2007-05-08 08:03:45 · 6 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
My experience is that it is quick and easy to buy and setup, but the resale is very poor.
2007-05-08 08:08:00 · answer #1 · answered by Craig B 1 · 0⤊ 0⤋
There's a difference between mobile home and manufactured first of all. Mobile homes CAN be financed for 30 years, but only if they are on property. Manufactured homes, do not appreciate like a "stick built" home, but the property it sits on may.... nevertheless, in the current financing climate, either purchase will be difficult to finance.... certainly not at 100% anymore.
2007-05-08 09:00:57 · answer #2 · answered by mibanker 3 · 0⤊ 0⤋
A mortgage on a mobile home will cost about the same per month as a regular house that is slightly smaller. The reason for that is that the house will be on a 30 year mortgage, the mobile home on seven. The reason for that is that after ten years, the house will be worth more than was paid for it, the mobile home will be worth less than the cost to haul it to the landfill.
2007-05-08 08:38:44 · answer #3 · answered by open4one 7 · 0⤊ 1⤋
Modular is OK but manufactured loses value and is difficult to get financed.
2007-05-08 08:09:24 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Only in the short term. You will evenually face diminishing return on your investment.
2007-05-08 08:08:24 · answer #5 · answered by Anonymous · 0⤊ 0⤋
They lose value just like a car. You even get a tital on it!
2007-05-08 08:07:58 · answer #6 · answered by the need to know 3 · 0⤊ 1⤋