Signature Homes at Baywood blends affordability with luxury
Starting the summer with new deals on single-family homes as well as town houses, affordability in the neighborhood is at an all-time high, said Lattanzi. Accompanied by an almost unending list of amenities – boat marina, driving range, full-service clubhouse, landscaping maintenance and more – the community is garnering attention from buyers all over the East Coast.
Lattanzi said a trip to Baywood results in love at first sight for many home buyers, but the mention it is a land-lease community has done its part to doom a number of potential sales. In fact, the hardest part of his job has been explaining to people the ins and outs of ownership at Baywood and why a land-lease simply makes more sense than a conventional transaction.
“When people arrive here, they know it is a special place,” said Lattanzi. “They see large, new homes for low prices. They see our award-winning golf course. They can’t wait to move in and start living the Baywood lifestyle.”
But even with one foot in the door and personalized welcome mats for their new homes in hand, customers often take a step back before signing a Baywood land-lease contract. The problem, said Lattanzi, is not in the method of sale but rather in the fact that the ownership method is such a new idea.
“People don’t understand land-lease at first, because for the most part, it is a foreign idea to them,” he said. “They think because they don’t actually own the land itself, they are missing out on something.”
This is far from the truth, said Lattanzi, who noted the people who end up buying homes at Baywood – real estate brokers, property attorneys and financial planners – are often the most educated buyers. He said that instead of paying exorbitant amounts of money on land itself, customers have found they can afford to put more money into buying a bigger home.
The second concern customers have encountered has been a monthly fee in compliance with the land-lease. Starting at $450 a month, many home buyers have initially been wary of the charge.
“We explain to people that it is just a small fee, similar to a homeowners fee,” said Lattanzi. “The leases and the lease payments are extremely friendly here. People who don’t buy at Baywood because they aren’t sure about the land-lease are missing out on a lot.”
Lattanzi said, however, that after explaining the shortest-term lease is 40 years and is perpetually renewable, buyers once again become relaxed. After seeing the fee gives them access to pools, fitness centers, marinas, playgrounds, sports grounds, numerous free community activities and landscaping services, buyers are quick to sign the agreement.
With homes from $199,000 to $649,000, the community is accessible to a wide range of buyers. Because the land-lease allows more money for purchasing homes, said Lattanzi, people have been surprised to see what they can afford.
“People find it unbelievable that they can afford to live at Baywood for under $1,500 a month,” he said.
The new BayCourt Villas, for example, offer three bedrooms and two and a half baths in a townhome setting for under $200,000. The 1,900-square-foot homes also include a large garage and have a central location in the community.
With single-family homes up to 3,600 square feet, adorned with verandas and the newest features, just about anyone would enjoy living in such a luxurious setting, said Lattanzi. More than 300 people current reside there. Nine new holes are being completed at the golf course, and a golf cart is given to every buyer to cruise the neighborhood.
“What people are really buying when they come to Baywood is a lifestyle,” said Lattanzi. “If you want to enjoy life to the fullest, you belong at Baywood.”
Visit Signature Homes at: baywoodliving.com or call 866-556-2299
