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I am considering buying a mobile home in Ct.. Would this be a wise investment?

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July 18 2010 - Prospect
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It would depend on many factors. If the price is right and you would own the land it sits on it might be good.  If its on its own FHA  approved foundation that helps.  If it is built after 1976 and only moved from the factory to the site.  Double wides are more easily funded then single wides. Stick built is usually (but not  always a better investment).  Are you planning to live in it or rent it out?   I would never advise buying a mobile home on a rented lot.  Things change and moving these homes are expensive.  Hope this helps.
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July 18 2010
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Define investment.

If you are wanting to rent it out you just might make money as a rental. Many do this.

If you want to see the trailer sell for more money in a few years it will not happen. Trailers are like cars. They depreciate.

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August 03 2010
mobile homes as a general rule don't retain their value as do pre-fab or stick built homes. Homes usually go up in value over time, but not historically the mobil homes.
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August 03 2010

You don't say if the mobile home is on leased land, but I am assuming that is the case  and it's likely in Harmony Acres.You should familiarize yourself with the park rules  as welll as be aware that there is a monthly lease for the land where the home sits. There are only a handful of mobile homes in Prospect that sit on private lots.. All things being equal, if you can afford to buy real estate, that is a better bet. as while a house depreciates, the land never does.  A mobile home on leased land dpes not fit that critera.   Consider nearby areas- particularly nearby East Mountain.

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July 22 2010
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I don't think that mobiles are good investments. If you can afford to buy a small older home instead if a mobile, I would do that. If you need a lower cost upfront, look for a well maintained condo with low fees and a reasonable condo association.
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July 19 2010
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most of the time mobile homes are sold for less than you paid for it.
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July 18 2010
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Mobile homes tend to gain less value (or lose more) than stick built homes.   Therefore, if you goal is to have a house to rent on land you own, it may pay off.  It may lose money.  There are too many "it depends" to say for sure.  If you want a rental, I'd lean towards stick built.
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July 18 2010
 
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