Cost of Living

You’ve worked hard for your money and you’re not one to throw it all away to finance a lifestyle you can’t afford without knowing what all the costs are. Believe me I know. But living in The Villages IS pretty reasonable.

The package that you get from The Villages Florida will have a sheet with a monthly cost breakdown of what they estimate it will cost you to live in The Villages. But let me give you the basics here and you can decide for yourself if its within your budget.

Mortgage payment: (NOTE that this is NOT included in the Cost of Living Estimates from The Villages, but hey, not all of us can afford to pay cash for our new home.) So, for a $250,000 home with a 10% down payment at 6.5% interest for 30 years your monthly payment would be: $1422.15

Amenities fee: The fee to enjoy all the great amenities in The Villages Florida is currently $130, but assume that it will go up in subsequent years.

Homeowners Insurance: Depending on the size and value of your home expect to pay between $80 and $150 per month.

Property Taxes: Again this will depend on the value of your home, whether you qualify for homestead, and which county it is located in (more on all this in Chapter 9). But for a $250,000 home count on paying between $3,000 and $4,500 per year, which works out to between $250 and $375 per month.

CDD Assessments: This will vary based on the size and value of your home but range anywhere from $100 to just over $300 per month.

Utilities: These are your water, sewer, garbage, power, phone, and cable. Budget at least $350-$400 for these combined. Your actual bills may be more or less, based on your usage but this figure is for the basics.

While the “Estimated Monthly Cost of Living” worksheet in your package from The Villages shows a total of under $1000 per month, as you can see by my estimates here, you might be looking at quite a bit more per month, especially if you have a mortgage. But again, when compared to other parts of the country and other parts of Florida, it’s a pretty good deal in my opinion.

Plus, you have to think about all that you get in terms of lifestyle and enjoyment you get just from calling The Villages Florida home.

We’ll explore that thought and the costs laid out above a bit more in the book.