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> Simple calculation says I saved about $40,000 so far That only works out if you can sell your mobile for $50k - typically (there are exceptions based on loca
by sonotmyname 6y ago
> Simple calculation says I saved about $40,000 so far
That only works out if you can sell your mobile for $50k - typically (there are exceptions based on location and market conditions, but typically) mobile homes depreciate in value, while 'fixed' homes appreciate.
6 years ago if you'd put that $50k down on a 200k house, you'd have had a ~1k mortgage and a home that has appreciated to ~240k, instead of a mobile home that has depreciated.
- yboris 6y agoThe housing appreciation is overrated: your house is worth more, but so are all the other houses you want to buy when you move. And people complaining when the housing prices fall also confuse me: so what, the house you buy when you move is cheaper too. The trailer home I bought was built in 1984. With all the people moving out of NYC into New Jersey, similar mobile homes in my development have sold for $80k. I may end up selling for a similar amount. Though I do think you're right and it is typical to lose money when re-selling a mobile home. As a side note: I paid 0 tax when purchasing it (it's not a house, no house tax). My "closing" expenses were $40 to get the title registered at the local DMV / MVC (Motor Vehicle Commission). It's pretty nice.