I will need to begin replacing some of the old single wide homes in my park in the near future I suspect. I would prefer to replace them with newer single wide homes, because this would in most cases fit better into the lot as it is. Is there a reason why I should consider squeezing a double wide into these lots? I am asking this mainly because I know that banks always look at the single wide to double ratio when considering financing. I am not sure if this is just out of the perceived notion that double wide homes are newer, or because they believe the market for them is stronger. My park is mostly single wide homes now.
Thanks for your help.
Marcus
@Marcus I am just curious. Why do you want to replace the mobile homes that you have in the park now? Does it cost more to fix them than to bring a new one?
Not necessarily, but if the cost is similar then I consider it to be better in the long term interest of the park to get newer homes in.
My thoughts are to stay with SW homes than bringing DW homes. The only exception I can think of is if you are planning to convert your park from a 2 or 3 star park to a 4 to 5 star park and have deeper pockets to do it. If not, just stick with the SW homes. You can provide affordable housing to more tenants.