[USER]

I was so excited to sell my house a few years ago for a good profit, then buy a house (with land) all cash. I’m trying to keep my expenses low, because I’m a single mom & having some health issues.

The mobile home on our land is from the 70s, but fully upgraded in the 90s. There are some things that need fixing & the costs will add up.

I can’t see this as my forever house because it’s only a 2 bedroom. Should I put $ into this house or look at buying a newer mobile home?

I’ve also thought about having a contractor build the exterior & framing (of a stick built house)& I can finish the inside. But I hate to take out a loan.

If I decide to sell my property in the future, it would be cash-only because of the age of the home.

Suggestions/thoughts?…

[Nancy]

Can you build on your land then rent out the existing mobile home?

[Emily]

Definitely do not put money into it! It’s a depreciating asset on its own normally, but especially if this isn’t your forever home, I wouldn’t bother.

If you absolutely have to, only fix the things that are essential for a healthy/safe way of life while in the home.

[Charlie]

Depending on where you live depends on the value…even tho it is a mobile home.

Knoxville Tennessee mobile homes are selling for 4x the amount they are worth.

And most times that’s in a park.

[Author]

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