As an appraiser here is how appreciation and depreciation works. First, wether it be a large custom home vs. a small cottage; the actual value of the structure depreciates over time. What really drives up prices is the land value. On TV they have a show called National Open house that depicts property around the country and the prices of homes. Why is it that you can buy a 2,000sf home in NY for 700,000 vs. the same home in Georgia for 200,000 it's because the land in NY is worth 450k vs. Georgia's land value of 80,000. If you have a mobile home you purchased for 15,000 on rented property and try to sell it after 5 years you might get 10,000 for just the mobile home but if you own the property underneath you might get 25,000 after 5 years with the mobile home on it. If you are looking to get appreciation in value you will want to purchase the land + the improvement.
Experience - Real Estate Appraiser