I recently purchased an old 1973 single 14' wide mobile home with addition in a small town in northern Alberta. I would like to renovate the existing structure, tear down the existing leaky addition, and add on with a properly built one. I just purchased the Manufactured Home Additions & Roofed Decks guide by L.J. Wright, which looks to offer excellent advice and info to assist in doing the work yourself.
I am trying to decide if I should simply add a new addition with small decks front and back or plan for a major reno where I would locate the existing mobile home on a concrete foundation together with a new addition that is also 14' wide and a peaked roof to cover both, essentially turning the structure into what would appear as a house. By doing this I would turn it from a narrow structure two bedroom one bath unit, into a three bedroom & den, two bath with decent living room space for guests, etc... If I decided upon this plan, then I would likely shorten the entire structure from about 64' to around 52'. I am currently renovating the inside making the exterior walls an equivalent of 6" thick and placing in R20 insulation. I also own the lot I'm on and don't plan to stay here long as I would like to purchase acreage, and use it as a stepping stone.
I realize that they're are plenty of factors to consider such as: 1) future housing market which looks promising at the moment with a mega project proposed 2) soil conditions (there is plenty of clay and silt in the region. The concrete pilings my mobile sits on go down 12 feet I believe. A person across the street built a house around his mobile home. Inspector told him he would need a concrete foundation and go below the frost line (4 feet down) 3) Finding a buyer with cash or equity as I am aware of the difficulty that can be had with mortgage coverage on mobile homes that may not cover the real value after extensive renovations have been done 4) There is no serial # for this unit which could be a bit of a stumbling block as well. My real estate agent mentioned there is a way around this. 5) the amount of time and labor required to complete the project, although I would be doing almost all of the work myself, including digging out for the foundation.
I also realize that others have suggested in not spending too much on mobile homes, unless you plan to live in them. Money is better spent on a house. On the upside, the mobile would be like a house when finished, with a value between a single wide and rancher. It would be an affordable unit for someone looking for a good sized rancher, but at a lower price. Another plus is that everything is paid for and I have no mortgage, a real plus, and that I can live in it while renovating.
Has anyone else gone through a similar process and if so would you recommend it? Any comments would be much appreciated.
Addition vs major renovation?
Moderators: Greg, Mark, mhrAJ333, JD
Hi,
I understand all of what you are saying and I guess the final answer is yours. BUT, here in the states once a MH always a MH regardless if it is on a foundation with or without additions. The value will be based upon that.
It's kind of confusing when they say if you put it on a foundation it becomes real property. Well they tax you as real property but, but financing, line of equity and length and terms of mortgage are all based as a MH.
Not really sure what your rules are up there in Canada. You might want to check with your banks etc...not sure I would follow all advice given from a real estate agent.
Personally if it was me I think I would do the necessary repairs/upgrades, add a few decks and save my hard earned money and put it towards the home I want to build.
What you are proposing is an expensive endeavor and may not give you back your investment.
JMO,
Yanita
I understand all of what you are saying and I guess the final answer is yours. BUT, here in the states once a MH always a MH regardless if it is on a foundation with or without additions. The value will be based upon that.
It's kind of confusing when they say if you put it on a foundation it becomes real property. Well they tax you as real property but, but financing, line of equity and length and terms of mortgage are all based as a MH.
Not really sure what your rules are up there in Canada. You might want to check with your banks etc...not sure I would follow all advice given from a real estate agent.
Personally if it was me I think I would do the necessary repairs/upgrades, add a few decks and save my hard earned money and put it towards the home I want to build.
What you are proposing is an expensive endeavor and may not give you back your investment.
JMO,
Yanita
The difference between success and failure is who gives up first!
Thanks for responding Yanita,
I believe that the same laws apply up here in Canada as well. Once a MH always a MH. I guess I would need to talk to loans officers at a bank to determine what value a MH would have after doing extensive renovations. As I mentioned, I would require a purchaser that could cover the difference between the selling price and the price the bank would be willing to lend. This would likely result in a lower overall selling price and perhaps not worthwhile? Taxes here are not really an issue as they are very low.
On the one hand, I agree with what you suggest and not spend too much effort on this place, focusing instead on the home I want to build. On the other hand, a lot of sweat equity (and time) could provide significant monetary gain towards that goal. Many of us spend decades paying off huge mortgages, and this is one area I could benefit, if able to do so without. Material cost won't be as large as the sweat equity and time put in.
I was wondering if anyone could relate to the technical aspects of a project like this. I realize that trying to put in a foundation under an existing building is not going to be as easy as making a fresh start. And then there is the difficulty in leveling the entire foundation under the old structure and for the new.
Maybe I should just stick with a standard mobile home addition, add a couple of decks front and rear, and complete the interior renovations.
Don
I believe that the same laws apply up here in Canada as well. Once a MH always a MH. I guess I would need to talk to loans officers at a bank to determine what value a MH would have after doing extensive renovations. As I mentioned, I would require a purchaser that could cover the difference between the selling price and the price the bank would be willing to lend. This would likely result in a lower overall selling price and perhaps not worthwhile? Taxes here are not really an issue as they are very low.
On the one hand, I agree with what you suggest and not spend too much effort on this place, focusing instead on the home I want to build. On the other hand, a lot of sweat equity (and time) could provide significant monetary gain towards that goal. Many of us spend decades paying off huge mortgages, and this is one area I could benefit, if able to do so without. Material cost won't be as large as the sweat equity and time put in.
I was wondering if anyone could relate to the technical aspects of a project like this. I realize that trying to put in a foundation under an existing building is not going to be as easy as making a fresh start. And then there is the difficulty in leveling the entire foundation under the old structure and for the new.
Maybe I should just stick with a standard mobile home addition, add a couple of decks front and rear, and complete the interior renovations.
Don
Good morning Don,
It is possible that some of your projects will require an engineers report. Then you have to deal with your local codes office, especially if this is going on the market after completion.
I did notice that the home is pre hud, that within itself will cause fiance issues.
Now, if you want to put in an entire foundation that goes under your existing home and to include additions, I am thinking that the home would need to be removed and the foundation poured all as one unit.
Hopefully some of the guys here will jump in and give you the definitive answers you are asking.
Yanita
It is possible that some of your projects will require an engineers report. Then you have to deal with your local codes office, especially if this is going on the market after completion.
I did notice that the home is pre hud, that within itself will cause fiance issues.
Now, if you want to put in an entire foundation that goes under your existing home and to include additions, I am thinking that the home would need to be removed and the foundation poured all as one unit.
Hopefully some of the guys here will jump in and give you the definitive answers you are asking.
Yanita
The difference between success and failure is who gives up first!
Your question really is in regards to real estate values not specifically mobile homes.
Keep it simple or you will not get anywhere near your investment back. As an example the basement may make the home easier to sell but may not increase it's value to cover costs.
Talk to a good real estate agent they will have the best idea of after repair value.
Every market has a ceiling regardless of what work you do and much of the work you are talking about may not even return 50 cents on the dollar.
Sweat equity is nice but it is important that you put your sweat into the right equity.
Just because you can does not necessarily make it a good idea so unless you are experienced it the area of real estate get qualified advice first.
Keep it simple or you will not get anywhere near your investment back. As an example the basement may make the home easier to sell but may not increase it's value to cover costs.
Talk to a good real estate agent they will have the best idea of after repair value.
Every market has a ceiling regardless of what work you do and much of the work you are talking about may not even return 50 cents on the dollar.
Sweat equity is nice but it is important that you put your sweat into the right equity.
Just because you can does not necessarily make it a good idea so unless you are experienced it the area of real estate get qualified advice first.
Good morning Yanita,
I was expecting to deal with my local codes office. In fact they could help steer me in the right direction regarding any issues encountered. I was not aware of an engineers report. Would this relate to soil stability on the site?
I know that there's plenty of silts and clays that make up the soil here in this entire region of northern Alberta and northeastern BC. Leftovers from the vast glaciers that once swept across the land here. I also know that there is water present down about 2 feet or so. This I found after putting in fence posts last spring. It could be residual water after the snow melt however? Houses with foundations have been put in all around mine, but am aware that my individual site could be wetter possibly?
I was thinking that the foundation could be put in without moving the MH at all. Once you dig down (by hand), I believe there would be enough room to work. And then a cripple wall could be put in after. The MH may have to be raised half an inch or so to accomplish this. I also think it's possible to pour the foundation as 2 separate pours, providing you have sufficient rebar joining the two. I would pour the foundation for the mobile first, place it, and then proceed with the addition. Once the foundation is in, then its basically standard construction used to build the addition, other than dealing with the center support (ie between MH and addition using either posts and beam or foundation wall)
I don't know what you mean by my home being pre hud? I am not sure if we have that here in Canada? I do know that I would be reinforcing the existing MH and would not be the same when complete.
But I'm starting to think the whole project is not worth doing. I may look at just putting in a more traditional MH addition instead. Still haven't fully decided? Thanks again for responding Yanita!
Don
I was expecting to deal with my local codes office. In fact they could help steer me in the right direction regarding any issues encountered. I was not aware of an engineers report. Would this relate to soil stability on the site?
I know that there's plenty of silts and clays that make up the soil here in this entire region of northern Alberta and northeastern BC. Leftovers from the vast glaciers that once swept across the land here. I also know that there is water present down about 2 feet or so. This I found after putting in fence posts last spring. It could be residual water after the snow melt however? Houses with foundations have been put in all around mine, but am aware that my individual site could be wetter possibly?
I was thinking that the foundation could be put in without moving the MH at all. Once you dig down (by hand), I believe there would be enough room to work. And then a cripple wall could be put in after. The MH may have to be raised half an inch or so to accomplish this. I also think it's possible to pour the foundation as 2 separate pours, providing you have sufficient rebar joining the two. I would pour the foundation for the mobile first, place it, and then proceed with the addition. Once the foundation is in, then its basically standard construction used to build the addition, other than dealing with the center support (ie between MH and addition using either posts and beam or foundation wall)
I don't know what you mean by my home being pre hud? I am not sure if we have that here in Canada? I do know that I would be reinforcing the existing MH and would not be the same when complete.
But I'm starting to think the whole project is not worth doing. I may look at just putting in a more traditional MH addition instead. Still haven't fully decided? Thanks again for responding Yanita!
Don
Greg S,
Thanks for the feedback! I have talked with a local real estate agent. He says it is worth doing providing you do the work yourself. There are plenty of older houses (small shacks really) in this town that have been renovated. Many of these homes are going for a long dollar considering what you are getting. Many of these places are about 1000 sq ft. My place, if done right, would be larger (about 1500 sq ft) and would be like new. Of course I would not expect to compete with equivalent ranchers.
But there is all that work and time and technical challenges required to complete this. This has me thinking it may not be worthwhile.
Don
Thanks for the feedback! I have talked with a local real estate agent. He says it is worth doing providing you do the work yourself. There are plenty of older houses (small shacks really) in this town that have been renovated. Many of these homes are going for a long dollar considering what you are getting. Many of these places are about 1000 sq ft. My place, if done right, would be larger (about 1500 sq ft) and would be like new. Of course I would not expect to compete with equivalent ranchers.
But there is all that work and time and technical challenges required to complete this. This has me thinking it may not be worthwhile.
Don
-
- Similar Topics
- Replies
- Views
- Last post
-
- 3 Replies
- 2116 Views
-
Last post by Greg
Sun Dec 02, 2018 5:06 pm