We are looking in the San Diego area.
2007-08-20 06:01:41 · 6 answers · asked by NeoV9 2 in Business & Finance ➔ Renting & Real Estate
Condo.
Mobiles, especially those in parks, depreciate in value as they are not made to the same codes as stick built homes.
2007-08-20 06:06:44 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The San Diego area may operate differently because it is such a desirable area. Land owned - meaning you own the land?, but the mobile depreciates so project what it will be worth in the number of years you plan to live there. If there is restrictions on how old/new the homes have to be to be in the park you may end up with no value at all.
Condos are fine if you like that style. You have association fees - but maybe amenities too- and restrictions on everything from parking to use of outdoor areas.
How does the resale look on each type? You can use that as your guide -or you can can decide that you want to have a strip of land around you that is all yours even if it is only 10".
2007-08-20 13:15:31 · answer #2 · answered by justwondering 6 · 0⤊ 0⤋
depends
if the mobile home owns the land underneath it and the area is growing enough so that it might be profitable to redevelop the land in 5 to 8 years, I think I might go with the mobile home.
redeveloping condos usually doesn't happen BUT that land under the mobile home might become worth a very pretty penny one day. [There was a Florida case where the mobile home owners agreed to sell out for near a million apiece.]
GL
2007-08-20 13:11:12 · answer #3 · answered by Spock (rhp) 7 · 0⤊ 0⤋
A condo. Mobile homes are frankly just junky. They also do not appriciate in value. A condo has more of a chance to appreciate in value. Get the condo.
I'm a normal dude who's really looked into this sort of thing.
2007-08-20 13:10:38 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Condo wouldn't want to be trailer park trash
2007-08-20 13:09:33 · answer #5 · answered by tinyfl27 4 · 0⤊ 0⤋
CONDO
No lenders want to finance manufactured homes. If it is in a park, forget it.
2007-08-20 13:07:24 · answer #6 · answered by ? 4 · 0⤊ 0⤋