I agree with the other posts regarding your idea. It’s more feasible to build new than move the houses you are considering. However, as added support to BankRobber, Russ Whitney once bought a house which was about to be condemned because the city (I don’t know which one) was about to build a parking lot. He moved it around the corner and put it on a lot which he recently purchased (I believe this was part of a larger lot with a house which he purchased and then split). Profit was substantial ($15K, I think. The example’s in his book, “Building Wealth”). Wacky, maybe, and some people probably thought he was crazy. But those same people probably still get up and go to work every day! Great job thinking outside the box. You’ll fit in well here.
What about moving houses?? Wacky or genius?? - Posted by Michael Murray
Posted by Michael Murray on January 28, 1999 at 22:27:19:
I have had a progressive thought going through my head
(bizarre maybe) and wondered if any of you have ever
tried this. I know of several areas of the country where the price of homes is double or triple the price of identical homes a mere 50 miles away. Would it be feasible and profitable to buy the cheap homes and move them to vacant lots in the high priced areas where they would suddenly be worth much more simply by being there? I am not thinking of conventional house moving where the thing is trucked intact, hiring police escorts, moving power lines, closing highways, $$$$, etc. Older houses which need remodeling anyway could be cut into manageable pieces and moved on flatbed trucks and reassembled on the new foundation, fixed up and sold for huge profits. Wacky or genius? Lay it on me, I can take it.
The other thing you have to remember is that the reason that the homes are worth so much more ‘a mere 50 miles away’ is because of the location - not the house.
So the place you would have to make money in your scenario is to get the plot below market - not the house.
Re: What about moving houses?? Wacky or genius?? - Posted by Jerry Greer
Posted by Jerry Greer on January 29, 1999 at 24:17:35:
Michael, Interesting concept. Cut a house into pieces and move it. Hmmm. Well lets explore this a little.
How and where would you cut it into pieces?
You would have to remove all drywall, disconect all electric and plumbing wherever you cut it.
Then there is the roof. I won’t even go there.
You would have to pour a new foundation and basement to include new electric, plumbing and sewer services.
I don’t know what it would cost to cut a house up and move it but I bet it would cost more than to just building one.
OK, Enough of that. Anyway Michael. You get an “A” for being creative.
Ps. Houses are allways moved as a whole unit. Unless it is a factory Modular or double wide Mh. These are designed specifically to be moved and put together onsite.
Jerry Greer
Greer Construction.
Home Enterprises.
Re: What about moving houses?? Wacky or genius?? - Posted by BankRobber
Posted by BankRobber on January 29, 1999 at 10:05:48:
Although Michael underestimated the cost of moving a house, I believe his logic is sound. There are inner city areas where you can buy houses for well below the replacement cost. Example: Purchase a 1200 SqFt house in an inner city area for 20K (replacement cost = 60k). Spend 15K to move that house 20 miles and set it up on a 25K lot. The house (w/lot) is now worth 90K (a 30K profit). Unfortunately it costs much more than 15K to move an old, nonmodular house.
Re: What about moving houses?? Wacky or genius?? - Posted by Lisa in Oz
Posted by Lisa in Oz on January 29, 1999 at 18:59:46:
Look in to the costs of moving further. I’ve been thinking about moving houses for some time. I can get “character” homes for around $25,000. That includes splitting the house in two (if it’s over a certain width), moving, civic works costs, rejoining and placing on two foot stumps. These same houses in many neighborhoods go anywhere from $180,000 to $400,000. Thanks for bringing this topic up–time for me to look into it again. : >
Re: What about moving houses?? Wacky or genius?? - Posted by phil fernandez
Posted by phil fernandez on January 29, 1999 at 07:09:09:
I agree 100% with Jerry. It will cost you more to cut up the house, move it to a new foundation and reassemble, then it would building new. How do I know. A friend of mine moved four of them a few years ago. When the dust cleared he made nothing for about one and a half years worth of work.