How to Know What Your Tucson Mobile Home Is Worth
Your mobile home is among your biggest assets. While you know what you paid for it up front, as well as what you’ve put into it, you may not know what your mobile home is worth now.
This is important information to know, not only if you ever decide to sell it, but also for your own financial statements.
Here’s how to know what your mobile home is worth:
What Impacts the Value of Your Mobile Home?
There are a variety of factors that play into the overall value of a mobile home. Some of these factors include:
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Land: Do you own the land your mobile home sits on or is it owned by someone else? If you own the land, how much is that land worth? Often, the land on which a mobile home sits plays more into what your mobile home is worth far more than any actual features of the home itself.
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Condition: If you’ve kept your mobile home in good condition, or if you’ve made improvements to it, it will be worth far more than a home that’s been neglected or is in ill repair.
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Size: The larger the mobile home, the more it’s worth.
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Location: Where your mobile home is located has a big impact on its value. If you live in a neighborhood with lower crime rates, higher overall property values, and with good schools, your mobile home will be worth more.
How Can You Find out What Your Mobile Home Is Worth?
Determining the value of your mobile home is similar to determining the value of a standard home. There are several ways you can get an idea of its value, including:
Research
With a little time and research, you can figure out your mobile home’s value on your own. Use one of these three methods:
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Look at your property tax statement to see how your local assessor valued your home.
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Research the listing price and sale price of other mobile homes in your area, especially those very close to your home.
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Order a Comparative Market Analysis from a local real estate agent. This compares your home to others in your area that have recently sold.
Get an Appraisal
Having your mobile home appraised is a great way to understand its worth.
An appraiser operates similarly to the real estate agent’s competitive analysis, except an appraiser actually comes in and looks at the overall condition and features of your home. Your home is then put up against other similarly situated properties in your area, giving you an average value of your mobile home.
Get the Book Value
Similar to the book value of a car, finding out the book value of your home uses an algorithm to evaluate what your mobile home is worth.
Items such as the make and model of your home, any upgrades you’ve made, and the price of the land your mobile home sits on all play into this calculation.
The book value of a mobile home is among the least accurate ways to determine value, as your mobile home is being put up against homes all across the country without consideration of all the unique items that can impact valuation.
Get a NADA Manufactured Home Value Estimate
For around $25, the National Automobile Dealers Association can provide you with a report of the estimated value of your mobile home.
Professionals use the NADA Manufactured Home Value Estimate report in determining what your mobile home is worth, and a variety of factors go into calculating the value. This is a good document to have on hand if you decide to sell your mobile home.
Quickly Sell Your Mobile Home in Tucson
Before you can truly try to sell your mobile home, you have to know what your mobile home is worth. At We Buy Mobile Homes in Tucson, we can help you with this process, as well as making the sales process easier for you. Contact us today to get your mobile home sold!