Are you tired of throwing away your money each month on Lot Rent?  

Whatever you call it- ground rent, lot rent, leased land... It's no fun paying for something you will never own, and it's no fun dealing with the yearly ground rent increases, especially if you're on a fixed income.

Maybe you bought a mobile home in a leased land community because you thought you couldn't afford something else. Maybe you bought it because the community had lots of great amenities but you've found you don't really use them enough to make it worth while. Maybe you didn't realize that lot rent would increase so high so quickly. Whatever the case, We can help you! Even if you don't hate ground rent, but just need to sell your leased land mobile home, we can help!

For the price of a mobile home mortgage plus lot rent, we may be able to get you into a local condo, townhouse or even single family home on land that you own!

Let's compare the cost of mortgaging a $50,000 leased land mobile home, versus mortgaging a $150,000 "fee simple" home on its own land. 
First, the $50,000 leased land home. 
Let's assume we can qualify for a loan with a 7.5% interest rate, a 20 year term, put 25% down, get insurance of about $600/yr, taxes of about $400/yr, and a modest monthly lot rent of $600. Your total monthly payment will be around $985. 
Now let's look at some typical numbers associated with a $150,000 fee simple home loan. 
We'll assume a 4.625% interest rate and a 30 year term. Many different loan programs offer a variety of down payment options, but we'll go with 7% down for this example, which is $10,500. Since we're paying less than 20% down, we'll probably need private mortgage insurance (usually .5-1% of the loan) so let's add in about $75/month for that. Let's figure taxes at $800/yr, and insurance of about $1000/yr. The total monthly payment in this scenario is $942.
 
Remember that the $150,000 home example above only requires 7% down. If you're able to put a bit more down, say $15,000, your monthly payment will be reduced to $920. Further, if you're able to do a full 20% down, private mortgage insurance will drop off, saving you $75/month, and lowering the total payment to $767. Granted, the down payment is now $30,000, but for the sake of this example, it illustrates how much your downpayment effects your monthly payment. 
No matter how you look at it, owning your own land is a good thing. The amount you pay in a monthly payment goes toward your equity rather than into your landlord's pocket or golfing addiction. Mortgage payments generally do not go up (taxes may, but Sussex County has a history of stable taxes), while lot rent payments are practically guaranteed to. 

Call or Text Loan Officer David Bryce at 302 312 7331 to discuss your credit rating, what size loan you qualify for and how soon we can get you into your new home on land you own.


Call or Text REALTOR Erica Winn at 609 313 5748 to discuss your options. She'd love to help you make an informed decision! She can help get your mobile home sold and find you a home where you own the land.  

David can get you started by running your credit numbers, getting you set up with a credit repair agency if required while Erica can get you started on a search for a new Fee Simple (own the land) property. If you're paying a manufactured home mortgage plus lot rent, Erica may be able to help you find a home without lot rent, for close to or less than the same monthly cost. And, best yet-- the money won't be going to your landlord! You'll be building equity, and your payments won't increase the way lot rent does.  

Once you find the perfect owned-land home, Coastal Mobile can help you sell your manufactured leased land home. We sold 122 homes last year (2017). Coastal Mobile charges less commission than most mobile home park sales' offices, so you'll probably save money there, too! Ask your park what their fees are, then call our team. You'll be surprised!

We're real estate agents, and licensed REALTORS®; members of the National Association of REALTORS®, the Delaware Association of REALTORS® and the Sussex County Association of REALTORS®. They aren't.

We follow a national code of Ethics. They don't.

We advertise your home on Realtor. com, Zillow .com, Trulia .com and hundreds of other real estate websites because only REALTORS® can get your home on the Multiple Listing Service (MLS). They don't have access to all the marketing places we do!

Lower Fees, Better Exposure.

Win Win!

ERICA WINN REALTOR®
Call or Text me at 609 313 5748

 

Fee Simple Mobile Homes for Sale in Southern Delaware March 22, 2023
51
Listed
85
Avg. DOM
$219.06
Avg. $ / Sq.Ft.
$289,900
Med. List Price
Refine Results
51 Properties
Page 1 of 5
38785 Roosevelt Ave Selbyville, DE 19975
$729,000
Neighborhood: Cape Windsor
38785 Roosevelt Ave
Selbyville, DE 19975
3
Beds
2
Baths
1,792
Sq.Ft.
1981
Year Built
84
Days on Site
DESU2033816
MLS
Wow-what a property! You are never going to find anything like this again! This home is located on the last street that everyone wants to live on! Out the front porch, you are looking at the bay and...
Exp Realty, Llc
37846 Swann Dr Selbyville, DE 19975
$545,000
Neighborhood: Swann Keys
37846 Swann Dr
Selbyville, DE 19975
3
Beds
2
Baths
1,680
Sq.Ft.
1994
Year Built
15
Days on Site
DESU2037298
MLS
WOW! Check out that VIEW! This 3 Bedroom, 2 Bath home is situated on one of the 50' wide lots in Swann Keys! Plenty of outdoor space! Relax in the 3-season room overlooking the canal & Wetlands!...
Long & Foster Real Estate, Inc.
38804 Cleveland Ave Selbyville, DE 19975
$540,000
Neighborhood: Cape Windsor
38804 Cleveland Ave
Selbyville, DE 19975
3
Beds
1F11/2
Baths
4,356
Sq.Ft. Lot
1966
Year Built
14
Days on Site
DESU2037574
MLS
Waterfront home located in the desirable Cape Windsor Community. Easy boat access to Ocean City and a minutes drive to the beach. This 3 bedroom home with newer windows and roof has lots of potential....
Beach Bound Realty, Llc
272 Hopewell Dr Clayton, DE 19938
$498,000
Neighborhood: Forest Gate
272 Hopewell Dr
Clayton, DE 19938
3
Beds
2
Baths
924
Sq.Ft.
2003
Year Built
280
Days on Site
DEKT2011548
MLS
Quiet country living on 6 acres w/ large two-story home and rental property w/ long term tenant already in place. Seller would like to sell both properties together. The main house offers 4...
RE/MAX Eagle Realty
8769 Greenwood Rd Greenwood, DE 19950
$465,000
 
8769 Greenwood Rd
Greenwood, DE 19950
4
Beds
2
Baths
825,462
Sq.Ft. Lot
2007
Year Built
15
Days on Site
DESU2037434
MLS
WOW. Properties like this are getting increasingly difficult to find in sussex county. This 2,128 sq/ft Class C home is meticulously maintained and newly renovated. It sits on almost 19 acres and is...
Keller Williams Realty
22136 Vaughn Rd Georgetown, DE 19947
$400,000
 
22136 Vaughn Rd
Georgetown, DE 19947
4
Beds
2
Baths
2,325
Sq.Ft.
1986
Year Built
138
Days on Site
DESU2031954
MLS
This well-built manufactured home has been almost completely remodeled inside and out! Recent updates include newer roof, new vinyl siding, new Pella windows, new front porch, new doors, new...
Exp Realty, Llc
34641 Lagoona Dr Frankford, DE 19945
$389,900
Neighborhood: Millers Creek Park
34641 Lagoona Dr
Frankford, DE 19945
2
Beds
2
Baths
1,160
Sq.Ft.
1986
Year Built
21
Days on Site
DESU2036970
MLS
Multiple opportunities with this 100'x100' waterfront lot. This lot comes with an existing 1160 sq ft 2 bedroom 2 full bathroom mobile home that with a little sprucing up could be perfect! If you...
Whitney-Wallace Commercial Real Estate Services, Llc
7239 Park Brown Rd Harrington, DE 19952
$385,000
 
7239 Park Brown Rd
Harrington, DE 19952
3
Beds
2
Baths
1,620
Sq.Ft.
2018
Year Built
373
Days on Site
DEKT2008784
MLS
Countryside retreat!! Beautiful 3-bedroom, 2 full bath, split floor plan ranch home on 2.99 acres is in immaculate condition! Home was placed on permanent foundation in 2018, title is retired, with...
Patterson-Schwartz-Dover
2114 Seven Hickories Rd Dover, DE 19904
$385,000
 
2114 Seven Hickories Rd
Dover, DE 19904
3
Beds
2
Baths
1,776
Sq.Ft.
1988
Year Built
55
Days on Site
DEKT2016896
MLS
This property at Seven Hickories is a great option for those looking for a spacious home surrounded by beautiful natural views. The lot features a long driveway, a 4-bay shop, and two separate...
Bryan Realty Group
2328 Longridge Rd Clayton, DE 19938
$385,000
 
2328 Longridge Rd
Clayton, DE 19938
5
Beds
3
Baths
2,256
Sq.Ft.
1991
Year Built
37
Days on Site
DEKT2017330
MLS
This home has everything you have been looking for! This 5 bedroom 3 bath home gives you all the room you need. With 2 large living spaces. One featuring a stone woodburning fireplace. Inside you...
The Moving Experience Delaware Inc
8484 N Old State Rd Lincoln, DE 19960
$365,200
Neighborhood: Cedar Creek
8484 N Old State Rd
Lincoln, DE 19960
4
Beds
2
Baths
32,234
Sq.Ft. Lot
2021
Year Built
3
Days on Site
DESU2037986
MLS
Welcome to 8484 N Old State Rd in Lincoln, Delaware. Less than 20 minutes to the closest beaches (Slaughter Beach, Fowler Beach and Primehook Beach) and roughly about a 30 minute ride to Lewes and...
Linda Vista Real Estate
34644 Nottingham Way Frankford, DE 19945
$365,000
Neighborhood: Sherwood Acres
34644 Nottingham Way
Frankford, DE 19945
3
Beds
2
Baths
1,216
Sq.Ft.
2020
Year Built
154
Days on Site
DESU2031248
MLS
New in 2020, this beautiful 3 bedroom, 2 bath home is now available! Well-appointed and being sold Fully Furnished, it features an open floor plan with large, bright modern well-equipped kitchen....
Long & Foster Real Estate, Inc.