Since we buy houses Jacksonville, we know that a state like Florida; with its tropical climate, is full of mobile home (MH) parks, Jacksonville being one of the hot spots for these properties. As of April 2020, It is estimated that Florida had manufactured the second–highest count of mobile homes at 38,792. In 2018, according to US census data, Florida was only second to Texas in the production of mobile homes, and an estimate places over 800,000 Floridians living in mobile homes. These numbers are staggering, with such a prominent mobile home community, it is essential to properly understand how mobile homes are valued. If you want to value and sell your Jacksonville mobile home, Your Trusted Home Buyer is the best option to help you! We are a team of local professional home buyers and buy all kinds of property in Jacksonville and make direct cash offers on the same! Contact us here, to learn more!
What is a Mobile Home? – Clarifying misconceptions!
- Mobile homes or legally a ‘manufactured home’ is NOT a trailer, camper, or RV.
- While Mobile homes are, of course, mobile, they usually stay anchored in an MH park and modern mobile homes are permanently installed with a masonry foundation or on a permanent chassis. These can be moved but is no cakewalk.
- Mobile homes are manufactured in factories, and ever since 1976, they must adhere to HUD building codes
Valuing a Mobile Home
Like all property, there is no simple formula for valuing mobile homes, with consideration of several factors. Generally, the size, age, general condition, appliances, and other improvements, can drive up or decrease the value of your mobile home. More specific factors that can affect valuation are the heating and cooling systems, the number of repairs required, and the overall condition of the roof.
Predominately here are the accepted practices for valuing a mobile home:
The first step to deriving the value of a mobile home starts with its book value. The National Automobile Dealers Association or NADA provides an online guide illustrating the pricing for thousands of different mobile homes. After entering all the required details, you can receive a report detailing the value of the home after depreciation, for a fee. Find the guide and more information here
If you own the land below your mobile home, be sure you conduct your research or contact an authority to do so, as the value of the land may be more than the mobile home itself.
Get an Appraisal
Consider hiring an appraiser if you would like a more detailed analysis of the value of the mobile home.
While the NADA guide is still a fundamental staple of the appraisal process, other factors that will be considered include the exact location, current condition, owned land or leased space, additional improvements, etc.
The average cost for a mobile home appraisal can vary between 300 to 500 dollars
Contact Real Estate Agents
A real estate agent would be well equipped to help value you the mobile home given their thorough understanding of the current market trends and wealth of experience
They can provide research and data on recent comparable sales which will be useful in deriving how much your home is worth and what is the ideal selling price given the location and demography.
Conduct a detailed inspection
As the property owner, it is essential that you thoroughly investigate and assess the current condition of the mobile home. Damage or general wear and tear to the exterior, interior, and home appliances can negatively impact the overall value. Here are some signs or pointers to look for:
- Look for a Leaky roof. Assess the level of water damage and repair all that is possible
- Make sure your walls are stable and mold-free
- Ensure all utilities are functioning properly like plumbing and electricity
- Clean and declutter the underside of the home. Ensure that there is no insulation being left exposed and no pests or animals are living underneath the property
- Check to see if the outside of the home is not rotting, damaged, or dented. Improve/repair the aesthetics where possible
Hopefully, the above information has been of service! If you think “I need to sell my house Jacksonville quickly”, Allow us to help you. We will guide you and aid in assessing its value with 100% honesty and buy the property from you at a price that is fair to you!