Ocala 55 plus retirement communities in and around the Ocala Marion county Florida area with images, prices, amenities and HOA fees.

Buying an Ocala retirement home for cash

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Most of my buyers are looking for a retirement home and quite a few use money from the sale of an existing home in a more expensive part of the country to buy a home for cash here in Ocala. A lot of people don’t like the idea of not having a mortgage hanging over their heads in their retirement years. What some buyers don’t realize is that there are very few closing costs associated with a cash sale.

All of the big money for closing costs come from getting a loan. It is up to the bank to estimate closing costs associated with their loans. From what I have seen closing costs run between $5-$7K on most loans. The funny thing is closing costs can be crazy high on small loans. I saw a buyer get a $50K loan to suppliment cash he had and the closing costs were 5,000 ! I said that’s 10% !

Title and closing. The seller here pays for title insurance and doc stamps (tax on sale). A title company researches the title and delivers a full warranty deed. The title company handles everything to do with the closing.

HOA fees are pro rated to the day of closing. Some HOA’s have a set up fee and a couple have an HOA contribution fee. Some HOA’s want a month or 2 in advance to get started.

Inspections. Everyone needs a professional home inspection which includes a termite inspection. Many get a wind mitigation certificate for their insurance company which lowers the rate a little. An inspection will run in the $350 +/- range depending on what you inspect.

Survey. Being cash there is no bank that requires a survey. 55+ communities are planned communities. However is you don’t get a survey there will be an exclusion on your title insurance saying that you didn’t provide a survey. Most buyers get a survey but not all do. A survey even on a small lot like in 55+ will be $300 +/-.

 

rent a house and look to buy

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I was showing retirement homes to a single guy from up north, He saw a few homes he liked but friends kept telling him he should look at more cities. They told him to rent a house for a while and take his time looking.

I told him about a couple who rented in On Top of the World for a year. They wanted to be sure they liked it there. After I found them a house I said to the wife that prices had gone up a lot in that year. She agreed and thought it was a good $5-$10,000. In addition she and her husband spent another $1200 a month in rent.

A few things to think about if you think renting and looking is a good idea.

55+ communities restrict rentals most are a minimum of 6 months and landlords prefer a years lease.

Timing can be a problem. What if you find a perfect house in the first month ? Do you wait and hope it doesn’t sell right away ? Do you go for it knowing you will owe the rest of your lease ? Expect to pay a good $1000 a month in rent. Three four or five months rent is a lot if you find a house right away.

I suggested to my buyer that if he wanted to see other areas he’d be better off just driving around and staying in a nice hotel for a few days in each city. It’s cheaper in the long run than getting involved in a 6 month plus lease. He had to admit the 2 days he spent with me looking at communities and homes gave him an excellent idea of what we have here in Ocala for 55+ homes.

Just sold a new home in JB Ranch

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JB Ranch entry sign

JB Ranch is a new 55+ community here in Ocala. It is located off SR 200 and couldn’t be in a better location. I haven’t done a blog profile yet because the community is so new the clubhouse is under construction. There are 2 national builders there DR Horton and Lennar Homes. Both are offering new homes for very close to the price per square foot of a resale.

I just sold a new home by Lennar. I was impressed by the standard features. The kitchen has 42″ upper cabinets, quartz counter tops and really nice GE appliances standard.. A washer and dryer are also standard something you never see in new homes. . The master bath has a walk in tiled Roman shower. It is a smart home with all sorts of new smart features that I’m just getting up to speed on. All at the prices of a nice resale around $100- to $115 sqft of living area.

See a few pictures below

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A good reason to buy a 55+ resale is the lot

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After seeing homes in 55+ retirement communities buyers realize that even though the homes may be on smaller lots close together a private view out the back from the Lanai makes all the difference. Private lots sell for a big premium new and are hard to find. There are resale homes with private lots some with a really nice view in many price ranges.

On Top of the World Ocala FL

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On Top of the World entry sign

On Top of the World Ocala Florida

On Top of the World is a huge 55 plus retirement community located in SW Ocala Florida.  Sidney Colen, a visionary Florida builder, purchased the 12,872 acre Circle Square Ranch in 1975 and began to develop On Top of the World in 1982. His son is still building new homes here today.

On Top of the World is unique in Ocala real estate for a couple of reasons. This is a leasehold property which is unusual for our area. This means that you own the house but the lot is leased for 99 years from the time of the first sale.  A buyer also can’t finance more than 80% of the purchase price of their home. Unlike most Ocala 55+ communities all outside maintenance is part of the HOA fees.

In addition to new homes there are quite a few resales here.  Older homes are often attached in groups of 4 to 6 and of concrete block and stucco construction. The newer homes are single detached and also CBS. Sizes range from 1,000 to about 2400 sq ft of living area.

HOA fees for attached Villas and detached single family at On Top of the World include all outside maintenance including lawns, painting and roof repair but not replacement as well as property insurance on the building but not the contents or interior.

Amenities include the Arbor Club with indoor and outdoor pools and tennis, the Health and Rec Center with a fitness center, racketball, steam room ect. and a craft building with a complete woodworking shop, The Spa Ranch and Fitness Center, a library, a dog park, a bus service for shopping  and the Circle Square Cultural Center. There are 2 golf courses, the Tortoise and Hare and The Links.  Golf, the Ranch Spa and Fitness and the Cultural Center all have fees above and beyond your HOA fee. There is also great adult education and cultural opportunities at Master The Possibilities which is also open to the public.

On Top of the World is also a golf cart community which means you can drive your cart down the street. You can even access a Publix grocery store, small shops and a few restaurants with your golf cart.

Update March 2015. If you are interested in OTOTW the resales are selling for a significant discount over new homes.

Update 3/16 HOA fees for single family homes are $324- to $332- month. The Villas are $404- month.

Update 3/18 HOA fees on single family homes are from $332 to $353 per month. Villas are now $417 month.

Update 2/25/18 HOA fees on single detached homes are from $337 to $358 per month depending on the neighborhood. Villas are now $424 month.

Update 3/2/2020 HOA fees on Villas have gone down since they no longer include water and sewer. HOA fees vary by the neighborhood and range from $350-$362 a month for both Villas and single family homes.

Update 3/4/2021 HOA fees have gone up. They vary by the neighborhood and range from $355- to $375- per month.

If you would like a list of homes for sale in On Top of the World fill out my Dream Home Finder, call me or send me an email.

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Low priced Ocala 55+ homes in short supply

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Villas in On Top of the World

Villas in On Top of the World

We are now is a sellers market here in Ocala. Just a couple of years ago there were quite a few 55+ homes under $100,000.00. That is no longer the case. Prices have gone up and inventory has gone down. As of this posting January 2018 most 55+ homes under $100K are Villas in On Top of the World. Villas are homes attached in rows of 6-8. The Villas do include exterior maintenance, water and sewer but the $400-+ a month HOA fees are high for some buyers looking for a low priced retirement home. Today there are only maybe a dozen single detached homes in other 55+ communities. They are small around 1000 sqft of living area, 2/2 with a 1 car garage. They do have reasonable HOA fees but you need to hire a lawn guy and pay water and sewer. There are low priced mobile home communities but mobiles in Florida on rented lots are not considered real estate and I can’t sell there.

Del Webb Stone Creek Ocala FL

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Del Webb Stone Creek entrance

Del Webb Stone Creek

Del Webb Creek is a 55 plus, gated, golf course community located in SW Ocala.  Stone Creek is a newer community that is still under construction with both new homes and resales available. The homes here are concrete block with stucco and range in size from 1450 to over 2400 sq ft of living area. Prices range from about $170,000- to over $400,000- plus for resales.  In addition to the Stone Creek golf course there is a huge clubhouse with a state of the art fitness center, craft and game rooms, a resort style outdoor swimming pool, an indoor heated lap pool, tennis courts, a softball field and even a fishing pond and dog park.  HOA fees are around $185- per month. Stone Creek is conveniently located just north of SR 200 with easy access to shopping, restaurants and health care. If you are looking at the Villages you really need to look at Stone Creek.

Update 6/14 HOA fees are $183- month. Stone Creek came out with new models in January 2014. This is the 2nd time they changed the models since the originals in 2004 so there are now quite a few floor plans.

Update March 2015 HOA fees are now $188- month. Stone Creek is a very hot market right now. This was one of the only 55+ communities to continue building after the real estate market crash. It is not one of the only sources for newer 55+ homes in the area.

Update 3/16 HOA fees are now $192- month. Homes sell fast in Stone Creek and prices are going up.

Update 12/18/17 HOA fees remain at $198 month for homes without lawn care. There are also a few Villas and smaller Garden Series homes with lawn care. This is a very popular 55+ community with great amenities. Houses sell fast here

Update 1/23/10 HOA fees for Classic and Estate series homes are $198- month and the Garden Series that include lawn care are $307- month

Update 3/4/2021 HOA fees for Classic and Estate series homes are $204- month. Garden Series $326- month. Villas $437- month

If you’re thinking about buying a new or resale home in Stone Creek I can help. Only a Realtor can show you both new and resales. A Realtor will also show you comparable sold properties and help you negotiate your sale. Before you register for a brochure or a tour ask about being represented by a Realtor.

If you would like a list of homes for sale in Stone Creek either email me or use the Ocala Dream Home Finder. I can set you up a Listing Cart on the Ocala MLS for Del Webb Stone Creek homes.

In the interest of full transparency I am building a new home in Stone Creek  this year 2019. I have become somewhat of an expert on new homes in Stone Creek. I know all the options and the entire building process. I am blogging about building new in Stone Creek if you want to follow my progress.

Updated pictures below

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Summerglen Ocala Florida

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Summerglen entry sign

Summerglen Ocala Florida

Summerglen is a 55+ retirement community with a very nice golf course just south of Ocala.  All homes are 2004 and newer. Homes in Summerglen are all concrete block with stucco and range in size from a little under 1500 sq ft of living area to a little over 2500 sq ft. HOA fees include maintenance of the common areas, clubhouse and amenities, trash pickup, guard at the gate and lawn mowing but not fertilizing. Summerglen is an active 55+ community with a great clubhouse, heated beach entry pool, fitness center, library, crafts, dog park, softball field, basketball court and a lot more. Two things that Summerglen offers that most other communities don’t have are lawn mowing and free RV parking, both are extra costs elsewhere. Golf is an extra fee. There is also a nice restaurant, Moreno’s Grill located next to the clubhouse. As in any community that has lawn care you cannot fence your yard.

Update 6/14 HOA fees are still at $125- month which includes lawn mowing. The developer has turned over the community to the HOA. I am surprised that they can continue with such low HOA fees.

Update 3/15 HOA fees have increased to $130- month. Still a bargain seeing considering the lawn mowing.

Update 3/16 HOA fees remain at $130- month. The best deal in our area !

Update 1/30/17 HOA fees have increased to $150- month. This still includes lawn mowing and trimming but not pruning, lawn water or fertilizer. You do get a $20- month credit at the restaurant though.

Update 12/2/17 HOA fees are $156- month and still includes lawn mowing and trimming but not pruning, lawn water or fertilizer. You do get a $20- month credit at the restaurant though. Best HOA fee deal in town !

Update 12/10/2018 HOA fees have gone up to $206- month. In addition to mowing and edging the yard you now also get cable TV, Spectrum Bronze Tier 1 and super fast 100 mbps internet. A $20- month voucher to the restaurant is also included. You won’t get more for your HOA $ than Summerglen.

Update 1/20/2020 HOA for 2020 is $252.00 and they no longer offer a monthly voucher for the restaurant.The restaurant on premises is now operated my Turnpike Mike’s and the people seem happy with it..Happy Hour daily etc..The lawn service is also new and they are doing a great job.The Golf Course is in very good shape and that was taken over a couple of months ago..

Update 3/4/2021 HOA fees remain the same at $252- month

If you would like a list of homes for sale in Summerglen fill out my Ocala Dream Home Finder , call me or send an email. I’ll set you up a Listing Cart which is custom MLS search for Summerglen.

Images below.

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Oak Run Ocala Florida

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Oak Run entry big rock wall with pond

Oak Run is a large 55 plus community located just off SR 200 in the SW corridor area of Ocala. Construction began in 1985 and was built out in 2007. Oak Run is divided into neighborhoods. These neighborhoods have evolved over a 25 year period and each one has a unique character. The older homes are frame with aluminum or vinyl siding. The newer homes are concrete block and stucco. As time went by the size of the houses grew as buyers expectations increased over that 25 year period. You will find older homes as small as 700 sq ft of living area and newer homes over 3,000 sq ft. Prices as you might expect vary tremendously. HOA fees vary by the neighborhood. In a few areas the homes include lawn care which adds to the fee. In general HOA fees at this time range from $110- to about $150- with homes that have lawn care being  higher at about $230- $250 per month, exact fees vary by neighborhood. Amenities at Oak Run are extensive. They include 3 gates with a guard house, basic cable TV, curbside trash pickup and common area maintenance. There is the Royal Oaks Golf Course, 5 outdoor pools, an indoor pool, a great fitness center that is like joining a gym, a restaurant, numerous clubs, tennis, pickleball, horseshoes, shuffle board ect. Golf is not included in the HOA fee.

Update 3/15 Fees remain stable but I think prices are starting to go up. Oak Run gives you a lot for your HOA $. It is a must see.

Update 3/16 HOA fees are always stable in Oak Run. They do vary by the neighborhood, size and age of the home. Inventory is down and prices are up from last year.

Update 11/9/17 HOA fees seldom go up in Oak Run. They vary by neighborhood which is related to the age of the home and if the house is on a maintained lot or not.

If you would like a list of homes for sale in Oak Run fill out my Dream Home Finder or send me an email. I’ll set you up a Listing Cart for Oak Run. Read more

Ocala 55+ home prices vs The Villages

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I often get buyers looking in The Villages contacting me to see what is available further north in Summerfield and Ocala. There are nice alternatives to the Villages in Ocala and Summerfield. I don’t work in The Villages myself but the Ocala Marion county MLS does cover some of it. This morning I was looking at what sold yesterday on our MLS and saw a house in The Villages that sold for $179,500-. It was only 1179 sqft living area, frame with siding and $153 sqft, built in 03. I thought wow that’s crazy expensive and prompted this blog post.

The following are just examples of homes sold in the past 30 days. They may or may not be comparable. They are only intended to provide a rough idea of prices in various communities. When comparing homes of different sizes look at the $/sqft.

The Villages :

2005 1535 sqft block and stucco $246,000 $162 sqft Mallory Square

2006 1602 sqft frame/siding $279,000 $180 sqft Tanglewod

2018 1196 sqft frame/stucco $285,000 $259 sqft Sumter Jacaranda Villas golf view

Ocala and Summerfield:

2017 2017 sqft block and stucco $284,295 $146 sqft Candler Hills Stonebridge  3 baths GC garage

2002 1680 sqft block and stucco $185,000 $113 sqft Ocala Palms golf/water views GC garage

2016 1928 sqft frame/cement board  $257,000 $146 sqft Ocala Preserve at Trilogy

2006 1504 sqft block and stucco $146,500 $100 sqft On Top of the World

2009 2419 sqft block and stucco $374,888 $155 sqft Stone Creek birdcage golf view GC garage

2009 2279 sqft block and stucco $226,500 $101 sqft Summerglen golf course view

2004 1958 sqft block and stucco $240,000 $123 sqft Spruce Creek Country Club

2006 1812 sqft frame and stucco $274,500 $154 sqft Stonecrest birdcage and golf course view

If you’re interested in seeing homes for sale in any of these Ocala or Summerfield communities fill out my Ocala Dream Home Finder and I’ll set you up a search and Listing Portal.