How do I Value a Mobile Home?
A mobile home is considered to be personal property even though it may be a home. Because of this fact, it does not appreciate like real estate property, but depreciates like a vehicle. There are ways to find the value of a mobile home, but it may require some tedious investigating. Unlike a residential home, the value is not determined by an assessor. It is valued by comparison and reports produced from knowledgeable resources. Mobile homes built before 1971 will involve the use of estimations and more in-depth research. Does this Spark an idea?
Other People Are Reading
Instructions
-
-
1
Go to the National Automobile Dealers Association website, which has values of vehicles, as well as boats, RVs and manufactured homes. In order to use this website, your mobile home must be built after 1971. If the home was built before 1971, you must the another method.
-
2
Click on Manufactured Homes at the top of the page and then click Get a Value. You can request an immediate report by email or receive one by fax or mail. These reports cost $20 and can be paid my credit/debit card. If you would rather pay by check, you can print the value request form and mail the form, along with your check to the provided address. To use this site you must know the year, make and model of the mobile home.
-
-
3
Use a free mobile home value calculator located at MH Village website, especially if your home was built before 1971. This calculator looks at the size, year and location of your mobile home and estimates the value of the home. Although this will not give you an exact value, it will give you a reasonable idea of what the value is. Enter your information into the calculator and press the Analyze Price button.
-
4
Contact a real estate agent to use the comparison method. Real estate agents have the resources to compare previous sales of mobile homes in your area and can compare them to your home. Instead of using a real estate agent, you can do your own search on the internet by using websites that sell used mobile homes to do your own comparison of current asking prices of homes that compare to your own.
-
1
References
Resources
- Photo Credit mobiles home 5 image by Marc Rigaud from Fotolia.com
