I was in the same boat until I did research. I found that manyRealtors want to List your property at YOUR expense / loss in the hopes that someone else will sell it for them. Most all the Realtors I have dealt with would tell me oh yea, everthing appreciates!
I found a FALSE realization used are Comps. When looking at affordable mobile homes, most all Realtors I have found lump in trailer houses with $400,000 custom homes in order to get the "market value" up in any given areas. I found out that a trailer house (mobile home, manufactured home, whatever) is all one in the same. They are mass produced in factories then hauled to lots or a new customer's site. Most all are made with lesser quality building materials (but so are some expensive homes I have inspected), and most all of those l that I know of, contain plastic water plumbing where most custom homes do not. Therefore, in my opinion, comparing trailer homes to custom homes for comps is nothing but a "make you feel good" false realization.
At the end of the day, mobile homes DO depreciate and do not appreciate. Only the land MIGHT appreciate, but it depends on surrounding properties and our mobile home's condition. Test of truth.... Ask a Realtor to put in writing that a mobile home WILL appreciate or you get your money back. Watch the fancy footwork that follows. All of a sudden, even they won't guarantee custom homes will appreciate. A complete different story we are fed when first looking at either a mobile or custom home. What ever happened to Truth in Advertising?
Also consider that during a severe storm warning, in a regular home, you are told to go the center of your home for safety. In a mobile home you are told to "GET OUT". Guess it might boil down to how much you value you and your family's lives. Remember, a lot of damaging storms come in the middle of the night when many are fast asleep.......
Good luck in your search, but if I were to choose, I would first pick a good neighborhood or rural community and strongly consider having a "real" home built. Why buy a mobile home if it comes with almost the same monthly payments as a custom home??????????
Double wides are very attractive now a days and very comfortable and conveniently built with open spaces and great bathrooms and walk in closests, great kitchens etc. So if you want a nice place to live and can't afford something that nice in a stick built, buy it and live in it, but do NOT expect it to appreciate, even on land. It will be a very difficult resell in 10 years. They are not required to be built to BOCA code, therefore people can only expect that they are not, even if you do buy it with upgrades and drywall etc. If you want a offsite manufactured home that is a much better resell, buy a MODULAR built to boca code.
Please don't get down on all Realtors just because you deal with one that is either uninformed or being greedy, the majority of us out there are killing ourselves to provide excellent service and knowledge base in this tough market. A knowledgable Realtor does much more than unlock the door so you can view homes. The majority of us provide a service much worth our commission and more....and make sure your agent is a "Realtor" a licensed member of our local, state and national association of Realtors!!!
I'd save my money and either look elsewhere for a site or forget mobile homes entirely and look for an existing home. You may also wish to consider a modular which is totally different from mobile home and these do not depreciate as mobile homes do, they maintain their values are directly tied to the market, while mobile homes are more like cars, they depreciate the moment you buy them in nearly every instance.
I bought a brand new 28 x 80 double wide and put it on a full basement with 2 garage doors in the end and a wall across the basement to create the garage. I put it in an area that wasn't the best location. With the ground, basement, septic tank, and county water, I had $114,000.00 invested.
After it was ready to move in, the bank appraised the whole thing for only $90,000.00. So would it be a bad investment? I would say yes if you plan on reselling it. I would say no if you make it your own last home.
Hi, go to this sight and look for your home...you can often find a nice double wide for half of the price you quoted....I know because I buy homes that are in kansas and put them on my development...
any questions feel free to email me at
New manufactured doublewide homes are not for real estate speculators. They are for people who want a nice place to live and don't want to have to pay for a custom built home or live in old housing built 30+ years ago.
If you don't plan on living in it, don't buy it.
I think you should also look at the trends of the street/neighborhood. Does it appear to be going down hill or cleaning up and upgrading? Your area will affect your appreciation/depreciation potential as much as the type of home you live. Remember the three Ls - Location, Location, Location.