The due diligence process is different depending on which you choose — and so are the risks.
In the St. Augustine 55+ market as of 2025, Parkland Preserve is largely resale from individual sellers. Reverie at Silverleaf and Reverie at TrailMark are active new construction from Dream Finders. WaterSong at RiverTown has both resale and remaining new-construction inventory from Mattamy. Villages of Seloy is resale only with the original builder no longer in business. Each path has a different set of questions to ask and risks to manage.
| Factor | New Construction | Resale |
|---|---|---|
| What you are buying | A contract to build — you choose lot, floor plan, options before the home exists | An existing home — you see exactly what you are getting before closing |
| Builder warranty | Typically 1 year workmanship, 2 years systems, 10 years structural (Florida minimum) | No builder warranty — as-is unless seller provides one |
| Price negotiability | Limited — builders rarely negotiate base price; incentives on options or rate buydowns more common | More flexible — seller motivation, days on market, and market conditions all create negotiation room |
| Timeline | 6–14 months to build after contract — do not plan around a specific move date | Standard 30–60 day close |
| Fee verification | Request CDD disclosure document from builder (legally required in Florida); get HOA docs in the public offering statement | Request seller tax bills (2 years) to confirm actual CDD; request HOA financials and reserve study |
| HOA health | HOA is builder-controlled initially; community is still being established; reserve funding may be minimal | HOA is resident-controlled; request reserve study funding percentage — 70%+ is healthy |
| Home inspection | Required — do not skip. Builder errors are common. Use an independent inspector, not the builder's. | Required — full inspection including roof age, HVAC, plumbing, foundation |
Reverie at Silverleaf (new construction): Dream Finders is an active builder with a track record in Northeast Florida. Get the CDD disclosure document (confirm no CDD), request confirmation of any SilverLeaf master HOA in addition to the Reverie HOA, and get a written timeline for your lot's construction start and projected completion before signing a contract. Do not use the builder's preferred lender without comparing rates independently.
Parkland Preserve (resale): Ask the seller for two years of tax bills — this confirms both the property tax amount and the specific CDD amount for that parcel. Request HOA financials and the most recent reserve study. Parkland Preserve was built from 2019 through approximately 2024, so homes in earlier phases may be approaching the point where HVAC systems and other components are nearing the middle of their service life. A full home inspection with HVAC age verification is important.
WaterSong at RiverTown (mixed): For new construction at WaterSong, ask Mattamy for the CDD disclosure document. For resale, pull the specific parcel at sjcpa.us — the CDD amount is visible there. Also verify the flood zone designation for the specific homesite. Properties adjacent to the St. Johns River are not uniform in flood risk — lot position within the community matters significantly.
Villages of Seloy (resale, original builder closed): This is the highest due-diligence scenario in this market. Request HOA reserve study, three years of financial statements, and meeting minutes. The builder closure means there is no developer backstop for future capital needs. Everything comes from resident reserves and assessments. Know the reserve funding level before closing. See the Villages of Seloy true cost guide for the full checklist.
Florida builder contracts for new construction are heavily weighted toward the builder. Key points to review before signing:
Consider hiring a real estate attorney familiar with Florida new construction contracts to review before signing. Builder contracts are not standard forms — they are drafted by the builder's legal team.
Whether you are looking at new construction or resale in St. Augustine, the right agent will know the specific communities, have current pricing, and understand what documents to request before you make any decisions.
Connect with a Local Agent →Florida new construction warranty minimums per Florida Statutes § 553.84. Due diligence guidance is general — consult a licensed Florida real estate attorney for contract review and a licensed home inspector for property inspection. This page is for research purposes only.