One of the easiest ways to determine how much your mobile home can sell for, is to look up its book value. Of course, that is an indication only, which is why you need to be aware of the 5 key factors to value mobile homes. Doing so will give you the best indication of the true value of your mobile home, which will in turn enable you to determine whether it is worth selling or not. One point to remember, however, is that mobile homes always depreciate, so it is unlikely that you will ever get more for it than today’s value.

5 Key Factors to Value Mobile Homes:

The first thing you have to do is look in the “blue book” in the NADA Manufactured Housing Appraisal Guide. You should be able to get a copy of this in your local library and find your property in it. This is exactly what buyers will do to determine whether you are quoting them a fair price or not, so beat them to it. The blue book also gives you instructions on working out the home’s retail value.

The 5 key factors to value mobile homes are:

1. The Condition of the Mobile Home

The state in which your mobile home is in, is incredibly important. This makes logical sense. The value in the blue book only gives you the average price of mobile homes like yours, meaning half of them are valued more, but the other half are valued less.

2. The Manufacturer of the Mobile Home

Just as with vehicles, there are certain manufacturers that are known to offer tremendous luxury, and others that offer simplistic budget solutions instead.

3. The Year of Manufacture of the Mobile Home

Since 1976, construction of mobile homes has been regulated by the HUD. This means that homes constructed prior to that are generally worth less, despite the fact that they may still have a lot of life left in them. Mobile homes can last as long as 75 years, after all. Furthermore, mobile homes always depreciate, mainly because they are not attached to the land on which they stand. As a result, you only pay for the man-made construction, which is something that can – and will – break down over time.

4. Geographical Location

Both the state in general and the region in particular are of importance. There is a huge difference between buying a mobile home in a small rural village in Colorado and in a retirement area in Florida, for instance. Just as with all types of real estate, location is hugely important, and it can quite literally add thousands of dollars to the price of your mobile home.

5. Extras and Amenities

Last but not least, there are all the extras that come with your mobile home. While rare, some people have purchased the land it stands on, which certainly increases its value. Other additions, such as a Florida Room (a screened porch) or a carport, are also value-adding.