If you’re considering a new custom Florida home, you might be curious about comparing the value of a floor plan here to a similar-sized new home in another part of the U.S. That value could involve location, price per square foot, access to amenities, and more.
We at ICI Homes were curious too, so we fired up the internet. Specific research yielded interesting results, and we’re sharing what we found.
It’s not precisely honed spreadsheets, but it IS real-life data that might help our customers determine the value of a new custom Florida home.
We began with these parameters — a new three-bedroom, three-bathroom home for approximately $500,000 — and looked northeast in the Newport, Rhode Island, and Boston, Massachusetts markets.
Allow us to walk you through our findings.
What we found near Boston
One of the major metro areas on the Atlantic seaboard also is extremely historic, vibrant and located near the Atlantic Ocean, just like many ICI Homes communities further south in Florida.
That big major-metro factor also is why we had to look further out to find matches for our three-bedroom, three-bathroom, $500,000 parameters. We ultimately ended up increasing the price range and widening our search area in order to find homes that fit our other parameters.
In Peabody, approximately 20 miles north of Boston, we found a year-old new home of 2,000 square feet, built on.18 of an acre, without a garage, in what appeared to be an established neighborhood. At the time we examined it online, it recently had sold for $590,000. The price per square foot was $295.
In Lynn, in approximately the same area north of Boston, we also found another year-old new home, this one at 2,310 square feet, with a two-vehicle garage, on a third-of-an-acre lot. At the time we examined it online, it recently had sold for $600,000. The price per square foot was $260.
Neither Boston-area home appeared to be in neighborhoods with organized resident amenities.
What we found in Narragansett, Rhode Island
Like many Florida communities where ICI Homes builds, this historic, picturesque city is located near the Atlantic Ocean.
Only 14 miles and 25 minutes west of historic Newport, in the beach community of Narragansett, we found a classic, 2,102-square-foot New England-style home built in 2019. It sits near saltwater in the Bonnet Shores neighborhood. This year-old home with three bedrooms, 3.5 bathrooms and a two-vehicle garage occupies a 7,301-square-foot lot.
At the time we examined it online, it recently had sold for $670,000. The price per square foot was listed at $319.
There appeared to be no resident amenities with this development.
What we offer in the Daytona Beach area
For comparison, let’s examine a recently sold Vienna floor plan at Plantation Bay Golf & Country Club, our master-planned community in Ormond Beach. The base plan of the Vienna is 2,157 square feet, with three bedrooms and two baths. It starts at $386,400 when built on a 60′ lot in Plantation Bay.
The home in question was loaded with upgrades and originally listed at $492,850. A lucky buyer was able to snag this home for $465,000! Upgrades included in this home were a pool bath (bringing the total up to three bedrooms and three baths), a three car garage, gourmet kitchen, and deluxe master bath. And, that’s not even including upgrades to the interior finishes. Square footage after upgrades was 2,263, making the price per square foot of this home $218. That makes it the lowest price per square foot of the four homes compared here.
Plus, Plantation Bay is only 10 minutes from Atlantic beaches, and offers amazing resident amenities. As a Plantation Bay resident, you can choose from a wide variety of optional memberships to enhance your lifestyle. You’ll enjoy dining and social events at two clubhouses, championship golf, tennis, a full-service spa, and much more. Not to mention, Plantation Bay is private and gated, helping you feel secure in your new home.
In conclusion, a three-bed, three-bath custom ICI Home in Florida brings you better value in both price per square foot and lifestyle than a home with similar parameters in New England.
just like many ICI Homes communities further south in Florida.
