Why are the homes at Vista View Resort so reasonably priced?
The home sites at Vista View Resort are used and occupied on a very long-term exclusive lot agreement. The cost of the land is not included in the cost of the home. Buyers at Vista View Resort do not incur the high upfront cost of including the outlay for the land in the purchase price of the home. Residents instead pay the developer a monthly resort fee for the use of the property, the rate being similar in cost to association fees at other resorts. This resort payment covers all costs attributable to the use, operation, and maintenance of the resort as well as the payment of the property taxes for a site-built home.
What is the resort fee rate?
Resort fees can vary depending on the lot. Premium lots are charged $35.00 more per month than what applies to mid-block lots.
What are the standard home features?
Please click here to see our custom-crafted features, energy-saving features, and kitchen and bath features.
Does the resort fee ever increase?
In no event shall the percentage increase per annum exceed the CPI Index (Consumer Price Index for Owner’s equivalent of rent of residents in West urban, all urban consumers, not seasonally adjusted) plus five (5%) percent over and above the increases resultant from that CPI Index to provide for other non-indexed increases such as increased for insurance, extraordinary maintenance, and/or deferred maintenance, necessary capital replacement, and increased costs for common area utilities.
Will I have to pay a homeowners association fee too?
No. There is no homeowners association at Vista View Resort. The resort fee payment covers the exclusive use of the land plus all maintenance and repair of all common areas, roads, lighting, community center, recreation facilities, and gated security.
What other costs will I incur besides the resort fee payment?
You will need to maintain homeowner’s insurance and name Vista View Resort LLC as an Additional Insured party. Homeowners are also responsible for normal maintenance of their home, grounds, and all utilities.
What happens to the exclusive lot use agreement if I decide to sell my home?
Your home can be sold at any time. The Buyer will need to enter into a new exclusive lot use agreement and meet all age requirements.
What are the advantages of land lease contracts?
The most significant benefit of a land lease is that the purchase price is almost always much less than that for a home bought in the traditional manner. Not buying the land saves money, which enables you to buy a higher quality home in a more expensive residential area than you might otherwise be able to do. Also, because you don’t own the land itself, it is the resort’s responsibility to pay property taxes. Typically land lease homes are part of residential communities that provide common services and facilities. Amenities may include private clubhouses, swimming pools, fitness centers, conference rooms, and so forth.
What are the age requirements at Vista View Resort?
If more than one buyer, at least one buyer must be 55 years or older to purchase a home. If you have special situations or concerns, please contact the sales team.