Are you considering buying a manufactured home but unsure whether or not it’s a good investment? Do manufactured homes appreciate in value? Do manufactured homes depreciate in value?

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Do manufactured homes appreciate in value

In my experience, manufactured homes do appreciate in value but not at the rate that conventional single family homes or condos appreciate. In some cases, mobile homes can depreciate in value, the same way cars lose value.

I believe that the location of the manufactured home plays a big part in how the home appreciates or depreciates in the future.

Do manufactured homes depreciate in value

Manufactured homes are more likely to depreciate over time than traditional single family homes or condos. Most manufactured homes in Southern California are not considered real property because the owner of the mobile home doesn’t own the land that the home sits on.

What is the difference between a mobile home and a manufactured home?

Traditionally speaking, mobile homes are properties that were built prior to 1976 and manufactured homes refer to properties that were built after 1976 per HUD.

Do manufactured homes last long?

The normal life expectancy of a manufactured home is somewhere between 3550 years depending on the routine maintenance that is performed to get the mobile home in good shape.

Pros of buying a manufactured home

1. More Space for less money compared to stick built homes
2. Likely more outdoor space than a condo
3. You may have access to mobile home park amenities like a swimming pool or spa
4. Property taxes are lower on a mobile home because it's considered personal property versus a traditional house)
5. You can likely move it in the future if you had to.

Cons of buying a manufactured home

1. You pay a monthly rental space fee and it’s not tax deductible
2. You have to be accepted into the park through an application process
3. Most mobile homes don’t have garages, only carports
4. Mobile homes don’t’ apprecaite in value like a single family home or condo
5. Mobile home financing can be more difficult than traditional financing as there are less lenders out there lending on manufactured homes and usually require more down payment than conventional financing.

If you are considering buying a home or selling a manufactured home and have questions about buying a home or selling a home, please comment below or contact me directly.

Thank you for watching my housing market predictions.

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B L O G ➳ http://www.jebsmith.net/blog
F A C E B O O K ➳   / cbhbrealtor  
I N S T A G R A M ➳   / jebsmith  

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