My daughter is considering the purchase of one and I'm wondering if, like a home, one can build equity over time or does it simply depreciate like a car?
2006-10-26 07:40:25 · 12 answers · asked by mailman 1 in Business & Finance ➔ Renting & Real Estate
depreciates.
2006-10-26 07:41:52 · answer #1 · answered by 2ndammendmentsupporter 3 · 0⤊ 0⤋
It really depends on the local market. My parents bought me a trailer when I went to college in a college-student only park.. and paid 23k for it. After 5 years, they sold it for almost 19. This was in Alabama though. The best way to tell how prices are doing in that area, is to see how the prices have done for other mobile homes. It's not the mobile home that's going to depreciate.. it's the space.. and in California that may or may not happen. It's a very unique situation. Mobile homes cost very, very little. What you're going to be buying, is space for housing and my understanding is that you won't even own the land. So ultimately the mobile home doesn't matter in this equation, it's how the space you're going to be sitting on appreciates or depreciates. Food for thought.
2016-05-21 22:41:09 · answer #2 · answered by Anonymous · 0⤊ 0⤋
From what I understand they depreciate. If is was on a privately owned piece of land (not a rented lot) I would think the land would appreciate in value like any real estate but not the mobile home.
2006-10-26 07:43:21 · answer #3 · answered by J D 5 · 0⤊ 0⤋
They depreciate like cars, I'm afraid. There may be some skewing of sales price based on how desireable the community is that the trailer is located in, so the same trailer selling in a great park with lots of facilities will likely sell for more than one in a very marginal trailer park, but over time, each will go down.
2006-10-26 07:43:41 · answer #4 · answered by wynterwood 3 · 0⤊ 0⤋
The home depreciates, but the land can appreciate.
2006-10-26 08:16:25 · answer #5 · answered by Phoenix, Wise Guru 7 · 0⤊ 0⤋
as soon as the mobile home is pulled off the lot it starts depreciating.
2006-10-26 07:48:45 · answer #6 · answered by Angel L 1 · 0⤊ 0⤋
They depreciate, until they are blown away in a hurricane.
2006-10-26 07:43:02 · answer #7 · answered by jim 6 · 0⤊ 0⤋
A mobile home go's down in value as soon as you pull it of the lot, and it never goes up only drops. )O(
2006-10-26 07:45:43 · answer #8 · answered by Witchy Woman 4 · 0⤊ 0⤋
If it's on land the land will appreciate. Suggest to her to buy the property as opposed to leasing it. You may as well just rent the whole thing.
2006-10-27 05:49:38 · answer #9 · answered by Anonymous · 0⤊ 0⤋
mostly depreciate
2006-10-26 07:41:55 · answer #10 · answered by sploosh 2 · 0⤊ 0⤋