1981 electric everything but gas furnace
53 by 14
We were going to renovate unit, but may consider selling it
Unit is ready to be moved
Located in Brunswick , Ohio
Message for info
After buying many used homes, including 1980s models, I have decided that it is not worth the effort. When you purchase a used home, the move and set up cost is the same as if it was brand new yet it may have unknown problems. Unless you have a competent remodel team, many mobile home park owners do not have the capability to fix these homes.
I have found that by buying used homes and hiring shoddy contractors to fix them, and then reworking the shoddy work, that it has cost a similar amount to refurbish a home as it is to buy a brand new one. For that reason we have not bought any used homes in the past few years.
Also, if you buy a 40+ year old home, you are not upgrading the look of your community. If your strategy is to raise rents to a premium price, then you need to have a look that commands that price. Moving in 40 year old homes does not support a premium price.
That being said, if you have communities that are in a softer market where the residents cannot afford the monthly payments or the outright price on a brand new home then a used model is a viable consideration. However, communities in softer markets are harder to keep occupied with good tenants.
Lastly, if you are trying to occupy 40+ year old homes, you will not have a strong tenant base. The people who are looking to move into a brand new home are much stronger than those that are looking to purchase an old model.
A typical question from somebody trying to move into a really old home may be âI cannot afford the $30 application fee, so can I pay it in two installments?â A typical question from somebody moving into a brand new home may be âDo you mind if I install central air conditioning or a 10 x 20â professionally built deck at my expense?â
Bottom line is you will have a much nicer community and stronger, easier to manage tenants with newer homes.
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If you arenât going to renovate it, youâd be better off giving it away to another park owner. $4500 + $4000 moving/set up cost + $550 state permit/inspection + $1600 new skirting + $1000 deck + $? renovation/repair cost + $? cost to repair or replace hot water heater and furnace = a price that would be too high to resell a small 1981 at market price. I understand that some people will pay an amount up to the value of an occupied lot for a home, but my guess is that they wouldnât for a small 1981 home. And, like mPark said, this home wonât enhance a community.