If you own small manufactured homes, then the question “what is the value of my manufactured home” might have popped up in your mind quite a few times already. Professional builders of manufactured homes highly advise their clients to have a rough estimate on the value of their housing structures.
If you are not planning to sell or move your home in the near future, then not knowing the value of your manufactured home will not affect you. On the other hand, if you are planning to sell your manufactured home, then knowing the value of your mobile home will help you to get a better deal when you are selling your home. Here are a few factors that determine the value of manufactured homes.
Age of the Home
Some manufactured homeowners have a misconception that the value of their manufactured home increases with time just like conventional site-built homes. In reality, the value of most manufactured homes declines with each passing year. No matter how much repairs or upgrades you do, the value of manufactured homes will decline as they age.
Type of Land
As mentioned, the value of manufactured homes will go down as they age. This is particularly applicable to the manufactured homeowners who have installed their home in a trailer park or in a mobile home community. On the other hand, if your manufactured home is located on a private property, then its value may increase with age.
Number of Bedrooms
The recent trend witnessed among several American families is that they are getting bigger. This means that most potential homebuyers will be looking for a bit of extra space while buying homes. So, if your home has multiple bedrooms in it, then it will play a crucial part in determining the value of your manufactured home.
Number of Bathrooms
Most of the older manufactured homes have just a single bathroom. However, if your manufactured home has more than a single bathroom, then it will surely increase the value of your home. On the other hand, having a single bathroom on the housing structure will have a negative impact on the value of your home.
Condition of the Home
If there are any plumbing issues, leaky water line, or any other damages in your manufactured home, then it will significantly decrease the value of your manufactured home. However, if you repair and fix them efficiently, then it might help you to get a better deal when you are selling the house.