The Country Lakes Co-Op Inc., a resident-owned manufactured home community in Palmetto, Florida, with 471 homesites, has homes for sale with and without a co-op share. The homes range from $12,000 to about $35,000 without a co-op share, according to Judy Smith who lives here and is licensed to sell the homes on leased land. The current least expensive home with a co-op share is $55,000, and those are handled by licensed real estate agents.

When comparing expenses, according to what dallasnews informs MHProNews, a leaseholder will pay $7,200 a year while a share owner will pay $4,100 to live in Country Lakes, a difference of $3,100. At the current published share price of $49,500, return on investment equals about 6.3 percent; but considering the price differential of about $30,000 between the share price and the leased price, the return is more like ten percent, which is tax free.

Meanwhile, at the Westwind co-op in Dunedin, Florida, with 380 units, land-lease homes rent for $520 a month while maintenance fees for homes that have shares range from $120 to $150 a month. Units on leased land range from just under $14k to the mid-20s. Currently available homes that include a share like the the two-bedroom, two-bath home with nearly 1,000 square feet is $56,900. The most expensive home is listed at $112,000, but most of the homes with shares are in the $60,000 to $70,000 range.

Compared to a similarly-sized condo or a small house, it is less expensive to purchase and to operate, and there are no steps to climb. ##

(Photo credit: westwindownedcommunity–one of two swimming pools at Westwind)

  Article submitted by Matthew J. Silver to-Daily Business News-MHProNews