Buying A Home
cmeinla
member
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
manufactured home depreciation
H and I are looking at getting a manufactured home in about 6 months to a year, we believe we'll be able to pay off a 40-45K home in about 5-6 years.
His mom and step-dad have offered to let us put one on their land so we can have our own home.
I was trying to find out how quickly they depreciate, because what we're thinking about doing is once we've got it paid off, we'd sell it and use what we don't have to put towards taxes as a down payment for a regular house.
I found one website that says they will depreciate 15% the first year and about 5% each year after that till at least the 5th year?
Does anyone know if this sounds correct? Or if this is incorrect, what's the correct way?
TIA!
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Re: manufactured home depreciation
That sounds about right. But it will also depend on whether it is a manufactured home as in doublewide or if it is a modular home. The type of foundation it is placed upon also factors into depreciation.
I know that doublewides that have been placed on a permanent foundation and have been deeded as "real property" do not depreciate as fast as a doublewide sitting on a concrete pad, etc.