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Hopefully, this helps equip you with the information needed for understanding the different markets assessing mobile home values. There are also professionals that can help you to figure out how much your home is worth. US Mobile Home Pros is committed to giving you the best resources so that you can make an informed decision. Marketing – If you are selling the home yourself, you will have to pay for marketing out of pocket. While there are free and low-cost marketing resources, you should factor marketing in as a cost. Kitchen cabinets, islands, and counters are all fixed features in a house.
You keep all the profit, and you get the maximum sale price for the home. Take a look at what other mobile homes in the area are actually selling for. Don’t take in to account the ones that are listed, focus on the ones that have actually sold recently. The mobile homes need to be comparable in year build, size, and condition. Is your mobile home a single wide, double wide or a triple wide?
thoughts on “How Much is Your Mobile Home Worth? How to Value Your Manufactured Home”
Simply enter your street address, city, and state or just your ZIP code and we’ll calculate our best home value estimate using millions of home records in our database. Find a reputable appraiser near you by searching online or reaching out to a local Realtor for recommendations. There are two different methods for discovering the value of your mobile home, appraisal or book value. Answer them as completely and honestly as you can.The appraiser also needs space to perform the appraisal, so don’t hover.
A more attractive appearance will probably increase the value of your manufactured home. Just like other types of property, the cost of the property is partly based on the square foot of your home as well as the number of rooms it has. In general, people also often prefer bigger houses and therefore these houses will often be valued more because of their size.
Factors that Influence a Mobile Home’s Value
Make sure the home has tie downs that connect the home to the ground. These will be necessary to get loan funding to pay for the property. Other features, such as granite countertops, hardwood floors, garages, etc. Complete a short Q&A form, providing us with some details of your home.
While you can easily observe some aspects, you can also use the NADA’s guidelines for finding out the value of your mobile home. After considering all of the above, a seller will need to look at what other homes in the same park, or general area, has sold for. Since the inception of the HUD code in 1976, mobile homes have come a long way. It’s estimated that around 20% of the U.S. population lives in mobile home parks. The final factor is that it’s almost impossible to finance a single-wide, especially with a mortgage.
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And from applying for a loan to managing your mortgage, Chase MyHome has everything you need. Whether you’re buying or selling, a home value estimate gives you insight into what you could gain financially and helps you form a strategy for moving forward. While a book value is a great starting point, your home, community, and market will be unique in some way.
This is one of the more obvious factors that will impact your mobile home’s worth. Generally, the newer your mobile home is, the more value it will have. Now that you know how much your mobile home is worth, check out one of our local Texas offices’.
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In short, this means that whoever is buying your home has to buy into the mobile home park as well. If you live in a park with excellent management that keeps the grounds well-tended and sorts out any issues quickly it’s obviously a huge plus. If your home is located inside a mobile home park that will also have a bearing on its price.
Market Demand – If you’re in an area with a high volume of mobile homes on the market, you have a much smaller chance of getting your asking price if it’s higher than others in the area. On the other hand, if there are only a few other sellers, your chances of getting your asking price are much higher. Performing the necessary due diligence will limit the chances of under pricing your home.
Aside from the legality of moving the home, this cost can be significant even if only moving the home somewhere else in the general area. The takeaway here is that the lot rent is going to undoubtedly contribute to how much you can get for your home. In the last example, we would have been able to sell the home for $30,000 if the home was either in a park where the lot rent is more affordable or if the home was in a more desirable park. So, this begs the question, how do I determine the value of my home? In the article below, we address several factors that you should consider when determining how much your home is worth and how much you should list it for. These are smaller individual factors, but the decency of the mobile home park has a HUGE impact on its appeal, and therefore, its value.
If your mobile home is in a remote, quiet spot, it may garnish more buyers’ appeal than loud and busy locations. Mobile homes located in relatively safe neighborhoods may be more valuable to buyers than less stable places. Initially, people use the Kelley Blue Book as a price guide for automobiles.
While their numbers can oftentimes be lower than market value, it can give you a good jumping off point. Just like with anything you try to sell, the better the condition it’s in, the more money it’s worth. Walls with chipping paint, dinged-up doors, and stained carpet can all affect your home’s worth. Even making simple repairs and giving the walls fresh paint can increase the value. And just like with single-family homes and other real estate, the condition of your neighborhood and your neighbors’ homes also affect your mobile home’s worth.
An appraisal takes into account all kinds of information from various sources and is typically calculated by a person. The market analysis compares your home to others in the general market and allows you to see how much they sold for. Research your neighborhood’s listings, especially notating listings closest to your home.
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