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Ten years from not the stick built home will have appreciated by 25% or more. The double wide will have depreciated by half. Twenty years from now the stick built will have appreciated by 50% or more. The double wide will be worth 1/4 what you paid for it. Thirty years from now the stick built will have appreciated and be worth at least double what you paid for it. You'll have to pay someone to haul the doublewide off. Food for thought.
I have some land that I've been unable to sell. I'm thinking about putting a few mobiles on it to generate some positive income.
Choices:
New 1036 sqft 3 bed, 2 ba dbl wide for $43,000, likely rent for $695
or build a small stick built 2 bed, 1 ba for $37,000, likely rent for $575
I could also get a new single wide for $27,000 rent for $595.
I also thought about used, but by the time you pay to have it moved, not too much cheaper than new?
Thoughts? Trailer or stick built? The land is one piece and whatever is put on there will need to be sold as one piece when it's time to sell.
Tony
In order to put a few mobile homes on it, the town would have to approve it. You also have to make sure waste can leave whether it's through the city hook up or septic.
I don't like the idea of mobile - as was mentioned they depreciate fast. 10 years down the road the town might make you haul them away. I know of one in my old town, they can't be over a certain number of years old.
I like stick built or modular but would make it a 3 bedroom at least. What about basement?
I disagree with mobile homes ( especially double wides) depreciating that much.
That line of thinking is true if you run an ad and state the double wide is for sake and must be moved off the properrty. If the property is kept neat and sold as a house and land, you'll be ok.
For posters that state I'm wrong, I have looked at many houses ( stick built and double wide) and I rarely find a 10 year old double wide on land at a price lower than I could buy land, install a sceptic and driveway, and have a new double wide moved in .
Many people bought a parcel of land 10 years ago, bought a new double wide, kept the property neat and landscaped, and sold it for way more than their total initial investment.
Yes, if they would have tried to sell the double wide and said in their ad---------" must be moved off premises"------they would have lost money.
I disagree with mobile homes ( especially double wides) depreciating that much.
You need to look at the facts. They do, period.
Quote:
That line of thinking is true if you run an ad and state the double wide is for sake and must be moved off the properrty. If the property is kept neat and sold as a house and land, you'll be ok.
For posters that state I'm wrong, I have looked at many houses ( stick built and double wide) and I rarely find a 10 year old double wide on land at a price lower than I could buy land, install a sceptic and driveway, and have a new double wide moved in .
Many people bought a parcel of land 10 years ago, bought a new double wide, kept the property neat and landscaped, and sold it for way more than their total initial investment.
Yes, if they would have tried to sell the double wide and said in their ad---------" must be moved off premises"------they would have lost money.
It's the LAND that is appreciating, not the home. Talk to any property appraiser and they will verify this. Mobile homes are chattel, not real property. They have a title, not a deed. They are appraised using the equivelent of a NADA book, not a real property apprisal.
taxes are based on an appraiser's valuation of a property.
You defenitely can attend a meeting to protest if you think the appraiser's valuation is --more-- than the market value.
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