Lease land vs buying land for my manufactured home (Tampa: for sale, leasing)

[mdc1022]

Confusion here!!!!
I live in a VERY COSTLY upscale manufactured home community!! My home is 10 years old and immaculate!! My issue is I lease my land. I am on the golf course (not by choice) but the home was a EXCEPTIONAL BUY ( $ 12,000) and it was fully furnished a great deal well cared for and worth every penny!!!!

Where I live the "lot rent goes up 5% a year!!" I knew this going in but I have a $50,000 dollar fully furnished home that is really very nice and paid for!! I figured I can always move the house if the exclusive park here does not change the 5% rule.

Well, 4 years later it is time to move!! My "lot rent" will be over $800.00 in January!! I get no "extras" like water sewer or trash" I pay for all those on top of the rent. BUT............... It is very nice 55 and over in a plush exclusive community with rich people in here! I love it...................but the rent is getting too high...

For the past 3 months I have been looking to either sell, or move my home. I KNOW I will NOT find a nice home like I have so I prefer to move it.

I cannot find land that is reasonable, by the time I do the concrete get the power pole and all the other things I need to make the home fit, it will cost me just about $55,000.00 (including the land) but I am finding crummy land, nothing nice and its been a challenge.

I DID find a nice 55 and over park that is offering a $15,000.00 credit to move my home and on top of that they do all the concrete work, electric hook up, permits ect... it is legitimate as I know 2 people that moved there from where I live ( they were neighbors) that got fed up with the high rent.

My rent will be $415 / mo and I was told it goes up $13.00 to $18.00 a year and every 5 years they renegotiate the leases.

It has a pool and clubhouse and the amenities I want, it is quiet and a community that has been around a while and has a good rating. I just hate to move and ""rent again"" but I think the cost will be easier on me.

I am 52 they will let me in as I am single I like the land I picked ( if I do this) it is quiet, fairly up scale and decent, IF the rent goes up only $13 to$ 18 a year I can handle that for many years, but this 5% yearly is not acceptable now because my rent will start going up $40 to $50 dollars a month every year.

I will get no "extras" at the new park such as water sewer or trash" I will have to pay for all those on top of the rent but they use one company for all 3 and I was told from my old neighbors that they save $55.00 a month because they discount "bundle " the water sewer and trash.

any advantage to leasing? I just cannot seem to find decent land that is affordable any ideas?? I also do not want to sell my house it is nicer than some homes that are on a slab. My friends cannot believe I only paid 12 grand for this place it really is very nice.. I just am not sure about "leasing again."

My insurance agent did tell me I save about $400 a year by living in a park not sure why but that is one small advantage. I also wont sell my home because who would pay $800 a month for the lot rent and on top of that give me 35 grand ( my home is worth that! it is very very nice) I got it for so little because the owner passed away and the family wanted out from it the lot rent was alot to have to maintain. I got a GREAT DEAL on my home............ I really want to keep the home just not go broke paying lot rent!! any advice?? selling is not a option for me I love this place.. I was able I believe to upload 1 picture of the home. I hope to find out some information about renting vs leasing that I did not know before posting here.......

[toddanderson]

Did you look at moving it to one of the share, co-op type parks where you own the land
several of them are like $150 to 200 lot rent includes water, trash
lots are around 35,000

Originally Posted by mdc1022

Confusion here!!!!
I live in a VERY COSTLY upscale manufactured home community!! My home is 10 years old and immaculate!! My issue is I lease my land. I am on the golf course (not by choice) but the home was a EXCEPTIONAL BUY ( $ 12,000) and it was fully furnished a great deal well cared for and worth every penny!!!!

Where I live the "lot rent goes up 5% a year!!" I knew this going in but I have a $50,000 dollar fully furnished home that is really very nice and paid for!! I figured I can always move the house if the exclusive park here does not change the 5% rule.

Well, 4 years later it is time to move!! My "lot rent" will be over $800.00 in January!! I get no "extras" like water sewer or trash" I pay for all those on top of the rent. BUT............... It is very nice 55 and over in a plush exclusive community with rich people in here! I love it...................but the rent is getting too high...

For the past 3 months I have been looking to either sell, or move my home. I KNOW I will NOT find a nice home like I have so I prefer to move it.

I cannot find land that is reasonable, by the time I do the concrete get the power pole and all the other things I need to make the home fit, it will cost me just about $55,000.00 (including the land) but I am finding crummy land, nothing nice and its been a challenge.

I DID find a nice 55 and over park that is offering a $15,000.00 credit to move my home and on top of that they do all the concrete work, electric hook up, permits ect... it is legitimate as I know 2 people that moved there from where I live ( they were neighbors) that got fed up with the high rent.

My rent will be $415 / mo and I was told it goes up $13.00 to $18.00 a year and every 5 years they renegotiate the leases.

It has a pool and clubhouse and the amenities I want, it is quiet and a community that has been around a while and has a good rating. I just hate to move and ""rent again"" but I think the cost will be easier on me.

I am 52 they will let me in as I am single I like the land I picked ( if I do this) it is quiet, fairly up scale and decent, IF the rent goes up only $13 to$ 18 a year I can handle that for many years, but this 5% yearly is not acceptable now because my rent will start going up $40 to $50 dollars a month every year.

I will get no "extras" at the new park such as water sewer or trash" I will have to pay for all those on top of the rent but they use one company for all 3 and I was told from my old neighbors that they save $55.00 a month because they discount "bundle " the water sewer and trash.

any advantage to leasing? I just cannot seem to find decent land that is affordable any ideas?? I also do not want to sell my house it is nicer than some homes that are on a slab. My friends cannot believe I only paid 12 grand for this place it really is very nice.. I just am not sure about "leasing again."

My insurance agent did tell me I save about $400 a year by living in a park not sure why but that is one small advantage. I also wont sell my home because who would pay $800 a month for the lot rent and on top of that give me 35 grand ( my home is worth that! it is very very nice) I got it for so little because the owner passed away and the family wanted out from it the lot rent was alot to have to maintain. I got a GREAT DEAL on my home............ I really want to keep the home just not go broke paying lot rent!! any advice?? selling is not a option for me I love this place.. I was able I believe to upload 1 picture of the home. I hope to find out some information about renting vs leasing that I did not know before posting here.......

[holmesbulldog]

Originally Posted by toddanderson

Did you look at moving it to one of the share, co-op type parks where you own the land
several of them are like $150 to 200 lot rent includes water, trash
lots are around 35,000

hey todd, im interested it that? do you know the names of any of these type communities?

[toddanderson]

These are two I have been looking at , they are not high end like where you are at now,
but alot cheeper

Isabelle Lane - Blue Jay Estates 55+ Mobile Home Park in Palm Harbor, FL $165 month

Mobile Home Park, New Port Richey, Florida, 55+ Waterfront, Colony Cove $185 month

they include water , trash, bugs, lawn,

Originally Posted by holmesbulldog

hey todd, im interested it that? do you know the names of any of these type communities?

[sunigal99]

There are many resident owned parks in Tampa Bay. I am familiar with both of toddanderson's recommendations. I prefer Pinellas county over Pasco. But Colony Cove is on a river with boat slips, if that interests you. An older park, like my mom's in Dunedin (Golden Acres) has older singles that some buyers have pulled out and replaced w/ nicer doubles like yours. The lots run around $20-30k. I also like Briarcreek in Safety Harbor and Gull Air Village in Oldsmar.

[coopski]

A couple of things to consider...

I can see that you love your home and very sentimentally attached to it but,

-Even though you don't own your lot, it is on a golf course in an upscale community. This could have value (if you sell) that you are giving away to the owner of the park.

You may be right that the rent is too much (this I don't know) and no one will give you the price you think its worth, the only way to know is to put it up for sale for a good price and see if you get it. If you don't get your price then you could proceed with moving it.

There is a lot of value to a home already in place such as , the home set, utility hook ups, foundation, skirting, interior finish, porches, carports, awnings, garages, driveway that you now own and will have to pay (again) for in a new park.

Just some things to think about...

[toddanderson]

Thank you sunigal
these two look very nice
Briarcreek in Safety Harbor and Gull Air Village in Oldsmar and very low lot fees
hard to believe Gull Air at $30 dollars a month

Originally Posted by sunigal99

There are many resident owned parks in Tampa Bay. I am familiar with both of toddanderson's recommendations. I prefer Pinellas county over Pasco. But Colony Cove is on a river with boat slips, if that interests you. An older park, like my mom's in Dunedin (Golden Acres) has older singles that some buyers have pulled out and replaced w/ nicer doubles like yours. The lots run around $20-30k. I also like Briarcreek in Safety Harbor and Gull Air Village in Oldsmar.

[sunigal99]

Gull Aire's fee does not include water/sewer, garbage or lawn care. Just the amenities like pool and clubhouse. I'm currently debating if it's worth the extra amount. I like the low fee and it's a real nice park in a good location.

[toddanderson]

Yes I saw that it does not include anything, I am not from Florida so i dont know the costs of water and trash
and many include the bug spray of what ever it is. My way of thinking i dont really want anything included
so I have more control of my costs ,

Do you know what average of water, trash , and bugs spray costs ?

Originally Posted by sunigal99

Gull Aire's fee does not include water/sewer, garbage or lawn care. Just the amenities like pool and clubhouse. I'm currently debating if it's worth the extra amount. I like the low fee and it's a real nice park in a good location.

[sunigal99]

It's hard to say. Each area has their own service providers for water and trash. It might work out about the same depending on usage. I'm hoping to leave for a couple months in the summer, so I'd hate to be paying for what I'm not using.
Briarcreek is really nice too. Larger than normal size lots, big tall trees draped in spanish moss, right on Tampa Bay, with actual little rolling hills! But it's right behind a hospital. That's good in case of emergency, but I'm not sure how the noise would be.