stay in park, move to house or move doublewide? long!

jiggreenJanuary 26, 2006

hi! i live in a 2178 square foot doublewide. it's a 1996 colony laurel model, and i must say, i LOVE IT. that being said, i don't like the fact that it is on rented land, 1/4 acre in a pretty nice mobile home park (most are doublewides and most sit facing the street, not end facing street). my lot rent is 295.00 a month, which includes nothing except the lot. (we pay trash, water, sewer, all utilities, etc....) we have been tossing around the idea of moving to a "real" house, as an investment in our future. i am frustrated by the fact that mobile homes tend to depreciate over time instead of appreciating in value. as well as the fact that the 295.00 per month will never get me anywhere as opposed to a land payment. with all of that being said, i am torn as to what to do. we have been looking for a home in the 120-150 thousand dollar range and i have found that i cannot replicate anywhere near the size nor amenities i have in my current home. (huge master bath with jacuzzi tub, very large kitchen with upgraded appliances, 3 bedrooms, large kitchen, family room, living room and dining room) we have made our home much more houselike than mobile homelike, but still the value is not as great as it should be as we are on rented land and when all is said and done, it still is a mobile home. here's the dilemna, since i've nearly ruled out purchasing a new house, would it be worth it for me to move this? does the value go up that much by putting a doublewide on a foundation on it's own property, or will it be a never-ending battle of depreciation? property values in our area are really starting to escalate, does that have any effect on mobiles in the area (even if they are on rented land?). it would seem logical that the less affordable the "real" houses are in the area, the more valuable the well-maintained newer mobile homes would be, but i am not sure. i have done some sleuthing but ours is one of the largest mobiles around here and it's hard to find any recent sales to compare it to. a current real estate listing has a single wide on a 1/4 acre piece of land going for 129,000. my real estate agent has told me she would list my home for about 65,000. other mobiles (much smaller, approximately 30%-50% smaller) in my neighborhood are listing for between 20,000.00 and 40,000.00.

sorry this is so long, i tried to outline my dilemna as accurately as possible.

all opinions are welcome!

jiggreen

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lizql

I'd consider moving the house. Here, one on property does not depreciate. Moving it to a foundation could add as much as one hundred thousand, depending on location.

    Bookmark   January 27, 2006 at 3:50PM
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nwesterner

I would second moving it, but make sure you have a very reputable and experienced company do the moving. I would check them out very carefully.

    Bookmark   January 27, 2006 at 6:26PM
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earthworm

I would move; Best of luck in finding reasonably price land.
Remember part of that $295 may include land/school taxes.

Best to be sitting down when you find out how high the taxes can be, even for a $65,000 home on a quarter of an acre..

    Bookmark   January 29, 2006 at 9:21PM
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sharon_fl

Lucky you! I'm amid the parks here in FL where the park owners are selling out to condo developers & park residents have been notified they have to vacate in 6 months and are only getting $4- $5000 to move their double wides!
Our lot rent is $399 a month-only incl. mowing, garbage-we have our own water meters.
Your home is so new that it would withstand a reputable move. To find all of the assets your home has, in a stick built home-would cost you through the nose, plus land, well & sceptic, etc.
Buy that land, pour a great foundation, move your home and you will have the best scenario.
I'm formerly from west of Scranton-and if you can find a prime piece of land..grab it!

    Bookmark   February 7, 2006 at 12:28PM
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jiggreen

thanks for responding to my posting!

DH and i are currently on the hunt for a piece of property to move our home to.

we found a wonderful piece of land (riverfront, on the susquehanna) in another county. the views of the water are gorgeous and it had a dock and and unbelievable price tag. only 28,900 for .92 acres!! sounds too good to be true, right? well, it was. as we were leaving the property, we noticed an establishment across the road. the sign in front of the establishment had the name of the place, and underneath it said "private club". we stopped at a diner down the road and asked what that place was. imagine our surprise when we found out it was a swinger's club!!!
sooooooooo, our hunt for land continues :)

jiggreen

    Bookmark   February 7, 2006 at 11:24PM
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lizql

Wellllll. That could have been interesting. LOL

    Bookmark   February 8, 2006 at 9:55AM
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wannadanc

Out west - cheapest pad rental in MH park is $400 per month - $800 is not unheard of. Other issues - MH does not appreciate on land - not the way a stick house does. I am in 1800+ sq ft MH on 5 acres in rural area ....tax on home is $600 per year/personal rather than real estate property. I was thinking about selling all right here and moving closer in to town into MH park, purchasing a new MH - (I live alone).. However, when I consider the hemmorhage caused by the pad rental, I will just stay where I am - and hire a driver when I can no longer get around. Surely a driver isn't going to cost me $800 a month unless I have to get to town for bingo games or something.

    Bookmark   February 8, 2006 at 9:31PM
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kathy_2006

I would try to move the home to a land you can buy. Land depreciation doesn't happen! Good Luck!

    Bookmark   February 20, 2006 at 1:00AM
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gman

Buy some land, plant your house and YOU WON'T REGRET IT!

We did just that and couldn't be happier with our decision in doing so. Good luck.

    Bookmark   February 27, 2006 at 11:12PM
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cnvh

Haha, jiggreen, I know EXACTLY the property you were referring to, near the "private club." (I live in Harrisburg, south of there, and we always joke about that club-- and the other seedy establishments-- on that stretch of highway when we drive through.)

Probably best you passed on it, if for no other reason than the Susquehanna FLOODS. You would have had to put your house on stilts!!

    Bookmark   May 8, 2006 at 2:12PM
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brendan_of_bonsai

I would buy land next to a swingers club, if there were a major price incentive, however the flooding would keep me away. When all is said and done that building I'm sure has very few windows and as a result you have more privacy that you would across from say a resteraunt, and the people who go there aren't going to bring children, so that means no snotnosed 10 year olds with sticks attacking your shrubs, However Flood plains tend to be hot and Humid in the summer and Cold and dry in the winter, not good.

I would recomend moving onto a piece of land and building a foundation, in the future if you wanted somthing that appreciated you could build a house on that land, or oyu could just enjoy owning your situation and paying taxes rather than rent.

    Bookmark   May 15, 2006 at 1:12PM
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sweetsunshine

So how does one go about finding financing for this endeavor? My husband and I are having difficulties because the few people we have talked about said you are only allowed one move of a manufactured home and they are counting the move from the factory. Our home is currently sitting on a lot in MI so we're paying lot rent, our mortgage and apartment rent in our new state. We relocated for employment reasons and are looking at purchasing land but b/c we already own the home (pay on a mortgage) we are having difficulty cutting through the red tape to get the moving financed in with the home without paying 3 sets of closing costs and getting shut down before we even get started. We've been told that it will cost upwards of 20,000 to move and set up our home on a slab foundation (that's without redoing the drywall). Any advice would be appreciated. This is very frustrating for us.

    Bookmark   October 7, 2007 at 3:37PM
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