Everyone is looking for a bargain in housing, but good deals are hard to find.
However, Coquitlam's most popular manufactured home park has seen a lot of action lately.
And it could be because you can get a double-wide home with multiple bedrooms at one third of the cost of a typical single-family home.
Still, some of the homes sold recently in Millcreek Village on King Edward Street are selling for pretty hefty sales prices.
The latest — a six-year-old, three-bedroom double-wide home with a patio and 1,675 sq. ft. of living space — sold March 18 for $555,000, or more than $55K over asking after 23 days on the market.
Close to Mackin Park and Real Canadian Superstore, the home at 132-145 King Edward St. is in an ideal location and, because it's new, it has the laminate flooring, stainless steel appliances and open layout that buyers are coming to expect.
It wasn't the most expensive mobile home sold in Millcreek Village this year.
According to Zealty.ca, a nearly, 2,000 sq. ft. manufactured home at 88-145 King Edward St., in the same park, sold Feb. 9 for $575,000, or $76K over asking after six days on the market.
The 34-year-old home has three bedrooms and two bathrooms and has been renovated with new floors and kitchen.
Outside, the home looks like a modest rancher but inside was renovated with solid wood beams emphasizing the tall ceilings, new appliances and flooring.
It was beautifully staged, including the patio with room for furniture and a barbecue, which likely helped with the sale price.
Meanwhile, another older manufactured home on a rented pad at 59-145 King Edward St. sold recently for $70,000 over asking after six days on the market.
This double-wide, two-bedroom home sold for $520,000.
According to Zealty.ca, price per square foot for manufactured homes in the area has increased by nearly 60 per cent since last March, from $184 to $284 today, and with limited inventory, it's a sellers' market.
All Kemp, the executive director of the Manufactured (Mobile) Park Owners' Alliance of BC. said manufactured homes have risen in price over the last two years, as buyers looking for more space seek out affordable options.
Kemp told the Tri-City News in an interview recently that manufactured homes offer more privacy than a condo, and though you still have to pay for pad rental, are still more affordable for a location in the heart of Coquitlam's densifying Maillardville neighbourhood.
Over the years the stigma attached to living in a mobile home has disappeared as newer homes are built to national standards, which makes them more like a wood-frame house with drywall, weather-proofing and a 25-year roof, he said.
And with greater respect has come recognition by banks: You can now get a 25-year mortgage to purchase a manufactured home, and refinance if you need to build a shed or a new roof, said Kemp.
"They're not trailers anymore. They are not mobile homes anymore. They don’t come with wheels. They don’t come with hitches," said Kemp.
And there are still bargains to be had, according to REW.ca.
There are currently two manufactured homes for sale at Millcreek, including a two-bedroom, two bath for $495,000, and a three-bedroom, two bath for $395,000.
