I have a chance to buy a mobile home in a retirement community in FLori-duh at a reasonable price. However, it was built in 1985. The A/C is 16 years old, and there are a few items that need repair, like the windows and screens. The plumbing is plastic as I discovered when I put in a new water heater. Would you buy or pass on unit this old??? It has had minimum upkeep.

Lots of unknowns. That being said, check about insuring it before you go any further. You'll probably only be able to get an actual cash value policy for the structure itself. I've seen some of these as low as $20k on older mobile homes. So if it goes up in flames or is a victim to a hurricane, your policy hits its limits and that's all you get. If it's repairable in the event of a claim, EVERYTHING is depreciated heavily. Repairs may be $40k to bring it back to whole, but if your limits are say $25k, it will be totaled out unless you have the cash for the remaining amount to complete the repairs.

Why are you considering purchasing? To use, live in, re-sell, investment. It would heavily depend on what you plan to do with it and how little you could get it for compared to market value imho.

I am looking in a particular area (not Florida) and would consider buying one of that era. But it would include real estate (real property). Not one in a park.

Just looking for a snowbird getaway. 2-3 months a year. They want $100k for it. I’ve already done plenty of repairs on it my self. It belongs to a shirt tail relative.

we bought the same, a 2nd home to save on hotel/car rental to be nearer the kids/grand kids.

in an established senior community, a beautiful area with great views for mid '60's.

Unless it comes with some property in a great location, I don't think I could see spending 100k on a 35 year old trailer. Especially one that you admit hasn't been kept up and likely will need a decent bit of work in the coming year or so.

Comes with an acre near the beach or something - sure, why not... In a trailer park or a long ways from the ocean - nope.

Look at condotels. You can be on the beach for $50k and maintenance fee lower than the lot rent probably. I've been looking. Sorry but I just re-read your post. At $100k I assume you are getting real estate. I guess for comparison I would look in whatever area it is and see what else I could get for $100k. If there's real estate involved then it's location location location.

Presume you mean that it's a mobile home on real estate for that price.

What do the comps in the area go for, check Zillow and see if anything has sold recently,

Best way you'll know about values to price asked

Im a FL real estate attorney,
would have to know location, but it seems you are pushing towards the stupid high range for most places at that age.

feel free to reach out to me at my email in profile

pass


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Mobile homes are not investments. They depreciate like cars do. If there was an actual house on the property then that would change things. If you still want to consider moving forward because you like the property, I would do your research on what the true value of the land is and consider the trailer worth zero.

That's a lot if it does not come with land. Good luck getting insurance for it and you will need it if you are financing it. I would run away from one that old.

Pass. Wait till you see how much the homeowners insurance will be. Florida has been damn lucky this year with storms.

My brother lived in a mobile home community from November to April every year for 20 years or so. Leased the unit and had the same one every year so a lot of things just stayed in it as it was not leased out in the other months. It was in Haines City, FL as I recall.

It's not unheard of around this area for single-wides in that age range to be given away if paid for just to avoid the cost of moving it when moving on. If it is on some land, I'd value the land and utilities already in place primarily.

Don’t forget the lot rent which can be $800-$1200 a MONTH in certain parts of Florida!!

quote:

Originally posted by greco:
Just looking for a snowbird getaway. 2-3 months a year. They want $100k for it. I’ve already done plenty of repairs on it my self. It belongs to a shirt tail relative.

I'd PASS. Buy yourself a condo for that price or not much more...... The mobile home is worth $10k for all intensive purposes, so the question really is, what is the lot worth?

This message has been edited. Last edited by: jimmy123x,

Hire an appraiser for $400.00, who will put in writing gas,elec, insul, foundation asbestos, sewer, bugs, mold and more.

Get in writing from the park about expenses, and h.o.a.

Pass

Living here in Florida and working at Florida Power and Light Co for 25yrs, I can tell you from many a road trip on storm duty, many unfortunate folks suffered a lot of damage in mobile homes. Living in a cardboard box would have been comparable. You definitely should have an evacuation plan if you purchase one in Florida and are threatened by a good hurricane.

And as other's mentioned your homeowners insurance may be high.

A remainder of one such Mobile Home Parks just south of me after Hurricane Andrew in 92'.