New Construction Homes in Pace

The new-home market in Pace

Pace is a suburb of detached houses. Census data shows 86.9% single-family detached and 0.4% of units in larger buildings, so new construction here means new subdivisions and infill lots, not townhome towers. Production builders active across Santa Rosa County, D.R. Horton and Lennar among them in neighboring Milton, compete with regional and local builders who build on individual lots.

Pace is unincorporated. Santa Rosa County issues permits and does code inspections, and water and sewer can come from different providers depending on the area. Confirm who serves the lot and whether any impact or connection fees are already in the contract price.

Inventory changes monthly, so I build a current list of active Pace communities for each buyer instead of relying on last quarter's names.

Resale versus new in Pace

The resale numbers set the ceiling a builder has to justify. According to Zillow, a 3-bedroom in Pace is about $287,830, a 4-bedroom about $371,615, and a 5-bedroom about $524,461. Five-year growth was 15.8%.

The median Pace house was built in 1996, so a typical resale is around 30 years old. At that age, buyers are looking at roof replacement, older HVAC and water heaters, and a 4-point inspection for the insurer. A new home skips all of that and usually earns lower windstorm premiums because of current-code roofs, connections and opening protection.

What resale offers in return: established trees, bigger lots in some older subdivisions, and sometimes no HOA or CDD. I usually compare a new home and two resale options on the same sheet, with five years of payments, taxes, insurance, dues and expected repairs, and the answer is rarely obvious until the numbers are in.

Incentives and lender strings

With the Pace resale market this flat, builder incentives are a standard part of the pitch. They usually come as one of three things: money toward closing costs, a rate buydown, or upgrades thrown in.

• Rate buydowns and closing credits are typically conditioned on the builder's affiliated mortgage company. Ask in writing what the incentive is worth if you bring your own lender.
• A temporary buydown expires. Look at the payment in year three, not year one.
• A lower price keeps paying off: it reduces your property tax base and your loan balance.

Spec homes that are finished or close to it tend to carry the largest incentives because the builder is paying to carry them.

HOA, CDD and the real monthly cost

Most new Pace subdivisions have an HOA covering entrances, ponds and common areas, sometimes a pool or clubhouse. Some may be inside a community development district, which funds roads, drainage and utilities through an annual assessment that sits on your county tax bill.

Before signing, get the annual HOA dues, the CDD debt and maintenance amounts, the years remaining, and any developer-controlled period for the HOA. Then estimate the property tax on the finished price, less homestead (up to $51,411 in 2026) if you will live there full time.

Deposits, timelines and the builder contract

Expect a deposit at signing and possibly more when you lock options. Find out whether a Pace builder keeps your deposit in a separate escrow account or spends it on construction, and at what point it stops being refundable. The contract controls most of this, so read it closely or have a Florida real estate attorney read it.

Watch the financing contingency too. Some builder contracts give you a short window to get loan approval, and some let the builder keep the deposit if you cannot close with your chosen lender. Get preapproved before you sign, with the lender you actually plan to use, and ask what happens if the appraisal comes in below the contract price. In a flat market like Pace, a low appraisal on a new home with expensive options is a real possibility.

Completion dates in builder contracts are estimates, and the builder keeps the right to move them. If you are selling another home or relocating on orders, plan around a spec home with a firm date or a long enough rate lock.

Warranty and independent inspections

Builder warranties in this market are commonly organized as one year for fit and finish, two years for systems, and ten years for structural defects. Keep every service request in writing.

Hire your own inspector twice: once before drywall, when framing, strapping, wiring and plumbing are visible, and once before the final walkthrough. County inspections confirm code; they are not a quality check on workmanship. Schedule a third look before the one-year warranty ends to catch settling cracks, drainage and door issues.

Flood and insurance on a new Pace lot

Pace is inland, but parts of it drain toward Escambia Bay, the river and creeks. Look up the FEMA zone for the lot, ask for the planned finished floor elevation and get an elevation certificate at completion. Lenders require flood coverage in A zones; elsewhere it is optional and often inexpensive. Request the wind mitigation form at closing and send it to your insurer. If you want me to compare current Pace new builds against resale homes at the same budget, a shortlist does that in one pass.