Is it worth it to fix up a trailer home?

Question

I have just entered into a rent to own agreement on a 1970's trailer home. For my own personal comfort, I wish to do some updating, but is it worth it to go really nice, or should I just make it livable? I'm not sure what kind of resale value a trailer home of that age will have or what kind of things I can do with it. Is it worth putting much money into it or should I simply put on a few coats of paint?

Answer 1

It depends on what you really want, and how long you expect to be living there. If you expect to be there a number of years, you can spend a few dollars more to get it into the condition you'd like.

Trailer homes depreciate like cars. They drop off sharply in the first few years, then level off. Frankly, a 1970s trailer home isn't likely to lose any more value. That's not saying you'll get a 100% return or more from any improvements you put in. But at this point you won't be pumping money into a declining asset.

Don't over-improve it. But make it comfortable for you. And the longer you think you'll be there, the more you can put into it.

Hope that helps.

Answer 2

Trailers are more like refrigerators than houses.  They go down in value every year.  THey can also be wonderful places to live.  Fix it up and buy it.

Answer 3

me and hubby fixed up a 1979 model before and it was not worth it. every time you start to fix some thing  another thing breaks.