2022 Florida Manufactured Homes! 55+ Resort Retirement on a Small Monthly Budget. Spanish Lakes 

Jeff, so sorry you had a bad experience during your visit. You were working with the Wynne Company. It sounds to me as if you were considering a concrete block home rather than a manufactured home? Wynne is basically out of the manufactured home sales business. They may have 1 or 2 manufactured homes to sell now and then, but their emphasis is now mainly pushing those Concrete block homes. I work for Four Star Homes. Four Star is not affiliated with Wynne and we specialize only in the resale of manufactured homes throughout the state of Florida. Yes, not only do Lily and I sell manufactured homes, but we live here in Spanish Lakes, too. Purchasing a manufactured home here in Florida is very easy, much, much easier, cheaper, and faster than trying to purchase real estate (Concrete block homes are considered real estate).

@@RoyandLily Yes, we looked at CBS homes. Though we also looked at manufactured and trailer homes. Again, the lot rent or land lease rent was way too high. I don't know why you included -150 for HOA fees when your land lease or lot rent is the same thing as an HOA fee. It's just a play on words. You also didn't include in your video that the owners of Spanish Lakes up the lot rent by 3.5% - 7.5% annually per the CPI. I saw manufactured and trailer homes in Barefoot Bay going for $200,000 with a lot rent/ HOA of 60/Month. That same home in Spanish Lakes in being sold for $25,000 - $40,000 because the lot rent is so high and keeps going up. I talked too many people in the Spanish Lakes community and most had the same view of the lot rent that I do. The lot rent is a guarantee that you'll lose money when trying to sell in the future.

Yup ... Poke it to ya on the land lease!

Hi there, can't find out if Spanish Lakes is gated; did you notice if there was a gate?

@@helenabrus191 it is not a gated community. They do have there own “Civilian patrol car” that patrols the park.

Thanks for that raving review of The Villages. For anybody that doesn't know, The Villages is probably one of the most famous and more exclusive retirement communities in the state. Personally, I've never been there. However, I have learned a lot about The Villages from a couple by the name of Dave and Linda. They live there and have a series of videos about living in the Villages. The Villages will require a higher monthly outlay than what I illustrated in the video. If you have the extra income and are looking for the best-of-the-best, The Villages may be worth looking into. You can find Dave and Linda's video series at ru-vid.com

Welcome aboard! Russ does lead the way with some really great information.

Glad it was helpful!

Thank you for the input!

Hi Keith, and yea, all good points. I take a lot of flack from individuals because we don't post lot rents on major websites when in fact, we do. The problem is either some websites don't have an area to post them or they make it difficult to find. Zillow is one of the biggest websites used, and they are one of the biggest culprits. Zillow DOES post lot rents, just good luck finding it. You need to scroll down, down, down to "Facts and Features". Look all the way down that list to "See More Facts and Features". If you click on that, and the lot rent appears. Who knows that??? There is nothing wrong with using the major websites. However, Four Star Homes is the largest reseller of manufactured homes in Florida, and we have our own website at WWW.FourStarHomes.com. When you click on a listing, a panel appears to the right showing the lot rent as well as facts and features of that particular park. Also, if there is a video associated to that home (as in my case), there is a big, red button that says "Home Tour" right under the pictures. (www.fourstarhomes.com/agents/listings/1907) On the upper right hand corner is a link marked in red "Print Flyer". If you click on that, you'll get even a more detailed list (including lot rent) for that particular home. And, you can save that to your computer or even print it out if you wish. I'm not touting or endorsing our website just because I work for the company. But because all we deal in are pre-owned manufactured homes, our website is geared for that only.

What is the name of you community?

More info please.

J. Clark -- Yeah ... What is the name of the community you speak of please? I'm ready to buy in a couple of weeks.

I had a home on my own 1/2 acre lot in Plantation Forest in Tallahassee; no amenities but I didn't need them; we had our own water. The homes value has risen and it would be out of reach if I were to move back there; it was lovely because of all the woods.

Hi Sassy. Finding a Manufactured home here with a garage is going to very difficult. Almost all come carports only. However, a workshop should not be too difficult. Since many will come with enclosed Florida Rooms, they can easily be converted to a workshop. When I purchased my home here, a Florida Room was a must. I converted it into a clock shop. Using our website at WWW.FourStarHomes.com will help you narrow your search. Best of luck on your hunt.

Joseph, typically you just pay for the manufactured home upfront. 96% of the transactions I make are cash deals. However, financing is available and I do have several sources available. If you pay for the house upfront, then all you really have is just the monthly expenses that we talked about in the video. Nearly all the homes I list will come out to a monthly budget of $1200 or less. This would include lot rent + electric + water/sewer + cable + insurance if you wish to carry it (not mandatory unless you are financing part of your purchase). If you feel that you need to take a loan out to help purchase a home, contact me at RoyM@FourStarHomes.com. I can send you a list of lenders.

(Go Browns!) All good points! Good luck finding an apartment around here at any reasonable cost. 500 Sq./Ft efficiencies start at $1200 and go up from there. Most apartments in any decent area have waiting lists up to 1-year. Taking into consideration what is NOT included in your lot rent (electric, cable, insurance, water, etc.) living here in Country Club runs about $1200 or less per month, ALL IN.

Dave, that's going to be difficult. Nothing around here, that's for sure. Most parks that do allow pets have weight restrictions, breed restrictions, or number of pets allowed. I'm not sure how a German Shepard fits into any of those categories. Having one would be tough enough. Having two.......?

@@RoyandLily thanks!

Richard, easier than trying to get financing on a land-lease homes, but still a hassle. A real estate mortgage is still a real estate mortgage. This is regardless if you're buying a $100,000 co-op or a $500,000 home. It's all the same hoops. See ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-bwPthxAJT6U.html. You may also want to watch ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-YzVpZ-SftX8.html

Good points, but not for everybody, especially seniors retiring on a smaller monthly income. Several things you are not considering. 1.) Real estate needs 20% down to avoid mortgage insurance. That 20% is many times the total cost of a manufactured home with no further payments due. 2.) At retirement, is carrying a new mortgage to age 75 or 85 the wisest thing to do???? The whole idea behind retirement is to be debt free. Our days of building wealth should be behind us. Now, it's time to spend and enjoy what we have. 3.) Even if you're smart and take out a 15-year mortgage, for say $250,000, you will need $50K down. However your payment will still be $1581 per month not including taxes, insurances, utilities and all the other things needed. If you plan on living in a nice neighborhood, plan on also paying some sort of HOA fee on top of that. Now you're well over $2,000 per month. I advertise living here for under $1200 per month with all of that included and practically the same money down. What is more appealing? 4.) Even if your smart and take out the mortgage I show above, you'll end up paying $84,700 in interest alone by the time the loan is paid. That's $84,000 you'll never see again not to mention all the property taxes you'll pay (figure another $30,000). If you're not so smart and take out a 30 year loan for the same amount, that number increases to $186,000 gone forever. I can't see any "Equity" advantages like you mentioned to either of those two scenarios. You will never recover taxes and interest even in a good market. Even if the market does go up, so will your taxes. It's all connected. But go back to 2008 when the real estate market here crashed. It will crash again. It's a very volatile market and retirees on a smaller income need to be more stable. 5.) You've heard the coinage "Buy low....sell high? Well, real estate here is very, very high. A very poor decision if you are concerned about equity. The stock market has tanked. If you want a chance to build equity, you need to be buying cheap stock, not real estate.

@@RoyandLily I have children that I want to leave assets to. I don’t consider a 40k trailer an asset with lot rent. I’ve never been a lease or renter type of person. I don’t mind the 20% down and would more than likely pay close to 75% down. I have worked to prepare for the move to Florida. You get what you pay for. I’m glad it works for some people, but I want 100% of my money going to my asset and not to make other people rich. I can afford my trash, water, internet and grass mowing. Not a deal breaker for me. I also like less restrictions and more control. Love the videos and I will keep watching.

My manufactured home has tripled in price since I bought it .

Laura, that's practically a myth. These homes were built in the 1980's and are still standing after several severe hurricanes. That should give you some idea of the construction. I've personally been through 2 hurricanes here. The worst I got was shingles being torn off. Under HUD requirements, these older homes are rated to 110 MPH. I believe newer homes are rated to 130 MPH. Now, if you're talking about getting hit head-on by a category 5 at 150+ MPH gusts, then I can guarantee you that NOTHING is good. It's almost like getting hit head-on by a tornado.

Granddaughter????? Lily will take that as a compliment! She's my wife! She's in her 50's!

Rodney, sorry you feel that way but I think you missed the big picture. It's not just about lot rents. This has very little to do about lot rents. It's about retiring here for under $1200/Mo. including all your rents, taxes, utilities and insurances. Pretty much everything except food. Yes, there are cheaper parks you could look into, and I have videos out about them. I think you missed the part in the video where I mentioned my lot rent? In the course of 8 years, my rent went from $588 per month to the current rate of $743. Nope not ready to "Give my place away" because it's still the cheapest way to retire here. I just read an article a few days ago that states the average apartment rental here on this part of the Treasure Coast is now $2,400 to $2600 per month. Many people I speak to tell me waiting lists are up to a year or better. Not sure where you live, but living here is not cheap especially if you are on a tight retirement budget.

Brian, I think you may have missed the point here. This is not about lot rents or HOA's. This is about how to retire to Florida on a shoe-string monthly budget of under $1,200 per month with a one-time initial outlay of $30,000 to $50,000 and absolutely no mortgage debt. So, let's compare some options: Zillow states the average price for a home in this area is $338,000. That would require $68,000 down and a 15-year mortgage of approximately $1,986/mo. Right there, that exceeds our $1200 monthly budget and our initial outlay. But, don't forget to add on property taxes, insurance, utilities and whatever HOA that community charges. Now you are going to be looking at about $2500 to $2900/mo. Not to mention, the total cost of carrying that mortgage is going to be around $358,000 or to adjust for interest, $82,000 paid away in the 15-years. Not quite the $100,000 you mentioned, but that $82,000 does not include HOA fees you paid over that 15 year period. And again, Florida is the "Land of HOA's". There is practically no escaping it. Brian, you can also consider purchasing cheaper real estate such as a townhouse or condo. But those run about $190 Sq./Ft. Since the manufactured homes here in Country Club average over 1000 Sq./Ft, you'd have to be looking at least $190,000 for a condo the same size. With the mortgage, taxes, utilities, insurance and HOA fees, you are going to be around the $2,000/mo. number with $38,000 out of pocket. Not a bad option if you can afford it. Again, I have to bring this up. Nearly every single house, townhouse, condo or apartment is going to be "Unfurnished". Most of the homes we sell here are furnished or turn-key. Unless you are bringing your own furniture, you can count on spending $12,000 to $25,000 just for basic furniture to fill a 2-bedroom home. This does not include electronics, small kitchen appliances, bed sheets, towels, etc, etc, etc. This is a major expense that many people overlook when looking for a place to live. I'm open to suggestions! If you have any better real estate ideas that fit the parameters of less than $50K down and monthly payments of less than $1200 including utilities, HOA, insurance and taxes, I'm all ears. I'd love to know and so would my viewers. Thanks, Roy and Lily

@@RoyandLily perhaps you may be able to explain this budget in it's entirety. Surely I've missed something........

Agree, total insanity. My dad just bought in a modular, over 55 community in Oviedo. Was dumbstruck that he would pay $800 more a month for lot rent and a shabby pool. SMH

@@briansanders7752 Brian, let's do what you mentioned and take a look at lot rent vs. a 250K mortgage over a 20 year period. We won't consider utilities, just payment. Manufactured Home: Lot rent $800. Total $800/Mo Mortgaged real estate: $1732 + $208 for taxes and let's say $50 for HOA. Total $1990/Mo. So right away, it will cost you about $1200 more per month, right off the bat, and that was NOT the basis of this video. Over a 20 year period: Manufactured Home: Total rent paid $192,000 Mortgaged real estate: $110,500 paid in interest + $50,000 in taxes + $12,000 HOA. Total: $172,500 So the difference works out to around $20,000 or $1,000 per year. The whole idea behind retirement is to reduce your monthly expenses due to the fact you are most likely going to be living on a smaller income. No credit card debt. No car payments. Etc. So, the big question is: AT THE AGE OF 60 OR 65, DO YOU REALLY WANT TO TAKE ON THE BURDEN OF A NEW, 20-YEAR MORTGAGE AND ALL THE EXTRA BAGGAGE THAT GOES WITH IT? Can you afford to make those extra payments until age 80 or 85? And on a more morbid outlook, will you even be alive to finish? Is that what retirement is supposed to be about??? You could eliminate the mortgage by paying $250,000 cash for the house. It's not a bad idea. But if you're moving here with like $400K in your account, that would leave you with like $150K afterwards. So, would it be better to plop $50K down for a manufactured home, make $800 payments, and still have $350K liquid in your bank account? Which is more important? Me? Personally? I like looking at my accounts and seeing bigger balances. Now, if you're coming here with like $1.5 million in your account I say "Hell! Go for it!". Pay cash for a nice $500K or $600K house, and you can still live here like a king. But unfortunately, those are not the people I deal with.

I sold my paid off home in Ohio for $160000 . I bought a manufactured home in a resort 55+ community in the middle of Covid for $22000. My taxes monthly in my Ohio home were about $300 . My lot rent for my manufactured home is $780 . But I have about $130000 sitting in a high interest account . Since I purchased my manufactured home it has more than tripled in price .