I just discovered a financial structure where you can buy a home (mostly mobile homes it seems) and you lease the land for between $450 and $650 per month. With this lease arrangement your water, trash, and sewer fees are included.
Advantages? You own the home but don't have to pay property tax on the land (at least not directly - there's no such thing as a free lunch).
Disadvantages? 1. You basically have to pay."rent" forever and 2. What if they try to raise the lease amount? You might essentially be forced to sell if it goes up too much.
Thoughts?
Advantages? You own the home but don't have to pay property tax on the land (at least not directly - there's no such thing as a free lunch).
Disadvantages? 1. You basically have to pay."rent" forever and 2. What if they try to raise the lease amount? You might essentially be forced to sell if it goes up too much.
Thoughts?