|
Should I move ?
I will try to be brief. Me and my wife currently live in a mobile home that is falling apart. It is in need of many repairs and neither of us knows anything about home repairs. We dont make a ton of money whcih is what it would take to repair everything. At the same time, it is paid for and we hate the thought of having a rent payment again. Should we sell and move into something nicer, or stay where we are and try to eventually get everything fixed?
[ ]
Want to answer more questions in the Miscellaneous category?
Maybe give some free advice about: Doesn't Fit Any Of These Categories?
Your questions comes along with other questions you should ask yourself before coming to a decision on what to do.
Living in a trailer I believe means you pay some sort of ground rent for where the trailer is sitting so lets start there. You need to make a list of everything that is wrong with your present trailer. If you know the cost of the repair or if unrepairable but replaceable put that price in the column next to it.
Once you have your list of what needs to be done to rehab your present trailer total the list of repair costs to see what that cost will be then add in your ground rent. Now you have a figure to work with.
It would not be unusual for the cost of the repairs to exceed the value of the trailer as replacement parts often exceed the sum of the whole even when the whole is new. Since you are unable to make the repairs yourself this means the cost is inflated by the value of contractor labor as well.
Now that you have a figure to work with is how you make your decision. It just may be the cost of the repairs less the ground rent could be close to the cost of a used or even new trailer. The people you contract with to buy your new or used trailer with should work a deal with you to purchase your present trailer from you for at least the cost of swapping the two trailers.
It is possible that you may end up with a small amount left to pay on your replacement trailer. I believe given the present real estate market that this would be preferable than to buy a stick built home and have a huge mortgage.
Should you replace your present trailer with another ask the dealer if they offer any service contracts. Since you are not a handyman type this would be a good investment on your part in keeping the replacement trailer in good shape to maximize the resale vale when you decide to sell it.
]
The user below me is right. One thing you need to consider is the profit. If the trailer cost much to repair you can fix it up but it may have a hard time selling in the economy expecially seeing as the value for homes itself are going lower and lower.
This is just an option but if the trailer is unrepairable then you could try to sell as is or just find another place to go. Maybe a nice apartment or something but I wouldn't be trying to by a house nowadays.
]
Dear Should I move,
You have a home that is paid off and you want to move in these economically hard times?
You will be lucky to sell your mobile in today's hard market.
I would take the money that you would expect to pay in rent if you were to move and start fixing up that mobile of yours.
The internet is a wonderful resource tool for fixing anything that is wrong with your mobile. For the first time in human history we have 2K years of information at our fingertips. Use it!!
Do searches for the problems you are having. You can even post questions and get them answered.
If you cannot physically do the work, I am sure there are teenagers looking for spending money for the summer.
The possibilities for do it yourself are endless!
Although, I would hire professionals for problems dealing with electricity. :-)
Good Luck!
]
More Questions: |