The house I am living in is owned by my parents and I have life lease of it. It was built in 1950 by family who really didn't know what they were doing, it is "the house that Jack built". I think that the house should be torn down and replaced with a modular. I have rough plans drawn up for a modular. The problem is convincing my parents that it would be better to replace the house rather that add on and fix all the problems. I would love to take out a loan and do the work myself, however because they own the house and property, I don't think I can do this. Any suggestions?
Is this home located out in the country? Do you have much land? What are the houses in the area like?
At times you can certainly be better off tearing down and starting over but if the neighborhood is similar I wouldn't want to be the first to do it. Out in the country with land you have more options.
A well built modular on a foundation will appreciate like a stick-built house. A double-wide mobile home will depreciate in time. A double-wide will provide many years of shelter but it won't increase in value like a house... well except for the past 6 years.
General Disclaimer
Any advice given here is general in nature and is not necessarily valid for your given area. If in doubt check with your local codes enforcement department for what is required when doing electrical, plumbing or structural work on your house. Permits may or may not be required in your area and home owners may not be able to DIY some tasks. I have no way of knowing if you have the skills needed to complete the tasks you are asking about, when in doubt seek professional assistance.
My advice may be worth exactly what you pay me for it. :-) For the record I did not stay in a Holiday Inn Express last night.
