Is it financially smarter to do full gut renovation in a mobile home rather than buy it in a move in condition? If you are purchasing a home for yourself to have it as a primary residence then it makes sense to do renovations the way you like it and it would cost you less than buying a home that is in move in condition. If you are investor, you will also make some money on buying a fixer upper and renovating it but you will have many additional management responsibilities.
So why we as investors do renovations from time to time? Have you ever heard a saying “it is not always about the money”. Yes, we do work for profit and we do make some profit but one of our main reasons is what we call Green Living Priority. For example, If the house gets demolished then only steel parts will be reused but everything else is useless trash. There will be one less mobile home so a new one has to be build and more trees will be cut and used, there will be more pollution to the air and etc. The way we look at it is if the structure of the mobile home is good and stable, we renovate it and usually make it even better than it ever was by replacing paneling with sheetrock and replacing single pane window with new double windows, and replacing PVC pipes with PEX. Those are just some things that can be a huge upgrade and make a big difference when selling your home.
Everyone benefits from it. The buyer because he buys updated house for 10k or less. The park because aesthetic look of the house is renovated and makes a community as whole look better. Also, we benefit as well because we have a piece of mind knowing that we are helping to save our nature by recycling and at the same time are able to provide affordable home at affordable prices.
Any frog can become a prince if you know what to do.