Should You Relocate a House to Improve its Value?
What can be done with a house that is just perfect, but it is in a bad neighborhood or a dangerous spot? Think about homes that are in decent condition; yet, too close to the water. America is experiencing flooding now that is not supposed to happen in 500 years.
That cute little beach bungalow could easily get wiped out in the next hurricane. It might be time to think about moving those homes to a safer area or higher ground.
The International Association of Structural Movers says that around 8,000 homes are moved each year in America. Relocation may be due to hazards, such as the erosion of an oceanfront or cliff side lot. Others relocate for their historical value.
What it Takes to Move a Home
There are five main considerations for moving a home, which are:
Legal Issues
Moving the home and transporting it must be allowed by law.
Strength
A home must be strong enough to stay together when disconnected from its foundation.
Lift and Transport
It must be possible to lift the home and transport it to the new location.
Access
Access to the home's new location must be unimpaired on the route to get there and on the site when the home arrives.
Cost The cost to move a home may be shockingly prohibitive.
Legal Issues
The legal issues can be very challenging. Do not give up easily if the idea of moving a home is blocked at first because it may be possible to get a one-time waiver from the regulations.
Summary
If there is a beautiful heritage home sitting on a cliff's edge overlooking the ocean and teetering on the edge of collapse, there is a new way to think about it. It may make perfect sense to move it to a lot that is down the street and further away from the edge.
If you are interested in purchasing a new home or refinancing your current property, be sure to contact a trusted mortgage advisor at Bond Street Mortgage to discuss current financing options!
Frequently Asked Questions
Someone might relocate a house if it is in a bad neighborhood, a dangerous spot, or at risk from hazards like flooding or erosion.
Approximately 8,000 homes are moved each year in America according to the International Association of Structural Movers.
The five main considerations are legal issues, the home’s structural strength, the ability to lift and transport it, access to the new location, and the cost involved.
Legal challenges can be difficult, but it may be possible to obtain a one-time waiver to overcome regulatory blocks.
Relocating makes sense if a beautiful or historic home is in danger of collapse, such as sitting on a cliff’s edge or in a flood-prone area, and can be moved to a safer nearby lot.
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