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The cost of your Luxury home in Florida is broken down into a
number of components - you will quickly learn that the Americans
itemise each item of expenditure - so that you know what you are
getting and how much it costs!
Essentially the cost of your house is therefore:
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1.
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The
freehold for the plot of land (or "Lot") where your home will
be built. |
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2.
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The
construction cost of the building itself, fixtures and
fittings. |
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3.
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Any
optional extras you choose to buy. |
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4.
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Closing costs. These are administration charges, each one
itemised separately. |
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5.
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Furniture
Package. |
When you decide to reserve your plot of land, it is usual for a
$1,000 deposit to be made through your realtor. There are a
number of advantages to be gained from making this payment:
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A. |
This will
normally crystallise the purchase price so that your
expenditure will be unaffected by any subsequent increases in
the advertised price of the house. |
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B. |
You are not committed to the
purchase of the house at this stage and will not be committed
until you have signed the legal documents that form the basis
of your contract with the house builder. |
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C. |
The $1,000 secures the plot of
land and prevents someone else acquiring your preferred site
before you get to Florida to view the estate itself. |
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D. |
The $1,000 is returnable in the
event that you decide not to proceed with the purchase. |
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E. |
If you visit the site and decide
that you would prefer a different plot, the $1,000 can be
transferred to the new plot, so you don't lose out. |
Some time after that, normally within 5 weeks, you will be asked
to pay additional funds amounting to 10% of the combined cost of 1
- 3 above, less the $1,000 deposit already paid. The builders
will then schedule your home building into their works.
On
the day that you take possession of your brand new luxury home,
you will have to pay a further 10% plus closing costs at 4 above.
Some builders give cash back on closing to help with closing costs
- please ask us for details of current offers as they are
continuously changing.
The cost of the furniture package must also be paid. For a 4
bedroom house, the cost of a furniture package is typically
$12,000 - $15,000 which will provide everything you need to
furnish your new home - beds & bedding, crockery & cutlery,
electrical appliances and soft furnishings, etc. This can
sometimes be included within the cost of the building, separately
financed, or, of course, paid in cash on closing.
We
can give you much more information about the choices you will face
in relation to costs. Please get in touch for further
information. |
