Fruit Haven 10Page last updated: 4 August 2020
Fruit Haven 10 is a 14-hectare property along the Rio Zamora, in between Fruit Haven 1-3 and Terra Frutis.
It is currently in Stage 2 of development, which means we have purchased the property and are looking for people to buy shares.
Click here for a lot map and list of lots along with photos, prices, and descriptions.
The property has direct road access. It is bordering the Rio Zamora and is a 20-30 minute drive to Fruit Haven, or a 10 minute drive to Terra Frutis. Also, it is a 25-minute boat ride to Fruit Haven (to the south) or a 10 minute boat ride to Terra Frutis (to the north.) There is an area map below. With the current road, it is about a 20-minute drive out to the main road (E-45) where one can easily catch a bus or drive north to Gualaquiza or south to El Pangui.
Property features and geography
Property features and geography
The property starts at the river, with about 5 hectares of pasture. It goes slightly uphill to the public path. Then, after the public path, it is forested all the way to the back (west) side of the property. At the very back it begins to get steep as it goes up into the mountain. The property is about 100 meters wide (north to south) and 1400 meters long, so it has a long thin shape. It has been divided into ~0.5 hectare lots and an 0.36 hectare community area, and those lots can be combined into larger lots for the larger shareholders. Remaining land is either taken up by driveways, or is the forest reserve at the far west side. The good thing about the narrow shape is that every personal homestead lot can border the stream and the driveway (we have made a driveway down the length of the property; it just needs to be graveled).
Electric is not installed but the road has a powerline. We will connect the community area to the powerline. Individual homestead lot owners can hook up to the powerline if they want (installation cost is their own responsibility) or use off-grid options. Internet can be installed at this location all throughout the property; we will install it at the community area. There is a large stream (2-3 meters wide) coming down the northern property boundary. We will install a community water system that will allow all owners to hook up and receive gravity-powered pressurized water from the stream up in the mountain.
Property development budget
When we do a group buy, the price of each share includes a contribution to the property development fund. This allows for basic maintenance of the property, construction and maintenance of the community area, and other important elements (driveway, electric, internet, water system, etc.)
This fund should be sufficient for the 5 years after the initial closing. After this fund is exhausted, FH10 owners should expect to pay about $500/year per 5% share to cover maintenance of the driveways, community area, property boundary, etc. However, this amount will likely be reduced via renting rooms in the community house.
Click here to see the property development budget for FH10 (PDF).
Click here to see the yearly maintenance budget for 2024+
Click here to view a Google Drive folder with photos of the property: https://drive.google.com/open?id=1DYqHFiZaZtLLlgCijvZsxKCJAN0lQPcx
(Photos of lots for sale are on the lot details page linked above)
Horizontal Property Contract
When we do a group buy, owners must sign a contract (via power of attorney) specifying land use, lot assignment, and other general rules. A sample of this contract can be found on the main Group Land Buys page.
The closing costs will be as follows:
$800 per person if two people each purchase a 5% share around the same time (combining the closings into one)
$800 per lot if one person purchases 2 FH10 5% shares at the same time
$600 per lot if one person purchases 3 or more FH10 5% shares at the same time.
$1200 if one person purchases a 5% share (without combining the closing with other lots - this would be the best option if you want to purchase a lot right away without waiting until we find additional buyers to combine a closing.)
This covers all government fees, sales taxes, registration, as well as the agent's fee for carrying out the sale. There are two things it does not cover: (1) Your signing, sending, or possible translation of the power of attorney document, as these costs can vary depending on your situation. (2) Any money transfer fees you may incur in sending the closing costs or property purchase funds. Note that the buyer will be responsible for any possible intermediary bank fees or foreign exchange fees.
Map of Area
This map shows the proximity to the other Fruit Haven lots and to Terra Frutis.