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LEASE or Buy?

Island in the Sun Realty offers two options for joining many of our communities.

1. Leasing:

You'll save money instead of tying up your funds in land ownership; your assets will be more liquid and can then be put to a more profitable use. Use your savings to offset living expenses. Go on a vacation! Invest your capital for higher rates of return. By comparison, if you purchased land and needed money later, you would need to borrow against an uncertain equity which could create debt.

You are protected against sudden increases in fees.
Paradise Island have lease agreements which are controlled by the home owner's Co-op. Included in your lease amount are several fees you would pay extra for in a subdivision (depending on the community). Such essential services as water, sewer, trash pickup, lawn mowing, common area maintenance and more are often included in one monthly payment.

You have increased resale opportunities with a home on leased land. Homes on leased park land are lower in price. Obviously, a home with a lower price can appeal to a larger audience. This competitive advantage may be important to you if you foresee a possibility of moving. In comparison, the purchase price of the same home on a Coop share lot will cost more because the price of the land must be added. With no real estate changing hands, the sales process is simpler, and much less expensive to negotiate.

The parks we serve have a vested interest in seeing that this community is filled with friendly new neighbors not only today, but tomorrow as well. Outstanding maintenance teams help attract your new neighbors so that your community remains viable throughout your residency. This continued commitment means when you choose Paradise Island and other parks from Island in the Sun Realty, these benefits make a more desirable place to live and create a higher resale value to you.

2. Owning your own Share:

Buying into the community gives you a voice.
By purchasing a share of the community, you can be assured of the long term stability of the place where you will live. You will be joining with hundreds of others in ensuring that the direction and management of your common property will always be in the interest of property owners as determined in a democratic forum.

Freedom from worry. As the population density of Pinellas county grows, developers cast a hungry eye upon large tracts of desirable land such as our neighborhoods. By owning a share, you and your fellow homeowners will have control over the use and disposition of the land. No one will ever sell it or change it without your participation and that of your neighbors, in the decision.  

Stable Maintenance fees. No adjustments to the fee for owner-residents will ever occur without the consent of the shareholders. Such fees are always significantly lower for share lots with no rent component than leased ones.

But for both:

Your community is professionally managed.
Your life-style is protected by a professional management team, which has a long-term interest in the community. The communities we serve have professional management staffs to ensure that uniform minimum standards are met. Streets, Lighting, sewers, Pools, and community centers are all kept operating and beautiful. Amenities are cared for. Your value is protected. Your one payment a month, whether rent or maintenance, covers total upkeep of the community and includes use of all recreational facilities.

You have rules and regulations that result in a consistent, high quality of life.
When you lease the land, residents must abide by rules and regulations. Retirement living is supposed to be hassle-free and published rules can help eliminate any surprises after you move in. You can have confidence that your living situation will be at a continuing high level of quality at a price known in advance.

A Manufactured Home is one of the best Housing values available today. New construction is rigorously regulated and built to HUD codes. Two bedroom units can offer from 1000 to 1700 square feet of space. They include all the usual amenities, and are air conditioned. A recent Study by Foremost Insurance Company shows that nationally, manufactured or modular housing often appreciates at a higher rate than most site built homes.

These benefits - stability, security, professional management, enforcement of sensible regulations and confidence that neighboring homes and their owners must meet approved standards - all mean better resale value and valuable peace of mind for you no matter which mode you choose.

living in Paradise Island

For all purchase arrangements:

The cost of insurance is reasonable and approximately the same whether renting or owning.
All units require a license decal from the state costing $150 per year
Water, sewer, trash, grounds maintenance and facilities usage are included in the maintenance agreement.

  • Call 1-727-523-1810
  • E-mail us here with your inquiries.   © Island In The Sun 2003 -2021
    except in rare circumstances by government, through Eminent Domain.