My mobile home

[darla]

I have owned a mobile home before but it was updated, simple tlc was easy.

I recently bought a 1974 sheffield mobile home that the ceiling leaked. Tared the roof leaking quit. The old ceiling panels has water damage. This mobile home has no water shut offs or gas shut off in the home. Still has a fuse box with fuses<How do I know if electrical is up to date? My washer drains in my tub with a tube ran through the wall and fills up with a connector to the toliet. Dryer vents inside. Central air dont work, blows but dont work good. The furnace is separate thermostat than central air and some vents blows central and others blows heat some blows both. That is ofcourse when you turn one on the other off. Metal siding on outside. Furnace might need replaced soon. No outside outlets or hose hook up. Windows leaked before I caulked them on the outside which are org windows which needs replaced. panneling inside are damaged. 13 windows in the whole trailer thats 2600.00 just for windows if not more. Kitchen faucet has froze twice this year so far. There isnt even kitchen cabinets.

Ok well there is more but I guess my ? is do you think this home is worth putting much money in? Should I do what I need to in order to live in then move quick. Please help.

[David Oxhandler]

No one except you can make that decision.

Many people will tell you that MHs built prior to the HUD code standards are worthless but that is just not so. Homes that are older than the HUD code are more difficult to get financed, because the lenders have no idea how the home was constructed or what its life expectancy might be.

We own mobile homes that we rent. Some were built in the 70's prior to the Federal MH Building Code. They have been maintained and updated periodically with new carpet, appliances, fixtures and even additions... just like you would with any 40 year old structure. They have held their value and we get as much rent for them as our newer homes of the same size. I can add a used home to our rental inventory for less than half the cost of a new one.

Make a list of everything that needs to be done to make the house comfortable and acceptable for you to live in. Number them with the most urgent items first. Then start to write down the dates next to each item when you think you would be able to afford the time and money to make that happen.

Put that list up against a second list of the cost of a replacement homes that you would be satisfied to live in as is ... and note how long it will take for you to be able to purchase the ready home.

Once you have those full facts the decision should be easy.

Pre-owned homes that need work can be a great investment. The age is not important. The THREE things that are most important:

1 - LOCATION

2 - CONDITION

3 - PRICE

For more details see:

How to Find A Good Deal on A Pre-Owned Manufactured Home

Articles and Videos On MH Repair and Renovation

DOWNLOAD : The Manual for Manufactured Home Repair & Upgrade - E-Book Edition

Factory-Built Homes Appreciate


MH BUYERS FORUM STRING ON Depreciation