At $95,000 USD, the basic building lot is a relative bargain. Over time, the value of these lots is expected to rise, as the planned clubhouse, riding stables, tennis courts, water recreation areas, adjacent hotel and golf course, and other amenities are built. Lot prices around the golf course will be 50% higher and lots around Freedom Orchard’s small lakes will be about double the basic price. Larger lots will be available as well.
The price that residents will pay for electricity and potable water will be competitive with other places in Chile, where a typical household might pay around $75 – $125 USD per month. It will not be necessary or desirable to drill individual wells or go through the costs of government registrations and approvals. Property taxes will run roughly 0.25% of assessed value (often about one-half of market value) up to 1% or 2% per year; depending on government classification of each property. Lower tax rates are reserved for properties which maintain their agricultural character.
Eyzaguirre y Cobin S.A., the developer of Freedom Orchard, will design the terms for the initial homeowner’s association and restrictive covenants which will include rules and guidelines for home construction in Freedom Orchard. The homeowner’s association is planned to become independent of Eyzaguirre y Cobin S.A. by January 2017. There will be four or five pre-qualified builders from which lot owners can choose to design and build their homes. These builders will be bound by contract to construct according to community standards set forth by the developers. Eyzaguirre y Cobin S.A. will also offer garden design and landscaping packages for lot owners at an additional cost of $50,000 per 1.24 acre lot.