Q:

How do you determine the price of a mobile home?

A:

Quick Answer

When determining the price of a mobile home, a number of factors, including age, size, condition and location, come under consideration, according to American Mobile Home Sales of Florida. Additionally, every property depreciates in value every year even if it is maintained well.

Continue Reading
How do you determine the price of a mobile home?
Credit: Digital Vision DigitalVision Getty Images

Full Answer

Mobile homes get their names from the fact that they are fixed on chassis that have wheels, allowing them to move from one place to another. They are also known as manufactured homes, according to SFGate. Builders determine the price of new models, which is not as complicated as pricing a used model.

When pricing a used mobile home, it is necessary to take account of the depreciated replacement cost, as SFGate explains. This is the sum of what it takes to replace an item with the cost of depreciation subtracted.

The number of bedrooms is also important because more bedrooms raises the price. Most buyers are looking for mobile homes that offer more space, especially for their kids. A three-bedroom mobile home is considered a better deal compared to a one-bedroom home, according to SFGate. Location also has a significant bearing on price. If the home is located within a home park, its location has a negative effect on its value, according to SFGate.

The local market has the highest influence when determining the cost of a mobile home. Considering the prices of other similar homes within the region can serve as a reliable factor to use to determine the price of a mobile home, according to American Mobile Home Sales of Florida.

Learn more about Finding a Home

Related Questions

Explore