Q:

How do you determine the value of a mobile home?

A:

Quick Answer

To determine the value of a mobile home, start by looking up the book value for a small fee using the NADA website. Another option is to research the selling price of similar models in the region where you live. Go online or speak to local real estate agents and mobile home dealers to obtain a realistic value.

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Full Answer

To compare to a similar model, determine the size of the home in square feet using only the heated living space. Consider the number of bedrooms and bathrooms, the year of the model and the condition it is in to get an accurate idea. Compare other features, such as upgrades, flooring, air conditioning and appliances. Make adjustments as needed to calculate a comparable value.

If a rough estimate is not enough or not possible, hire an appraiser. The appraiser considers multiple factors that affect value, such as location, condition, structure or land leased, market worth and whether the home needs to be moved or not. The appraiser determines what the home is worth, not just its replacement value.

Contact a real estate agent who specializes or deals in mobile homes. An agent performs an estimation of the value compared to other models in the area and determines a sale price. Listing prices are generally higher than what the homes end up costing after negotiations. However, it is a good way to determine what the home's value could be.

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