Purchasing A Lot In PSL (Port St. Lucie, Century: get credit, construction loan, estate)

[Moving2SPL]

Hi all!

I am new to city-data.com. I had researched this forum to see if anyone had posts any threads about residential lots in PSL. So far i was only able to see threads about existing homes and about the housing market. My story is pretty simple, I am looking to move from NY to PSL next year around June '08, but i am looking to purchasing a residential lot now (.25 or .30 acre size lot) and build on it late next year (perhaps around September or October '08). I plan to rent an apartment when i move and keep my major type of furniture in storage until my home is complete.

I am currently looking for a lot in a neighborhood with new homes. But as i had been told by Century 21 and by a builder company, that it is pretty difficult to purchase a lot in area like this in a non-gated community for a decent price . I am currently looking around SW section of PSL. The century 21 agent is trying to show me lots around the South Central area. I had visited the area about four times now, so I am not really familiar with the area . I am looking to build a home with a size btw. 2200 to 2400 sq. feet (living) next year, so i am looking for a lot that are near homes that are within this size.

Does anyone know of a great location where i can find lots that meet these requirements that are located new homes?

Also, i had heard some horror stories about one of the home builders. Can anyone give me any feedback on which home builder i should check out. I had checked out Mercedes Homes (i saw some really bad feedback about them), Royal Professional Builders, Renar Homes, Lennar Homes......etc.

[Moving2SPL]

BUMP, Bump, bump

[Lilybeans]

You will definitely need to drive around and put the time in to find a lot. Really do the research, especially in the SW part of town, where they are always talking of condemning property to build roads and commercial areas.

As far as builders, you will have to ask around. I would go with a small builder, but you really have to do your homework. Ask for the last four people the builder built a home for, and then go talk to them. Rennar, Lennar, I'd stay away from them. Lennar is a big national builder.

It will definitely take some time if you do it right.Also, contact the county and city building departments and try to track down if there have been any problems with the builders.

what do you consider a decent price? If it was me, I would buy something existing. You won't have the stress and headache of building, and you'll probably save money, especially now. Also, you'll know what is around you.

[Moving2SPL]

Originally Posted by Lilybeans

You will definitely need to drive around and put the time in to find a lot. Really do the research, especially in the SW part of town, where they are always talking of condemning property to build roads and commercial areas.

As far as builders, you will have to ask around. I would go with a small builder, but you really have to do your homework. Ask for the last four people the builder built a home for, and then go talk to them. Rennar, Lennar, I'd stay away from them. Lennar is a big national builder.

It will definitely take some time if you do it right.Also, contact the county and city building departments and try to track down if there have been any problems with the builders.

what do you consider a decent price? If it was me, I would buy something existing. You won't have the stress and headache of building, and you'll probably save money, especially now. Also, you'll know what is around you.

Thanks Lily for replying. I tried doing research over the web but couldn't find much about the residential areas in Port st. lucie. I am trying to seek help by using Century 21 and some other companies, but they are just going to show me around expensive areas. I am looking to purchase a lot that doesn't exceed $55,000. In an area with new homes and homes that have 2200 to 2400 sq. feet in living. I also prefer to have a lot that is close to the to turnpike and I:95. I am going back there this Friday and i wanted to narrow down my search by targeting certain neighborhoods.

Why did you say to not select big builders? I had heard some big builders have great reputations in PSL, such as Pulte/Divosta. Have you heard anything bad about Renar Homes? And Lennar Homes?

[Lilybeans]

Pulte, Divosta, Lennar all build projects, not individual homes for a buyer on the buyers own lot. I'm not sure about Rennar, because they are a smaller local developer, but still do projects. You will never see the owner or deal with them. you are just a number. A small builder will do the job and do it right.

One caveat-do not give them the money up front. There is a huge problem with builders getting money up front and doing nothing. Don't give them more than 10%. If they cannot get credit for materials, then you are looking at problems. If you get a construction loan through a bank, you will have better oversight.

Port St Lucie is all residential, until something commercial pops up near you.
There is ane western corridor to Martin County coming soon, so any areas near that may soon end up more commercial. Watch out for that.

[Moving2SPL]

Originally Posted by Lilybeans

Pulte, Divosta, Lennar all build projects, not individual homes for a buyer on the buyers own lot. I'm not sure about Rennar, because they are a smaller local developer, but still do projects. You will never see the owner or deal with them. you are just a number. A small builder will do the job and do it right.

One caveat-do not give them the money up front. There is a huge problem with builders getting money up front and doing nothing. Don't give them more than 10%. If they cannot get credit for materials, then you are looking at problems. If you get a construction loan through a bank, you will have better oversight.

Port St Lucie is all residential, until something commercial pops up near you.
There is ane western corridor to Martin County coming soon, so any areas near that may soon end up more commercial. Watch out for that.

Thanks Lily. I will look into that area.

[TriMT7]

Southwest PSL will be close to the Turnpike via the new Becker ramp, but not necessarily close to I-95.... depending on how "South" you go.

Can you give us an example of what you mean by "Southwest" --- South of Gatlin? South of Parr? St. Lucie West area?


It WILL be hard for you to find an area with all new homes that isn't an ACTUAL subdivision - there aren't even really "neighborhoods" in Port Saint Lucie, though some people have tried to distinguish between the areas: Parr Estates, for example, may be an area to ask your realtor about. Not sure about lot prices in the area, though. (Lots could be bought for around $3000 in 2000 in Western PSL.... now the prices are still ridiculous. It MAY be worth sitting and waiting to see what prices will do before buying a lot now at an inflated price).

Best advice is simply to GO to the area, and take a look at the houses surrounding the lot. Some areas were more recently developed than others, and down near Becker Road/Tesoro area is one of those areas worth looking into.

Oh, and stay away from Majestic Homes and Island Shore Homes (if they're even still doing business in the area)!

[Moving2SPL]

Originally Posted by TriMT7

Southwest PSL will be close to the Turnpike via the new Becker ramp, but not necessarily close to I-95.... depending on how "South" you go.

Can you give us an example of what you mean by "Southwest" --- South of Gatlin? South of Parr? St. Lucie West area?


It WILL be hard for you to find an area with all new homes that isn't an ACTUAL subdivision - there aren't even really "neighborhoods" in Port Saint Lucie, though some people have tried to distinguish between the areas: Parr Estates, for example, may be an area to ask your realtor about. Not sure about lot prices in the area, though. (Lots could be bought for around $3000 in 2000 in Western PSL.... now the prices are still ridiculous. It MAY be worth sitting and waiting to see what prices will do before buying a lot now at an inflated price).

Best advice is simply to GO to the area, and take a look at the houses surrounding the lot. Some areas were more recently developed than others, and down near Becker Road/Tesoro area is one of those areas worth looking into.

Oh, and stay away from Majestic Homes and Island Shore Homes (if they're even still doing business in the area)!

Hi Tri! I was looking around the south of Gatlin area. Do you think $39,000 is a reasonable price for 1/4 acre lots? I thought the prices around that range are kind of reasonable and thought that the prices probably will not decrease from $39,000 because of the new businesses that are coming around on or near Gatlin blvd.

Please let me know your thoughts.

[Lilybeans]

Originally Posted by Moving2SPL

Hi Tri! I was looking around the south of Gatlin area. Do you think $39,000 is a reasonable price for 1/4 acre lots? I thought the prices around that range are kind of reasonable and thought that the prices probably will not decrease from $39,000 because of the new businesses that are coming around on or near Gatlin blvd.

Please let me know your thoughts.

I read in the paper that they are talking about making Gatlin 6 lanes, initially near Tradition, but I'll bet it will extend. That means increased traffic, noise, etc.

[Moving2SPL]

Originally Posted by Lilybeans

I read in the paper that they are talking about making Gatlin 6 lanes, initially near Tradition, but I'll bet it will extend. That means increased traffic, noise, etc.

Actually i heard the same thing from the person i was working with in Century 21. I guess that is why he was trying to sway me to find something in South Central part of Port St. Lucie (one of the lots is on Elba) I haven't even visited that part of town. Unfortunately, it appears that some of the sellers in that area are still holding onto those ridiculous prices for a 1/4 acre lot for $85,000, which is pretty steep for such a small size lot. Maybe it is best i wait if i am looking in that particular area. I will have a more clearer view of the locations when i go back this Friday.