Experts say that manufactured homes tend to depreciate their value in long run when compared to the conventional homes. Most people say that the site built homes gain in their value over time, and it is much difficult to add value to the older mobile homes that were made before 1976. Yet again, there are a few things, which manufactured homeowners can actually do to increase the marketability and value of their home.
Installing Energy-Efficient Upgrades
Installing energy efficient upgrades to small manufactured homes will add long-term value to the home and offer immediate savings. As per US department of energy, manufactured home upgrades that can increase the energy efficiency of the home include adding energy efficient doors and windows, installing more insulation, insulated skirting, weather stripping, and caulking.
This is one of the best ways to retain and add value to the mobile or manufactured homes. Real estate agents and appraisers who evaluate properties like mobile homes take into account the quality of the home and the property while calculating for its value. By a rule of thumb, a manufactured home that is top shape can command higher prices. Besides, potential homebuyers also prefer move-in ready homes.
As the total value of manufactured home is low when compared to the traditional homes, you need to add inexpensive upgrades to the home to justify the cost. Major changes to the home like adding square footage or removing walls will prove to be very costly while considering a net profitable return while selling the home. Yet there are many inexpensive upgrades like painting the exterior and interior of the home, upgrading the lighting and plumbing fixtures, and adding new appliances and cabinets to the home, which can add to its market price.
Placing on Real Property
Manufactured homes that are placed on rented lots are difficult to sell, as only limited financing options are available for these homes. Due to this reason, these homes can be priced up to fifty percent less than those manufactured homes that are placed on real land owned by the owner of the house. It is true that moving the manufactured home can be a costly step, but the value addition obtained by relocating the home to a real land can be substantial. You can consult with a real estate agent to find if such moving can work in your case.