daveisok t1_j5zaw09 wrote
No. Manufactured Homes are real estate in NH. In MA, they are more like a car or other good that is transferred via Bill of Sale and not a Deed.
It is considered a depreciation asset because often they reside in a park and owners do not own the land they sit on, meaning the value of the home only goes down while the value of the land may rise with the homeowner seeing no benefit.
If the land is deeded along with the home there is no reason to think of it as something that will depreciate.
last1stding t1_j5zhh2w wrote
Take a look at this. This is a development in Manchester you don't own the land this house has went up in value. I agree with your reasoning about land value. https://www.zillow.com/homedetails/8-Crosswood-Way-Manchester-NH-03102/125862801_zpid/
GreatGrandaddyPurp t1_j63wkgo wrote
To be fair the same thing happened to used cars but they're still a depreciating asset in normal market conditions.
NecessaryMistake9754 OP t1_j5zouno wrote
How do you know they don’t own the land? Does it say it in the listing?
redditthrower888999 t1_j5zr5pb wrote
Go to the assessors webpage. Valuation will list land value and building value. In this case it only lists the building. It does not list anything under land. The above house is listed as a condo.
UncleRicosWig t1_j61hab2 wrote
Listed as a condo, I’d assume you don’t own the land.
NecessaryMistake9754 OP t1_j5zrgjv wrote
Shouldn't that be disclosed in the listing that it is land leased? Wow it's crazy that's blatant lie. A condo and a land leased house is very different
redditthrower888999 t1_j5ztyvm wrote
When you see a listing that looks like a house but the listing says it's a condo, that pretty much says you don't own the land.
last1stding t1_j5zzi3h wrote
The development is right up the street from me. I watched them being built. They sold like hot cakes. I talked to some of the owners.
sugarplum811 t1_j6131wk wrote
It's listed as a condo.
NecessaryMistake9754 OP t1_j5zb9xg wrote
Even if it is on its own land, manufactured home on average only lasts 30 years. You would have to buy a new manufactured home after 30 years. This is exactly the definition of a depreciating asset.
daveisok t1_j5zcjmj wrote
I would venture to guess that there isn’t too much of a difference between the lifespan of a standard new ranch home compared to a new manufactured home. It’s all up to the care and upkeep of the owner.
sound_of_apocalypto t1_j63cdxp wrote
If you don't maintain a normal house it can also depreciate.
SheenPSU t1_j655507 wrote
That house says it was built in 1948 tho. Seems more like a ranch to me over a 75 yo manufactured home
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