3 Ways to Calculate the Value of a Mobile Home - wikiHow (2024)

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Co-authored byCarla Toebe

Last Updated: May 22, 2024References

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   Locate the blue book. In the United States, the NADA Manufactured Housing Appraisal Guide is the “blue book” used to determine the value of mobile homes. Go to your local library and see if there is a copy.

   • Look in the book for your type of manufactured home, and then follow the step-by-step guide for calculating the retail book value. Your calculation will depend in part on the condition of the mobile home.^[1]
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   Visit the NADA website. Alternately, you can submit an online request for a value report at the NADA website. However, you must pay in order to get a report.

   • A Basic Used Home Value Report will cost $35. You can use this report if there are no unique features to your mobile home.
   • A Professional Used Home Value Report will cost $55. This report will give you a more in-depth analysis and accurate estimate of the home’s value.^[2]
   • A New Home Price Report will cost $45.

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   Provide the requested information. The NADA guide will estimate the value of your home based on the following factors:

   • year the home was manufactured
   • manufacturer
   • size of the home (width and length)
   • where you are located (state and region)
   • condition of the home
   • other features, such as granite countertops, hardwood floors, garages, etc.
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   Receive your report. After submitting your online request, you will instantly receive your report. Click on the “View Your Report” button, which is located on your payment confirmation page.

   • You can print off your report or save it.
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   Understand the limitations of the book value. The book value does not take into account the value of your land, which is often more valuable than your mobile home.^[3] For this reason, you should also do your own research if your mobile home is fixed to a piece of property.

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   Research comparable sales in your neighborhood. Each local real estate market is different, and the book value cannot account for whether your local market is hot or not. Make sure to look at how much comparable mobile homes have sold in your area. You can find the sale price at your county recorder’s office or by looking at websites such as Zillow.

   • The mobile homes need to be comparable in terms of size, age, general condition, and the amount of land.
   • You are unlikely to find an exact match, but you don’t need an exact match. Find mobile homes around the same age as yours and about the same size.
   • Sales also need to be recent. The market was different four years ago than it is today.
   • Your comparison properties should be located within half a mile of your property if you live in the city, a mile of your property if you live in the suburbs, or 5 miles of your property if you live in a rural location.
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   Assess the condition of the home's interior. The overall condition of the mobile home will impact its value. Visit the mobile home and try to inspect the inside. The more repairs you need to make, the less value the home has. Pay attention to the following factors:

   • Roof. Look for signs of a leaky roof inside the mobile home. In particular, water damage should show on the ceiling or walls.
   • Walls. Check the stability of the walls and whether there is any mold.
   • Flooring. Look for holes or soft spots on floors. Also check whether the floor is uneven.
   • Plumbing. Some water leaks may be caused by leaks in the plumbing. Also check the water pressure.
   • Electricity. Check outlets and turn on light switches to see if the electricity works.
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   Inspect the outside of the home. Repairs often have to be made to the outside of the mobile home. Walk around and assess the following:

   • Roof. Don't rely solely on the absence of water marks inside. Instead, check the exterior of the roof by walking on it and looking for soft spots, holes, or missing shingles.
   • Siding. Check whether siding is damaged, rotting, or dented. Also assess the overall aesthetic quality. Ugly siding can reduce the value of the home.
   • Underside. Definitely check the underside to see how stable it is. If necessary, remove some pieces of skirting and use a flashlight. Check for insulation hanging down or junk and debris strewn all over the place. Also check whether animals are living under the home.
   • Make sure the home has tie downs that connect the home to the ground. These will be necessary to get loan funding to pay for the property.
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   Identify features that add value. Some features might increase the value of your mobile home. You should identify anything that would make your home desirable, including the following:

   • Quality of the neighborhood. For example, you might be in a well-maintained neighborhood that isn’t overcrowded. If so, your home’s value should increase.
   • Proximity to services. Your home’s value will also increase if you are near hospitals, schools, or a transportation hub.^[4]
   • Granite countertops or new appliances. Buyers might value these features and pay more for them.
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   Ask a real estate agent for an analysis. A real estate agent might be willing to provide you with a comparative market analysis (CMA) for free. Find agents in your phone book or ask someone you know for a referral.

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   Look at your property tax statement. You are assessed property taxes based on the value of your home. Find your property tax statement and find out how much the appraiser has valued the mobile home.^[5]

   • Property tax records are also public, so you can find out this information about another home in your area. Visit the tax assessor’s office.
   • Keep in mind that homes usually sell for more on the open market than the price that is listed on the tax assessment forms.

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1. 1

   Find an appraiser. Look for someone who is certified or has a state license.^[6] These are signs of sufficient training and skill. You can find an appraiser in the following places:

   • Obtain a referral from a state appraisal board. Type “your state” and “appraisal board” into your favorite search engine. Check to see if your state board has a directory you can search.
   • Search the directory of an accreditation society, such as the American Society of Appraisers.
   • Contact a real estate agent for a referral to someone who is qualified.
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   Ask about the appraiser’s knowledge of mobile homes. Mobile homes can present many challenges to appraisers who do not have sufficient experience. Ask appraisers whether they have a certification to appraise mobile homes or whether they have ever taken a course on manufactured home appraisals.^[7]

   • Keep researching appraisers until you find one sufficiently knowledgeable about mobile homes.
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   Meet with the appraiser. You should meet the appraiser at the mobile home. They may have questions about the neighborhood or the property.^[8] Answer them as completely and honestly as you can.

   • The appraiser also needs space to perform the appraisal, so don’t hover. Give them enough space to do their job properly.
   • A typical appraisal takes a few hours and costs around $500.^[9]
   • Most of the appraisal will be done away from the property. Expect the meeting at the property to take about 10 minutes. The appraiser will measure the home, take inside and outside photos, ensure systems are working, and recommend any needed repairs.
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   Analyze the appraisal report. When you receive the report, you should study it closely. You’ll want to make sure that the appraiser used appropriate homes for comparison purposes.

   • Also check whether the appraiser properly valued features that can add value to your mobile home, such as location to public transportation or proximity to a good school district.^[10]
   • If you disagree with something in the appraisal report, bring it to the appraiser’s attention. Write a letter laying out what you think the appraiser overlooked.

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