- ⇒Any Mobile Home (with or without Land)... Any Condition
- ⇒No Pressure. No Repair. No Showings
- ⇒No Last-Minute Re-nogiations
- ⇒We’re End Buyers w/ 100% CLOSE RATE
- ⇒5-STAR RATED SERVICE 12 YEARS AND COUNTING
Manufactured / Mobile Home Value
When it comes to selling your home, owners of manufactured houses or trailers ask the same question as owners of site-built houses: what’s my mobile home value…how much will I get?
How Much is My Trailer Worth?
The factors that combine to determine a trailer’s worth include age, if it has been moved, type/size, location, current market conditions, and special features.
Let’s look at these one by one.
How Old is the Home?
This is the weightiest factor in determining the value of a trailer. Trailers—like cars and trucks– depreciate over time. This is largely because they are considered personal property, not real estate.
Depreciation may be offset if you own the land that your trailer is sitting on. If the land is increasing in value while your house depreciates, you may still come out ahead. Depreciation percentages have historically been around three or 3.5.
In 1976, HUD building codes went into effect for mobile homes. A national standard, the HUD codes override local codes. Among other things, HUD codes require mobile homes to have an attached permanent steel chassis. The code also regulates ceiling height, number of windows and exterior doors, bedroom size, and house size.
Most mobile properties built before 1976 are not compliant with the HUD code for manufactured homes, which impacts their desirability and value.
A Home Has Been Relocated
Manufactured houses that have been moved fetch less than those that haven’t been moved. (Initial delivery doesn’t count as a move.) Relocating mobile homes is risky since the chassis and structure are vulnerable to damage and to getting twisted. If they have been moved two or three times, potential buyers have a tough time getting financing. Lenders tend to keep their distance from relocated manufactured homes.
Size of the Home
A large site-built home is usually worth more than a small site-built one, and the same is true for manufactured housing.
Manufactured homes come in three standard widths: single, double, and triple. Single-wide homes range from 500-1200 square feet; double-wides from 1,000-2,000 square feet; and triple wides from 2,000 to 4,500 square feet.
The bigger your house, the more it will be worth (generally speaking).
Double- and triple-wides enjoy more demand than single-wides. This translates into higher square-foot values. If you own a double-wide or a triple-wide, you’ll be able to ask more for it (per square foot) than your friend who is selling her single-wide in the same condition, at the same location, and of the same age. She may also have to ask less per square foot than you because her buyers will have a hard time getting a mortgage. Lenders shy away from financing single-wide mobile homes.
Location of the Home
As with site-built homes, the location of your house impacts how much you can ask for it. Is it on an ocean-front lot? Is it in a region where people want to live? You’ll be able to ask more for it than if it’s located in a depressed area, a ghost town, or behind the local sewage processing plant.
Is your property located inside a mobile home park? The condition of the park will have a bearing on your asking price. As well, the amenities of the park and considerations such as lot rent and fees may impact the value of your property.
What is the Condition of the Housing Market?
If the current housing market is in a depression or in a bubble, either scenario will impact your property’s blue book value. Remember that geographical pockets (regions or states) can experience housing conditions that are different from those in neighboring regions or states. Find out what is happening in your area so that you don’t have a warped perception of your house’s value.
The first step in determining the value of your home is to work through all other variables. After that, factor in the current condition of your local housing market.
Special Features of Your Home
Amenities that may add value to your house include patios, decks, hot tubs, enclosed porches, upgraded kitchens and bathrooms, skylights, weatherproofing, energy-efficient appliances, and solar panels.
If you decide to add a feature, make sure it complies with the HUD requirements for manufactured homes. If your addition is out of compliance, it will hurt, not help, your property’s value. Your trailer must be HUD-code compliant for buyers to get standard financing.
Sell Your House Today! Call (713) 581-9075Ways to Calculate Mobile Home Values
There are a few different ways to put a solid number to the value of your home. You can pay for an appraisal online or get an in-person assessment done by a professional appraiser.
One resource for an online appraisal is the National Automobile Dealers Association (NADA), which issues pricing for vehicles, RVs, and manufactured homes. There are also free guides and worth estimators online that can help you ascertain the ballpark value of your used trailer house.
For an in-person appraisal, contact a local real estate agent with expertise in manufactured homes.
An Option: Sell to An Investor
Some trailer owners don’t want to deal with the hassle of selling their home. If this is you, consider selling to an investor such as Houston Capital Home Buyers (HCHB).
HCHB is an established and reputable investor with twelve years of experience in the real estate industry. We have $26 million of transactions under our belt and an A+ rating with the Better Business Bureau.
We offer hassle-free, fast purchases. No repairs or renovations are necessary, and the only inspection we do is one that helps us assess the home and determine its resale value. We’ll make you a fair offer, and, if you accept, close in as few as 4-7 days.
A title company handles the paperwork; everything is done in a legal and orderly manner.
As you explore the value of your mobile home value and the possibility of selling it, give us a call to learn how we can help.
- ⇒Any House… Any Condition
- ⇒No Pressure. No Repair. No Showings
- ⇒Highest Guaranteed Cash Offer
- ⇒No Last-Minute Renegotiations
- ⇒We’re End Buyers w/ 100% CLOSE RATE
- ⇒5-STAR RATED SERVICE 12 YEARS AND COUNTING
1334 Brittmoore Rd Houston, Tx 77043
