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Real Estate

People Are Now Spending $70K Over Asking For Mobile Homes in Coquitlam

mobile home coquitlam

Photo: Zealty.ca

A premanufactured mobile home in Coquitlam just sold for over $500,000. 

This has some people shocked because a manufactured home, a type of mobile home that largely premade and assembled on site, is pretty much the cheapest option for a detached home.

According to Zealty, the Coquitlam residence at 145 King Edward St. in Millcreek Village is 35 years old and is 1,600 square feet. It sold for $520,000, which was $70,000 over asking, after being listed for six days. 

RELATED: This Surrey Townhome Was Just Sold For $310K Over Asking

In perspective, one single (not prefabricated) detached home in Coquitlam that is less or around the same amount of square feet is often over $3,000,000.

Price wise, buying a detached home is more comparable to purchasing a condo.

Mobile home owners also need to pay a pad rental fee, which is comparable to a strata fee and can be around $700 – $1,100. 

A big reason someone might consider a mobile or manufactured home over a condo is privacy. You are not sharing walls with neighbours. 

This price for a manufactured home is indicative of a low supply of detached homes and an overvalued real estate market.

At this rate, if you are thinking about moving into a van down by the river, you should probably buy now. 


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