Have you read a description of a home in Florida and wondered what half of the words meant? Have you Googled the phrases “lanai” and “lot premium” to try and better understand what it all means?
Search no more, we are here to help!
If you are moving to the area from out of state, there might be some Florida-based real estate/house lingo that sounds foreign. Today, we explain what the most commonly used terms mean, how it relates to real estate, and provide examples of that specific to Lakewood Ranch, Florida.
Let’s get started!
Types of Homes
Villa (detached) - this is a single family, one story home, possibly with a side entry to the house. The layout tends to be longer and narrower than traditional Single-Family layouts.
Paired or Quad villas - these will be attached and share one (or two) walls. The end units usually have more windows versus an interior unit, and these will have
In many communities, Villas are treated as a single family home in the sense that you can add a pool or extended enclosure area. For example, the Ibis paired villas in Esplanade at Azario allow homeowners to extend their lanai and add a small pool/spool. However, they charge a bit higher of an HOA fee because they take reserves to cover roofing and exterior painting, kind of like a condo..
Condo - in Florida, a condo is usually a single story unit in a high-rise or multi level building. Sometimes there are detached or attached garages and storage space, sometimes just carports or cars in front.
Townhome-this is a multi-level, single family home. Usually the garage is the first floor and then the main living space is in the middle with the bedrooms upstairs. Mallory Park at Lakewood Ranch has unique townhomes with the garages in the back through an alley between homes, so the front of the home has a porch and standard entrance.
Apartment - a rental unit in a larger building with its own amenities and rules
Single family homes- I think this one is pretty self-explanatory..
Features in Florida Homes
Lanai- this is a Hawaiian term used for a veranda connected to the main house with roof on top and open sides. It can be used as a living area and promotes natural air circulation. Lanais are best for tropical weather that allows people to sit outside, which is why they work so well in Florida. This is generally the covered area connected to the roof in the back of the house, screened in. You can extend your lanai to include your pool and additional decking, then cover it with your screen..
Screen/Cage enclosure- this becomes an extension of your lanai because you can include the pool and additional decking, then close it in with the screen or cage.
Hurricane impact glass (windows and doors) – Seems self explanatory, but also means that you don’t need to worry about hurricane shutters, as this does the job for you. If you have the option to upgrade to this when building, I highly recommend it. Most builders include hurricane impact glass on front windows and doors, but add the back, as well, if you can!
Elevation – Generally, this term refers to the height above sea level, however, in the context of new construction in Florida, this refers to the exterior look of the home or front façade. Builders offer different elevations to make the homes look different from one another, and sometimes there are additional costs involved with choosing one elevation versus the other.
Maintenance Free -A funny term because it is definitely not free, but this is the term used in communities where the HOA fee covers all of your lawn and yard maintenance. Maintenance included might be a better way to describe it! Homes that are not maintenance free require homeowners to do their own yard and lawn care, or hire a landscaping company.
How Pricing Works
AC square feet - on a floorplan, this is the number to pay attention to. It will include all of the living space under the roof within the A/C, excluding the lanai and garage spaces. The "total living area" includes all of those extra spaces.
Base price – If you were to build the house floating in space with basic finishes in it, this is the price. It does not include the land, pool, or any interior finishes and upgrades.
Lot premiums- Now, you have to put the home on land somewhere, so the lot premium is the cost of the land you choose. A water view lot is going to have a higher premium than a preserve lot, although both beautiful. A corner lot or one that backs up to a wall, busy street, or another home will have a much lower premium. Add this to the base price of the home, as a starting point.
Design options – Now, you need to add the interior finishes to the home to make it what you want! These design options range in price for each builder. Some builders, such as Lennar, offer a few options and upgrades that would keep your design options limited, but also super affordable. For a more custom design, like with Homes by Towne, you can estimate that you will spend about 15-18% of the base price of your home on options (which on a $500,000 is at least $50,000).
Add your base price + lot premium + design options (estimate) to get a better idea of the full price. Then, add the pool if you plan to put one in! (Average pool would be about $50,000 for easy estimates)
I hope this was helpful to better understand the commonly used terms associated with new construction in Lakewood Ranch and home building in Florida.
Still have questions? Contact us today!
Phone: (941) 348-2653
Lakewood Ranch Neighborhood Close Out! | Village Update
There are currently 28 villages in Lakewood Ranch right now
20 villages are actively selling new homes
Of those 20, 8 villages are more than 50% complete, which means there are limited opportunities to build or buy in the following spots:
Arbor Grande, Mallory Park, Indigo, Esplanade, Palisades, Lakewood National, Polo Run, Country Club East
Arbor Grande was built by Lennar (CalAtlantic formerly) and is 100% SOLD OUT of Single Family Homes. There are limited villas remaining and resale options in this village.
Mallory Park is built by DiVosta and they are 80% COMPLETE. Some Single Family lots remain and a few Townhomes are still available to be built.
Indigo by Neal Communities is about 70% COMPLETE. There are some remaining single family lots to build on and a big chunk of areas for twin villas.
Esplanade Golf & Country Club us 100% SOLD OUT of new Single Family homes. There are condos still being built and resale in this village. They are also working on the new Esplanade at Azario village with many new construction options.
Palisades is more than 50% COMPLETE and they have a lot of inventory homes being built on the remaining lots. Their new Solera community is now open and selling, as well.
Lakewood National is around 70% SOLD OUT already. This is a larger golf community that is selling quickly. Home sites and condos are still available, as of now.
Polo Run has only single family homes and is about 75% COMPLETE. They have some lots remaining, but premium water and preserve lots are selling quickly.
Country Club East is one of the largest villages with over 1,300 homes and it is almost COMPLETE! Lennar has 11 lots left and only 6 are not pre-permitted. Cardel has 6 lots remaining and Neal Signature has a few spread throughout the community, but all builders in CCE are running low on remaining lots.
To learn more about these villages, check out our video tours:
Esplanade Golf & Country Club - https://youtu.be/EJduGVkjc88
Mallory Park Lakewood Ranch - https://youtu.be/3i73zM1xNl0
Palisades Lakewood Ranch - https://youtu.be/2LscGVD3_bo
Indigo Lakewood Ranch - https://youtu.be/fxFJ5orUil4
Polo Run Lakewood Ranch - https://youtu.be/i_EwUktlnQg
Country Club East Lakewood Ranch- https://youtu.be/-XPBYb02j3o
If you want to build or buy a new home in one of these Lakewood Ranch neighborhoods, contact us today before they are sold out!
We would love to help you find your dream home and welcome you to Lakewood Ranch. As a husband and wife real estate team, we are passionate about the Lakewood Ranch area. We live here, love it here, and can’t wait to share our real estate knowledge of this area with you!
Email us! Contact@chenkus.com
We are back at Waterside Lakewood Ranch! This time, we wanted to focus on the Cutter series in the Homes by Towne section of Lakehouse Cove. These are smaller homes on narrower lots in a great price point!
In this video, we tour the Beacon Model which has 2 bedrooms, plus a den, 2 bathrooms, and a 2 car garage. The highlight of this home is the wall of sliders leading to the lanai - stunning! Base price: $369,900 The model shown with all of these gorgeous upgrades on this beautiful water lot probably lands in the low $500,000s.
We also tour the Skiff Model in this second video. This home is a little bigger at 2,153 square feet with 3 bedrooms plus a den, 2 bathrooms, and a 2 car garage. The base price is $399,900 and pools can be added on most lots in the Cutter series, as well.
They have inventory homes available and lots to build on, so if you love either floorplan, call us today and we can help you make your new Lakehouse Cove home a reality!
Learn more about Waterside Lakewood Ranch: https://youtu.be/Q7zq8Dk3-FU
Looking for a larger home? See our other Homes By Towne model tours –
The Outrigger: https://youtu.be/Xclhj9IjDX8
The Tideland: https://youtu.be/7vthSvbLZZU
Contact us today to learn about other Lakewood Ranch homes! We love working with buyers and sellers in the Sarasota/Manatee County area of Florida! Looking elsewhere? We can refer you to a great agent!
About 6 months ago we did a video on a Market Update for Lakewood Ranch, looking ahead for 2020 and the new villages being constructed. If you missed it, you can watch that video here: https://youtu.be/HlHt7s8UoEA
Since then, we have done individual video updates for each of these new villages as they start construction and sales. We have visited Esplanade, Lorraine Lakes, Solera, and as of today – Windward. You can find the other videos below, and continue reading to learn more about Windward! Or visit our website page here: https://www.soldbychenkus.com/windward-at-lakewood-ranch.html
Esplanade at Azario: https://youtu.be/tDbjlLaoTt8
Lorraine Lakes: https://youtu.be/MWXg0jxBoZ4
Windward Lakewood Ranch is a brand new Neal community, set to open this fall. Homes and lots are currently available for pre-sale as they finish the models and entrance to the village.
This new construction village is set to have a variety of single-family homes and villas, as well as a variety of amenities for residents. It is located conveniently close to downtown Sarasota, Waterside Place, and I-75 in the Sarasota County section of Lakewood Ranch.
This video gives you a visual of the layout and landscape of the village, as well as additional JUST-RELEASED info on pricing and fees.
Check out our Windward page for more information or contact us below if you are interested in becoming a resident of Windward at Lakewood Ranch!
Contact us to learn more about any of these new villages in Lakewood Ranch!
Courtney & Michael Chenkus
Solera at Lakewood Ranch is a brand new DR Horton village in the Northeast corner of Lakewood Ranch, right near Lorraine Lakes. This village will consist of 675 homessites featuring single-family, one- and two-story homes.
Homes will range in size from 1,498 sq. ft. to 4,033 sq. ft, including some multi-generational living plans. Homes will be constructed with all concrete block and will come equipped with Home is Connected, America’s Smart Home package, a stainless steel appliance package, and granite countertops in the kitchen.
Homeowners will be able to enjoy state of the art amenities, including the community resort-style pool, clubhouse, and tot lot for the kiddos.
There are 14 floor plans to choose from. The smaller homes from 1,400 square feet start in the high $200s, while the largest floorplan at 4,033 square feet starts around $465,000.
Construction has started and inventory homes are currently being built. Homesites are also selling and they are working on models for this village.
These homes are not maintenance free, so you are responsible for some yard care, but the HOA fee will probably be less than $100/month and the CDD fees are around $1,133 annually, per house.
Solera at Lakewood Ranch is zoned to Gullett Elementary, Mona Jain Middle, and Lakewood Ranch High Schools.
For more information, contact us today!
Lorraine Lakes is a brand new Lennar community located in the Northeast corner of Lakewood Ranch. True to its namesake, the community is designed around many sparkling lakes, offering sweeping water and preserve views on the home sites.
The village is planned to have over 1,300 homes with 16 floorplans to choose from. It will also be highly amenitized with a clubhouse that includes fitness and aerobics facilities, social rooms, coffee bar, indoor basketball, lockers, sauna and an arcade. Outside, residents can relax beside a luxurious pool and spa and order a drink from the poolside café. Tennis courts, basketball and pickleball courts present opportunities for friendly games, while the event and sports lawn promise entertainment and a place to gather with neighbors.
Homes in Lorraine Lakes will be a part of the following collections and range in pricing, as well as size:
Price: $319,999 - $409,999 | Size: 1,849 - 3,231 sq. ft. | Approximate HOA Fees: $385
Price: $359,999 - $479,999 | Size: 2,244 - 3,867 sq. ft. | Approximate HOA Fees: $391
Price: $412,999 - $544,999 | Size: 2,361 - 3,945 sq. ft. | Approximate HOA Fees: $398
Price: $239,999 - $247,999 | Size: 1,417 - 1,564 sq. ft. | Approximate HOA Fees: $348
Construction has begun and home sites are currently selling. There will be 5 model homes, which are built but not yet decorated, and we give you a preview of the Sunset Model Floorplan in the video, above! There will also be some move-in ready homes built by December 2020, so ask us about those options if you’d like more information!
Resort Style Amenities Planned for Lorraine Lakes:
For a Manor Home in Lorraine Lakes:
Stewardship (CDD) Fee - $1,952.37 / year
Lorraine Lakes Amenitiy Fee: $125 / month (includes clubhouse and pool, tennis, sports courts, fitness center, gates, etc)
Lorraine Lakes Master Association Fee: $65 / month (maintains monuments at entry ways, clubhouse and common areas)
Lawn Maintenance, Cable & Internet: $201 / month
Total : $391 / month
Also, there is a $500 minimum spend on food and beverage at the clubhouse in a full calendar year.
Lorraine Lakes is zoned to Gullett Elementary, Mona Jain Middle, and Lakewood Ranch High Schools.
To learn more about this new Lakewood Ranch Village and the opportunity to build a home here, contact us today!
Download your free Guide here in order to start your search, today!
When you decide to move to an area like Lakewood Ranch there are a lot of choices as far as different neighborhoods, different types of homes; they have different amenities, there are different fees associated with them and all of that information can be super overwhelming if you're not familiar with it. So, we've developed a guide to help you through this process and that's what I'm going to go over today.
I'm going to share with you how to download this free guide for yourself so that you can use it to help narrow down your choices and find the best fit for you within Lakewood Ranch!
Anytime you decide to move to a new place you probably start by looking on the internet: looking up different cities, towns, neighborhoods, possibly even different states. If you’ve done all of that exploring and research, maybe you have narrowed it down to Lakewood Ranch, Florida.
What you may not realize is, Lakewood Ranch is twice the size of Manhattan and bigger than Disney World, so just choosing that location still leaves you a LOT of space to figure out where you want to live.
One of the questions we get asked most often from buyers looking in this area is: How do I know which neighborhood to choose? Well, there are a few factors that go into that and that's what we're going to help you work through with this guide to narrow down the focus and choose the right village in Lakewood Ranch.
1. Type of House?
The first question you want to consider depends on the type of house. Do you only want New Construction? Do you want to build from scratch? Or are you okay with a resale home in a neighborhood? (Now remember, Lakewood Ranch is only 25 years old so the oldest home was built in the mid 90’s and isn’t too old, just needs some modernization)
In the first part of this village guide, we break down all of the villages in Lakewood Ranch based on whether they are currently building and still have home sites available, some coming soon or new Villages that haven't started yet or have just started, newer resale which would be communities that are pretty much built out or completely built out but homes are available for resale in there that are only a couple years old, and then the older resale which would be the original Lakewood Ranch Villages like Edgewater, Greenbrook, Riverwalk, Summerfield, and Country Club. Depending on that list, you would choose the villages that make the most sense for you based on which type of home you're looking for.
The next important question to consider is: which amenities are most important to you? Most villages offer some type of amenities, but some Villages offer much more than others.
Some include golf, some only have a pool, so knowing those differences will help you determine which ones might work best for what you're looking for when you move to Lakewood Ranch.
If you want to golf everyday, then a golf community where the HOA covers your membership might be a great option for you. That would be our Esplanade villages and Lakewood National Golf Club. If that is not on the top of your list, then focus on the villages without golf memberships to keep your fees down. The most ammentized villages are Esplanade, Waterside, and Lorraine Lakes is planned to be another one.
As a side note, the Lakewood Ranch Golf and Country Club is a members-only club that you can join from anywhere, so if you may want golf or tennis but it isn’t available in the village you love most, you can always join the club separately and have that option.
3. HOA Fees?
We also share an HOA comparison chart so you can better understand how costly your fees will be each month and take that into consideration as you narrow down your choices. Some villages have fees under $200/month and some are well over $350/month, so that should factor in to your budget. Which leads us to the next question....
4. What is your Budget?
Knowing the price range you can comfortably stay within is very important and may immediately rule out some of the villages. We share a chart showing the different pricing brackets of the villages to help you understand which ones will make the most sense to focus in on. *If you are worried about getting pre-approved too early because you don’t plan to move for a while, I still recommend talking to a lender in order to get a better idea of the price range you want to look in. This is an immensely important factor, so the sooner you understand your numbers, the easier it will be to find the right location for your future home*
After reviewing all of those comparisons, you should be able to narrow down the village choices to a Top 5 List (or Top 3). These are villages that will have the type of home you want, with the amenities you want, in the price range you are looking for.
Once you have that list, you are ready to contact a realtor, plan a visit, and start looking for your home in Lakewood Ranch!
Should I rent before I buy and how do I find a rental in the place I'm looking to move? If those are questions you've been asking yourself then this is the right spot! We also share a great FREE resource at the bottom of this post, thanks to Consumer Advocate.
Today we share tips on moving to a new place and potentially having to rent for short-term, and finding a rental that works for you in order to make that process happen. Making a move from one state to the next can be exhausting; emotionally, physically, and logistically. If you have to sell your current home there might be some time where you don't have a home to live in if you're looking for a new place, or waiting to build, so the only solution in that situation may be to rent.
This is a great short-term option because it lets you immerse yourself in the community that you plan to live, potentially send your kids to the school to see if they like it, and become a part of your new home while waiting to actually be IN your new home.
So, how do you know where to look for a rental if you aren’t there in person or you're not familiar with the area?
A real estate agent can certainly lead you in the right direction, however, a lot of rentals are handled by property management companies or rental companies and sometimes it is easier to go with them directly.
Here is what we would recommend doing if you find yourself in this situation:
Step 1: visit the area and explore the location. Register yourself at the information center with the realtor you plan on working with and just start exploring the neighborhoods so you have an idea of whether or not you would like this location and where you might potentially want to live. If you decide to build, then you can get that set up and then find a rental while you wait for your home to be done. If you're still just not sure where you want to be, then you can find a rental in one of the communities that you're considering and that way you get to experience it firsthand before you find the right house for you.
Step 2: look online for some possible rentals and always double check that they are legit. One company that we recommend is Pathlight Property Management and they own properties in many different cities, which they rent out for short-term and long-term leases. They have a great website with all of this information here.
Step 3: continue searching for the right home while you're living in your rental
It's been a debate for decades as to whether or not renting versus buying is better and truthfully it all depends on your situation.
When purchasing a home you are Investing in something tangible and when you spend that money every month versus a rental where, yes you're paying to live there, but that money isn't going towards anything that could potentially reimburse you in the future.
It is also debated as to which option is more cost effective and again, that could depend on your financial situation.. However here are some fun facts to know: the percentage of your income needed to rent a median priced home is about 27.7% right now.
Rentals are pretty expensive especially in areas like Lakewood Ranch, especially, because it is desirable, so that's something to consider.
At the same time, the percentage of your income needed to
buy a median-priced home is only 17.5%
Interest rates are low so you can get a great rate and pay less, long-term, which makes this a smarter investment in most situations.
Lakewood Ranch offers some rental options as far as apartments and condos some of those include Creekside, Residences at the Green, and the Adley Lakewood Ranch. They are also opening a new single-family rental community called Estia Lakewood Ranch. This will feature 102 one-bedroom, 725- square-foot units within 51 duplexes; and 128 stand-alone, 1,000-square-foot, two-bedroom homes. It will be located off Lakewood Ranch Boulevard adjacent to Bob Gardner Park.This might be a great solution if you do not need a lot of space in your rental.
You probably have other questions about mortgages and rates that might help make this decision easier, so we teamed up with Consumer Advocate who did a great job putting together an all-inclusive guide about the mortgage industry and how current rates are impacting buyer’s decisions, and how you can shop around for a home from home in this new era of covid-19 precautions.
Their strategic guide uncomplicates concepts of the mortgage market that are up to date with the economic state of the industry. By using simple terms and infographics, it is easy to understand your options and narrow down what will work best for you, as a buyer.
Download your free guide here.
For more questions and information on how to make the best decision for you, contact us!
We are happy to help!
Mallory Park at Lakewood Ranch is a gated village of single-family homes and town homes nestled around 36 acres of wetlands and lakes. Located off Lakewood Ranch Boulevard north of State Road 70, Mallory Park is one of the newer villages in Lakewood Ranch inspired by a Coastal/Island feel. Homes are designed with a soothing pastel palette, which differs from the neutrals and beige seen in many communities.
Built by DiVosta, Mallory Park at Lakewood Ranch offers a wide variety of floorplans and options with over 400 home sites in the village. Today, we take you on a village tour of this neighborhood and introduce you to the Creekview Model.
Amenities in Mallory Park:
Homes for sale in Mallory Park range in size from 1,800 square feet to over 4,000 square feet of living space. Pricing starts in the low $300s and there are both single-story and two-story plans available.
Town homes for sale in Mallory Park range from 2-4 bedroom plans with an optional third floor. The plans offer 1,600 to 2,000 square feet configurations with pricing starting in the high $200s. All homes are designed with open floor plan to optimize living space for families.
To view current homes for sale in Mallory Park, check this link:
To see other villages in Lakewood Ranch, watch our playlist: https://www.youtube.com/playlist?list=PL9SUJR4DbeL4_hxMa1e4KeaRXA-7aWser
Hurricane Preparedness in Florida
June in Florida brings around thoughts of summer, as well as concerns over the beginning of Hurricane Season. Each year, the next five months conjure up some pretty nasty storms, typically peaking in August and September. 2020 is shaping up to be a busy year for storms, so we wanted to share these tips to help you and your families prepare.
How likely is it that a Hurricane will make landfall in Florida?
On average, only one to two hurricanes make landfall on the eastern coast of America every year, and of those, only 40 percent actually hit Florida. Generally, the Florida Keys are the most vulnerable and any coastal towns, depending on the track of the storm.
The Lakewood Ranch area is far enough inland that we do not need flood insurance, so the main concerns during hurricane season are high winds, losing power, and lightning. The lightning is no joke, either. They don’t call us the Tampa Bay Lightning Bolts for nothing! Sometimes we just sit and watch the lightning outside – it’s like free entertainment! Anyways, I digress. In our experience, the storms typically take the shape of very intense thunderstorms and sometimes have potentially damaging winds.
On the (semi) bright side, the benefit to hurricanes is that they are tracked for long periods of time prior to making impact, giving you plenty of time to prepare your home and yourselves, or evacuate if needed.
The majority of the homes in Lakewood Ranch are new and therefore meet the most recent standards of building. Homes built on or after March 2012 can withstand winds of up to 150 mph, or a Category 4 hurricane. Homes built between March 2012 and March 2002 can withstand winds of up to 130 mph, or a category 3 storm, in Manatee county, and homes on the coast built before March 2002 can only handle winds of up to 110 mph, or a Category 2 storm. If the home was built in Manatee County prior to March 2002, it may only be able to handle winds up to 90 mph, or so. Knowing when your home was built can help you to be more prepared for the potential storms.
What supplies should you have on hand?
The Division of Emergency Management in Florida recommends having at least 7 days of supplies like food, water, medicine, batteries, etc in case of a true emergency. Here is a checklist of items they recommend keeping in your Hurricane Kit, or just having on hand this time of year: https://www.floridadisaster.org/globalassets/plan--prepare/disaster-supply-checklist.pdf
They also recommend having a plan in case you do need to evacuate, and there is a helpful resource they provide for residents based on their address: https://apps.floridadisaster.org/getaplan/
Hurricane shutters come with most new homes in the area, unless all of your doors and windows are impact-proof, in which case you do not need the shutters. If a hurricane is predicted to make landfall and be dangerous, the county will issue warnings and you can decide if you want to put up your shutters or just secure any lose furniture or items.
There are hurricane shelters designated for each area, and you can find that information here: https://www.floridadisaster.org/planprepare/shelters/
Each year, Florida has a tax-free week for residents to buy the necessary supplies on their hurricane checklist, which is a wonderful way to remind everyone to stock up!
We cannot predict how bad the season will be, so it helps to be prepared and have a plan! For more information on Hurricane Prep in Florida, contact the Florida Division of Emergency Management or visit their website for all disaster preparation details: https://www.floridadisaster.org/
Contact us with any questions! We are always here to help!