What’s My Mobile Home Worth?
The mobile home resale market has expanded greatly over the past few years. Because of this, many mobile home owners are more interested than ever in selling their homes. But, to do so, one must first determine their home’s worth.
In this article, we’ll go over how to find your mobile home worth, as well as secure a mobile home appraisal.
There are many factors that can impact how much your mobile home is worth. Here are some of the most important ones:
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.
Your home will also be worth more if it was built after June 15, 1976. That’s the date the HUD Code went into effect. The HUD Code regulates safety practices that go into all manufactured homes built since that date. This helps ensure that modern manufactured homes meet a quality and safety standard to prolong their lifespan.
This is also a simple one. Larger manufactured homes will typically carry more value.
A mobile home with more bedrooms, bathrooms, and more space in those rooms will carry more value.
You can see this for yourself if you browse MHVillage, the nation’s leading platform for buying, selling, and renting manufactured homes. Homes that have more bedrooms in your area will likely have a higher asking price.
This is where things can start to get tricky.
When it comes to your mobile home value, the materials that go into building your home can have a great impact.
Are your countertops made of a premium material, like quartz? Do you have energy-efficient windows installed? Have you upgraded your lighting recently?
If you answered yes to any of these questions, then they may help increase your mobile home’s value.
If you’ve recently upgraded your mobile home siding or have a patio or deck, those may add to your mobile home’s value, too.
Or, if you added a carport or garage to your home, that will also increase your home’s value. Most additions made to the home after it was delivered from the factory will do so.
These days, new home appliances are loaded with smart technology. And, they’ve come a long way in energy efficiency, too.
If your home has more modern appliances, such as a refrigerator, smart thermostat, or a smart oven, they may increase the value of your mobile home. Stainless steel appliances are also high in demand.
A well-maintained mobile home can fetch a higher price. Have you kept up with your roof repairs, or recently upgraded your skirting?
A home that needs significant repairs may not be worth as much as a home that’s been well-maintained.
Of course, selling your manufactured home is all about location, location, location.
The value of your manufactured home may depend on which state you live in. For example, mobile home prices in California are generally higher than those in the Midwest.
You may also get a higher price for your mobile home if you live in a hot market, such as a nearby downtown hub.
Determining Your Mobile Home Value
Now that we’ve gone over what factors impact the value of a mobile home, let’s talk about how to find your mobile home value.
The most reliable way to do so is through a mobile home appraisal. This is a highly relied-upon, professionally sourced estimation of your mobile home’s worth.
An appraisal takes into account all of the above factors that affect mobile home value. And, it also looks at fair market value to ensure your mobile home is priced similarly to homes like yours in the area.
When it comes to a mobile home appraisal, no other source is more trusted than Datacomp. With Datacomp, you can get a mobile home appraisal on both new and pre-owned homes.
Datacomp is the leading provider of manufactured and mobile home appraisals, making sure you have confidence in your mobile home’s value.
With Datacomp, you can also order a book value report. A book value report uses a cost-based approach. This finds the retail value of your home compared to when it was built. A book value report from Datacomp is another great way to find your mobile home’s worth when you’re getting ready to sell your mobile home.