Many people look at mobile homes as a viable living option. Mobile homes, also called "manufactured homes," generally sell for less than traditional houses and owners can maintain them at a lower cost than what it costs to maintain a traditional stick-built house. People who want to live in a rural area often choose to live in a mobile home, as many rural zoning boards allow owners to set up mobile homes on parcels of property, eliminating lot rental. Calculating the cost of buying a mobile home should include the option of purchasing a used mobile home.
- Skill level:
Obtain a Manufactured Housing Value Report from a valuation publisher such as NADA Guides. These guides, also known as blue books, give suggested retail value reports for mobile homes (among other items) based on the home's age, size and condition.
Check with real estate agents who work with the mobile home market. Find out what price similar mobile homes in the area go for. Look at their listings for mobile homes in the same general area as the targeted mobile home.
Look at an Internet site that lists mobile home sales and their final prices. Compare the sold mobile homes with the mobile home of interest to arrive at an estimated price for the used mobile home. Compare size, location and condition of the mobile home. Sites that list repossessed mobile homes will frequently give listings, including final prices, of mobile homes that have recently sold in the area.
Survey mobile homeowners in the area who have recently sold mobile homes to gauge the going rate for a mobile home. Again, allow for variations in size and condition of the mobile home.
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