What sets Stockholm Estates apart from other new neighborhoods?
Stockholm Estates’ lots were designed from the beginning to offer the best features available at about half the cost of those found in nearby towns. The features include full concrete streets, concrete sidewalks, connection to the Välkommen Walking Trail, LED lighting, and more.
What is the total cost of a new home lot?
Total cost is the amount you pay for a home lot now plus the amount you pay through special assessment taxes. (Lot price + "specials"). A Traditional lot at Stockholm Estates is priced at $25,000. The special assessment taxes are $0.00, making the total cost $25,000. In nearby towns, smaller lots sell for $35,000 or more. In addition, you will have to pay $30,000 or more in special assessment taxes. This means that a comparable lot in a neighboring town has a total cost of at least $65,000, or more than twice the price of a lot at Stockholm Estates.
Why are the lots at Stockholm Estates priced lower than lots in other neighborhoods/towns?
Stockholm Estates is a Rural Housing Incentive District. This means that the State of Kansas, the County of McPherson, the City of Lindsborg, the local School System, and the developers have partnered together to make this possible. The developers have decided to pay the special assessment costs up front so you do not have to pay them!
Do I have to use a specific builder or subcontractors?
Stockholm Estates is an open development, allowing homeowners to choose their builder and subcontractors.
Does any of the incentive from the State of Kansas or the City of Lindsborg have to be repaid?
The State of Kansas and the City of Lindsborg have partnered with the developers to help keep the costs of new lots down by investing in Stockholm Estates. To ensure that the incentives are being passed on to new homeowners looking to live in Lindsborg, each homeowner will sign an agreement to pay back a portion of the incentive received if the homeowner sells the home for a net profit in the first 5 years of ownership. While the incentive received can be in excess of $50,000.00, the maximum amount paid backto the City of Lindsborg cannot exceed $5,000.00. The maximum amount that can be paid back will also be reduced by $1,000.00 each full calendar year, meaning that no net profit is to be given back after 5 years. At that time, the second mortgage promissory note is completely forgiven. If a home is sold in the first 5 years and there is no net profit, no money is to be paid back to the City of Lindsborg or the State of Kansas for the incentive that was received.
How much are the Homeowners’ Association Fees?
While an HOA will exist to provide oversight for the architectural standards, we only foresee a very small (if any) HOA fee ever being collected. All future maintenance for roads and infrastructure will be provided by the City of Lindsborg.
What other costs will be incurred when a new home is built on a lot?
As with most cities, your builder will go to the City to obtain a permit to cover the water pit, water line, sewer tap, electrical connection, and electrical meter. This cost is generally $3,000 to $3,500. The City of Lindsborg, as the utility, charges a connection fee any time new service is established.
Can I buy a lot in a future Phase?
Absolutely! There will be 3 Phases. However, lots in Phase 2 and 3 will not be available until lots in Phase 1 are all sold.
Will there be covenants in place?
Covenants will be in place for all homeowners.
*Tax estimates are listed above according to lot size, average estimated home size, and current tax millage rate for the City of Lindsborg. Actual real estate tax rates will be known once homes are built. New homes are normally appraised by sale cost or construction permit estimate combined with lot value as assigned by the McPherson County Appraisers Office.