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re: What Percent Of The OT would you guess Live in a mobile home/Manufactured Home
Posted on 11/14/20 at 11:43 am to RogerTheShrubber
Posted on 11/14/20 at 11:43 am to RogerTheShrubber
quote:
With the cost of housing and rent, seems like a more viable option than ever.
My only issue with trailers is that they depreciate like a vehicle. I guess that's not a concern if you plan on staying in it forever though.
2
Posted on 11/14/20 at 11:46 am to fallguy_1978
quote:
My only issue with trailers is that they depreciate like a vehicle
While true, it's a helluva better option than renting. Also benefit some who are saving for a down payment on a house.
Sure beats living with mom and dad until you're thirty.
Posted on 11/14/20 at 12:11 pm to pioneerbasketball
Manufactured homes can be really nice.
Posted on 11/14/20 at 12:12 pm to RogerTheShrubber
quote:no it's not
While true, it's a helluva better option than renting.
Posted on 11/14/20 at 12:14 pm to GreatLakesTiger24
quote:
quote:
While true, it's a helluva better option than renting.
no it's not
Financially, hellyeah it is.
Posted on 11/14/20 at 12:22 pm to RogerTheShrubber
quote:
In general, mobile homes depreciate at about 3-3.5% a year. Working out how much your manufactured house has depreciated can help you to fairly accurately determine the current value of your home. For example, a home that originally cost $50,000 will be worth $ 41,000 after six years
It looks like they depreciate about 3% per year so not quite as much as I'd thought. You'd probably come out ahead in one vs renting unless your maintenance costs ended up being high.
This post was edited on 11/14/20 at 12:22 pm
Posted on 11/14/20 at 12:29 pm to fallguy_1978
Yes. A 100k mobile home would depreciate about 3,500 a year. Now, 100k buys a lot of mobile home in much of the country.
My younger daughter did this when she was going to school to be a dental hygienist. Worked out very well for her.
Lifespan of a mobile home is roughly 25 years, probably not a lot of difference between them and many houses they build today.
My younger daughter did this when she was going to school to be a dental hygienist. Worked out very well for her.
Lifespan of a mobile home is roughly 25 years, probably not a lot of difference between them and many houses they build today.
This post was edited on 11/14/20 at 12:31 pm
Posted on 11/14/20 at 12:35 pm to fallguy_1978
quote:
My only issue with trailers is that they depreciate like a vehicle. I guess that's not a concern if you plan on staying in it forever though.
The land might go up and offset some or all of the depreciation.
My biggest complaints would be that a MH isn't safe in violent weather, and they tend to be energy hogs.
Posted on 11/14/20 at 12:48 pm to Bestbank Tiger
quote:
My biggest complaints would be that a MH isn't safe in violent weather, and they tend to be energy hogs.
You can buy them to handle both of these issues. To have one here, it has to meet certain codes and are both safe and energy efficient.
They are expensive though.
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