Typically your home will depreciate around 3% to 3.5% each year. Unfortunately, just like with vehicles, mobile homes depreciate in value over time. Are you in a desirable area? If you live in a mobile home park, what is the condition of the park? Are there amenities that may increase your home’s value? If you don’t own the land, consider your surroundings. Is that land in a popular area? Is it right on the water? Factors like this can increase your home’s value. Do you own it? Your home will likely be worth much more if you do. The biggest factor concerning value is the land beneath your mobile home. These types increase in cost as they increase in size, meaning a single-wide costs the least and a doublewide costs the most. There are three types of mobile homes: single-wide, double-wide, and multi-wide. And just like with single-family homes and other real estate, the condition of your neighborhood and your neighbors’ homes also affect your mobile home’s worth. Even making simple repairs and giving the walls fresh paint can increase the value. Walls with chipping paint, dinged-up doors, and stained carpet can all affect your home’s worth. Just like with anything you try to sell, the better the condition it’s in, the more money it’s worth.
Whatever method you choose, there are four major factors to consider when calculating your home’s value: mobile home condition, type, location, and depreciation. You can estimate your home’s value on your own, do an online appraisal, or have an in-person appraisal done. One of the first steps when selling your mobile home is to learn what it’s worth.
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