(NC) A real estate trend emerging from the pandemic is that more city-dwellers are fleeing to rural areas and smaller urban centres. With many of us working from home and higher infection rates in urban areas, there are many reasons to consider a move. One creative way to do this is with land lease; a model of home ownership where you own the home without having to buy the land.
If ditching the hustle and bustle of the city sounds attractive to you, here are some reasons to consider a land lease:
The land lease model costs about 30 per cent less than purchasing a traditional freehold and allows you to maintain and build equity while freeing up money for life’s other priorities. This makes it much easier for first-time buyers to enter the market and for retirees to downsize while still maintaining equity
Services and amenities
Families with children of all ages will appreciate different neighbourhood-building amenities, such as community centres, playgrounds and fitness centres. For retirees, exterior maintenance services, walking and biking trails, and social clubs and activities help them to stay active and independent much longer.
Living outside a dense city means you have quick and easy access to nature through more private outdoor space at your own home as well as shared outside spaces in your community.