Question about mobile home values

**Jeremy_K** · 06-09-2009, 03:59 PM

Hello, We purchased a double wide mobile home which is on concrete slab and has a large 2 car garage attached. It sits on 4 acres in a small town which is mostly old Victorian 2 and 3 level homes on small lots. When it was appraised they told me that they had to go out a 20 mile radius to find other homes of this nature. Our double wide costs about the same as the Victorians in town are going for. My question is: Is it worth our while doing upgrades such as the kitchen and bathrooms to increase the value? This is our first home so we are in the learning phase. I'm quite handy and my wife makes the gardens and lawn more beautiful than it ever was. I just don't want to put a lot of money in renovations if it will not add any value to the home. Any help would be greatly appreciated. Thank You
-Jeremy

**Greg** · 06-10-2009, 06:15 AM

Generally, mobile homes lose value over the years. But not all improvements are made to increase value. If you are planning on staying there for a long time and the improvements will make your life more enjoyable then go ahead and do them.

But don't count on the improvements increasing the value of your property. There are a lot of factors involved in value. If your land can be subdivided, then it is possible the highest and best use would be to get rid of the trailer and sell the land off as lots.

**REITrainingWhse** · 06-10-2009, 06:31 AM

I couldn't have said it better than that... If you are the ONLY mobile home in the area of Victorians... You might want to decide that the improvements are for you, and when you decide to sell, maybe looking into rezoning and/or subdivision would cause your value to increase greater than what any improvement would.

Later!