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How much does a Transferable Building Allocation Cost?

How much does a Transferable Building Allocation Cost?

Understanding the Costs of a Transferable Building Allocation

So, you want to build a home in Marathon, Florida, and you’re thinking about buying a Transferable Building Right (TBR) because you don’t want to wait forever in BPAS. However, you’re not sure what the cost will be.

The Florida Keys

Total Cost Breakdown of a Transferable Building Allocation

Well, you’re in luck because today we will cover the total cost of purchasing a Transferable Building Right (TBR) for the City of Marathon.

  • The average cost of a Transferable Building Allocation in Marathon, Florida, has been around $200,000. However, in the past few months, we’ve seen more Transferable Building Allocations come on the market. As a result, prices have fluctuated between $170,000 and $220,000

Marathon, FL

Additional Fees

  • Now, with TBRs in Marathon, there is a $40,000 transfer fee. This fee is set by the City of Marathon, so there are no discounts on it!

  • When you’re buying a TBR, you have to look closely at each one. Some transferable building allocations will indicate that the $40,000 transfer fee has already been paid. So, you could save some cash depending on the list price. However, some sellers just charge a higher list price, so there might not be any real savings.

Closing Costs

  • The second thing you need to understand is that most sellers require buyers to cover ALL closing costs, including commissions. You may see language in the description stating “buyer to pay all closing costs and seller to net $200,000.”

  • As always, commissions are negotiable. However, in Marathon, most real estate agents charge a 10 percent commission on TBRs. Not every agent charges this rate, so feel free to call us for more details. Since sellers typically request buyers to cover ALL closing costs and buyers have been complying, sellers have often agreed to the 10 percent commission.

Detailed Estimate

Here is an estimate of the cost of a Transferable Building Allocation at a sale price of $200,000:

  • Contract sales price: $200,000.00
  • Application Fee: $600.00
  • Settlement Agent Fee: $2,000.00
  • Recording Fee: $300.00
  • Document Stamps: $1,400.00
  • City Transfer Fee: $40,000.00
  • Commission: $20,000.00

Total Estimate: $264,300.00

Finding the Right TBR

If you’re on the hunt for a Transferable Building Allocation, make sure to carefully review each one to understand the true costs involved. With numerous allocations on the market offering different scenarios, finding the most economical option can be a bit tedious. However, as your agent, we would be happy to handle this process for you.

Contact Us

If you have any questions about Transferable Building Allocations or building in the Keys, feel free to reach out anytime.

Learn More About Building in the Keys Here

Amy Prumo & Thomas Carden

Prumo & Carden

Amy’s success as a Florida Keys Elite Agent and Diamond Award Winner is truly awe-inspiring. With over a decade of experience in the real estate industry, she has cemented her position as a trailblazer and pioneer. Her unwavering commitment to excellence is reflected in her impressive academic credentials, which include a Master’s Degree in Marketing and Management. Amy’s marketing programs are simply unmatched, ensuring that your property is showcased to the widest audience of potential buyers, thus guaranteeing maximum exposure.

 

Tom is an accomplished expert in the Building, Planning, Zoning and Development field, with an extensive career spanning over several years. He has worked in the Civil Engineering Department for the USAF and was the Building Official/Director of Building Planning and Zoning for a municipality for over a decade. Additionally, he is the owner of Alliance Custom Builders, a testament to his entrepreneurial spirit. Tom’s impressive track record includes building homes in both Marathon and Key Colony Beach. He holds twenty licenses through the International Code council, including Commercial & Residential Plan Reviewer and Certified Building Official, cementing his position as a true leader in his field.

Sign up for our Newletter or Download our free List of Service Providers 

Includes Local home Inspectors and Insurance compaines 

Newsletter Signup Form
Service Provider Download

How much does a Transferable Building Allocation Cost?

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Do you need a car in Marathon Florida?

Do you need a car in Marathon Florida?

Is a Car Essential for Your Visit to Marathon, Florida?

Planning a trip to Marathon, Florida? Wondering if you should bring a car? Absolutely! Marathon isn’t really set up for walking. Its streets spread out like fingers from the main road, U.S. 1, which can get pretty jam-packed and risky to navigate. Plus, since it’s one of the few places on the route to Key West with just two lanes, drivers tend to speed, making it even trickier to get around on foot. A car is definitely your best bet for getting around safely and conveniently.

In Marathon, there are only a handful of spots where walking or biking is safe. These include the Sombrero Beach area, the area behind the airport, Coco Plum, and all of Key Colony Beach.

There are plenty of small shopping plazas to explore in Marathon, but you’ll need a car to reach them.

Car in Marathon, Florida

A car is definitely your best bet for getting around Marathon, Florida.

If Marathon is on your travel itinerary, having your own car is absolutely essential. With its sprawling layout and limited pedestrian-friendly options, relying on a car ensures you have the freedom to explore the area at your own pace and access all the attractions and amenities this vibrant destination has to offer.

Ready to make the Move?

We are local real estate agents, deeply familiar with the Marathon and Key West areas, and ready to serve you. Whether you’re considering making the Florida Keys your permanent home, investing in vacation property, or looking to sell, we’re here to assist you every step of the way. Feel free to call us or reach out for any inquiries or assistance you may need. We’re committed to helping you find your perfect piece of paradise in the beautiful Florida Keys.

Check out our Marathon Page to learn all about Marathon, or if you’re ready to buy, head to the Buyer Page where we answer lots of your common questions. Don’t forget to take a peek at the Market Page too.

Amy Prumo & Thomas Carden

Prumo & Carden

Amy’s success as a Florida Keys Elite Agent and Diamond Award Winner is truly awe-inspiring. With over 13 years of experience in the real estate industry, she has cemented her position as a trailblazer and pioneer. Her unwavering commitment to excellence is reflected in her impressive academic credentials, which include a Master’s Degree in Marketing and Management. Amy’s marketing programs are simply unmatched, ensuring that your property is showcased to the widest audience of potential buyers, thus guaranteeing maximum exposure.

 

Tom is an accomplished expert in the Building, Planning, Zoning and Development field, with an extensive career spanning over several years. He has worked in the Civil Engineering Department for the USAF and was the Building Official/Director of Building Planning and Zoning for a municipality for over a decade. Additionally, he is the owner of Alliance Custom Builders, a testament to his entrepreneurial spirit. Tom’s impressive track record includes building homes in both Marathon and Key Colony Beach. He holds twenty licenses through the International Code council, including Commercial & Residential Plan Reviewer and Certified Building Official, cementing his position as a true leader in his field.

Sign up for our Newletter or Download our free List of Service Providers 

Includes Local home Inspectors and Insurance compaines 

Newsletter Signup Form
Service Provider Download

Do you need a car in Marathon Florida?

Is a Car Essential for Your Visit to Marathon, Florida? Planning a trip to Marathon, Florida? Wondering if you should bring a car? Absolutely! Marathon isn't really set up for walking. Its streets spread out like fingers from the main road, U.S. 1, which can get...

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How far is it from Marathon to Key West?

How far is it from Marathon to Key West?

Heading South: The Distance from Marathon to Key West

In the heart of the Florida Keys lies the city of Marathon, a laid-back island town with plenty of beauty. But for those craving a taste of the vibrant energy and eclectic culture of Key West, the question arises: How far is it from Marathon to Key West?

The journey to Key West typically takes an hour to reach the top of Key West. In season, which runs from January to April, it could take an hour and a half. Now, if you are heading to Duval Street, add another 20 minutes or so from the time you enter Key West. Duval Street is pretty deep into Key West, and of course, there is always traffic there.

On the way down to Key West, there always seems to be that one car driving slow. With limited passing areas, you’re often stuck behind slow cars for miles. The bridge near Bahia Honda State Park is one of your chances to pass, as the road opens to two lanes. But remember, don’t speed after getting off that bridge. There are always cops waiting on either end, so make sure you slow down when you’re going down the hill.

Marathon to Key West

Marathon to Key West

Although the trip from Marathon to Key West can take some time and your road rage might kick in a bit, the views are pretty spectacular.

A few excellent stops on the way from Marathon to Key West include Boondocks, the jumping bridge, and Baby’s Coffee. If you’re not in a hurry, these spots offer a perfect opportunity to take a break during your journey.

Whether you’re embarking on a day trip or planning a longer stay, the road from Marathon to Key West offers a captivating glimpse into the magic of the Florida Keys.  See you on Duval Street!

Ready to make the Move?

We are local real estate agents, deeply familiar with the Marathon and Key West areas, and ready to serve you. Whether you’re considering making the Florida Keys your permanent home, investing in vacation property, or looking to sell, we’re here to assist you every step of the way. Feel free to call us or reach out for any inquiries or assistance you may need. We’re committed to helping you find your perfect piece of paradise in the beautiful Florida Keys.

Check out our Marathon Page to learn all about Marathon, or if you’re ready to buy, head to the Buyer Page where we answer lots of your common questions. Don’t forget to take a peek at the Market Page too.

Amy Prumo & Thomas Carden

Prumo & Carden

Amy’s success as a Florida Keys Elite Agent and Diamond Award Winner is truly awe-inspiring. With over 13 years of experience in the real estate industry, she has cemented her position as a trailblazer and pioneer. Her unwavering commitment to excellence is reflected in her impressive academic credentials, which include a Master’s Degree in Marketing and Management. Amy’s marketing programs are simply unmatched, ensuring that your property is showcased to the widest audience of potential buyers, thus guaranteeing maximum exposure.

 

Tom is an accomplished expert in the Building, Planning, Zoning and Development field, with an extensive career spanning over several years. He has worked in the Civil Engineering Department for the USAF and was the Building Official/Director of Building Planning and Zoning for a municipality for over a decade. Additionally, he is the owner of Alliance Custom Builders, a testament to his entrepreneurial spirit. Tom’s impressive track record includes building homes in both Marathon and Key Colony Beach. He holds twenty licenses through the International Code council, including Commercial & Residential Plan Reviewer and Certified Building Official, cementing his position as a true leader in his field.

Sign up for our Newletter or Download our free List of Service Providers 

Includes Local home Inspectors and Insurance compaines 

Newsletter Signup Form
Service Provider Download

Do you need a car in Marathon Florida?

Is a Car Essential for Your Visit to Marathon, Florida? Planning a trip to Marathon, Florida? Wondering if you should bring a car? Absolutely! Marathon isn't really set up for walking. Its streets spread out like fingers from the main road, U.S. 1, which can get...

How far is it from Marathon to Key West?

Heading South: The Distance from Marathon to Key West In the heart of the Florida Keys lies the city of Marathon, a laid-back island town with plenty of beauty. But for those craving a taste of the vibrant energy and eclectic culture of Key West, the question arises:...

Does Marathon Florida have beaches?

Exploring the Beaches of Marathon Florida Ready to visit Marathon, Florida, and curious to know if there are beaches here? Well, you're in luck because there are actually two beaches here in Marathon. Now, these beaches aren't huge, and they don't stretch on for miles...

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Is it expensive to live in Marathon Florida?

How Much Does it Cost to Live in Marathon, Florida? Thinking of making Marathon, Florida your home sweet home? Curious about the living costs? You're in luck! Let's dive into the average expenses for essentials like rent, housing, food, utilities, and insurance....

Wind and Flood Insurance Update Florida Keys

2024 Wind and Flood Insurance Update Welcome to a quick overview of the current state of wind and flood insurance in the Florida Keys. Let's explore recent changes, ongoing efforts, and how they affect residents and policies in our beautiful community. Citizens - Wind...

The Best Waterfront Neighborhoods in Marathon, FL

Marathon, FL's Finest Waterfront Neighborhoods If you're searching for "waterfront homes for sale in Marathon, FL," then listen up because today we're going to highlight some highly popular waterfront neighborhoods right here in Marathon, FL! But first, some...

Is Marathon, Florida Keys safe?

Exploring the Safety of Marathon, Florida Keys Discover Safety in Marathon, Florida If you're contemplating a move to Marathon, Florida, safety should be high on your checklist. The good news? Marathon, Florida is safe. Personal Safety Assurance: As a long-term...

What’s the Average Price for Waterfront Homes in Marathon, FL?

Discovering Paradise: Waterfront Homes in Marathon, FL Thinking about purchasing a waterfront home in Marathon, Florida? Wondering what waterfront homes in Marathon, FL list and sell for? Well, you're in the right place! We've got you covered. In this guide, we'll...

Does Marathon Florida have beaches?

Does Marathon Florida have beaches?

Exploring the Beaches of Marathon Florida

Ready to visit Marathon, Florida, and curious to know if there are beaches here? Well, you’re in luck because there are actually two beaches here in Marathon.

Now, these beaches aren’t huge, and they don’t stretch on for miles and miles, but the sand is nice and soft, and the water is great! The two beaches in Marathon, Florida, are Sombrero Beach and Coco Plum Beach.

One thing to remember about the beaches in Marathon is that we have a reef a few miles back, so we don’t get huge waves here. Which, personally, I like a lot because you can actually swim in the water and not worry about getting towed under or knocked down by a wave.

Sombrero Beach

Sombrero Beach in Marathon Florida 

Sombrero Beach in Marathon, Florida, in my opinion, is one of the nicest in all of the Florida Keys. Sombrero beach has everything you need for a great day at the beach. There are shaded picnic tables, grills, showers, and bathrooms. The area also has a playground for the kids and beach volleyball. Sombrero beach also has a little grass area!

Sombrero beach can get busy at times. You will find a lot of families and children at this beach. If you go early in the morning, typically there are not a lot of people there. Plus, they rake the beach in the morning, and I just love when the sand is newly raked!

Just recently, the City of Marathon started to charge visitors for parking at the beach. It’s five dollars for the first two hours and then two dollars for each hour after. Now, if you’re a resident of Marathon, parking is free.

Coco Plum Beach

Coco Plum Beach in Marathon Florida

Coco Plum Beach is located in the Coco Plum neighborhood of Marathon. Now, this beach is a lot different from Sombrero Beach. Coco Plum beach doesn’t have as many amenities as Sombrero Beach; in fact, the only things they have are bathrooms, and we just got those a few years ago.

Coco Plum beach is also a lot more “shelly,” and the sand at times isn’t the best to walk on.

Coco Plum beach is more known as the dog beach in town. A lot of people bring their furry friends there, which is fine by me!

During low tide at Coco Plum beach, you can walk out super far into the ocean. There are tiny shells all over too, which makes it fun. Additionally, Coco Plum beach has a decent amount of trees along the beach, so there are kind of like little hidden areas to explore.

Overall, Coco Plum beach is much quieter than Sombrero beach. When we go there, there are only a few handfuls of people there.

Okay, so I hope that helps answer your question – Does Marathon, Florida, have beaches?

Please remember we are local real estate agents here in the Marathon area. If you ever are looking to buy or sell, please give us a call.

Also, check out our Marathon page; it has so much information about the city and the different neighborhoods.

Amy Prumo & Thomas Carden

Prumo & Carden

Amy’s success as a Florida Keys Elite Agent and Diamond Award Winner is truly awe-inspiring. With over 13 years of experience in the real estate industry, she has cemented her position as a trailblazer and pioneer. Her unwavering commitment to excellence is reflected in her impressive academic credentials, which include a Master’s Degree in Marketing and Management. Amy’s marketing programs are simply unmatched, ensuring that your property is showcased to the widest audience of potential buyers, thus guaranteeing maximum exposure.

 

Tom is an accomplished expert in the Building, Planning, Zoning and Development field, with an extensive career spanning over several years. He has worked in the Civil Engineering Department for the USAF and was the Building Official/Director of Building Planning and Zoning for a municipality for over a decade. Additionally, he is the owner of Alliance Custom Builders, a testament to his entrepreneurial spirit. Tom’s impressive track record includes building homes in both Marathon and Key Colony Beach. He holds twenty licenses through the International Code council, including Commercial & Residential Plan Reviewer and Certified Building Official, cementing his position as a true leader in his field.

Sign up for our Newletter or Download our free List of Service Providers 

Includes Local home Inspectors and Insurance compaines 

Newsletter Signup Form
Service Provider Download

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Does Marathon Florida have a town?

Does Marathon Florida have a town?

Discovering Marathon Florida’s Town

Marathon, Florida, is located in the Middle of the Florida Keys. Marathon offers residents and visitors alike a taste of paradise. But does Marathon have a town to call its own? Let’s dive into the details.

The Island Setting

Stretching approximately 10 miles in length, Marathon is a gem of an island, brimming with natural beauty and coastal allure. From its shimmering shores to its lush landscapes, this slice of paradise captures the essence of the Florida Keys.

Condos For Sale in Marathon,

No Traditional Downtown Area in Marathon Florida

Marathon, FL does not have a traditional downtown area. However, there are several different shopping plazas spread throughout the island. There are not a ton of shops to choose from, but Marathon, FL does have two grocery stores, a Home Depot, several restaurants, a handful of ice cream shops, and a bunch of mom-and-pop shops with lots of great clothes and Florida Keys memorabilia. You definitely can get a bit of retail therapy in.

Getting Around

While a car is the preferred method for traveling on the island, biking is also an option. However, it’s essential to exercise caution, especially near the bustling U.S. 1 highway, which serves as the main artery connecting Marathon’s various attractions.

Considering a Move to Marathon Florida

If the idea of calling Marathon home has crossed your mind, be sure to explore our comprehensive Marathon page. Here, you’ll find invaluable insights into what life on the island entails, from housing options to community amenities.

SEARCH WATERFRONT HOMES FOR SALE MARATHON, FLORIDA

Condos in Marathon - Marathon Country Club West and East

Insider Tips and Tricks in Marathon Florida

For an insider’s perspective on all things Marathon, don’t miss out on our blog posts dedicated to uncovering the hidden gems and local hotspots that make this island paradise truly special. We’re committed to providing you with the inside scoop on what it’s really like to live and thrive in Marathon, Florida.

Conclusion

In Marathon, Florida, the spirit of island living is alive and well. While it may not boast a traditional downtown area, this vibrant community offers a wealth of amenities and attractions to explore. Whether you’re considering a move or simply seeking adventure, Marathon invites you to experience the best of island life.

Amy Prumo & Thomas Carden

Prumo & Carden

Amy’s success as a Florida Keys Elite Agent and Diamond Award Winner is truly awe-inspiring. With over 13 years of experience in the real estate industry, she has cemented her position as a trailblazer and pioneer. Her unwavering commitment to excellence is reflected in her impressive academic credentials, which include a Master’s Degree in Marketing and Management. Amy’s marketing programs are simply unmatched, ensuring that your property is showcased to the widest audience of potential buyers, thus guaranteeing maximum exposure.

 

Tom is an accomplished expert in the Building, Planning, Zoning and Development field, with an extensive career spanning over several years. He has worked in the Civil Engineering Department for the USAF and was the Building Official/Director of Building Planning and Zoning for a municipality for over a decade. Additionally, he is the owner of Alliance Custom Builders, a testament to his entrepreneurial spirit. Tom’s impressive track record includes building homes in both Marathon and Key Colony Beach. He holds twenty licenses through the International Code council, including Commercial & Residential Plan Reviewer and Certified Building Official, cementing his position as a true leader in his field.

Sign up for our Newletter or Download our free List of Service Providers 

Includes Local home Inspectors and Insurance compaines 

Newsletter Signup Form
Service Provider Download

Are home prices dropping in the Florida Keys?

Florida Keys Real Estate Home Prices We're in Spring 2024, and you're curious if home prices in the Florida Keys are dropping. Well, I'm here to tell you that they are not. Each month, we analyze the numbers across the entire Florida Keys. You can check out our...

Wind and Flood Insurance Update Florida Keys

2024 Wind and Flood Insurance Update Welcome to a quick overview of the current state of wind and flood insurance in the Florida Keys. Let's explore recent changes, ongoing efforts, and how they affect residents and policies in our beautiful community. Citizens - Wind...

The Future of Rogo in the Florida Keys

Rogo The anticipation is high regarding the future of ROGO in the Florida Key. Islamorada has officially exhausted its building allocations. The City of Marathon is set to deplete its allocations by 2025, and the county has slowed its pace, anticipating the end of...

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Rogo In the Florida Keys The anticipation is high regarding the future of ROGO in the Florida Keys, and we're curious too! Islamorada has officially exhausted its building allocations, and they're now considering what to do with a few "administrative permits." The...

How Much Does a Beachfront Condo in Marathon, FL Cost?

Wondering about the cost of beachfront condos in Marathon, FL? Embarking on the journey to find your piece of paradise in Marathon, FL is like a thrilling adventure, just like watching a stunning sunset over the Florida Keys. But the big question remains: how much...

What’s the Average Price for Waterfront Homes in Marathon, FL?

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Downstairs Enclosures: What You Need to Know Background Living in the Florida Keys comes with unique challenges, especially when it comes to understanding the rules regarding downstairs spaces in homes. Rules for Downstairs Enclosures Here in the Florida Keys, the...

Florida Keys Investment Property

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Marathon Florida Pet-Friendly Condos

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Bpas / ROGO in Marathon, Florida

Bpas / ROGO in Marathon, Florida

ROGO in Marathon, Florida

Marathon, Florida Facing Building Allocation Shortage

Marathon, Florida is nearing the end of its building allocations. (ROGO) Once exhausted, owners of vacant lots may resort to legal action against the city for denying them the opportunity to build on their properties.

Marathon and Monroe County Strike Deal

Marathon City and Monroe County have reached an agreement to prevent lawsuits. Marathon will temporarily borrow building allocations from the county.

Marathon initiated paperwork to request additional building allocations from the state. However, Monroe County preferred a comprehensive assessment of available buildable lots and infrastructure needs before proceeding. The county consented to loan allocations to Marathon on condition that the city postpones further requests from the state.

Building

ROGO News Article 

Here is a link to the most recent news article where this was addressed

https://keysweekly.com/42/bpas-band-aid-marathon-monroe-county-outline-building-allocation-loan/

Is Borrowing Building Allocations a Good Idea?

Is relying on temporary borrowing of building allocations truly a viable long-term solution for Marathon’s development challenges? While it may stave off immediate legal action, it doesn’t guarantee immunity from potential future lawsuits if the state doesn’t allocate more permits. Additionally, what about property owners in line for ROGO on their vacant lots in the county? With a limited number of permits available, borrowing allocations could negatively impact their opportunities for development. Considering these factors, is temporary borrowing a sustainable approach, especially if the state fails to allocate more permits in the future?

What are your thoughts on Marathon temporarily borrowing building allocations from Monroe County to address its shortage? Do you believe this is a viable solution for the city’s development challenges, or do you foresee potential drawbacks in the long term?

Amy Prumo & Thomas Carden

Prumo & Carden

Amy’s success as a Florida Keys Elite Agent and Diamond Award Winner is truly awe-inspiring. With over a decade of experience in the real estate industry, she has cemented her position as a trailblazer and pioneer. Her unwavering commitment to excellence is reflected in her impressive academic credentials, which include a Master’s Degree in Marketing and Management. Amy’s marketing programs are simply unmatched, ensuring that your property is showcased to the widest audience of potential buyers, thus guaranteeing maximum exposure.

 

Tom is an accomplished expert in the Building, Planning, Zoning and Development field, with an extensive career spanning over several years. He has worked in the Civil Engineering Department for the USAF and was the Building Official/Director of Building Planning and Zoning for a municipality for over a decade. Additionally, he is the owner of Alliance Custom Builders, a testament to his entrepreneurial spirit. Tom’s impressive track record includes building homes in both Marathon and Key Colony Beach. He holds twenty licenses through the International Code council, including Commercial & Residential Plan Reviewer and Certified Building Official, cementing his position as a true leader in his field.

Coldwell Banker Schmitt Real Estate