Finding your dream home can be a challenge, but what if your dream home needed… relocation? The market for houses needing to be moved might seem niche, but it offers a unique blend of affordability and potential. This guide explores the exciting (and sometimes challenging) world of buying and moving a pre-existing home.
Why Buy a Home That Needs to Be Moved?
The primary draw is often cost. Homes slated for demolition or relocation are frequently priced significantly lower than comparable properties in the same area. This is because the buyer takes on the considerable expense and logistical undertaking of moving the structure. However, this lower initial investment can be offset by the potential to save money on land acquisition in a desirable location.
What Are the Types of Homes That Need Moving?
Several types of homes might require relocation:
-
Historic Homes: Older homes, especially those in the path of development or facing demolition orders, can be salvaged and moved to a new location. This preserves architectural history and provides a unique character to the new property.
-
Modular/Manufactured Homes: These homes, being prefabricated, are often easier and cheaper to move than traditional stick-built houses. Relocation is a more common occurrence for this type of dwelling.
-
Distressed Properties: Homes in poor condition or facing foreclosure might be available at significantly reduced prices, with relocation as a viable option. However, thorough inspection is crucial to assess the extent of the required repairs and moveability.
-
Cottages and Cabins: Smaller structures like cottages or cabins, often found on larger lots slated for development, are ideal candidates for moving. Their smaller size makes relocation both easier and more affordable.
How Much Does It Cost to Move a House?
This is a complex question with no single answer. The cost depends on numerous factors, including:
-
Size and Weight of the House: Larger and heavier homes require more extensive equipment and expertise, significantly increasing the moving cost.
-
Distance of the Move: Longer distances naturally lead to higher transportation fees.
-
Site Conditions: The accessibility of the origin and destination sites plays a crucial role. Difficult terrain, narrow roads, or obstacles can add substantial expense.
-
Foundation and Utility Disconnections: The cost of disconnecting and reconnecting utilities and preparing the foundation for the move needs careful budgeting.
What Are the Legal Considerations When Moving a House?
Relocating a home involves navigating numerous legal hurdles, including:
-
Permits and Approvals: You'll likely need various permits from local authorities for moving the house, along with building permits for the new foundation and any required renovations.
-
Zoning Regulations: Ensure the house complies with zoning regulations at both the original and the new locations.
-
Title and Ownership: Clearly define ownership and liability throughout the moving process.
What Are the Steps Involved in Moving a House?
The process is involved, typically including:
-
Assessment and Appraisal: A professional assessment is needed to determine the feasibility and cost of moving.
-
Finding a New Location: Secure a suitable plot of land, bearing in mind accessibility and zoning regulations.
-
Planning and Permits: Obtain all necessary permits from the relevant authorities.
-
House Preparation: Disconnect utilities, strengthen the structure, and prepare it for transport.
-
Transportation and Relocation: Engage a specialized house moving company.
-
Foundation and Connections: Construct a new foundation and reconnect utilities.
Can I Finance the Purchase and Relocation of a House?
Financing such a unique purchase may require a more creative approach. Some lenders might be hesitant to offer a mortgage for a home needing relocation. Explore options like:
-
Construction Loans: These can cover both the purchase price and the moving and renovation expenses.
-
Home Equity Loans: If you already own a property, you might use its equity to finance the move.
-
Private Lending: Consider private lenders or investors who are familiar with these types of projects.
This venture presents a unique opportunity to acquire a property at a potentially significantly lower cost than comparable properties, but meticulous planning, research and expert advice are crucial. Carefully weigh the risks and rewards before embarking on this exciting, yet challenging undertaking.
