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How does leasing a lot compare with purchasing?
The answers may surprise you. For a detailed look at the considerable
advantages to leasing, consult the charts below:
|
FEE SIMPLE PURCHASE OF YOUR LOT |
LIFETIME LEASE OF YOUR LOT |
1. YOU WILL PAY $35,000 and up for a lot in a top-quality manufactured home subdivision which includes a total amenity package and recreational facilities. |
1. YOU DO NOT PAY for the land. You can invest the $35,000 (or more). You will be receiving interest and still have the money to use if you need it. |
2. YOU WILL PAY property taxes of $1700 to $2200 per year. |
2. YOU DO NOT PAY property taxes. You pay license/misc. fees of approximately $200 per year. |
3. YOU WILL PAY recreational and maintenance fees of $180 to $250 per month and you are responsible for your share of expenses for the upkeep of the subdivision streets, public areas and facilities. There is no cap on this fee. |
3. YOU DO NOT PAY maintenance fees because everything is included in your land lease. We provide the security and maintain the clubhouse and all recreational facilities, plus all of the common areas throughout the community. |
4. When a subdivision is sold, the developer has no further interest in it. Consequently, YOU WILL HAVE BOUGHT the product of his short-term intentions. |
4. YOU HAVE CONTINUING PROFESSIONAL MANAGEMENT with an owner's interest in the community who sets reasonable rules and regulations to maintain a quality community. |
5. YOU MAY BE SURROUNDED by poorly maintained or vacant lots, because in many subdivisions, lots are initially sold but not built on until years later. |
5. In a land lease community, the developer sells homes that will be occupied within a year or less, assuring CONTROLLED COMMUNITY GROWTH. |
6. YOU HAVE LITTLE CONTROL over the quality or value of houses being built in a subdivision. |
6. HIGH MINIMUM STANDARDS are set for the housing being built in Windmill Village, which in turn protects your investment. |
7. YOU now SHARE in the legal LIABILITY of all common areas and facilities, including streets, clubhouse, pool, etc. |
7. Windmill Village RETAINS LEGAL LIABILITY of all common areas and facilities. |
