Since there are so many fantastic retirement communities to choose from, simply weighing the costs of each can greatly narrow down the choices come decision time. Before researching specific costs make sure to spend time deciding upon your wants and needs in order to know what you are willing to spend a little more or a little less on in the long run. Certain costs such as everyday living costs, landscaping, utilities and pest control have been left out of this list since we assume you already have factored these in.
Mortgage Payment
If you are not paying cash for your home, this is most likely to be one of the larger monthly costs to consider. Don’t forget to factor in the length of time you will be paying this in accordance with the time in life you are buying.
Homeowner’s Insurance
In terms of homeowner’s insurance this monthly cost could be estimated around $100 per month or higher since flood insurance is encouraged in Florida.
Amenities Fee
This fee is associated with access to amenities such as tennis, pools, organized activities, potentially neighborhood watches and more.
Property Taxes
Depending upon the county and laws applicable these can range somewhat drastically with changes in price. According to The Villages personal estimates this is around $250 a month. You will also need to factor in whether or not you are eligible for the Homestead exemption here.
CDD Assessments
These local uniquely purposed governing structures are used to help control and regulate developing communities.