Manufactured homes have various factors that impact their value. The land on which the home is located is often more valuable than the home itself. As land is limited, it tends to gain value over time, while homes depreciate as they age and require updates and repairs. This applies to all types of homes, including manufactured homes.
The condition, size, and layout of the home are also important factors that determine its worth. A well-maintained and visually appealing manufactured home can command a higher price. Minor repairs and a fresh coat of paint can improve the home’s condition and increase its value.
To find out the value of a manufactured home, one can look at the property tax statement to see the appraiser’s value of the property. Researching neighborhood listings and checking the county recorder’s office can also provide information on how much a property sold for. While these are good starting points to researching the potential value of the home, there are several other factors that will affect its value.
If you are looking to sell just the home without the land, there are a few methods used to calculate the value of manufactured homes. The first method is an appraisal, which considers various sources of information and is calculated by a person. The second method is the book value, which estimates the value of the home. It is calculated using an algorithm that factors in the make and model of the home, its size, upgrades, and age. Book values are computer-generated using large databases that track data on manufactured homes. The third value is a wholesale cash value. This involves a third party evaluating your home and giving you a value, they would pay in cash to purchase your home. If the home is to be moved, the business that makes this cash offer, in most cases, has accounted for the costs to move the home. However, this is something you will want to clarify to ensure you are not surprised by anything. If you are selling your home, including the land, it would be best to get a realtor involved to help you determine values in your specific marketplace.
Mobile Home Purchasers serves the upper Midwest and specializes in purchasing mobile homes. We have years of experience and are happy to help you navigate your manufactured home value research. You can email Mobile Home Purchasers at chriss@mobilehomepurchasers.com or travisb@mhpurchasers.com.