Which is better? To buy a lot or lease a lot for your manufacutred home? There are retirement communities of both kinds in Florida.
- Up-front costs for a home site can run $35,000 in a quality park that has recreational facilities and amenity packages.
- Maintenance fees are charged for upkeep of streets, common areas and facilities. Fees can range from $150- $200+ per month….with no caps on the increases!
- Manufactured homes on owned ground are assessed property taxes.
- Homeowners assume liability for injury in pool, clubhouse, roads, etc.
- Elected board members may not be experienced in park operations, are not always full-time residents, can be members of special interest groups, and are subject to constant change.
- You can save $35,000 and invest that money, receiving interest on it while still retaining control over your funds.
- No Maintenance fees are necessary because maintenance of the common areas and the streets are included in your land lease which does have a cap!
- Manufactured homes on rented ground need only yearly decals.
- The park owner assumes full liability on common areas with all improvements.
- Consistent ownership teamed with professional management targets the total good of all. Sensible rules assure individual homes are maintained in a harmonious atmosphere.