Terraces at Reunion in Orlando
The Terraces at Reunion offers a beautiful collection of carefree condominiums perfectly situated within the Reunion Resort. Choose from 5 unique floor plans, all with spacious terraces. All homes come with a private garage, and include incredible luxury features such as 42” upper cabinets, granite countertops, under-cabinet lighting, stainless steel appliances and more. The Terraces’ park amenity boasts Reunion’s only lap pool, with two cabana bathhouses, a covered gazebo, and a concert and party pavilion. Whether you decide to live here full time, vacation here or participate in Reunion’s rental program, Terraces at Reunion is the perfect way to enjoy the ultimate resort experience, without ever leaving home. Terraces at Reunion…the one place that makes you feel like you’re on vacation all year long!
Type A.1 - Three Bedroom/2 bathroom/Garage - 1548 SqFt from $315,000
Type A.2 - Three Bedroom/2 bathroom/Garage - 1569 SqFt from $315,000
Type B.1 - Three Bedroom/2 bathroom/Garage - 1434 SqFt from $315,000
Type C.1 - Three Bedroom/2 bathroom/Garage - 1402 SqFt - from $308,000
INTERIOR STANDARD FEATURES
• Open and versatile living areas
• Quality carpet and carpet padding
• Ceramic tile in foyer, kitchen, laundry and baths
• Traditional raised panel 7’ interior doors (exterior doors are 8’)
• Painted, colonial-style base molding throughout; crown molding in living/dining room, master bedroom and master bath
• Hi-hat lighting in foyer, hallway and kitchen
• Decorative chandelier in dining room
• Pre-wired for alarm system
• Smoke detectors in all bedrooms
• Ceiling fans in living room and bedrooms
• Reunion Resort Community Network (state-of-the-art telecommunications package)
• Pre-wired for Cable TV (living room, master bedroom, bedroom 2 and bedroom 3)
• Pre-wired for phone outlets (master bedroom, bedroom 2 and bedroom 3)
• Ventilated shelving in closets
• French glass doors to terrace/balcony per plan
• Orange Peel texture on walls (not including bathrooms)
• Full-size washer and dryer in laundry area with cabinets above
GOURMET KITCHEN
• Complete Stainless Steel appliance package:
- 23 cu. ft. capacity side-by-side Refrigerator/Freezer with filtered water and ice on door
- Ceramic glass cook top Range with self-cleaning oven
- 1.8 cu. ft. Microwave above range
- Dishwasher with QuietPower feature
• Garbage disposal
• Wood cabinets with 42” uppers
• Granite countertop with 4” backsplash
• Under-cabinet lighting
• Stainless steel double bowl undermount sink with spray and single lever faucet
• Designer light fixture in breakfast area (per plan)
LUXURIOUS MASTER RETREAT
• Tray ceiling in spacious bedroom per plan
• Generous walk-in closet with lock-up storage area and safe
• Raised height vanity
• Upgraded faucets and plumbing fixtures
• Tile in all wet areas to ceiling
• Granite countertop with 4” backsplash
• Framed mirror above vanity
EXTERIOR STANDARD FEATURES
• Private garage as per plan
• Exterior GFI on terrace/balcony
• Steel reinforced concrete slab with vapor barrier
• Soil treated for termites (under the slab)
• Professionally engineered roof trusses with hurricane clips and tie-downs for wind resistance
• Concrete block party walls and concrete floors
• Professionally designed landscaping and sprinkler irrigation system
SAFETY, ENERGY, ECONOMY
• One year warranty from Terraces at Reunion, Inc.
• Fully insulated building per Florida Energy Codes
• Programmable thermostats
• High efficiency A/C system minimum 13 S.E.E.R
• 40 gallon hot water heater
• Battery back-up on smoke detectors
CONDOMINIUM ASSOCIATION
• Exterior pest control
• Exterior insurance
• Garbage collection
• Grounds maintenance
• Community street lighting
• Sprinkler system (water & upkeep)
• Full lawn & landscaping maintenance
• Common area maintenance and supplies
• Water and sewer service
• Roof maintenance (preventative)
• Elevator maintenance
GENERAL INFORMATION
DEPOSITS
A lot can be held for $5,000 which is fully refundable should the buyer decide not to proceed prior to contract. Builders will normally require a 10% deposit with the contract which once signed by the buyer and accepted by the builder, is binding, but may be subject to contingencies such as obtaining finance. Only if the contingencies are not met, will the deposit be refunded. The balance payable will be at closing.
MORTGAGES
There is a great deal of choice when choosing your mortgage and these can be secured either in the US or UK when buying a vacation home.
US mortgages can be either variable or fixed from 1 – 30 years, regardless of your age and with no early pre-penalty payments. This allows borrowers to reduce the term by making additional payments if they wish, but keep the lowest monthly payment possible.
As with standard mortgages in the UK, each monthly payment reduces the outstanding loan balance. It is also possible to have a UK based mortgage which are similar, but paid in sterling, so you will not have to concern yourself with exchange rates. Some lenders even allow you to change currency to take advantage of changes in exchange rates when one currency weakens against the other.
Interest only payment mortgages have become increasingly popular of late; these reduce the monthly outlay, but do not reduce the amount borrowed. The interest rate, however is normally a little higher than the standard capital and interest loan.
To avoid currency fluctuations with a US Mortgage, you can also forward buy currency for up to 2 years at an agreed rate from companies like MoneyCorp. This means you know exactly how much your payment will be each month irrespective of currency fluctuations.
Level of deposit required?
Foreign nationals (non US citizens) are usually required to pay a minimum of a 25% down payment and the balance in mortgage. If you are in a position to put down 30% you will secure a better interest repayment rate. It is sensible to talk with a Mortgage Broker prior to making your decision but not necessary. We have a list of Mortgage Brokers that you can contact here in the US to help with your decision.
Closing Costs
These are fees paid to transfer Title (ownership) from Seller to Buyer and associated costs in arranging finance to purchase the home (mortgage loan) this is a simple process and does not require the services of an attorney. A Title company (a neutral party and one that deals solely in transferring Title) will handle the transaction. The Title company basically does the same work that a Solicitor would do in the UK. Other charges included in the Closing Costs will be State and County taxes, similar to Stamp Duty and Pre-paid items that a lender might want paid in advance such as Property Tax, Home Insurance and Home Owners Association fees. When you are considering a purchase, a lender will provide a Good Faith Estimate for you, which will give you a very good indication of what will be required at closing.
Disclaimer: Property details, prices and availability are supplied by the developer or the agent and are subject to change. findaplaceoverseas.com cannot be held responsible for any inaccuracies.
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