So you’re noticing that your mobile home could use some work. You’re looking at the tattered carpet, the disheveled siding and you’re wondering — is it worth it? If your mobile home worth the cost of renovating? Or are you better off selling your home?
That’s the point of today’s article. We’re looking to provide you with some input on how to decide if it’s time to renovate or sell your mobile home.
It’s important that you don’t run to any rash decisions. A mobile home in need of renovation could be a money pit. It could also be worth every penny, providing you with many more years of shelter and use.
How to decide if it’s time to renovate or sell your mobile home
In determining whether it’s time to pack up and sell or pull out your toolbox, we have a few thoughts to take into account.
This could be your time to relocate
There’s not much to do here in regards to counting the cost of home renovation. If you’re feeling overwhelmed by the idea of renovating your home, this may be your chance to consider relocation.
Have you been toying around with the idea of moving to another state? Or across town? This is a good opportunity to consider a move. Whether it be for family or work, this will help you decide how thorough you ought to be in fixing up your home.
If you’re not staying in it, then you don’t have to worry about renovating according to your own personal taste and comfort. Should you decide to move, you’ll only have to fix it up to the extent that you wish. Maybe you’re not expecting to get much out of the sale.
Focus on minor fixes such as tossing on a fresh coat of paint and replacing the carpet with laminate. While you’re at it, pressure wash the exterior. Go for a low budget approach to giving your mobile home a low budget facelift. This will help increase your home’s appeal to would-be buyers.
The length of time you’ve been in your home
How long have you been in your home? If you’ve been in your home for three to five years, you can be at peace in knowing you broke even from the purchasing expenses.
Consider the types of renovations
Before you go forward with the renovation route, consider the types of renovations you’ll be dealing with. Think about the implications that come with what you’re going to do. Some renovations may require the hassle of permits and contractors.
Is it worth it to you? What are the costs incurred? It’s not just about the cost of materials.
Talk to a real estate broker
If you’re serious about selling, bring a real estate broker on board. Your real estate broker will help you understand what the value of your mobile home may be.
Additionally, you may look at homes in a similar condition to yours. See how much they’re going for and how long it takes to sell. But a real estate broker will provide you with a more professional look at your mobile home and property value.
Is space an issue?
For those who are tight on space, selling and moving is a good option. Your family may have outgrown the space of your home. And that’s OK. You can remedy that by up and selling rather than focusing on renovations.
Renovations and resale value
Now let’s talk about renovations and resale value. If you’re thinking about moving in the next few years, you may wish to reconsider the type of renovations you’ll be going for. Certain types of renovations carry more value than others. You want to pour money into your home that will give back to you when it comes time to sell.
Well, that’s the idea anyway.
However, if this is your forever home, then you may wish to run free with the types of renovations you choose.
Those are just a few thoughts to weigh before you move forward.
An adventure awaits
Whether you renovate or sell, an adventure awaits. Giving your home a fresh look and an update? That’s great! Looking to move on to greener pastures? That’s thrilling too!
Whatever you choose to do, it’s our hope that you enjoy the path you take. It’s a journey and one that is close to your heart at that.
And if your home is in a real funk — dilapidated and beyond resale value, consider donating it or calling in for demolition.