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Land Lease Community & Sub-Division Moscow ID

Whether you should build a land lease community or a sub-division depends on several factors: your investment objectives, cash & credit resources, market conditions, target buyer demographics, etc. Read on for an in-depth answer to this question.

Re/Max Connections
(208) 883-9700
325 W Third St
Moscow, ID
Latah Realty
(208) 883-1525
128 E. 3rd St.
Moscow, ID
Moscow Realty
(208) 882-5531
201 E 3rd St
Moscow, ID

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Summit Realty
(509) 595-4355
125 SE High St
Pullman, WA
Re/Max Capital City
(208) 344-7477
1420 W Washington St
Boise, ID
Re/Max Home And Land
(509) 332-4546
710 SE Bishop Blvd
Pullman, WA
Gail Byers Real Estate
(208) 882-8070
110 E 3rd St
Moscow, ID

Data Provided by:
Team Idaho Real Estate
(208) 882-9500
204 S Main St
Moscow, ID

Data Provided by:
Coldwell Banker
(509) 332-4567
330 N Grand Ave Ste A
Pullman, WA

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Re/Max Country Real Estate Inc
(208) 234-4444
812 E Clark
Pocatello, ID
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Building a Land Lease Community vs a Sub-Division

Building a land lease community vs a sub-division
Wed 03/19/08 09:45:12 pm
by Ed Hicks

I am an experienced boulevard retailer, however due to a shortage of homesites in my market area, my sales have slowed somewhat. With an impending recession and an expected relatively high demand for affordable housing, I have decided to become a developer, but I am not sure what kind of community to build. What are the advantages and disadvantages of building a land lease community vs a sub-division? Beth T., Lima, OH

The answers depend on several factors: your investment objectives, cash & credit resources, market conditions, target buyer demographics, etc. If you have limited cash and credit, most retailers new to development will parcel off tracts of land into building lots, and sell them without improvements to buyers. Before a home is installed on a lot, however, the seller or buyer has to arrange for utilities. This usually means arranging for a well & septic tank. Finding land which has the proper zoning is usually allowed in more rural areas, and land use regulations may require relatively large lot sizes, often a 1 acre or more minimum size. By the way, offering lots for sale without improvements across state lines may be a violation of the Interstate Land Sales Act. See your attorney for relevant registration requirement. As the lots are sold off, the cash flow may be used to acquire more land, etc., sort of "bootstrapping" your way along while building up your cash reserves with each lot sale.

If you have more cash and credit, it is often best to build a small subdivision where the streets and utilities are provided to each homesite. Development costs are usually higher, and getting approvals may require zoning and site plan approvals which often involve hostile public hearings. Resulting lot sizes are usually smaller, with yields of 2.5 to 5.0 per acre depending on setbacks, street widths, etc. Advantages over the rural, large unimproved lots are: easier to sell, less rural areas, and the home/land package may be eligible for 30 year financing at site built home rates ...

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