The value of any home, whether conventionally built in a sub-division or a twenty year old mobile home in a registered over 55-year-old park, will depend on the market conditions.
Real estate prices can be volatile and depend on many factors including the economy, inflation supply and demand. More importantly, the price will depend on what a person is prepared to pay for the home.
In this article, we will take a look at how much your mobile home is worth based on its age and condition.
Factors that will affect the price:
- How old is your mobile home
- Double wide or single wide?
- What Are Its Dimensions?
- Is the home in good Condition?
- Mobile home park or private land?
- Does it have to be moved?
- How Many Rooms?
- What Is The Condition of the Flooring?
- Are The Appliances Included?
How Old is Your Mobile Home
One of the first things that will affect your mobile home’s value is its age. Generally speaking, the newer the mobile home, the more it will be worth. This is because newer homes are usually built to higher standards and have more features than older homes. However, there are some exceptions to this rule.
For example, if your mobile home is in a desirable location or has been well-maintained, it may be worth more than a newer home that is not in as good condition.
Homes manufactured after 1997 are installed to the new building code, 15-c in Florida.
Mobile homes built prior1976 can no longer be moved and installed in Florida with few exceptions.
Is the Home a Double Wide or Single Wide?
The shape of the home is another important factor that will affect its value.
A double wide home is typically worth more than a single wide home, since it offers more space. However, there are some exceptions to this rule. For example, if the single wide home is in a desirable location or has been well-maintained, it may be worth more than a double wide home that is not in as good condition.
Double wide homes tend to look more like a conventional home often with a similar layout and feel and without the “trailer” appearance.
Other Considerations Include:
Some counties in storm sensitive areas no longer allow the installation of singlewide homes. Eg. Lake County Florida.
Single wide homes are cheaper to transport and install.
Many Mobile home parks are single wide or double wide homes only.
What are the Mobile Homes Dimensions?
The dimensions of your mobile home will also affect its value. Mobile homes come in a variety of sizes, from small single-wide homes to large double-wide homes. The size of your home will affect how much it is worth because larger homes are more expensive to build and maintain. Sometimes the older parks can only accommodate mobile homes up to a certain size
Additionally, larger homes usually have more features and amenities than smaller homes, making them more desirable to potential buyers. However sometimes very large homes 32’x80′ are harder to sell because of the space needed to install the home.
Fewer people will be looking for a 5 bedroom 3 bathroom home.
What is the Mobile Homes General Condition ?
Condition is also very important.
What does it look like from the road?
Would you want to live there?
The condition of your mobile home will affect its value. Everything can be fixed or replaced but doing so costs money. If it is in good condition, it will be worth more than one that is not in as good of condition.
The most important areas to look at are:
- Roof, shingle or metal.
- Flooring and sub floor material.
- Doors and windows.
- Kitchen and bathroom.
A mobile home that is in good condition may be worth up to twice as much as one that is not in good condition. Therefore, it is important to keep your mobile home in good repair if you want to maximize its value.
Kitchens and bathrooms sell houses!
Some people just want to buy, move in and get on with life, however, some buyers do not mind remodeling the home extensively.
How Many Rooms Does It Have?
The number of rooms in your mobile home will also affect its value. Mobile homes typically have between two and four bedrooms, although some larger homes may have more.
The number of bedrooms in your home will affect its value because larger homes are more expensive to build and maintain. Additionally, larger homes usually have more features and amenities than smaller homes, making them more desirable to potential buyers.
The most popular accommodation is a 3 bedroom 2 bathroom model, these make ideal homes or are good for single family renters with children.
What Is The Flooring Like?
The flooring in your mobile home will also affect its value.
Will you have to change it or is it usable?
Older mobile homes typically have either carpet or vinyl flooring, although some newer homes may have laminate or hardwood floors. Carpet is generally less expensive than other types of flooring, but it can be more difficult to keep clean.
Vinyl and laminate floors are easy to clean and maintain, but they can be more expensive than carpet. Hardwood floors are the most expensive type of flooring, but they are also the most desirable.
Are the Appliances Included in the Sale?
Appliances can be an area of negotiation between the buyer and seller. The cost of replacement is a big issue and can cost $5000 plus. If you have been to the big box stores lately to replace a refrigerator you will know what I mean!
So will they be included or not?
- Washing Machine
The appliances in your mobile home will also affect its value. Older appliances will indirectly decrease the value of the home, while newer appliances will increase the perceived value. Additionally, higher-end appliances will also increase the value of the home.
If you are planning on selling your mobile home, it may be worth it to update the appliances to newer, more energy-efficient models. But you don’t know the taste of the future buyer
Generally, appliances that are more than six years old are not an asset to the home buyer.
Doors And Windows.
Doors and windows are also important components of a mobile home, and their condition is import when considering value.
Many older homes have the original aluminum windows and doors fitted which can be good if they are not damaged or leaking.
Modern mobile homes do tend to be manufactured with energy efficient frames and gas filled glass layers for sound reduction and insulation.
The condition of the door and window hardware will also affect the home’s value.
If you are planning to sell your mobile home, it is important to take all of these factors into consideration in order to get the best possible price for your property. Thanks to these tips, you can learn how to assess your mobile home’s value and make necessary improvements to increase its worth.
Call 863 808 2200 for more information