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I was wondering we are up here in Chattanooga looking at real estate, and mobiles are listed as real estate and must be on a regular type foundation, SO the question is do they appreciate in value if well maintained or depreciate?
We need input as we are considering one that is in very nice shape on a beautiful 1 acre wooded lot and love the area. We would be using as vacation, short term rentals to family friends and eventually for retirement. It is a top of the line for the manufacter and in great shape advice please!
The structure will almost surely depreciate and the 1 acre lot will flow with the land market (slow appreciation I would guess).
One problem with mobile homes is financing. The secondary market lenders all have special guidelines for mobile homes and many lenders have actually stopped financing them all together. This makes these properties less attrative to some buyers as they cannot get as good of terms as they can on stick built or modular homes.
Here in Pennsylvania it is almost impossible to get a loan on a used doublewide on acreage except through FHA and the closing costs are out of sight. I would steer clear of it. They are very nice homes but a really hard to sell. The older they get the harder they are to sell. After 15 years you can forget about getting any kind of financing.
We tried finding financing for a mobile/trailer on a beautiful 6 acre lot with an additional stick-built house. The only way the local banks would go for it was to REMOVE the mobile/trailer - which was on a foundation and in excellent condition - almost new. Doesn't matter. Financing on a mobile is next to impossible. You will probably need to purchase the land with your mortgage, then buy the mobile separately as a revolving credit. We tried several different ways and weren't able to get the terms we wanted with a mobile home on the land at all.
Maybe there's a realtor or mortgage broker who has some advice, but as a Buyer, we gave up and I ruled out any land with a trailer on it
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