To Move...or Not to Move?

[DD]

I've passed the one year mark for having my single-wide (1990 Patroit) on the market, and there's been no progress toward finding a buyer. A realtor recently gave me a suggestion, and I wondered if anyone else has tried anything similar, and what the results may have been, so here goes.

She suggested that I remove the home from the park where it's currenly located in mid-Michigan, and move to land I would purchase in northern Michigan, possibly the Gladwin, Houghton Lake or Gaylord area. She believes that I could refinance the current $14,000 mobile home loan, buy the land, move and set up the house with a conventional 7% home mortgage of around $30,000, which would cover all costs. Once it's relocated, I could sell the house through a conventional realtor as a vacation residence and possibly even make a profit on my investment. Since it would now be on my own land, the whole package would actually appreciate in value, and it would make an affordable home for someone who wants a place up north.

Thoughts?

[Gayle Linke]

Depending on where the property you buy is, you may have to add in costs of a well, septic tank, bringing in power lines, etc. Be sure to check this out before you commit to a piece of land.

[DD]

The impression I got was that the moving, septic, utility, foundation and all other related setup costs could be covered for under $10,000, and that I could find a plot of land for around $5000 (hence the $30,000 figure, rolling in the current $15,000 loan). Does that seem realistic?

[Gayle Linke]

Wells can be pricey if they have to drill very deep. You should check with a local drilling firm in the area you decide to move to. The same can be true of septic tanks. If your property can accomodate one of the traditional kind, they are not too costly. If it requires an aerobic system, it would be a LOT more. Again check with the locals for ballpark figures. Your realtor may be absolutely correct, but I would get estimates from all the trades involved, including the moving company, before I committed to anything.

[DD]

Well, hopefully,.I won't have to go through with all of this. My broker is having an open house at the park this weekend, and they'll be showing people through the house. I would prefer to sell it right where it is.