retained value

[Bob Reed]

I'm soon to be a first time buyer of a new manufactuered home on a leased lot.

My impression is that unlike a stick built home manufactured homes depreciate
in value rather quickly. Is this correct? Assuming that the park and home
continue to be well maintaned what is the average depreciation over a 5 or 10 year period. We do plan on this being our last home but in the event that things don't
"work out" I'm wondering how much of my original investment I stand to lose?

thanks Bob

[Randy Eaton]

Hello Bob,

A good rule of thumb is what you paid for your home is what it will be worth in 10 years. If you pay $30,000 for a mfg. home now and in 10 years you want to sell it, you'll probably get $30,000 for it maybe a little more. It depends on the condition of the home of course. In parks and on leased ground this rule applies. If you’re putting your home on private property then you home will appreciate, especially if you placed your home on a concrete foundation.

Randy Eaton