The Landings At Manahawkin’s New Lease-To-Own Program Makes Homeownership Affordable
MANAHAWKIN, N.J., Sept. 17, 2009 – The Landings at Manahawkin, a seaside community in Stafford Township, N.J., has introduced a customized lease-to-own program for newly built townhomes and condominiums slated for occupancy within the next 90 days, announced Debbie Bertino, vice president of sales and marketing of P&F Management Company, LLC, the developer. Currently, 18 residences are included in this program, which is being offered for a limited time.
“Now that the summer season has come to its unofficial close, many people are considering the purchase of a low-maintenance, newly constructed, affordable home at the Jersey Shore for year-round living or vacation purposes during the spring, summer and fall seasons,” said Bertino. “As a result of what we are hearing, and demand within the Ocean County market for rent-to-own options, The Landings created this unique program to offer prospective homebuyers an opportunity to rent, with up to 50 percent of the rent being earmarked for the home’s down payment.”
The community’s townhomes offer three-bedroom, two-and-a-half bath layouts of up to 2,800 square feet, while the two-bedroom, two-bath condominiums provide more than 2,800 square feet of living space. Single-level condominiums also feature finished basements, and all residences offer a one-car attached garage. In addition to high-end finishes and gourmet kitchens, the community offers spectacular views of the surrounding area and an array of lifestyle amenities. Five professionally decorated models are now available to preview.
The Landings is set across the bay from Long Beach Island, just a few minutes from Garden State Parkway Exit 63 via Route 72. Rents start at $1,700 per month, and home prices start in the low $200,000 for the luxury condominiums and townhomes.
In addition to these attractive price-points, first-time homebuyers who close on the purchase of a primary residence by December 1, 2009, also may be eligible for an $8,000 federal tax credit. The Landings now offers free, no-obligation consultations with a mortgage consultant to help prospective homebuyers evaluate their rental and mortgage options.
“Buying a home may not be possible right now because of different personal reasons or circumstances, ranging from credit issues to a recent divorce,” explained Bertino. “Because condominiums and townhomes are less likely than single-family homes to depreciate in the current economy, the time is right to plan for buying by laying the proper groundwork.”
Development of The Landings at Manahawkin is being spearheaded by P&F’s subsidiary, Maplewood Homebuilders. P&F is a multi-faceted real estate investment company specializing in the acquisition, repositioning and redevelopment of underutilized real estate assets and portfolios. For more information about The Landings at Manahawkin, please visit The Information and Marketing Center, located at 1 Bryce Lane, or call (609) 489-0300.
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