Building or Buying?
For Europeans, the purchase of a property in Florida currently offers an excellent value-for-money ratio. Due to the recent economic crisis, real estate prices in Florida have dropped by 40% and are back at the 2003 levels. Furthermore, the exchange rate between Euros and US dollars is very favorable.
However, it’s become more and more apparent that there is a lack of supply in the upper market segment, especially in Southwest Florida. The hunt for prime properties in Cape Coral and Fort Myers has already begun. Many buyers therefore decide to build their vacation home.
The advantages are clear: For one thing, you’ll be able to design your vacation property exactly how you want it. You don’t have to make compromises with existing floor plans or features. In addition, your home will meet the current building code (e.g. for insulation and hurricane protection) and will be equipped with modern and efficient technology. New construction makes sense from a financial standpoint, too: The cost is quite comparable to the purchase price of an existing property. Plus if you plan on renting the home out to vacationers when you’re not using it, newer homes typically rent a lot better than older properties.
Building in Florida
Palladio Homes will build your home as the General Contractor. This makes things very easy: All the services are provided by a single source, and you work with one contact person. We’ll apply for all the necessary permits on your behalf, coordinate all the craftsmen and subcontractors, and complete your dream home on time and without any cost overrun!
Here’s How It Works:
If you already own a lot, we’ll verify the conditions for the upcoming construction. If you don’t own a lot, we will be happy to help you find the perfect piece of vacant land.
In cooperation with our architect and after intensive talks, your ideas will take shape in a preliminary draft. As an alternative, you can modify one of our existing models based on your individual needs and create your dream home. Based on the preliminary draft, your change requests will be incorporated into the first drawings of your new home in Cape Coral, Fort Myers or Sanibel Island.
In close cooperation with you, every amenity of your new home is selected. You pick out items such as flooring, wall coverings, roofing, colors, bathroom fixtures, fittings etc. in our design center in Cape Coral.
We’ll provide you with a fixed cost calculation – move-in ready, including any necessary side work such as seawall (in case the property does not have one yet), water and power lines to the boat dock, landscaping etc. Permitting fees are also included.
New Construction Contract:
The contract will determine the payment schedule, based on the individual construction phases, and the initial deposit.
Once the final plans for your dream home have been approved, we submit them to the appropriate authorities in adherence to the Florida Building Code, together with any other documentation required for the permit.
Start of Construction:
Once the permit has been granted by the authorities, it’s time to turn the first sod on your piece of land for your dream home. From the beginning of construction to completion, you’re looking at a time frame of about 6 months.
Supervision and Inspections:
We’ll keep you informed regularly about the successful inspections of the individual craftsmen’s jobs by the authorities. We´ll keep you updated about the construction progress with information and photos. You’ll be able to easily follow the progress while relaxing at home.
Certificate of Occupancy (C.O.):
Once all the construction is completed, a final inspection for the Certificate of Occupancy will be held.
After the C.O. has been received, a final walk-thru will take place with the new home owner. Any necessary repair work or corrections will be documented in a so-called “punch list”.
As soon as the corrections noted on the punch list have been completed, you can furniture the house and move into your dream home in the Sunshine State.
Your Dream Home is Done – Now What?
Do you need help selecting furniture or don’t have time to take care of the furnishing and decorating of your dream home? No problem! Leave the interior design to our partner West Elm in Estero. Based on your preferences and budget, one of West Elm’s professional interior designers will provide you with an extensive concept for furnishing the home. Once you accept the concept, there is nothing further you need to do! After arranging the date with Palladio Homes, West Elm will deliver the furniture to your new home and complete all the assembly and arranging that may be needed. When the keys are handed over to you, you can move right into your fully furnished dream home! And, as a customer of Palladio Homes, you’ll receive a 10% discount off the total amount!
Typically, your dream home will be looked after by a professional property management company. The company will hire pool and lawn service, organize pest control, empty the mailbox when you’re out of town, forward bills, ensure that everything is in working order inside the home, and if necessary order repairs. Please contact us – we’ll be happy to recommend several reliable local property managers!
Cape Coral is a very popular destination for visitors who prefer to rent vacation homes. The city has an established seasonal rental market, and most home owners decide to rent out their property during the times they’re not using it. You can either advertise the home yourself or leave the marketing to a professional agency. Newer homes in particular are very much in demand and often booked up months in advance. A high occupancy rate will ensure an excellent return on investment! We’ll be happy to refer you to a professional and reliable company who will handle the rentals for your dream home!