Greg S wrote:60,000 to 80,000 single wide mobile homes, in a park, with lot rent ------ in Canada.
Depending on the area I have seen mobiles (single wide) up here in parks sell for 150,000 or more.
If well maintained ours do increase in value but usually only as a reflection of the updates. With surrounding stick built homes selling in the 4-500,000 range mobiles are bound to inflate as well.
A new single wide (fairmont) costs about 70,000 from the manufacturer. This is before set up costs. Part of that is due to the stricter Canadian building codes up here.
Obviously Florida's real estate economy is in the toilet and as such mobiles follow the trend. I also understand that Florida is not investor friendly when it comes to park ownership. Most investors in the US advise against owning Florida parks.
If homes sell for 2-3000 how much can an owner rent them out for.
That's interesting and my friend grew up in Canada, but he was born in the US to Canadian parents and has lived here for 3 years.
Well the rents have to be at least the lot rent which is $615, (at my location) due to go to $640 in January. Plus water. Some newer ones and bigger ones would go for more, and you might be able to get up to $1000 or more for a 3 bedroom MH because renting a house or large apartment will cost more than that. I don't even know if this park allows you to rent them out. I know even if you want a roommate they have to be approved.
I was renting and my rent for a 440 sq ft apartment 2 blocks from the beach was $750 a month. I was there for 3 years and the rent never went up, and if it did I would have left sooner, but I was a very good tennant. Rents were stagnant for a long time and are just now starting to go up but there are many vacancies all around.
Before I bought the mobile home I was looking for apartments and now my lot rent for a two bedroom MH is less than what a studio/efficiency is going for. Plus there are a lot of other benefits to owning your own place. The landlord won't have keys and sneak around when you are not there, and the neighbors wall do not touch yours so you do not hear their every move. You can also do whatever you want inside, you can paint if black or knock down a wall.