Quote:
Originally Posted by Coop63
(Post 2296307)
My wife and I are looking at building a home in Village of Moultrie creek. It is nestled between the Middleton downtown and the new East Port town square. It could be 2 years of construction before the amenities move into this area. It is hard to believe it will only be 2 years given the vastness and sparsity of buildings at the present time.
We are new to the villages and I am not retired yet so getting the house we want is more desirable. Also, it's the excitement of 2 new communities right by us. It is my understanding that we will see appreciation in home value given the early stage of development. We can build a nicer home for less then some of the new builds listed in the Village of Dabney (for example). The appreciation would cover us against a potential real-estate mistake. We understand the bond.
We are bought in on the active lifestyle promise the Villages has to offer. We have taken the tour and spent a couple days exploring. My wife and I love it.
I would greatly appreciate feedback on any of the topics I mentioned. Looking for tips, advice or any other helpful hints. Thanks in advance.
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Your doing the right thing at the right time IMHO. Sorry this is a long read but it covers a lot of your concerns - plus some others, and may also be of interest to others in similar circumstances - especially if they aren’t US citizens.
I can’t believe that 5 years ago we were in exactly the same place as you. Marsh Bend was in early stages of construction while accross the road Linden, etc was just sand. As for Richmond, St Johns, DeLuna, Hammock etc Etc…. Pure guess what they were going to look like- certainly less developed than Eastport is now.
We came out on a lifestyle in Nov 19 and bought one of the last lots in Marsh Bend. We weren’t 100% convinced about the lot and it had a HUGE $250k premium but we relied on the speed of development by TV that we could swap out our lot for no additional charge.
Feb 20 we came back out and designed our home. I work in architecture/interior in UK so building our own home was a wonderful experience. BUT we really hated our lot, so much so we seriously considered pulling out.
Thank god we didn’t as mid week a lot became available in Chitty Chatty that ticked EVERY box, plus was $100k cheaper so we swapped out, finished with designers and flew home. Chitty Chatty had a few foundations. Bradford, St Catherines etc were on par with Moultrie Creek. Dabney that wasn’t even fully cleared.
Then came covid. Borders closed, and we weren’t able to return for close on 3 years!!! Our house got built and we used Goldwingnuts to record progress. I cannot recommend Don’s service enough. The regular updates kept our dream a reality during lockdown (my previous Floridian home never got built as the developer was a con man who stole/misappropriated 695 owners deposits without building a single home - 20 years on and the land is still undeveloped while he is in jail). The bad news for us came during closing…. Due to covid the FX crashed and although the dollar closing price was the same, the GBP equivalent resulted in us having to find an extra £70k (or a US person paying an extra $100k).
I had set up a facebook page for Chitty Chatty (suggestion for you) and through that got to virtually know my future neighbours. The one thing you’ll find is that community here is all. One of neighbours helped us close, checked the house for 2 1/2 years, mowed the lawns, and helped us find a tenant (better to rent than leave empty).
During our first year we got hit by lightening which took out half our electrics. We are with Progressive Insurance and they paid out without any hassle. Our tenants were great and arranged the various trades people who carried out the repair works.
Anyhow in Sept 22 we finally got to see our home. Delighted is an understatement. The quality of build is fantastic and we are so happy to be here.
This therefore leads to the final point you raised. Value. Our house has seen in excess of 100% rise in resale value over the 3 years we’ve owned it. Partly due to us being the 3rd people to close in our village, partly the increase in real estate values from covid and partly because Chitty Chatty was an island village on the outskirts of the main area. The opening of the CC bridge joined us to the main Villages. Also we (and you) are fast moving to being central and not an outlier.
So in summary - good luck and I hope you have more success than us, but even if you are on par its been one of our best decisions.