Winter season is here, and your family is planning to buy a mobile home in the Sarasota Florida area. You find several beautiful homes online and decide to visit them in person. Before making the move, it’s important to understand the type of land ownership where the mobile home sits.
When buying a mobile home in Sarasota, the type of park matters. Mobile home parks fall into two categories:
- Land-Owned Mobile Home Parks
- Land-Leased Mobile Home Parks
Land-Owned Mobile Home Parks in Brief
Land-Owned Mobile Home Parks, also known as Resident-Owned Parks, allow residents to share ownership of the entire community. While you do not own the specific plot your home sits on, your ownership resembles a stockholder’s interest in the park. Monthly fees are typically lower—around half of what land-leased homes pay.
These cooperative properties are listed on the MLS, which provides exposure whether you are buying or selling. Residents pay real estate taxes, which are generally modest due to the lower purchase price. Florida residents can also apply homestead exemptions and other qualifying reductions for disabilities and more.
Understanding Park Shares
When buying in a land-owned park, you purchase both the home and a share of the park. This share functions like a stock certificate, granting you partial ownership and voting rights on community rules and regulations.
Currently, the average price of a stock certificate is around $50,000. Therefore, the total purchase price includes both the home and the stock, which is an important consideration for budgeting.
Costs and Benefits
The main advantage of a land-owned park is lower lot rent. For example, in Sarasota County, a land-leased lot might cost $750 per month, while a land-owned lot costs roughly $250. However, additional fees for lawn care, water, and sewer may bring total monthly costs closer to $400. This results in annual savings of about $4,000, meaning it could take approximately 13 years to break even on the stock purchase.
If you plan to stay long-term and can afford the initial investment, a land-owned park may be a solid choice. Alternatively, choosing a park with amenities included in monthly fees could be more practical.
Professional Guidance
The Mobile Home Dealer is a licensed brokerage in Sarasota, Florida, and surrounding areas. We assist clients with buying and selling mobile homes professionally. For questions, contact us via this link or message us on our Facebook Page.
This is Mark Kaiser with The Mobile Home Dealer, helping mobile home buyers and sellers get to a better place in life.
See Also:
- Is It Possible To Finance A Sarasota Florida Mobile Home?
- When Is The Best Time To Buy A Sarasota Florida Mobile Home?
- What Is Expected To Happen To Sarasota Florida Mobile Home Lot Rents In 2025?
- Can a Buyer Cancel A Mobile Home Purchase Agreement in Sarasota Florida?
- 3 Things You Need To Look At When Inspecting A Sarasota Florida Mobile Home Roof!
My parents owned a mobile home and shares in their park in North Port. They passed away this year but before my dad died my sister transferred the title into her name. How do we get the shares transferred as well?
This article provided great insights into land owned mobile home parks in Sarasota! I appreciate the detailed info on the benefits and community aspects. It really helps in understanding the living options available in the area. Keep up the good work!
Thanks for the positive comment and happy to hear you are finding value in our content!
This post provided such valuable insights into land-owned mobile home parks in Sarasota! I had no idea there were so many benefits to this type of ownership. It really changes the perspective on affordable housing options in the area. Thanks for sharing!
Happy you found value in the blog post, thanks for checking out The Mobile Home Dealer!
This post provided such valuable insight into land owned mobile home parks in Sarasota! I had no idea there were so many benefits to living in these communities. It’s great to know about the affordability and sense of community they offer. Thanks for sharing this information!
Thanks for connecting with The Mobile Home Dealer Raja, happy to hear you found value out of this post!
This was a really informative post! I had no idea about the differences between land-owned and rental mobile home parks. I’m considering moving to Sarasota and your insights on the benefits of land-owned parks have helped me weigh my options. Thanks for sharing this valuable information!
Thanks for the positive comment Daman, happy to hear you found value in this article!