Wouldn’t it be terrific if you didn’t have to pay closing costs the next time you purchased a home? And how great would it be if you didn’t have to pay property taxes on that home or if you could close in about a week? Would you want to move to such a place, or at least know more?
Desert Braemar, in Rancho Mirage, is just such a place. They look like condos, but they’re not. They’re Stock Co-Op Units. So what’s a stock Co-Op Unit? They’re one bedroom (known as a dollhouse), two bedroom or three bedroom units, upstairs or downstairs, or both (like a two story townhome). You pay cash for your unit and then the co-op leases it back to you for 99 years. Your lease amount is based on the square footage, and other factors, unique to your unit. As an example, your unit lease might be $600 a month. The best part is that this includes your property taxes and maintenance. It’s more like buying stock in a real estate company than buying a home, but you get to live in this stock. If this is a second or vacation home for you, you may even want to get the most from your investment by renting it out. If so, the on-site leasing office can help you with that, as well.
If living in this unique 55-plus community sounds appealing to you, please call me. I’d love to show you any of the current available listings, starting at under $100,000s.