Land lease is 1/10 of 1% of purchase price per month....until you sell.
Current Land lease is $460. per month.
the home is active at 375,900
I would really dislike paying a land lease, however great neighborhood. Have to give credit for the guy who came up with the idea of land leases.
As far as a central source in Scottsdale that identifies leased land locations. I don`t know of any, just the community's.
I will put them together, it will make a useful blog.
Thanks for your question
First, the home on Becker is on leased land and the lease payment monthly is $460.00.
Scottsdale is full of areas with leased land payments and the best way to find one without is to search for homes that do not include leased land payments. the downfall of curse it that you are paying for location and nothing else.
There are also other fees involved in searching for this type of property and that includes PAD or "Planned Area Development" fees along with HOA fees.
Between all 3 I have see monthly expenses worthy or a portion of a house payment.
These homes are very difficult to sell with all the fees added on unless you are practically giving it away or your location is so exclusive that someone of affluence is willing to look past to the fee just for having that perfect location.
If you are working with a realtor, have them setup a search for you for homes that don't include that land lease fee if you desire.
If you are not already working with a realtor I would be quite happy to provide that search for you.
All The Best,
20008-20009 Master of Real estate Award
GRI, ABR, E Pro, CNE, MRE, WHWD
Scottsdale and North Phoenix area specialist