New homes in 55+ community

I’m looking at my first 55+ community. It is all TOH but a number of them are 10 and 12 wide 1960s models. To really upgrade the place, I’m considering buying and replacing as tenants move out.

Would you replace with 2 bed 2 bath? We do 3/2s for family parks but wasn’t sure with 55+.

Any other tips would be appreciated.

Major northeast metro, well and septic, $340k avg home price, $1600 avg 2br rent.

The market you are in is so expensive and over the traditional threshold of MHP’s that your potential residents will likely easily afford it either way.

It just depends on pricing. If a 3 bedroom is slightly more expensive or the same price, people will almost always choose more bedrooms if they can. It’s only when there’s a notorious price difference that they’ll downgrade or go with less.

Having more bedrooms can’t hurt (to a certain degree of price), where as having less, can. From my experience more bedrooms always sells faster.

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Thanks @Gonzalo you’re probably right. Given the market strength I should fret too much and go with the more desirable 3br at least initially. Margin for error with the demand for adorable housing.

also something to consider, even though this reply is crazy late based on when the original post was, consider the set backs distance you have to adhere to. Does this park have the homes very close together vs far apart and is there room for the width sizes you want to incorporate, the older the home for the most part the narrower the home, and also consider the replacement fees and utility upgrades that may have to happen with the underground/under pad parts of the puzzle. In my area there is a 10 foot per home side and 20 foot per street side and 10 foot by accessory structure… so it kind of jerks the space around, for example.

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