Calculate Single Wide Mobile Home Prices For Buying Or Selling
Buying a single wide mobile is a great option. These homes are popular because they are cheaper, require less expensive maintenance, and make the process of owning a home more practical. Their size makes them ideal for singles, couples with no children, and for those who want to turn their vacant plot of land into a vacation spot. Whether you are in the market to buy or sell a single wide, you’ll want to calculate a reasonable price. Keep in mind that single wide mobile home prices can vary substantially.
How to determine single wide mobile home prices
Through NADA Appraisal Guide
Generally, the NADA Appraisal Guide regulates the standard price of single wide homes. As a result, they are in a better position to give you an accurate pricing of your mobile home. Their offices or website can give you the prices on a variety of mobile homes since they determine prices using various factors such as date of manufacture. If you subscribe on their website and fill out an online form request. NADA will use the information you provide to email you a detailed value report.
From Your Local Bank
Most local banks – especially those who give loans to buy mobile homes – tend to have updated single wide mobile home prices. Visiting your local bank is another option to get an evaluation of your single wide. They can even give you a copy of the NADA guide.
Ask a Home Appraiser
Home owners that aren’t sure about the current price of their mobile homes can ask a professional and certified real estate agent or a home appraiser. The agent will be able to estimate the price of the home according to the present-day market prices. Additionally, explaining the precise detail of your mobile home like the condition, any upgrades made, and size can help the agent compare your mobile home to other house listings.
Another way to get more information about mobile home prices is through the internet. Online research will give you a better idea of the current market price. Furthermore, you can determine what to price your mobile home when you are thinking of reselling. You’ll also be able to compare your mobile home price with recently sold homes or those on the market.
Ask Other Mobile Home Owners
Mobile home owners in your community can help give an opinion on reasonable prices. You can also use their buying and selling experience to gauge which elements increase the value of single wide mobile home prices. After talking to the mobile home owners in your community, you can use the obtained information to put a value on your home.
The NADA guide is probably the first place you want to look, but whatever method you choose, always ensure to keep your price reasonable. In the end, being willing to compromise or make improvements, like adding a fresh coat of paint, can go a long way in a sale.
Factors that influence single wide mobile home prices
The Condition of the Mobile Home
The status of the single wide mobile home will determine its worth. For an old home, the price will depend on its aesthetic appeal and maintenance. For a well-maintained home, it is easier to demand a higher price. First, before calculating the price of your home, repair any problems. With regular maintenance, a mobile home can have a minimal value but last longer. Besides, a single wide mobile home has less upkeep which makes maintenance easier.
The location of your single wide has a major impact on the final price. Homes closer to needed amenities and places of convenience such as hospitals, police stations, schools, and parks will have a higher value as compared to those that aren’t in an ideal location. Other factors of the neighborhood, like low crime rates and the rate of development, will increase the value of your home.
The Number of Rooms
A mobile home with one bedroom and less square footage will bring a low price as compared to homes with two or more bedrooms. The added amenities in the rooms can increase your single wide mobile home price.
While the land beneath your single wide will keep increasing in value, your home if not properly maintained will result in loss of value. With age, the mobile home is likely to depreciate. This will lead to a low selling price. However, new homes with updated technology or those with proper maintenance can command a higher price.
Why opt for a single wide mobile home?
When considering single wide mobile home prices, here are important factors to consider that make a single wide mobile home a great choice.
It is easier to buy and move a single wide mobile home to your desired location because it’s made up of a single unit. Furthermore, the single wide only requires one trailer for relocation as compared to the double wide.
A single wide requires less land space than a double wide. Additionally, it is lighter, requires a less-involved foundation and can easily be positioned on land that you own or rent. You can find these houses mostly in rural areas and cities with cheaper land rates.
A single wide is a bit smaller. Hence its cost will be relatively more affordable. Additionally, technology has made it easier to get mobile homes that are upscale.
Ultimately, the answer to what determines a single wide mobile home price depends on the design of the house. By doing a bit of research, you will have various options, and you can price your home accordingly. Above all, settle on a mobile home that is within your budget and style. Or, if you’re looking to sell your single wide mobile home, put a competitive price on your home and you’ll be able to find a buyer ready to make a deal.