FINANCIAL BENEFITS

Many people don't understand the financial benefits that can be realized from leasing land while owning their own home. When you live in a land-lease manufactured home community, you purchase your home but lease the land where your home is located. When homebuyers make their housing purchase with land costs included, their total housing costs increase significantly. When purchasing your home, but leasing the land your home is sited on in a manufactured home community, your initial dollar investment is much lower.

This lower initial investment puts more money in your budget each month to either save, cover living expenses, or to give you some of the extras you want and need. If you invested your savings, the earnings could offset the rent you pay on your home-site, further reducing your monthly expenses. You could decide to make use of your monthly savings in numerous ways. You may initially wish to buy a bigger home since land costs are not included in your home purchase. You may decide to take more vacations or buy that boat you have always wanted.

Another financial benefit of living in a manufactured home community involves real estate taxes. When leasing land, real estate taxes are paid by the community owner and are included in the monthly land rent. The individual homeowner only pays taxes on the value of his or her home, usually in the form of personal property tax.