages face a non-ad valorem assessment on their annual property tax bill. This assessment consists of two parts:If you sell your home before the bond is fully paid off, the new owner will assume the remaining balance. Conversely, if the bond is fully paid off, the home might sell at a higher price, reflecting the absence of ongoing bond payments.

Property Bonds in The Villages

Property bonds are unique financial instruments used in The Villages to finance large-scale projects such as golf courses, recreation centers, and other amenities. These bonds are secured by liens on the properties within the community. When a property bond is issued, bondholders receive interest payments, while homeowners pay a special assessment added to their property tax bills to repay the bond.

Understanding Bond Debt Assessment

The bond debt assessment reflects each property's share of the infrastructure costs. This assessment is calculated based on the total bond cost, divided equally among assessable acres within a phase of the district. The cost per acre is then multiplied by the number of acres in a unit, and divided by the number of lots, resulting in the assessment for each property.

Paying Off Your Bond

Homeowners can pay off their bond at any time, either in full or through annual assessments included in their property tax bill. Paying off the bond early can reduce the total interest paid. To get the exact payoff figure, homeowners can contact the Bond Team at The Villages.

What Happens If I Buy A Home With A Bond?

Once you purchase a new home, or a pre-owned home in The Villages, the balance, or remaining balance will fully transfer to the new homeowner.

I'm Selling My Home, What Happens to The Bond?

The remaining balance on your bond is fully transferrable to the buyer of your home.

CDDs vs. HOAs

While CDDs and Homeowners Associations (HOAs) may seem similar, they have distinct differences:

Benefits of Living in a CDD

Living in a CDD offers several benefits: Residents also benefit from a well-maintained community, which can lead to higher property values over time. CDDs ensure perpetual maintenance of common areas and environmental conservation, protecting long-term property values.Understanding the structure and function of CDDs and property bonds is essential for potential homeowners in The Villages. 

CDDs provide a reliable and effective way to manage and finance community infrastructure and amenities, ensuring a high quality of life for residents. By comprehending the costs, benefits, and governance of CDDs, you can make an informed decision about purchasing a home in The Villages. 

For more detailed information, prospective buyers can contact The Villages Community Development District directly or visit their website.

Contact the Bond Unit at (352) 751-3900 for your Bond Payoff amount.

A real estate free market analysis provides you with an in-depth evaluation of your property's current market value. By comparing similar properties in your area, it helps you understand the competitive landscape, set the right price, and make informed decisions. This analysis includes factors like recent sales, local market trends, and property condition to give you a comprehensive understanding of your home's worth. 

Additionally, it highlights the strengths and potential areas for improvement, ensuring you have a strategic advantage whether you're buying or selling in today's dynamic market.