Home-buying on a leased land

Hi Lehman,

First of all let me wish you merry christmas.

If you take a home on a leased land you need to look carefully into the remaining lease term. Longer is better because with the shorter lease term it will be difficult to maintain the property and the lenders may not want to provide mortgages.

Thanks,
Jill

Hi,

If you opt to buy a home on a leased land then the acquisition will be lower because you are not paying for the underlying property.

But there are some drawbacks like, if you buy a home on a leased land you will be required to pay rent and there is every chance of rent going up. Also once the lease period is over the ownership of the property will return to actual owner of the property.

Thanks,
Jerry

looking at properety on leased land , 60 year leaese remaining and set price for rent,??????

Hi paul queroli!

Are you trying to buy a property on a leased land? It will be better if you can come up with some more details.

Thanks,

Jerry