Purchase Programs
The following is a brief explanation of the "early purchase" program available at Southport Springs.
INVESTMENT PROGRAM
This program allows you to purchase and close on your new home and, simultaneously, to place it in either our leaseback or rental program.
A. LEASEBACK PROGRAM
This program allows you to lease your home to us for use as
either a model or a Guest House. While you receive the tax
benefits such as depreciation, deduction of mortgage interest,
deduction of travel expenses to check on the home and other
similar "write-offs," we assume responsibility for
the lot rent, lawn care, utilities and other ongoing expenses
related to the community and home.
RENTAL PROGRAM
You would either personally procure a tenant to rent your
new home or allow us to do so under our rental management
program. Many of the same tax benefits available under the
Leaseback Program are also available under this program. Although
your expenses would be slightly higher under this program,
a much higher income more than offsets same. While each case
differs, the typical seasonal income ranges between $5,000
and $7,000.
DELAYED CLOSING PROGRAM
For a small deposit, select the lot and freeze the price of the new home of your choice for a specified period of time. Many of our customers purchase their retirement vacation homes up to three years prior to actual "move-in," thereby saving thousands of dollars. Additionally, they limit their expenses by utilizing one or a combination of the aforementioned programs.
EXAMPLE: Purchase and close on the home after a six-month delayed closing; lease the home back to us for one year as a model or Guest House; then utilize the rental program for one year.
In this example you would have enjoyed an excellent lot selection, purchased the home of your choice at substantial savings, stretched your dollars and timing for 2 1/2 years, received substantial tax benefits, and significantly reduced the overall cost of your retirement residence.
The examples and programs mentioned are merely illustrative of numerous options available to those seeking assistance in realizing their retirement dreams. We look forward to assisting you in your pursuit of the retirement lifestyle of your life at Southport Springs—the most affordable active lifestyle community in Florida.