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 October 2, 2023
40
Listed
78
Avg. DOM
$206.43
Avg. $ / Sq.Ft.
$259,900
Med. List Price
Refine Results
40 Properties
Page 1 of 4
37059 Mallard Dr Selbyville, DE 19975
$579,000
Neighborhood: Swann Keys
37059 Mallard Dr
Selbyville, DE 19975
3
Beds
2
Baths
1,512
Sq.Ft.
2007
Year Built
18
Days on Site
DESU2047832
MLS
Looking for a waterfront beach house to leave your boat, beach chairs and flip flops ? This little gem is waiting for you to enjoy time with family and enjoy the bay lifestyle. 3 bedroom, 2 bathrooms...
Long & Foster Real Estate, Inc.
178 N Flack Ave Frederica, DE 19946
$499,900
Neighborhood: Bowers Beach
178 N Flack Ave
Frederica, DE 19946
4
Beds
3F11/2
Baths
2,050
Sq.Ft.
2006
Year Built
8
Days on Site
DEKT2022934
MLS
Beautiful water views! 178 N Flack Avenue in Bowers Beach/Frederica, is surrounded by natural beauty, and wildlife. 4 bedroom, 3-and-a-half-bathroom home with water views from almost every room....
Compass
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
215
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
36984 Blue Teal Rd Selbyville, DE 19975
$389,000
Neighborhood: Swann Keys
36984 Blue Teal Rd
Selbyville, DE 19975
2
Beds
1F11/2
Baths
900
Sq.Ft.
1979
Year Built
20
Days on Site
DESU2048026
MLS
Welcome to your waterfront oasis! This stunning 2-bedroom, 1.5-bath home is a boater's dream, nestled on a serene canal with direct boat access and boasting the perfect deck for savoring summer crabs...
Keller Williams Realty
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
567
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
32062 Molly Field Rd Dagsboro, DE 19939
$360,000
Neighborhood: Dagsboro
32062 Molly Field Rd
Dagsboro, DE 19939
4
Beds
2
Baths
1,816
Sq.Ft.
1997
Year Built
52
Days on Site
DESU2045804
MLS
Triple wide Class C Mobile home on its own 1.5 Acres of land in a quiet county setting. NO LOT RENT. New Septic 2021, New Roof 2021, New Ac 2022, Whole house water treatment 2020, New electric...
Coldwell Banker Premier - Lewes
28028 Fieldwood Dr Georgetown, DE 19947
$339,900
Neighborhood: Fieldwood Farms
28028 Fieldwood Dr
Georgetown, DE 19947
3
Beds
2
Baths
1,456
Sq.Ft.
1999
Year Built
12
Days on Site
DESU2048530
MLS
Welcome home to Fieldwood Farms! This well-maintained residence offers single-story living with three bedrooms and two bathrooms, all set on a spacious 1.19-acre lot at the end of a peaceful...
RE/MAX Advantage Realty
32802 Circle Dr Millsboro, DE 19966
$325,000
Neighborhood: Orchard Manor
32802 Circle Dr
Millsboro, DE 19966
5
Beds
3
Baths
1,456
Sq.Ft.
1985
Year Built
9
Days on Site
DESU2048750
MLS
Situated on a beautiful piece of property approximately .24 acre +- lot and home is a 5 Bedroom - 3 Bath must see manufactured home. The property and home has so much potential. This home is...
A C Emsley & Associates Realtors
149 W Lake Dr Milton, DE 19968
$307,000
Neighborhood: Lazy Lake
149 W Lake Dr
Milton, DE 19968
3
Beds
2
Baths
10,890
Sq.Ft. Lot
2023
Year Built
166
Days on Site
DESU2039928
MLS
No description available...
Mann & Sons, Inc.
1 Marina Park Dr Frankford, DE 19945
$299,900
Neighborhood: Plantation Park Marina
1 Marina Park Dr
Frankford, DE 19945
3
Beds
2
Baths
1,456
Sq.Ft.
1998
Year Built
12
Days on Site
DESU2047874
MLS
Soon to be classified as a Class C home. Located in a waterfront community with a boat ramp. This spacious home on a corner lot offers a living room with vaulted ceilings, a large kitchen and dining...
Vickie York At The Beach Realty
32193 River Rd Millsboro, DE 19966
$295,000
 
32193 River Rd
Millsboro, DE 19966
3
Beds
1
Baths
6,534
Sq.Ft. Lot
1968
Year Built
202
Days on Site
DESU2037764
MLS
Rare opportunity to own land on River Road with unobstructed million dollar views of the Indian River Bay and Wetlands. No lot rent and no HOA. Compare to area waterfront properties leasing land for...
Jack Lingo Millsboro
31 Sawgrass Rd Milton, DE 19968
$285,000
Neighborhood: Hunters Mill Estates
31 Sawgrass Rd
Milton, DE 19968
3
Beds
2
Baths
1,456
Sq.Ft.
1991
Year Built
245
Days on Site
DESU2035198
MLS
This home is back on the market after previously being under contract! This 3 bedroom, 2 bathroom home is nestled on a large private lot in a quiet neighborhood, just off of Rt. 9, for easy access to...
Keller Williams Realty