New "Tear Down" Brochure

BUILDING A NEW

HOME

The Process Building a new home in paradise is an exciting venture.

It allows you to find a floor plan that meets your needs, and select all the personal items that go into it, including counter-tops, appliances, paint colors, flooring, window coverings, and more.

It does require more involvement than purchasing an existing home, since there will be a variety of decisions that need to be made along the way. Most builders and architects in the area are accustomed to working with clients who live in another area while building a second home. They use various tools to communicate with these clients, including phone, email, Skype, photos and/or video updates of construction, and more.

There are also construction managers who will coordinate the various professions involved. Quite often, architects serve as construction managers to ensure that the builder completes the home in the manner you desire.

Cost Estimates In SW Florida, lot purchases are quite often accomplished via a “tear down”, which is the purchase of an older home for the purpose of building a new one. This is the result of many prime areas no longer having vacant lots available. Tear down homes vary greatly in price but, as an example, currently range from approximately one to five million in some of the key areas.

In addition to land purchase price (the tear down home parcel), you can expect some of the following costs:

• Tear down of home and hauling away rubble – approximately $20,000 for a typical non waterfront Moorings or Park Shore home, with companies such as Honc Destruction.

• Additional fill dirt. Current flood level requirements for the floor height of the home are higher than they were 30 or 40 years ago. Therefore, the foundation of home must be built at a higher level. This is typically accomplished with additional fill dirt, which can be in the range of $20,000 to $25,000.

• Architectural – the floor plan inserts herein are standard plans from Dan Sater Architects, a firm that has

been designing in this area for many years. The Sater firm sells the complete set of architectural plans to you for approximately $4,000 to $5,000. You may want to pay the firm to do some

semi-customization of an existing plan.

Alternatively, some purchasers want to build a total custom plan. The Sater firm is available for such a project, or your John R. Wood agent can make additional architect recommendations to allow you to compare.

Continued on next page.

• Engineering & Construction – The approximate costs listed on the back cover include engineering and construction. Building costs can vary greatly depending on materials, finishes, volume of built-in cabinetry, etc.

Some waterfront or other lots may also require pilings. The builder estimates shown include a home with appliances, painted inside and out, and with floor coverings. These items are delivered at typical levels, such as wood, carpet, and tile floors. If you wish to add more custom items such as imported rare marble tile, it will obviously increase the cost.

There are a number of high quality builders that operate in the Naples area. Please speak with your

John R. Wood agent for recommendations.

• Window coverings – the builder typically allows the homeowner to purchase this as a separate item, after completion of the construction. The costs can vary greatly but are generally in the range of $10,000 to $15,000 for a home in the Moorings/Park Shore area, or higher depending on materials, level of

customization, number/size of windows, and other factors.

Continued on back page.

Bring Your Highest Expectations

Cost Summary Estimate Home site cost Tear down of old home Architectural Plans Fill Dirt Home Construction Including Pool Package & Landscaping.

$1,100,000 $5,000 $20,000 $1,050,000 3,500 SF (living area) @$300/SF (cost could vary but this is believed to be a reasonable estimate)

Window Coverings

$15,000

Reserve for Contingencies

$60,000

Total

Summary

$20,000

If you are considering the purchase of an existing single-family home in the range of $1.5 to $3 million, you may wish to consider the alternative of building a new home, at a price that will likely fall in the $2 to $2.5 million range.

It’s always fun to move into a brand new, never lived in home!

$2,270,000

Bring Your Highest Expectations ™

Also including floor plan inserts

Manchester

Manchester 3331 Sq. Ft. Total Living

Salcito

Salcito

3458 Sq. Ft. Total Living

Jaster Park

Jaster Park 3674 Sq. Ft. Total Living

Š The Sater Design Collection, Inc.

Verrado

Verrado

3995 Sq. Ft. Total Living