It’s become common for folks to move their families and belongings from state to state. This is due, in part, to the convenience of modern travel. It’s easier than ever to buy property 2,000 miles away, pick up your family, and move there. Also, as men and women earn degrees in specialized subjects and gain experience in their career fields, it becomes necessary to relocate for work. Because of this, inherited property can often be as much of a burden as it is a blessing. But this isn’t necessarily true of inherited mobile homes.
Mobile homes are – well, mobile. Inheriting a mobile home isn’t like inheriting a 1,200 square foot brick ranch home in Montana. It’s something altogether different, and in many respects, something much better, something much more convenient. So how can folks who have inherited mobile homes capitalize on this convenience?
Count the moving costs before you relocate your mobile home
Before you decide to relocate your inherited mobile home, count the costs. Moving a manufactured home can be expensive, especially if you’re planning to haul it across the country. But if you’re tied to a particular location because of work, relocating your newly inherited mobile home to your city of residence might pay off in the long run. You’ll be living in a home that’s paid for.
Pulling your mobile home long distances is pricey (between $10,000 and $25,000). But you can quickly recover the costs if you plan on occupying it as your primary residence. For example, if your mortgage or rent costs $1,000 per month and you move into a home that’s paid for, in two to three years, you’ll save $36,000 in housing. Even if you’re looking at spending more to move your inherited property, you may be looking at incredible savings in the very near future.
If you already own a home and have no intention of moving, consider buying a lot near your favorite vacation destination and relocating your inherited mobile home there. Think of the money you’ll save over the years if you’re not paying for a beach house, condo, or cabin every other season. Plus, when you’re not using your vacation home, you can rent it out and enjoy some passive income.
Remodel your inherited mobile home to make it yours
Whether or not you’d like to relocate your mobile home, you may want to consider remodeling – especially if you’ve inherited an older mobile home. New floors, countertops, or cabinets make your inherited home yours. If you don’t plan to live in your mobile home, remodeling will make the property more appealing to renters or potential buyers. (Before you rent out your mobile home, be sure to check out these landlord tips). But before you tear into those floors or cabinets, explore simpler, less expensive improvements to spruce the place up. For instance, using shiplap to create an accent wall may do just the trick for a fraction of the price.
Make your mobile home more energy efficient with new windows
In addition to boosting your curb appeal, new windows can save you money on heating and cooling. But don’t go drop those hard-earned dollars and cents at your nearest home improvement store. Most mobile homes have unique window sizes, so it’s best to consult a mobile home manufacturer before you get started.
Get to know your mobile home before you attempt routine maintenance
You wouldn’t get under the hood of your car with nothing but a wrench and enthusiasm. Why begin repairing your mobile home without understanding how it works? Now, if you’ve inherited your mobile home, it’s possible you don’t have prior experience owning a mobile home and that you don’t have access to the homeowner’s manual that came with the home. But don’t sweat it! Get your feet wet by checking out this free mobile home repair guide.
As a final option, consider selling your mobile home and cashing in on your inherited property
Inherited property is a blessing, even in this world of easy travel – especially if that property is a mobile home. We haven’t even scratched the surface of the endless options for capitalizing on the convenience of your mobile home. Of course, if keeping the mobile home isn’t an option, then you can always sell it. Read these helpful articles if you’re looking to sell your mobile home in Texas or Florida or if you just want to know how to sell a mobile home in 10 easy steps.