Determining Mobile Home Value
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Condition of the Home
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Evaluate the overall condition of the home. Mobile values are commonly measured on a scale of poor, fair, good or excellent. A mobile home in excellent condition will be free of damages, defects--generally in like-new condition, as if it were just driven off a lot. A home in good or fair condition may have a few dings but otherwise be in good condition (visually and mechanically). A mobile home that's in poor condition looks bad on the outside and has mechanical problems that would cause you to value it at the lowest end of the spectrum. If the mobile home has any special features such as an extra bathroom, new kitchen appliances, plush carpeting or other features, the appraised value of the mobile home will be higher.
Recent Sales of Comparable Mobile Homes
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One of the best ways to determine the value of a mobile home is to look at what similar mobile homes are selling for or have sold for in the area. You can do this by doing a search on eBay.com, MHVillage.com, HomeGain.com or MHBO (for sale by owner site). eBay has a feature that allows you to look at recent mobile home sales (see link below under "Resources"). Select "Show Only" and then "Completed Listings" under the search options.
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Square Footage
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The value of the mobile home is determined largely based on the square footage. The more spacious the living area, the higher the price. While the additional units may add value to the mobile home, you should also consider that the wider the home, the more difficult it will be to transport. Single trailers sell quicker. So a double-or triple-wide home could be worth less than you would first believe as compared to single trailers.
Perceived Value of the Buyer
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When determining the value of a mobile home, home guides, blue books and appraisals can only give you a general idea. The true market value of the mobile home is mostly dependent on the perceived value by the potential buyer and market conditions. For instance, a mobile home will be harder to sell in an area where there aren't many trailer parks. Also, you might have a buyer who is looking for a specific type of mobile home that you own. This buyer may be willing to pay more for the home.
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