Land-Lease vs. Own
By leasing instead of owning the land, you will:
- Reduce your family’s housing budget by an average of 20%
- Realize a 32% overall savings
- Pay half as much for down-payment
- Pay for 20 years instead of 30
Leasing protects all involved parties because it spells out the contractual agreement between the parties at affordable, market prices. Many experts say leasing land will soon be as common as leasing a vehicle, which has become a preferred avenue for many car owners in the United States.
Land-Lease Questions and Answers
How is my rent determined?
The month-to-month option and one-year options are subject to rent adjustments based on market conditions at the end of each term. It is in everyone’s interest to keep rent increases to a minimum.
Will my home appreciate in value?
Appreciation is a function of location, market conditions, and condition of the home at the time of sale. Our substantial investment in creating a high quality community is intended to protect and grow your investment.
Who pays the taxes?
You pay property taxes on your home. We pay the base property taxes on the land and any community improvements. If property taxes on the land and improvements increase because the value of the community is significantly improved, this increase will be divided equally among each homeowner.
Do I qualify for income tax deductions?
Yes. The interest on your monthly mortgage and property taxes are deductible. You may also qualify for Wisconsin’s rent credit.
What if I want to sell my home?
The lease is assignable to a new resident subject to basic approval criteria.
How long is my lease?
The length of your lease is up to you. To maximize your options and accommodate both short and long term plans, we offer the following lease alternatives:
- One-year lease with annual adjustments