Yesterday I posted a link to the limited inventory of homes in the under 100,000 and 100K-125K prices ranges.  Here is a link to what's showing on today's inventory of mobiles homes on lease land.  I received a comment from one of my readers that he's had two friends seek employment in other parts of the state because they couldn't afford to buy a home here. 


Most people prefer to buy a home with land included but, with a limited budget, a home on leased land is actually not a bad option.  When you consider your buying power, you can get a much nicer home (for less money) on leased land than one that includes the real estate, and it beats paying rent (which just means you're paying your landlord's mortgage instead of your own).


Let me give you a potentially new perspective on the benefits of buying a home on leased land.  It's very difficult to find a decent home (one you'd want to live in) for under $150,000 in our current market.  For $60,000 you can get quite a nice home on leased land.  That creates a $90,000 price differencial.   If you make a lot lease payment of $325 (example), you could pay for over 23 years and still be ahead.   Remember, the lot lease generally includes water, sewer and (sometimes) garbage so your net cost is actually less.  Plus, your taxes are less because you are not paying for the value of the real estate.  You are only paying on the lower value of the mobile home.   Between taxes and utilities you would probably save around $100 per month, so your net land lease cost is $225.  That's 33 years of payments for the $90,000 price differential.  


I realize, of course, the lot lease will increase over the years (affecting the numbers) but do you see my point on all of this?    If you're on a limited budget but still want a home you can be proud to live in... consider a manufactured home on leased land. 


For a custom consultation and the most current info, please contact:

Carol@TopPropertiesWenatchee.com 
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