How to Calculate the Value of a Mobile Home
A mobile home is a portable structure capable of supporting a small living arrangement. The value of a mobile home may be calculated using various methods depending on the situation in which the home is used. The value of the home is important for business and tax purposes, as well as when the owner decides to sell or transfer the home's ownership.
Other People Are Reading
Instructions
-
-
1
Obtain the name, make and model of the mobile home. This information is noted on any ownership documents or lease agreements for the home. Then, look up the mobile home's model number in the NADA Manufactured Housing Appraisal Guide, available at your local bookstore or from a local mobile home retailer. The price listed will be the approximate value of the mobile home if sold new. Subtract 5% of the new listed value for each year that you have owned the mobile home in order to take into account the average devaluation of a home.
-
2
Consult your tax documents. The majority of mobile home owners are required to submit property tax payments. The value of the home will fluctuate depending on its make and model, year of release, and geographic location. The home value listed on your property tax documents will give you a general idea of the value of the home as it is presently situated.
-
-
3
Assess the value of your geographic location. After all, the value of the mobile home can depend on whether or not you are leasing or own the land on which the home currently sits. Mobile homes that are established on land are valued at a higher rate than those which are not. Such established homes are typically affected by the value of the homes around them.
-
4
Consider construction costs when configuring your home's value. If you have remodeled it or added new features, such as bathrooms and kitchen cabinets, the value of your home is likely to be much higher. The home values that you discovered in Step 1 are only for standard, factory-default mobile homes. Remodeling portions of your home may have increased its value.
-
1
Tips & Warnings
Consider having a professional home appraiser inspect your home and calculate its value in order to save time and effort on your part.
