Mobile home on private land?

I've heard that mobile homes in parks or rented land depreciate in value...but that mobile homes on their own land appreciate in value, or at least stay near the same. Is this true?





If I got a mobile home with its own land, but wanted to sell or rent it a few years later...would the value have fallen through the floor, or what? In other words, is it totally stupid to buy a mobile home, even on its own land, lol?





I've asked several real estate questions lately, I'm searching for the best cheap housing for my family. I found a dealer that sells really nice doublewides for $59,000 (free delivery and setup!) but I'd need my own land (looking at vacant lots through tax sales). With this option, I'd have to get a relative to cosign, and hopefully pay nothing down...but I have $6000 to go toward at least a year of rent. Right now I don't know what direction to turn, all I know is that money's going to be tight, and figure out whether to go with a trailer or renting or what.

Mobile home on private land?
It is better to own a mobile home on a private lot that you own. However, the land may appreciate but the mobile home will not. If you are looking for long term housing with no plans to move anytime soon this may be the route to go if you are financially strained. If your circumstances changes down the road and you are more financially capable you can always have a house built on that same land and could rent the mobile home out on the same property or just sale it (Although you want get what you paid for it). I hope this helps.
Reply:You should definately rent somewhere while you look for a deal over the next few years. Read reatlor.com once a week and buy in 09.





location location location.





(And please, do not buy a new trailer. used trailers are very cheap. the gov't dropped about a billion used trailers on the market lately. spend at most 9k on trailer and do a a lot of bushes and land scaping. Try and make your lot look like an estate so big you can't even see the house.)
Reply:I am a Realtor in Oregon. Mobile homes on land here do well because of the land value. Someone suggested buying a used double wide which is OK but the ones the gov't dumped had problems with formaldehyde which can cause respiratory problems, etc. Be careful to check that out.
Reply:It's the land that appreciates mostly. Set the doublewide on the land but not where you really want it eventually. Then when you get a little ahead, have a basement and foundation made to set it over. And get an 8-foot basement made so you don't have to duck all the time.

Hotels Recommend