Land lease verses owning the land. (Bear, Magnolia: apartment, townhome, place to live)

[Summering]

Ahh, your all a bunch of sweeties!! .........You know that right? You Delaware people are the most fun to come visit on here........
I travel to your state a lot because, you have my favorite thing in the World, the OCEAN!
We usually stay in Angola Bay, and have just a wonderful time. This year we are going to Bethany Beach.......The Bear? or something like that......LOL
Townhomes with a golf course, nice pool, club.........not too far from the ocean. I am hearing they have their own jitney over to the beach. We're going the 7th to the 14th, with a two year old and a one year old in tow.....( OH MY)
Me thinks Summering will be quite busy and have her hands full..........
I hope to give their parents some time to themselves. Anyone know of a restaurant in that area they could chill at?
I'm so excited to come your way for a nice visit. I'll be in that ocean even if it is 70 degrees.......Oh yes.
My big favorite is your Cape Henlopen State Park.......its a dreamy summer place to be.
Can you tell I love your area or not?

[Summering]

Delly, your funny..........gonna' mold Charley huh........yep, we need more level headed men in this world, thats for sure......
Problem with being a Delawarean is the same as trying to be a Pennsylvanian........
We have all the NJ, NY, and other "transplants" too. ( I am writing this having moved here 13 yrs ago from Jersey myownself LOL)
Everyone, especially now...........is leaving the high taxed and highly congested states for DE and PA...........Its going to always be a mixture now. Its just the way it is.
Actually becoming the same in both of the Carolinas...........
Americans are spreading out........!

[rockky]

Hey, Summering!! Yep. Everyone's either in DE or NEPA!!

Nice seein' ya here!

Edited to say...I just saw your other post. You are probably staying at Bear Trap. That's about 4-5 miles from my DE home. There's tons of restaurants! Where to start? Maybe a new thread, so this one can stay on topic.

[Keats]

Originally Posted by Summering

Ahh, your all a bunch of sweeties!! .........You know that right? You Delaware people are the most fun to come visit on here........
I travel to your state a lot because, you have my favorite thing in the World, the OCEAN!
We usually stay in Angola Bay, and have just a wonderful time. This year we are going to Bethany Beach.......The Bear? or something like that......LOL
Townhomes with a golf course, nice pool, club.........not too far from the ocean. I am hearing they have their own jitney over to the beach. We're going the 7th to the 14th, with a two year old and a one year old in tow.....( OH MY)
Me thinks Summering will be quite busy and have her hands full..........
I hope to give their parents some time to themselves. Anyone know of a restaurant in that area they could chill at?
I'm so excited to come your way for a nice visit. I'll be in that ocean even if it is 70 degrees.......Oh yes.
My big favorite is your Cape Henlopen State Park.......its a dreamy summer place to be.
Can you tell I love your area or not?

Summering,make sure you go to the Tuna place on route #26,right near Bear trap.If you have kids take them to the Beach cafe on route #1 in Bethany.There's some places in Bethany but the traffic and parking are terrible.Fenwick Island state park is the best beach.Stick with that jitney during the day.If your there for the 4th of July,it's the best parade in Delaware,right in Bethany,and they have fireworks on the beach at night.We love it there,but you can't afford anything there now.Have a good time. Keats

[rdlr]

Originally Posted by Summering

Ahh, your all a bunch of sweeties!! .........You know that right? You Delaware people are the most fun to come visit on here........
I travel to your state a lot because, you have my favorite thing in the World, the OCEAN!
We usually stay in Angola Bay, and have just a wonderful time. This year we are going to Bethany Beach.......The Bear? or something like that......LOL
Townhomes with a golf course, nice pool, club.........not too far from the ocean. I am hearing they have their own jitney over to the beach. We're going the 7th to the 14th, with a two year old and a one year old in tow.....( OH MY)
Me thinks Summering will be quite busy and have her hands full..........
I hope to give their parents some time to themselves. Anyone know of a restaurant in that area they could chill at?
I'm so excited to come your way for a nice visit. I'll be in that ocean even if it is 70 degrees.......Oh yes.
My big favorite is your Cape Henlopen State Park.......its a dreamy summer place to be.
Can you tell I love your area or not?

SUMMERING........Bear Trap Dunes! Wow! The best place to be! You won't want to leave! My work takes me that every couple of weeks, and that subdivision is the most unique I've ever seen! I don't even think of it as a "subdivision" because it is so much more! It's like an old small town, brick streets, and beautiful colonial style homes with huge front porches in a setting of blue and pink hydrangeas! Such a southern feel, it has! And, yes, the jitney travels up and down the streets picking up the townies to take them to the beach. There's a strip center there with a spa, and a few other quaint shops. Restaurants are in abundance near Bethany. I'll tax my memory to see which you might like the best. Good Choice! There's nothing mundane about that place!

[Always Wondering]

I have been following this thread since yesterday (but couldn't remember my log-in info until today)! Anyway, I have enjoyed it immensely and think I have learned a lot.

Hubby and I (in our late 50's) live in upstate NY and are thinking of relocating/semi-retiring somewhere in the next 2-4 years -- depending upon how long it takes us to get it all together in order to move.

We currently live in a rural area on 13 acres in a 60+ year old house -- between the land and the house, AND the winters here, we are really getting worn out with it and just recently I thought, "Hey, how about Delaware?" so I've been doing some research....

My first google search brought me to Pot Nets and I am very glad I have read what you all have had to say about that. I am leaning towards a 55+ community -- love kids but been there, done that! Also, I like the idea of living in a one-level house and having less maintenance than we currently have.

Southern Meadow (just checked it out) looks lovely and I'd love to know more about that. Does one buy a house AND pay lot rent or an HOA or both -- I guess I didn't understand that part!

Anyone would would care to enlighten me and point me towards more info on Southern Meadow as well as other communities -- wow, I'd really appreciate it.

You all sound so friendly and open -- my kind of people! Looking forward to your replies!

Thanks!

[rdlr]

[quote=Always Wondering;3704255
Anyone would would care to enlighten me and point me towards more info on Southern Meadow as well as other communities -- wow, I'd really appreciate it.
You all sound so friendly and open -- my kind of people! Looking forward to your replies!Thanks![/quote]
---------------------------------------------------------------
Hi, Always Wondering! I don't live in a 55+ community, but most of the people moving in to Delaware are going that route. I'm a Delaware local, and live in a small town, mostly with other locals. I'm sure those living in the 55+ areas will fill you in, but your choices are:
55+ Community with custom built home, own the land - Fee Simple
55+ Community with manufactured home, rent the land - Leasehold
55+ Community with modular home, rent the land - Leasehold
There's condo ownership, also for 1 or 2 55+ Communities
Whatever you decide, and when you decide, be sure to have your attorney review your documents prior to settlement. Just today, I heard that an elderly couple got behind in their lot rent in a 55+ community, and their doublewide manufactured home is being auctioned off, to pay off the lot rent which is in arrears. The husband died a few months ago, and her SS check wasn't enough to pay the bills. So now, she has no husband, no lot, and no house. Very sad.

[elizamary]

Originally Posted by Always Wondering

I have been following this thread since yesterday (but couldn't remember my log-in info until today)! Anyway, I have enjoyed it immensely and think I have learned a lot.

Hubby and I (in our late 50's) live in upstate NY and are thinking of relocating/semi-retiring somewhere in the next 2-4 years -- depending upon how long it takes us to get it all together in order to move.

We currently live in a rural area on 13 acres in a 60+ year old house -- between the land and the house, AND the winters here, we are really getting worn out with it and just recently I thought, "Hey, how about Delaware?" so I've been doing some research....

My first google search brought me to Pot Nets and I am very glad I have read what you all have had to say about that. I am leaning towards a 55+ community -- love kids but been there, done that! Also, I like the idea of living in a one-level house and having less maintenance than we currently have.

Southern Meadow (just checked it out) looks lovely and I'd love to know more about that. Does one buy a house AND pay lot rent or an HOA or both -- I guess I didn't understand that part!




Anyone would would care to enlighten me and point me towards more info on Southern Meadow as well as other communities -- wow, I'd really appreciate it.

You all sound so friendly and open -- my kind of people! Looking forward to your replies!

Thanks!

Hi Just wondering and welcome!
city data is just chock full of information and I certainly wish that I knew of this site before we moved.

My hub and I just moved to Southen Meadows Feb a year ago. We love it.
Like you the home is easy to maintain and no steps. We came from a rather large 3 story twin home in Phlly. Steps were definately something we wanted to be a thing of the past. Even the steps coming into the house are just about 3.
SM does cut you grass but you tend to the garden unless you want to pay a fee.
We do NOT have a HOA as of yet and it doesn't seem like we will in the near future.
You are correct, you do own the home but lease the land. We pay lot rent the first of every month.
our utilities have dropped dramatically comparing to our other home.
No sales tax in DE which is a big help.
Grass cutting fee in included in the lot rent along with snow removal, use of the pool and clubhouse.
Keep in mind, since you do not own the land, you do NOt pay taxes on the land.
There are many 55+ communities springing up. Some you do own the land and some you don't. the ones you do own the land, the cost is more and you pay full taxes on the land as well.
I live in Southern Meadows, there is barclay farms, Wild meadows, Nobles pond, Bon Ayre, Longacres and champions club.
There are many to choose from.

We too had been there done that with kids. I love them but it is so nice living in a community with no kids. Of course, grand children visit which is fine.

It is good to start researching to see if this is right for you. We started 2 to 3 years before I actually retired.

you will hear negatives and positives on this issue. Take it all in and find out the truth for yourself.
Stay away from Pot nets. As summering said, many have been screwed there.
When we were visiting DE searching for the perfect home, we came across a couple that lived in Bon Ayre who Warned us about Pot nets back then. So we didnt' even bother to look.
check all fine print and ask any question you can think of.
Another poster also from NY is looking into Nobles Pond. he has done a tremendous amount of research and is great with figures and technical stuff.
Hi Name is Charley and he will be posting from time to time.
Take care

[Charley]

Originally Posted by Always Wondering

Southern Meadow (just checked it out) looks lovely and I'd love to know more about that. Does one buy a house AND pay lot rent or an HOA or both -- I guess I didn't understand that part!

Anyone would would care to enlighten me and point me towards more info on Southern Meadow as well as other communities -- wow, I'd really appreciate it.

You all sound so friendly and open -- my kind of people! Looking forward to your replies!

Thanks!

Hi Always,

Having researched and visited Southern Meadows and others, I can provide some info for you about HOA / ground rent fees.

For all 55+ communities, you will have a monthly HOA charge for the use of the clubhouse and pool, maintenance of the community, lawn mowing, snow removal from public areas, etc.

In those communities that are "land lease" or "ground rent", like Southern Meadows, Barclays, Wild Meadows, Nobles Pond and others, in addition to the HOA (Home Owner Association) fees, you will pay a rental fee.

Although there is certainly a range in the fees in 55+ communities, in general, the "fee simple" home, which is owning your own home and the land upon which it sits, the HOA fees were in the neighborhood of $160 to $180 per month in 2007. I don't have the current numbers for what they might be right now.

In the land lease communities, the HOA fees / rents were in the neighborhood of $385 to $405, again based on 2007 data.

None of the above statistics include real estate taxes on your home, which could be anywhere from $200 (in Southern Meadows) to up to $2400 (in Providence in Sussex County). And yes, again, these are based on 2007 data.

I hope this information is helpful. It's been my experience that if you call or write to the sales offices of the various communities, they will basically answer any question ... although there is one (Bon Ayre) where if you get the wrong guy on the phone, he's not 100% cooperative.

Charley

[Charley]

Originally Posted by elizamary

We do NOT have a HOA as of yet and it doesn't seem like we will in the near future.

Elizamary? Is the $365 per month a combination of land lease and HOA or did I get that wrong? (yes ... it happens )

Charley