It has been 5 years since the first house was completed in Aventura Isles… Can you remember that day?

Aventura Isles homes During Pre-sale

Aventura Isles is a development of houses that ENCORE HOMEBUILDERS offered in pre-construction in the middle of 2012. Prices and payment terms were really attractive and quickly attracted a local and international market of buyers.

Prices started around $200,000 (1,780 sq ft) for 3 bedroom houses and $285,000 for 5 bedrooms (2,450 sq ft).

The central location with access to the major expressways, the proximity to Aventura Mall, beaches, restaurants and more, ensured the success of the complex.

To reserve a house in the sales office a deposit of $500 reserved the house and secure its price. If the person decided to withdraw their offer before the signing of the purchase contract, their check will be returned without any questions.

In the sales offices, they rotated four bank and mortgage representatives to help facilitate loans for the properties. Those who applied were offered a $2,500 discount on closing costs with the title company. 

Buyers approached the developer’s sales office to work with the builder to select between 12 models, the house and the lot where it would be located. Additional cost options were: lake view, lot size, the model of the pool, the appliances, the finishes of the floors and bathrooms, and others.

In August 2013 they had already delivered houses in phase I, phase II was under construction, and was gradually placing signage, connecting the internet, lamp posts, landscaping, paving the streets, community pool, playground, the roads and placing the mailboxes.

The townhomes located at the entrance of the complex went on sale once all homes in phase II were reserved. During pre-sales, the townhomes ended up costing close to the same price as the big houses cost in the beginning.

The townhomes sold quickly as they were a great option for people who didn't buy a home during the pre-sales process. When people saw how quickly the homes sold, the townhouses were the next best option. It was also an opportunity for people who just learned about Aventura Isles to get involved by buying a remaining townhouse. The developer offered $10,000 in upgrades to the Design center as an incentive for the purchases.

The general feedback of the people that came to see the project and decided not to buy originally was a feeling of missing the opportunity to own a comfortable home with the South Florida lifestyle at an affordable price.

Aventura Isles houses in re-sale

Today the complex is completely finished, the owners that have decided to sell have had to face the condition or penalty that the developer put in the documents, if they sell before 3 years of delivered the house. 

For example, if the house is sold in the first year they have to pay a 10% of the original purchase price to the developer, the second year 8% and the third year a 6%. After the third year there is no penalty. The penalty applies only to the first resale.

Each owner that is thinking of selling should review the purchase documents to make sure you know the date on which the conditions apply and the percentages applied to calculate the profit margin or possible return when selling the house. This will help buyers understand their options when they’re ready to sell.

Aventura Isles 5ft Anniversary

In August 2016 it was 5 years since the first houses were delivered and people moved in to Phase I homes. 

Gone are the times when Aventura Isles didn’t appear on the map. You had to ask visitors and package delivery services and moving truck workers to use Google Maps to avoid getting lost, as there weren’t any street names and addresses on the houses. The US Postal service did not deliver mail to houses and owners had to go to pick it up at the office ten minutes away from Aventura Isles.

"This month we have 3 years living in Aventura Isles"
- Officially the first buyers and residents -- Aventura Isles Newspaper May 15, 2016

We are proud to participate in the community and serve as real estate agents to clients, neighbors and friends.

Thanks!
Daniel Gutt and Susan Milgrom Gutt