How much is my mobile home worth? There are actually a few ways to determine the actual value of your house, whether it’s on a rented lot, or on its own land. Either way, you’ll be able to know exactly what price you can ask when considering selling, or what price you should offer when you are looking to buy. Either way, the methods to determine how much my mobile home is worth are basically the same.
- Find the blue book value: There are several ways to find the blue book value of a mobile home and determine how much it’s worth. Start with a simple online search, but make sure you stick with free sites.
- Call a Bank: You can call a local bank to find out how much your mobile home is worth. Now, this will be a broad generalization, but they will be able to let you know the approximate loan value and blue book value, since they have the pricing guides on hand. Remember, they loan out money and refinance mobile homes, so they must know how much they are worth.
- Recent Sales: Check with a realtor or simply check the classifieds and realty sites online. You will quickly get a ballpark idea of the value of your house on the open market. It’s not going to be an exact science when you use this to determine, how much is my mobile home worth, but it’s a great starting point. You will be able to get a very good idea of what your local real estate market will allow.
- Improvements: Before you can determine the value of your house, you must consider improvements. Is it on a rented lot, or on its own land? Is there a garage? Or are you going to sell the house with the understanding it will be moved? When you set out to determine, how much is my mobile home worth, you must consider all the angles you can.
- Needed Repairs: Be sure to deduct any needed repairs your house may need. You can rest assured that if you attempt to sell, the buyer will notice and ask for a reduction in price, if not priced accordingly. Likewise, as a seller, you must assume that you will likely get a lowball offer, to fix any issues. How much is my mobile home worth? It really depends on how much work it needs to be ready to live in comfortably. The bank will also consider this if you try to refinance your house.