Pre-owned Manufactured Homes and “Mobile Homes” Rising in Value

A manufactured home is a poor investment, because they depreciate. Right? – Wrong!!

That lingering myth and lack of quality affordable site-built housing across the country has prevented many from realizing the American dream of quality homeownership.

Many potential home buyers never consider manufactured homes for purchase because of the preconceived notion that the “mobile homes” of long ago that have been passed down from generation to generation are like automobiles: “They depreciate,” That characterization has not been accurate for many years, yet the myth is still prevalent with those that have not explored the realities of today’s manufactured housing as a sound long-term investment equal or superior to site-built homes in every respect, and every geographical areas of the country.

Mobile Homes Are Also Rising In Value

With house prices steadily rising across the Triangle, many would-be buyers are turning to more affordable alternatives like prefabricated homes.

The result: “mobile” or manufactured homes are climbing in value at some incredible rates, according to a recent study by online loan lending platform, Lending Tree.

In particular, North Carolina ranked among the states where mobile homes are the most expensive with a median price around $70,600. That’s still nearly $166,300 less than the median value of a single-family home, Lending Tree noted, but their value is climbing quickly — with a five-year appreciation of nearly 20% statewide.

This week’s Price Point sheds light on this trend. It features double-wide manufactured homes built after 1986 ranging from $130,000 to $240,000.

Among them is a three-bedroom manufactured home in the old Stage subdivision of Raleigh. In 2014, it sold for $85,000. This July, buyers bought it for $240,000. That’s a jump of more than 182% in less than a decade.

At these prices, are manufactured homes still a good deal?  You decide!!