Manufactured/mobile home: Single-wide?

Question

I currently own a mobile home in San Jose, CA for 5 years. I bought it in 2001 brand new for $85K. Do these homes ever appreciate? Will I be able to breakeven at least for what I paid for originally?

Thank you,

Unfortunately I don't own the land, the home is located in a park.

Answer 1

I have always been told that mobile homes depreciate like a car does. Sorry

Answer 2

Mobile homes never appreciate. The land they are on will appreciate, but not the trailer itself. Most of the problem is that the manufacturers use poor materials and poor construction techniques. Compounding the problem, most manufactured homes are in private parks; meaning, that you rent the underlying property forever (unless they change their minds and terminate the leases.)

To figure out whether you come out ahead or not by buying a mobile home add up the total cost of renting and the total cost of owning the mobile home and see which is the least.

My parents thought buying a mobile home was a good investment (they also bought the property it was on.) It provided them with a decent place with minimum repairs necessary. But, when it came time to cash out, the mobile home and property were worth about 50% of what a similarly priced house and lot would have bought at the time.

Answer 3

My experience is in the last 15 years in Florida. I've owned and mortgaged many mobil homes. They have always gone down in value. Even with land they still lose value. The land may go up in value but never the Mobile home..

Answer 4

If it's a double wide, the only way for it to appreciate in value is for it to be on a fixed foundation on land you own. However, they don't depreciate as fast as a car, it's a slower process. So most people are able to sell them for what they still owe on them. You won't make any money, but shouldn't lose anymore than you would, had you rented anyway.

Answer 5

The mobile home will depreciate, but the land you're on will appreciate. I hope you own the land, though:}

Answer 6

I have always been told they go down in value like a car. But if your planning on living in it forever then that doesn't matter. Instead of selling it if your planning on moving you might consider renting it out and getting a positive cash flow from it. It will give you a return on your investment. But you never know you could put it up for sale and see what happens you have nothing to lose.

Answer 7

This may help.
http://www.mytrailerpark.com/