Mobile Home Value Guide
The value of a mobile home can vary according to different situations. Where the home is, what it is made of, the amount of land it is on all play contributing factors to the value of the home. There are ways to calculate an overall value of your used mobile home. Does this Spark an idea?
Look at Tax Records
If you know which mobile home you are trying to value, go to your county tax office and find out what the taxes on that property were the previous year. The county can tell you how the taxes are calculated. Property taxes are in direct proportion to how much your county thinks your home is worth.
Type of Land
Is the mobile home on its own land? Homes on leased land will be worth far less than homes with their own land. The size of the lot it is on and where the home is located also play a role. If it is in an up and coming neighborhood that is growing, then it will be worth significantly more than the same home in a different area. If it is not on its own land, the rule of thumb is that it will depreciate over the years, at a rate of 5 percent.
Condition of the Home
The condition of the home plays a lot into the value of the home. If there are a lot or repairs to be made, that should be deducted from the value of the home. If a lot of home improvements have been completed, this ups the value of the home. The better the condition, the higher the value of the home.
Compare your Home
Compare the mobile home to others in the area. The same floor plan, same conditions and same area will help you judge the value of your mobile home. There are also real estate agents who can pull up prior sales to see what comparable mobile homes are selling at. You also can call in an assessor to calculare the value of your home as well.
Check the Blue Book
There is a blue book of values for mobile homes listing the base price of a mobile home. Typically, your local bank will have blue books or will be able to locate one for you. This helps give you an idea of how valuable the home is in different conditions.
Tags: value home, mobile home, value your, home different, home There, Home Value
