Hello:
Can a manufactured home ever appreciate in value on a rented lot? I've heard that when the home sits on a rented park, it tends to depreciate in value. I'm planning to buy a new manufactured home and wanted to know what I can do on my part to maximize it's value. Is it possible for it to appreciate if it's well taken care of?
Your comments on this is greatly appreciated,
--Will
San Jose, Calif
Appreciation
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Ron
RE: Appreciation
Will,
It is very difficult for a mobile home to appreciate on a rented lot. The only way I know of is to find a mobile home park that is well landscaped, quiet, that accepts only mobile homes with shingle roofs and vinyl siding. It will also help if the landlord requires decks instead of steps.
Even then, you will be lucky to break even. We live in a 14x76 Oakwood in a lovely retirement park. If we sold now, w
It is very difficult for a mobile home to appreciate on a rented lot. The only way I know of is to find a mobile home park that is well landscaped, quiet, that accepts only mobile homes with shingle roofs and vinyl siding. It will also help if the landlord requires decks instead of steps.
Even then, you will be lucky to break even. We live in a 14x76 Oakwood in a lovely retirement park. If we sold now, w
-
Ron
RE: Appreciation
Will,
It is very difficult for a mobile home to appreciate on a rented lot. The only way I know of is to find a mobile home park that is well landscaped, quiet, that accepts only mobile homes with shingle roofs and vinyl siding. It will also help if the landlord requires decks instead of steps.
Even then, you will be lucky to break even. We live in a 14x76 Oakwood in a lovely retirement park. If we sold now, we would about break even with what we have invested in the home itself, after living here six years.
As long as the mobile home is on a rented lot, your home is personal property and not real estate. Consequently, the value of your home is determined by using the NADA (Nat'l Auto Dealers Assn.) wholesale book. Much like the Kelly Blue Book for automobiles.
Vitally important to breaking even is also staying with a major MH manufacturer. Oakwood, Norris, Clayton, will hold value better than off brand MH manufacturer.
Bottom line, best you probably can do is break even. But, important to remember, if you are paying rent at the rate of $500 plus dollars a month, breaking even is not that bad.
Regards,
Ron
It is very difficult for a mobile home to appreciate on a rented lot. The only way I know of is to find a mobile home park that is well landscaped, quiet, that accepts only mobile homes with shingle roofs and vinyl siding. It will also help if the landlord requires decks instead of steps.
Even then, you will be lucky to break even. We live in a 14x76 Oakwood in a lovely retirement park. If we sold now, we would about break even with what we have invested in the home itself, after living here six years.
As long as the mobile home is on a rented lot, your home is personal property and not real estate. Consequently, the value of your home is determined by using the NADA (Nat'l Auto Dealers Assn.) wholesale book. Much like the Kelly Blue Book for automobiles.
Vitally important to breaking even is also staying with a major MH manufacturer. Oakwood, Norris, Clayton, will hold value better than off brand MH manufacturer.
Bottom line, best you probably can do is break even. But, important to remember, if you are paying rent at the rate of $500 plus dollars a month, breaking even is not that bad.
Regards,
Ron
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