Millions of manufactured home dealers deal in the factory-built homes making them an important part of real estate segment in America. These dwellings are priced and sold based on the federal norms and dealer stands. Once the manufactured home has been occupied, the standard appraisals are a common practice. The appraisals take place to calculate the value of a particular manufactured home. Below are three tips to help evaluate the value of your home.
Calculate Based on Residing Location
The residing location has an impact on the value of all types of home. For instance, the mobile home can have high value if it resides on an owned property, not a leased one. In fact, even the stick-built homes reside on a leased property and their value tends to depreciate gradually.
It is said that stick-built homes on a leased property may decline by 5 percent a year. Some mobile homes also reside on trailer parks and they can be seen towed on wheels.
Approach Reliable Sources Only
The value of even the best manufactured homes may vary based on the modules, its sustainability, solidity, and overall appeal. The demand for homes in a region is dependent on the condition of the home. A used stick-built home may require renovation works, less so on a home having factory certified modules.
When they are built in a controlled factory environment, they might have insulated ceilings and the stable Structured Insulation Panels. The value of used dwellings gets appraised by home inspectors, and the reports are available with reliable sources such as NADA.
Compared and Contrast Dealer Prices
Comparing the appraised value with the prices of other dwellings is a good way to measure where you stand today. Try comparing your home with the ones in a nearby neighborhood or those dealt by manufactured home dealers in an area. In fact, the easiest way to approach dealers is to seek relevant information regarding the price of used dwellings and general market trends in a neighborhood.
Most manufactured home dealers also possess the information regarding prices, both present, and near. Just approach a local sheriff in the area and he/she will know the relevant details about the licensed dealer dealing in HUD coded homes in America.