FREQUENTLY ASKED QUESTIONS
Welcome to Gracewater at Sarasota, a visionary resort-inspired lifestyle community where modern coastal living meets luxury in the heart of Sarasota. At its core is Privada Homes, dedicated to crafting unique, personalized homes that prioritize lifestyle and functionality, reflecting residents’ dreams in this vibrant community. Explore our FAQs for insights into life at Gracewater and the exceptional homes by Privada Homes.
How can we find the Declaration of Restrictions?
These are available upon request from our sales team and also recorded with Sarasota County.
Has a decision been made regarding partnering with a pool company?
We have partnered with Family Pools and we can provide you with information during your visit.
Is there a restriction on dogs?
3 total pets per house. No breed restrictions.
What is the minimum down payment required if I am a cash buyer?
We require 10% of the base price of the home and lot.
Options: 50% up to the first $50,000. Everything over $50,000 is 100%.
What is the minimum down payment if I am getting a mortgage?
We require 10% of the base price of the home and lot.
Options: 50% up to the first $50,000 everything over $50,000 is 100%.
Will there be a dog park?
Yes, we have a beautiful dog park called “Peppa’s Park” with a separate area for smaller and larger dogs.
What are the lot sizes?
The single-family lots are a minimum of 50 x 130 feet deep with some lots being slightly larger. Each of the lots is deep enough to accommodate a pool.
The villa lots are a minimum of 35 x 130 feet for each side with some lots being slightly larger.
What type of community maintenance is included?
Single-family: Maintenance-free landscaping.
Villas: Maintenance-free landscaping, exterior walls and roof maintenance included.
What types of internet and phone services will be available? Will fiber optics or cable companies be an option? Will the homes be cable-ready?
Currently, we are working with Xfinity, and Frontier and hope to have one more company to select from.
Is Gracewater a natural gas community?
All homes will have natural gas for cooktops & tankless water heaters, plumbed for gas, and electric dryer options.
Are they smart homes?
Full range of smart home options, but not included in the base price.
Where will the mailboxes be located?
Mailboxes will be at a covered kiosk inside the gates of Gracewater.
When will the clubhouse be built?
We do not have a specific date of completion but the great thing about moving into a lifestyle community, our lifestyle programs will be offered immediately, and we do not necessarily need a brick-and-mortar building to plan and execute activities/interest groups and events. We offer our residents a wide variety of programs and activities designed to meet their needs. We evaluate our programs and events quarterly so we can continue to improve and add to existing programs.
What are the setbacks between houses?
The setbacks between homes will be 10’ (5 feet on each side).
What type of countertops will be used in the villas and single-family homes?
All countertops will be quartz.
Does every lot have room for a pool?
Yes, every lot will have room for a pool.
Do you have a preferred lender?
Yes, Movement Mortgage and South State Bank. (Preapproval Link)
Is this an affordable housing community?
Gracewater at Sarasota does not have any affordable housing programs.
There is a future mixed-use project of retail, luxury townhomes, villas, and high-end apartments to the south of the site that will come online in another 3-4 years. That project will include a small component of attainable housing reserved for middle-income workers such as police officers, firefighters, teachers, health care workers, etc.
What type of amenities will be offered at Gracewater?
At Gracewater there are exceptional planned amenities that will provide endless possibilities for recreation, fitness, and meeting-up with neighbors and friends.
- State-of-the-art Fitness Center
- Residents may access the Fitness Center 24 hours a day. Complete with Cardio and strength training machines, a free weight area with a variety of weighted dumbbells Group fitness classes, personal training sessions, and wellness seminars are available upon at an additional cost.
- Resort-style pool
- Outdoor social areas
- Pickleball courts
- Dog park
- Onsite Lifestyle Manager to plan and coordinate events and activities
Is there a model home I can tour?
There are three model homes, “The Seascape”, “The Waters Edge”, and “The Bay Haven” available to view by appointment.
What could cause a delay in my home’s building progress?
Many variables can dictate the build time of your new construction home. Variables such as weather, availability of building materials, staffing, weather, and option selections, can cause construction delays. We will do everything in our power to make sure the construction of your home stays on track. We will ensure we communicate any updates to you throughout the build process.
What kind of loan do I need for a new construction home?
We accept the following loan products, including VA Loans, FHA Loans, and conventional mortgages, as well as cash buys. You can contact one of our preferred lenders to make sure you have the right loan for you.
What should I expect from the orientation walkthrough before closing on my new home?
At your orientation walkthrough, you and your project manager will conduct a final “walkthrough” or “inspection” of your new home. The primary purpose is to familiarize you with the maintenance requirements and warranty information about your new home.
What’s covered under our new home warranty?
All of our new construction homes offer the following warranty:
1-YEAR LIMITED WARRANTY on all Workmanship & Materials
2-YEAR LIMITED WARRANTY covering all Internal Systems Protection
10-YEAR LIMITED WARRANTY covering all Footer, Foundations & More
Do the prices of homes on the website include the lot?
New construction home prices listed online in our planned subdivisions include the cost of a standard lot for that subdivision. Some lots in a planned subdivision may have an additional premium or cost.
How much down payment do I need to start the contract process?
Floor plan base price and lot: 10% down payment
Optional upgrades: 50% up to the first $50,000. Everything over $50,000 is 100%.
What are closing costs and how much will they be?
Closing costs can vary depending on the price of the home. Your Community Sales Manager and your mortgage lender can help you determine the amount you will need for closing costs.
Why would someone use your preferred lender vs using their own?
Although it is not mandatory, we recommend our buyers to use our preferred lenders, as they offer competitive rates and incentives. We have carefully selected esteemed members of the mortgage community, who we know will provide excellent service. With our team’s extensive experience in thousands of home sales, we know what to look for in our lenders. We are so confident in our preferred lenders that we will match their incentives for our buyers. Currently, our preferred lenders are offering a credit to closing costs equal to 0.5% of the financed amount, and our builder is matching it. You can find more information about this offer by clicking on the link. (Preapproval link)
Do I need a Realtor® to buy a new home?
Our Community Sales Managers are here to guide you each step of the way and ensure you get the new construction home you want. We are happy to work with your Realtor® if you have one; agents must register onsite with you at your first appointment.
What is your Realtor® policy?
We love our Realtor® partners. Our realtor policy requires clients and agents to have a unique email address and that the agent personally accompanies the clients on their first visit to a Gracewater community.
What is a quick move-in home?
Quick move-in homes are new homes in our Gracewater communities that are either under construction or already complete. Our quick move-in homes reduce the time it takes to move into your new home.
Can I buy a Gracewater home as an investment home?
Yes, there are restrictions in the governing documents in terms of lease terms. Contact the sales team for further information.
What is included in the base price of a Gracewater home?
What is a home site premium?
A home site premium is an additional cost associated with a specific home site due to several factors such as size, location, or features.
Does Gracewater do renovations after my home is completed?
No, we do not offer renovation services once your home has been completed.