Baywood Living (Magnolia: for sale, lease, hotel)

[lcw130734]

Hi,

I've been looking at Delaware as a possible retirement location (from NJ). I keep going back to the Baywood website as I really like the home styles, and it looks like you get a nice home for a reasonable amount of money.

I understand they are a land-lease community. If anyone lives there, would you please share with me what the land-lease fee is and your opinion of the community.

Thank you!

Lynne

[elizamary]

Originally Posted by lcw130734

Hi,

I've been looking at Delaware as a possible retirement location (from NJ). I keep going back to the Baywood website as I really like the home styles, and it looks like you get a nice home for a reasonable amount of money.

I understand they are a land-lease community. If anyone lives there, would you please share with me what the land-lease fee is and your opinion of the community.

Thank you!

Lynne

Hi Lynne,
We live in a land lease 55+ community in Magnolia DE and love it.
I did check out baywood and it looks quite nice.
Our community does not have a golf course but we do have a pool and clubhouse.
We just moved here last Feb. I can't believe it is almost a year already.
Anyway, my advice to you would be to come to DE and check out several communities first hand and then decide. After all it is a major decsion.
We moved from PA and I can tell you living here is much easier on our finances.
We are only 35 mins from the beach. We looked at a community in Sussex county called Sussex West which was reasonable but the traffic in that area scared us away. The summer it is so crowded.
You can do a google on 55+ communities in DE and see what you come up with.
Also, there is a thread in city data DE that is all about 55+ communities.
Great information to be found here.
Good luck!

[rossc]

The house I looked at was $450k with a land lease of $1000/month. I wasn't really interested in buying as I knew the land lease was stupid and the houses were overpriced, but I did inquire just for laughs. Baywood is owned by Tunnell, so there won't be any deals there.

As far as the community, it is very nice and the golf course is pretty much world class. They are planning on hosting a Masters and/or US Open in the near future. I believe they are building a hotel somewhere on the property which is required to host a Masters tournament. Baywood is not 55+ or if it is, it is not enforced. Baywood is only minutes from the water on a bad day, so that will effect prices.

[rockky]

This is the same family that owns Pot Nets. rossc, hopefully, will explain that whole deal. He does better with these things than I.

[rossc]

It's a different clientelle than potnets. Baywoods is VERY upscale. The houses and land rents are very high but they are selling, so there must be a market. I'd imagine that when you buy you are getting a long term lease, which would protect you from increases other than the built in 5% annual increase. For that kind of money and knowing how Tunnell operates, I wouldn't buy without at least a 10 year land lease.

[lcw130734]

Thank you all for your responses. It's time for a roadtrip to Delaware to see the communities in person.

Lynne

[platinum500]

I have a home for sale in Baywood 3 bedroom 2 bath and the land lease is
reasonable for what the amenities are. It is true Baywood is upscale but the
landscaping is beautiful and the community is well maintained. The homes are well made and the neighbors friendly with some families but mostly retired or
seasonal. The Pot nets is also owned by Tunnell but a different type of community not on a Golf Course with a Country Club like Baywood. I hate to leave but was relocated by the Company I work for.

[platinum500]

I forgot to add the land lease is much longer than ten years as asked above.

[Bob Clemons]

Hi:
We have just looked at Baywood and love it. Still trying to gather information to make the decission to move or not. Wondering how long it took to sell your home, and what the model was?

Anyone else with any information about Baywood, please post

Thanks

[12buttons]

Originally Posted by elizamary

Hi Lynne,
We live in a land lease 55+ community in Magnolia DE and love it.
I did check out baywood and it looks quite nice.
Our community does not have a golf course but we do have a pool and clubhouse.
We just moved here last Feb. I can't believe it is almost a year already.
Anyway, my advice to you would be to come to DE and check out several communities first hand and then decide. After all it is a major decsion.
We moved from PA and I can tell you living here is much easier on our finances.
We are only 35 mins from the beach. We looked at a community in Sussex county called Sussex West which was reasonable but the traffic in that area scared us away. The summer it is so crowded.
You can do a google on 55+ communities in DE and see what you come up with.
Also, there is a thread in city data DE that is all about 55+ communities.
Great information to be found here.
Good luck!

If I am 55 and don't want a "community" but would prefer to be in a more private setting with lots of trees, and maybe older homes with full size dining rooms, and kitchens, and less bonus room type houses..where could I start looking for my husband and myself? Would like to stay under a 100 a sq ft, and we are NOT beach people - I have not been to a beach in 30 years!
thanks..but I do like to garden, and decorate..very traditional Colonial mindset. Used to live in CT but the winters were killers...
Thanks!