Re: Manufactured Housing Questions
- From: "John A. Weeks III" <john@xxxxxxxxxxxxx>
- Date: Thu, 25 Aug 2005 19:06:55 -0500
In article <iiiPe.2023$eQ.1787@xxxxxxxxxxxxxxxxxxxxxxxxxx>,
"Lucy" <me@xxxxxxxxxxxxxx> wrote:
> I too have only heard that mobile homes depreciate in value. My grandparents
> had one.. theirs never did appreciate. Makes sense too.. I mean, if you have
> to buy a mobile home.. who would buy a used one?
> Buy a regular home, IMO.
Why spend 10 to 20 times the money to get a "regular" house
when a manufactured home keeps you just as dry and comfortable?
And lets do some math. Lets say I buy a luxurious top of the
line mobile home for $30,000. And I live in in 30 years. Lets
say it has zero value and the end of the 30 years (according to
your scenario). So, by living there, it has cost me about $1000
per year, and I have no investment.
Compare that to a regular house in the city that costs $300,000.
To live in this house, you have to pay $1800 a month, plus a
few thousand a year in taxes and insurance. You end up paying
hundreds of thousands of dollars in interest. In fact, you
pay almost twice per month of what the other house costs per
year to live in.
In fact, if you put that $1800 per month into a regular house,
you end up with a 30 year old regular house worth maybe $300K
that needs 30 years of maintenance and updating.
On the other hand, if you bought the mobile home, you have
a livable house worth nothing, but if you invested that $1800
a month wisely at 6%, you end up with a nest egg worth nearly
So, to avoid losing $30,000 in value on a manufactured home,
you foolishly suggest a "regular" house, when in fact, the
decision to buy that regular house cost you over a million
and a half dollars in missed profits. Making that kind of
mistake should be a criminal offense.
John A. Weeks III 952-432-2708 john@xxxxxxxxxxxxx
Newave Communications http://www.johnweeks.com