Own Your Home, Lease Your Homesite
Manufactured homes, in private land lease communities, have become an increasingly popular choice for active adult living in the past several decades. During that time, the quality, beauty and technology of the homes, along with the amenities and activities available in the communities, have reached, and often surpassed the standards of their more traditional counterparts, while still offering the unparalleled savings and freedom of the land lease lifestyle.
Here’s how it works. Instead of buying the land on which your home is sited, you lease your homesite within the community. Generally speaking, you have the same rights of enjoyment on your leased site as you would on an owned site, and you’ll enjoy all the amenities, activities, and services of a conventional adult community, without paying any upfront property costs. You won’t pay any real estate taxes on your leased homesite, nor will you be subject to any association fees. You simply pay one easy land lease fee each month with no additional property costs whatsoever.
You remain entitled to the lease of the homesite as long as you remain occupants, and you can sell or give your home to anybody you choose, as long as they meet any community age restriction criteria and are financially qualified by community management. The monthly lease fee is indexed for inflation each year, so you can rest assured that your lease fee will not outpace cost of living increases.
The many thousands of dollars saved by leasing your homesite can be invested, used for travel or luxuries, applied toward the cost of the new home, or put towards whatever use you value most.