Why does it make sense to own my home, yet lease the land it sits on?
There are some real dollars and cents advantages to land-lease. To begin with, you pay less on the purchase price of your home because you only pay for the home and not the lot. By leasing your land you avoid the large capital outlay of purchasing a serviced lot. If you were to invest this money, you would offset a substantial portion, if not all, of your lease through earned interest. A second advantage of not paying for a lot is that you can afford to invest in the quality of your home. A third advantage is the extensive park like setting extending your privacy and enjoyment of your yard. A fourth advantage is the maintenance and included amenities. Shelter Cove will include a 5,000 square foot clubhouse equipped with a general meeting hall and party rooms, swimming pool, and exercise rooms. There is a 100 slip yacht basin, walkways, waterfront, as well as a gated entrance. Maintenance includes grass cutting and trimming, snow removal including driveway and front walkways.
Finally, and perhaps most importantly, land-lease is a legal and effective way to ensure that Shelter Cove remains a lifestyle community.
Land lease is very common today. There are many benefits to owning your home while leasing your land. To read more please click on the article below.