So you buy the house inexpensively. Usually are 50-60k, but technically you dont own the lot it sits on. So the lot rent pays for the ground the house sits on and the upkeep of the community and its amenities. Like a rent/HOA fee all in one. If you decide to leave you still sell the house and get back what you put into it. Its a 55+ community and this tends to be an somewhat affordable option for those retired or looking to soon.
Is that right 745.00 for lot fee That's crazy
It increases yearly, and new residents may start at a higher rate.
$ 745. 00 a month
Got to remember this is a trailer Park. Between $750 + for rent fees and $600 for the unit it would be more economical to buy brick and mortar and its yours. This is not a financially responsible move for a retired person. The only one that makes out is the land owner. Let's say there's 300 units @ roughly $750 + a month that's $225,000 rent income a month. Translates into 2.7 million minimum a year. What happens if you decide its not for you and want to move? If you are not able to sell the trailer then you have to pay to have it moved.I can't see places like this being a sound move for anybody especially retired people. You get nothing of value for your money.
What are the taxes. Whi ch I would assume is separate from the lot fee!
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