Manufactured homes are one of the most convenient and affordable housing choices available to us. These homes are self-sufficient, eco-friendly, faster to build and a lot cheaper than conventional site-built homes. However, many people wonder if they will be able to buy a manufactured home and resell it for a profit without doing any repairs on it.
The short answer to this question is “yes” but if you are ready to do some or all of the repairs, then there are more chances for you to earn profit while selling the manufactured housing structure. If you are willing to make the repairs, then here are a few tips, which will help you add more value to the newly purchased manufactured home.
Let us assume that you have purchased an older manufactured home, which is in need of repairs. Performing the repairs on this home will help you to put up a higher retail price on the house once you finish the repairs. You could also repaint the house and make improvements, as it will also help to raise the value of your manufactured home.
Move Your Home to a More Desirable Location
If the cost of moving your manufactured home to another location fits in your budget, then do not hesitate to move your manufactured home. This is because moving your manufactured home to a neighborhood that is filled with manufactured homes will help to boost the value of your home.
Add More Homes to the Land
If your manufactured home is located on your land, then adding other manufactured homes to this piece of land will significantly increase the value of your manufactured home. However, you will have to make sure that the land has enough space to accommodate more homes.
Sell Via Payments
Banks and lending institutions may refuse to finance some homebuyers who are looking to buy manufactured homes as they might be looking to buy the homes through monthly payments. Selling your home for monthly payments will attract more buyers to your home and it might help you to acquire a better deal.
Find and Purchase Mobile Home below Retail Price
If you keep a close eye on the housing market, you might be able to buy a manufactured home for a cheap price. Make a few investments to improve the look of the house and do a few repairs. This will help you earn a big profit when you are selling the manufactured housing structure.