All Forum Posts by: Pedro Florentino

Hello everyone, 

I have a home that was build in 1929 and in great condition.  I live in Miami and insurance is extremely high.  I spoke with my agent and one of the reasons is that the house is an older house.  Considering the option of tear down and build a new house, I was wandering if there's an average percentage difference in insuring a new home vs an older house?  

@Doug Smith

Yes, certainly a great suggestion for building knowledge on speculative development projects. This will be for my primary home so will really lean on an architect/engineer.  I have a small investment project development in Boston currently on hold that I will certainly consider the partnering principal for.  

Thank you
  

@Adrian Lemus

Thanks for the confirmation, of course depending on finishes cost could be higher.  Glad to know that I'm in the ballpark range.

@Branden,

I agree, I though that I could save time and money by finding a templated design but that may not be the case.  

Thanks for your input.

@Chris Bonner, 

Very good information.  My view of an eco friendly is a house that truly takes into consideration the form-function rule of architecture.  Takes into consideration angles for proper sunlight, wind flows, heating and cooling and incorporates the trees and surrounding natural surrounding.  In Miami I see too often boxy concrete block homes that take up most of the lot with no unique design.  Awful use of space.     

You point out a great deal of valuable information.  Based on my knowledge, your opinion, and what others have said; it may be best to hire a reputable architect as the builder will most likely outsource the design and mark up the cost.  The Architect working directly for me will provide me with more leverage and peace of mind. 

Thank you
 

Hi Jacob S. 
correct, labor in Miami tends to be less than other areas of the country such as NE or W coast.  Construction is primarily concrete block so not as expense as lumber.  

Hi Jacob

Thanks for the response. I’m going to speak with some builders and see what my options are.  I’ve google around those are the estimates I found. Let’s see what builders have templates and prices for custom homes.  

Thank you 

Hello everyone, and thanks ahead of time for your help and advice.  

 I'm looking to build a 2500 sq ft two level ecofriendly single-family home which incorporates natural surrounding into the design, I'm trying to figure out what my cost should be for architectural plans: elevation, floor plan, mechanical, plumbing, electrical, etc.  

I assume that it may also be cost effective to go with a builders templated design as the design docs have been completed and approved by city? Alternatively, I could go with a custom design; what should be a ballpark price for all architectural and construction related plans?  

also, I'm assuming an average construction price per sq ft of approximately $225 - $250 with moderate luxury finishes.  Does this sound feasible? 

@Mayra Mangual I'm in the process of acquiring a property in Las Terrenas and what I've learned is that financing in DR can be very costly.  You may want look at other type of financing in the US if you have equity.  Here are the quotes I received from Scotiabank who is a big player in the country:
Fija means interest rate in spanish. 

8% Fija durante 1 año
9.95% Fija durante 3 años
10.95% Fija durante 5 años
11.95% Fija durante 10 años
12% Fija durante 15 años

They will finance upto 25 yrs based on value.  

Thanks Mike, 

I'm optimistic; I believe the area will boom soon with Americans tourists.  

For investment purpose and personal enjoyment I plan to look at town houses or gated developments by the beach in playa punto popy.  Would love a dream house on the hills but I hear those don't rent as easily as the properties by the beaches. May not be wise to buy a hilltop house unless I plan to spend a lot of time there.  

Other options I considering is a beach front lot or close to beach to build a house.  What's your recommendation to maximize value?