In The Face of Texas’ Rising Housing Costs, Consider the Mobile Home

With how expensive things are getting, younger people living in Texas are starting to worry that their dreams of owning a home may never be realized. This means that they are left renting or hunting for the most affordable way to buy.

A less expensive way to own a home in Texas is by purchasing a mobile home. A big concern is whether a mobile home is a good or bad investment.

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Mobile Homes Lose Value

It is true that mobile homes tend to depreciate in value over time, especially if you place them in mobile home parks. If you aren’t worried about the home’s value decreasing over time, and you simply want the least expensive option, then this might be a good choice for you.

When Can They Gain Value?

The trick to owning a mobile home that will appreciate in value over time is by placing it on your own land.

Land is plentiful in the Lone Star State, and it typically gains value over time, especially in fast-growing cities like Lubbock. So, if you find a piece of land that fits your budget, and you place a mobile home on it, the increase in value of the land will outweigh the decrease in the mobile home’s value.

So, is it a good investment?

Overall, if you buy a mobile home, the house itself will lose value over time, but if you counter that by putting it on an appreciating piece of land, then you can have yourself a pretty good investment.