We would buy almost anything if the numbers are right, and a land lease changes what right looks like. The key constraint is financing. Lenders generally want the ground lease to run at least five years beyond the end of your loan term. With 38 years left you could still get a 30-year loan today, but the math tightens as the clock ticks: in five years a buyer might only qualify for roughly a 28-year loan, and in ten years roughly a 23-year loan. Shorter available financing means a smaller buyer pool and downward pressure on value. A leased-land property should sell at a real discount to a comparable fee-simple home, and you want to be paid for taking on that shrinking runway. One nuance: some leased-land communities eventually convert to fee simple, and in at least one Huntington Beach community that converted, pricing barely moved, because buyers were already comparing against other homes inside that same leased-land community. So the answer depends on the lease terms, the discount you are getting, and which comparable sales the market uses to value the property. Run the long-term financing and resale picture, not just today's cash flow, before you commit.