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+---- Thread: Building on leased land? (/showthread.php?tid=23041)
Building on leased land? - LostBeachBum - 06-03-2011
Hello,
I've just returned from another extended visit to JA. This time I decided that I'm going to build a 2 BR cabin in the area I've been visiting for years (Broughton). I am young so not wanting to get over my head I don't intend to buy land or build a large concrete house. Instead, I have worked out a lease with a good friend of mine that seems very reasonable, $450 annual for 1.3 acres mostly beach front. Everything seems to be in place for me to start investing in the project. So I wanted to know if anyone here has experience building on a leased plot of land?
Here is the basic plan:
Sign lease and take control of 1.3 acre mostly beach front
Level the property with multiple loads of "maul" or dirt as I call it...
Pour concrete foundation
Have 2, 12 x 24 board houses delivered from Little London and set on foundation
Attach houses, add bathroom and finish the cabin
Landscape the property
Enjoy my beach cabin in paradise
Sounds simple enough but I realize there is much more to it than that. I have created a fairly detailed budget which can be adjusted once I start pricing materials more thoroughly. Based off the figures I have received and what others in the area have spent, the whole project shouldn't cost more than $12k but I am allowing $15k-$16k US. I have already met with a real estate attorney who will be drawing up the lease. I went to the company in Little London who builds and delivers the houses to work out prices. Another good friend of many years is my contractor and he is the most reliable Jamaican I've ever met. My father and I will be pouring the foundation as well as doing much of the interior work. There is plenty of labor available in the immediate area and my gardener is another friend of a few years.
After speaking to some expat friends who live in the same area, I feel good about my budget and having all the pieces in place but all of them bought land and built larger houses. I guess I am looking for some feedback from other expats who have done something similar. Any insight in appreciated.
Bless up!
Re: Building on leased land? - Blues Pirate - 06-03-2011
Welcome to Jamaicaholics!
Re: Building on leased land? - bozz - 06-04-2011
follow your dream' i have spent more than that on a used car'..it broke down...so what...life is short...if you can have a bit of happiness in what you plan go for it...long and short is trust your gut, many of us don't do that...enjoy today, tomorrow may not be there...look at what is happening the world over...friends are and can be real but sometimes, they kick you in the ass. living has painfull times, what u can manage, and u feel good about it...do it...peace
Re: Building on leased land? - Winni - 06-07-2011
Hi all!
Sorry been MIA as we have buuuusssey!
Anyhoo, we lease land and have a half board/half concrete house on it.
LBB - email me at riley333@mymts.net and I can give you the name of our Lawyer in Sav. Life time lease is the way to go if you want to do it that way.
Always best for both of you to go together to the lawyer and discuss the options of what you want to do. Documents signed by both and witnessed by justice of the peace may hold up in court however, there are always the details that neither of you will think or know to include in your document where a real estate laywer will.
Good luck!
We did it and it has been fantastic!
W