Find Mobile Home Values
Mobile homes, also called manufactured homes, are built at a factory and transported via truck to the home site, which may be on rented or purchased land. "New home values can range from the $15,000 to $20,000 area to $250,000 and up," according to the National Automobile Dealer's Association (N.A.D.A.) Manufactured Housing Appraisal Guide. This "Blue Book" values mobile homes based on age, manufacturer, and model.
Additional factors that influence values include current market conditions and the home's condition, size, location and features. Some "parks" offer used homes free, with costs of maintenance, repairs and lot rent to be assumed by the new owner. Does this Spark an idea?
Instructions
1. Note the manufacturer, model, and year of the mobile home. Locate a N.A.D.A. Manufactured Home "Blue Book" at your local library and look up the home's value.
You can also ask a bank, manufactured home dealership or NADA.com to look up the information for you; they may charge a fee.
NADAguides.com sells manufactured home retail value reports and cost guides.
2. Research the manufactured home market in your area of interest to avoid overspending or underpricing the home. Consider spending $20 to obtain a market analysis report.
Find how many comparable homes are for sale in the area and how they are priced. Consider whether construction or development scheduled in the area may affect the home's future value. Reports from the local police department can provide information on neighborhood safety and the quality of the schools, both of which affect the value of home.
3. Check with the state's Manufactured Home Association and the Better Business Bureau to find credible professional appraisers, manufacturers, realtors, dealers, retailers, and developers to help you value the mobile home.
4. Have a professional appraisal done by an expert familiar with manufactured homes before buying or sellng. The appraiser takes into account the area the home is in, current market conditions, and the home's actual condition.
5. Consider other factors that affect mobile home value and cost:
Is the home new or used? Are you moving the home? New and moved homes require a foundation, transport, leveling, and utility hookups. Used homes may have expired warrantees and require investment for maintenance or improvement.
Are you renting or purchasing the lot? Factor in land or lot rental costs, property tax, insurance, maintenance and utilities.
What features and amenities does the home or location possess? Fireplaces, multiple bedrooms and bathrooms, swimming pools, club houses, on and off-street parking all impact mobile home value.
What type of warranty does the home have? What is covered and for how long?
What additions or alterations will the home require? These may include decks, porches, landscaping, stairs, awnings or wheelchair ramps.
Tags: home value, mobile home, Blue Book, conditions home, current market
