Value of fixing up a mobile home on 21 acres
My wife and I own 21 acres in the country outside of Austin and it has a mobile home on it. The place is currently unlivable, but (with some work) could be brought back to life. It is not dead, but also not usable. I am trying to figure out where the best value lies. Should we fix up the place or raze it?
The plan was to move onto that property, but we might be better off liquidating it into more flexible assets. Doing so as the land stands right now would lose us money. However, my thought is that I can at least get the price of repairs plus enough to cover realtor fees if we renovate.
Thanks.