A home is more than a house! It’s the financial security that comes from building equity in a good investment over time. When you buy make sure your home will meet your financial needs when it comes time to sell or refinance.
Manufactured homes are known for their value at the time of sale. How does this value translate to appreciation over time? Good question!!
Studies conducted by Seattle-based Elway research, University of Michigan and North Carolina show how that manufactured homes generally appreciate in value at the same rate as site-built homes in their neighborhoods. Location is the main factor determining long-term appreciation for both types of homes.
“When the location is good and the home is right for the location, manufactured homes appreciate in step with their neighborhood,” explained consultant and author Steve Hullibrger, who advises developers across the nation and tracks the long-term performance of a database of 1300 manufactured homes. “In my work with urban housing, it’s clear that manufactured homes do well if they are well made, sensibly selected for their neighborhood and blend in with existing houses.” He suggests that homebuyers use the same strategies that developers use when selecting houses for their home sites. “The first thing to look at is the neighborhood. Can we match the size and look of surrounding homes? The interiors of manufactured homes are often better than average site-built house, but don’t limit yourself to the standard exteriors. If the homes in the neighborhood all have garages, add a garage to your home. If they all have exteriors, add a brick facing. The initial investment will be worth it in the long run.”
Michelle Dux
DeTray’s Housing Consultant