Land Leasing at Fountainhead: the Right Choice for 55+
Land lease communities are not a new idea, and have been tried and tested by time as a successful alternative to the high cost of land - home ownership. A safe and financially rewarding relationship for the home owner, land leasing offers a lot of freedom and the way to down-size in style.
There is no better value than a new factory-built home on leased land. Real estate taxes are lower, and all the other home ownership expenses are less costly as well. It is the best way to beat the high cost of single family home ownership anywhere. Count on this because of the financial rewards that begin with the first deposit or initial investment.
Highlighting the Financial Rewards Of Land Leasing:
Financial rewards include lower owner expenses- Lower property taxes. This is the biggest savings to the home owner. Real estate taxes are much lower in a land leased community.
Financial reward: because all the new homes are Energy Star Certified the home owner starts saving before the first flip of the light switch. The lower carbon footprint is engineered in before the first nail is hammered into place. High R-Value insulation, no leaky windows, no sloppy corners.
Financial reward: No big mortgage. Who, at 55+ years of age wants another big mortgage? The cost of buying a manufactured home on leased land is much less of a financing obligation than a thirty year mortgage. Yes, a down payment with income verification is required to buy a factory built home on leased land. Yes, it can be financed over a period of 15-25 years. But it is so logical that less amount to finance over a little shorter term is less paid out in the long-run.
Financial reward: The following costs are lower in a land leased community-municipal utilities, taxes, private cartage, home care costs, home upkeep responsibilities.
Home Ownership opportunities abound in the hundreds of land leased communities in NJ. Not all land leased communities are age-restricted. Fountainhead, in Jackson is a 55+ community and offers new and pre-owned homes for people at least 55 years of age. New home prices range from approximately $87,000 to $172,000, gas heat, central air, and energy efficient homes. Financing is available for periods as long as 25 years and as short as 10 years depending on the credit worthiness, down payment and home particulars.
Living in a land leased community is really no different than living anywhere else except there is less worry that the ever-increasing ownership expenses will eat up the nest egg. It is almost like going back 30 years in the home ownership market. Annual expenses under $5,000, utilities averaging $150 a month year round, just enough land to maintain privacy but not so much that the weekend is consumed with upkeep. Fountainhead offers an “a la carte” selection of services so the home owner can do as much or as little of the outside maintenance as he is inclined to do, and the home owner can always choose an outside contractor if they desire- just like any other single family detached home ownership experience.
Fountainhead uses a credit application and background check to maximize the success of the financial arrangement between buyer and Fountainhead, after all it is a credit transaction. Living in a land leased community of people at least 55 years of age is living in a community of like minded individuals who know what they want and expect to live within their means as they enter the next phase of life as empty nesters.
New homes offer energy efficiency; ample natural lighting, spacious storage, residential exterior styling, quality cabinetry and 10 year limited structural warranty. Homes are available in the established neighborhood and for future construction. Models are on site for future home owners to discover and to customize to their own style. Factory-built homes are equal to any other form of construction. How it came to be built is not as important as the cost saving of owning a new factory-built home. NJ
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