Photo: haven't the slightestDid you know you could buy property without owning the land it sits on?
You're familiar with mobile homes, right? They're the most well-known example of a home you can own while paying a monthly fee to rent the ground it sits on.
But you can do the same thing with an actual house, or even a condo. You’ll find different types of leased land properties in different parts of the country. Some leased land communities are retirement or vacation home communities.
How can you identify these properties, which are often disguised in real estate listings?
-The property might have a regular street address but also have a lot number.
-The home might be priced far below similar homes in the area, or be far nicer but priced like an average home.
-The price might be a dream come true given the location, like waterfront property for the price of an inland property.
-The listing might describe the home as being in a planned development or master planned community (though traditional homes can also fit this description).
Sometimes, it may simply appear that the property is governed by a homeowners association (HOA) because the listing might mention the association features you’ll have access to, like a community pool and playground. However, the HOA fees will be sky-high, double or triple the standard HOA rate for your area. That's because part of the HOA fee will go toward community amenities; the rest will cover your land lease fee.
I don't think these arrangements really work out in favor of homeowners, as I discuss in my Mortgage-Calc.com article, Why you shouldn't buy a home on leased land.
There are also lifestyle issues to consider. Land lease communities, like other HOA properties, can have restrictive rules such as how long guests may stay with you or what types and sizes of pets you can own.
Indeed, leased land properties often belong to HOAs. That means you not only need to understand the details of the leased land arrangement, but you should also understand what you’re getting into when you buy a home in an HOA. Learn how they work in my articles, 9 Things You Need to Know About Homeowners Associations and What Living in a Homeowners Association Means.
Photo: Amy Fontinelle
Photo: PhotoAtelier (Glen) 
Q: I ran across your name on line. I was hoping you could help me. my son is 22. He did 2 years DOC time in Fl and is on Probation here in Raleigh, NC for three years now. He is on interstate compact probation. He has been home since May and has been perfect. As I know you hear so much he can not find a job anywhere. He is a hard worker and has worked as a commercial fisherman and my ex-husband had a tire and wheel shop that Josh, my son, worked at from 10-16. He was employed with a hardscaping contractor for the last six months and they were paying him 7.50 dollars to dig trenches and build patios and pools and fire pits and sort. The hours were by the weather and sometimes he only got 8 hours a week. Jay would work 60 if he could get the hours. His boss laid everyone off and is going under due to economy and so now Jay is completely unemployed again. Can you help me by telling me anywhere that might hire him in Raleigh? He does have a reliable vehicle and a current drivers license.
I'm sorry your son is having so much trouble. There is a concern I have. You say he gets an interview but is turned away when the background issue comes up. Is it possible he is not being totally honest when filling out the application. If he answers the questions honestly, there are no surprises when background checks are done. I encourage a every felon and ex-offender I work with to always be honest in all phases of the job search process. Never volunteer information but if the question comes up on either on an application or interview, always answer honestly. I know of too many people who have been less than honest when completing applications and gotten hired, only to be fired when background checks were done. They were not fired for having criminal backgrounds, they were fired for falsifying the application.