I’m starting to think about my options to invest in the Rancho Santana development.
My initial motive to arrive to Rancho Santana came from a personal believe regarding the terrible economic state that the US and the rest of the modern world face. I believe Central and South Americas as well as the far east will improve financially while the “modern” world will suffer under the weight of it’s debt.
Buying a condominium seems a bit more expensive than I planned, but the ability to rent it is a plus. Buying a lot can be a good investment over time, but the lot I’m interested in, M-25 on the cliff above the Pacific, is also not that cheap.
The developer offers a financing plan that provides a loan for the purchase of a lot or the cost of building a house. I’m starting to think about the possibility to buy the lot and building a house on it.
The lot is one of the last available ocean front lots in the development, and their is only one house that is built to sell on Rancho Santana. If I’ll build it I will have the only house available on the market, and it would be on a prime lot with amazing views to the Pacific Ocean.
M-25 and M-27 are the last lots available on the Alta Vista area. Originally there were 22 lots for sale on the cliff, but they were all sold. Than the developer added 5 more lots on the cliff towards the south, and three of them already been sold. Now the developer adds three more lots in the area – bigger but they are a bit behind the first 27 lots, so they don’t enjoy the “ocean front” title, and the exceptional views that comes with it. M-25 is smaller than M-27 and most of it is have a significant drop towards the ocean so there is a limited area to build on.
The next time I’m on the lot with Marc we discuss what kind of a house can be built there. Marc says that a 2,000 sq feet house with three bedrooms and two bathrooms should be a good size to sell or rent. He draws a rough diagram on the ground – the area that can accommodate the house stretches from north to south so Marc draws the rooms in that direction pointing out that this way all of them can share the views to the west. This would provide a great view to the ocean and since Nicaragua is close to the equator the sun sets around the same place throughout the year.
When I try to figure out where is the connecting corridor between the rooms, Marc says that I can let all the rooms open towards a corridor to to west. It will have a roof above it but no walls, so nothing will block the views to the west. It takes me few seconds to wrap my mind around the idea, but I begin to realize that since were in a tropical area, there is never a cold season, so the houses can be much more open to the elements. I recall that in the house I’m staying in I walked through the entry door and actually found myself “outside” – in a lounge that has no walls. Most houses in Rancho Santana has pools, and I realize that an infinity pool would have an amazing effect on the cliff.
We walk around the lot to figure out how big the house can be. Marc and Alan, the engineer of the development who joined us for the tour, agree that since the lots sits high above the road we might be able to cut the lot in height, thus providing us more place to build. It seems that the lot is wide enough for the rooms but the external corridor might have to be cantilevered over the cliff.
Here is a picture of the lot from the road. The lot starts higher than the road and than drops toward the ocean. We are thinking of cutting the lot down to the height of the road, about the place below where we parked the car.
M25 – view from the road
M25 – view from the road – 21-Feb-2010