U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Delaware
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
 
 
Old 03-28-2007, 07:58 PM
 
1,642 posts, read 3,288,690 times
Reputation: 1146

Advertisements

Ohhhh...wow. Didn't know that. They just had a big grand opening and invited the local business community. I was told the homes looked rather nice. I'll have to check that out.
Quick reply to this message

 
Old 03-28-2007, 08:07 PM
 
Location: New Jersey
5,295 posts, read 6,692,729 times
Reputation: 3007
Quote:
Originally Posted by rockky View Post
Ohhhh...wow. Didn't know that. They just had a big grand opening and invited the local business community. I was told the homes looked rather nice. I'll have to check that out.
It was mentioned in their FAQ's.

To bad...nice looking place.

2 summers ago, we found a real nice house in Long Neck overlooking the river. Unfort, it was $1100 a month land lease...Ouch!!!
Quick reply to this message
 
Old 03-29-2007, 06:05 AM
 
1,642 posts, read 3,288,690 times
Reputation: 1146
Yep...sure is a lease deal.

I know the Long-Neck area was mostly land lease before the big developments sprang up in recent years. I'm surprised to see that they are doing that around Dover.

The prices I heard sounded attractive....not cheap...but OK. Guess that's why. I can't imagine anyone buying into that sort of situation anymore. I'm sure people will though. You are wise to stay away from it.
Quick reply to this message
 
Old 03-29-2007, 11:26 AM
 
1,229 posts, read 2,421,629 times
Reputation: 276
Default ?

So you own a home but not the land? Umm that sounds like a pretty bad deal to me here! I would be scared to own something on someone elses land, very scared indeed. Sorta suprised this is even legal here too. Sounds weird actually.
Quick reply to this message
 
Old 03-30-2007, 04:01 AM
 
Location: New Jersey
8 posts, read 21,672 times
Reputation: 10
Default 55 plus communities

Southern Meadows is a land lease community. I don't know of any 55 plus communities in Delaware that are not land lease communities. This is very common in Florida, but there are some where you can own the land. Our daughter lives in Metuchen which is not far from Woodbridge. We have ruled out Florida as a permanent residence, but we do like our winters there. 55 plus communities are popping up all over the place. We live near the Delaware Memorial Bridge and fifiteen minutes north on 295 in the Swedesboro area is a 55 plus community. I think you own the land, taxes are propably around 5 to 6 thousand a year, maybe higher. Stick built houses probably start at around $250,000. Have a great day.
Quick reply to this message
 
Old 03-30-2007, 08:34 AM
 
Location: Kent County, DE
683 posts, read 1,932,675 times
Reputation: 397
Not familiar with the term land lease. Would that be the same concept as a condo where you own from the walls in? The grounds are common and you pay a maintenace fee to the association for lawn care, trash and snow removal, etc.
Quick reply to this message
 
Old 03-30-2007, 05:56 PM
 
Location: New Jersey
5,295 posts, read 6,692,729 times
Reputation: 3007
Quote:
Originally Posted by lewmac View Post
Southern Meadows is a land lease community. I don't know of any 55 plus communities in Delaware that are not land lease communities. This is very common in Florida, but there are some where you can own the land. Our daughter lives in Metuchen which is not far from Woodbridge. We have ruled out Florida as a permanent residence, but we do like our winters there. 55 plus communities are popping up all over the place. We live near the Delaware Memorial Bridge and fifiteen minutes north on 295 in the Swedesboro area is a 55 plus community. I think you own the land, taxes are propably around 5 to 6 thousand a year, maybe higher. Stick built houses probably start at around $250,000. Have a great day.
Still wonder if Jonathan's Landing is a land lease. If it is, then screw Delaware and we'll end up in South Jersey. Paying 4-5 grand is still better than 8 grand. Plus there's a good chance we can buy very close to cash after selling our house.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~

UPDATE

Jonathan's Landing is NOT a land lease.

http://www.mckeegroup.net/news_item.asp?id=14

Last edited by camaro69; 03-30-2007 at 06:20 PM..
Quick reply to this message
 
Old 03-30-2007, 05:59 PM
 
Location: New Jersey
5,295 posts, read 6,692,729 times
Reputation: 3007
Quote:
Originally Posted by from PA View Post
Not familiar with the term land lease. Would that be the same concept as a condo where you own from the walls in? The grounds are common and you pay a maintenace fee to the association for lawn care, trash and snow removal, etc.
Not really the same. In a Land Lease someone else owns the land that the house is on. Therefore you pay them a monthly rent. When the lease expires rents go up and possibly the land could be sold.

Therefore you own a house with no where to go and you're screwed.
Quick reply to this message
 
Old 03-31-2007, 06:57 AM
 
Location: New Jersey
8 posts, read 21,672 times
Reputation: 10
Default 55 Plus Communities

If you don't mind ground rent/land lease there are 55 Plus Communities on Rt 9 near the shore area, Atlantic City, Ocean City, etc. There is also a stick built community on Rt 40 near the Hamilton Mall. Continuing south there is a lovely manufactured community called Cranberry Run in the Hammonton, Vineland area, located just outside Buena Vista. (Farm country) We found paying ground rent in New Jersey is comparable to our taxes. In Delaware property taxes are low, ground rent is high in comparison. In Southern Meadows, I believe your land lease includes water/sewer, lawn care, street maintenance, clubhouse and pool. The place we visited outside of Dover on Rt 13, the ground rent started at approximately $300, with a $50 increase every three years and you got nothing in return. You also have hidden cost that no one tells you about. What you said about owners selling property and leaving people with no place to go is happening in Florida. It is important to have a long term lease. Friends of ours have a 99 year lease with a maximum of 4% a year. They are pretty safe in terms of land being sold out from under them.
Quick reply to this message
 
Old 04-15-2007, 11:14 AM
 
7 posts, read 22,459 times
Reputation: 13
Default looking to retire

There a number of 55 and older communities around Dover or even Middletown that would be an easy commute to Dover. The new construction takes about 1 year to build. It all depends on your need and timing.
Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


 
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Options
X
Data:
Loading data...
Based on 2000-2011 data
Loading data...

123
Hide US histogram

Over $84,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Delaware
Similar Threads

All times are GMT -6.

2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top