Is it Possible to Increase the Value of my Mobile Home?
Manufactured houses tend to lose value after being purchased. Traditional homes, on the other hand, are more likely to appreciate over a long period. Unfortunately, it is also more difficult to increase the value of a manufactured house as it gets older. However, if they want to sell their manufactured home, there are some things that owners can do.
Environment Friendly Upgrades
Energy-efficient upgrades can be made to manufactured homes. This will not only save you money immediately but also increase the value over time. The U.S. Department of Energy states that energy-efficient upgrades can include installing energy-efficient windows, doors, weatherstripping, caulk, and insulating skirting. Important to remember that manufactured homes are subject not to local building codes but to the Manufactured Homes Construction and Safety Standards (or "HUD Code")
Low Priced Upgrades
A manufactured home's total cost is much lower than traditional housing options. This means that upgrades that add value are likely to be affordable enough to justify the expense. Major renovations such as moving walls or adding square footage may not be financially feasible. However, painting the exterior and interior, updating lighting fixtures and plumbing, and adding new cabinets or appliances can all be cost-effective ways to make a manufactured house more appealing to buyers.
Maintaining a manufactured home and making repairs is one of the best ways to retain or increase its value. When valuing properties, real estate agents and appraisers, including manufactured homes, consider the property's quality when determining its value. A house in good condition can often command a higher asking value. In addition, potential buyers prefer move-in-ready homes.
Placement on Real Lot
Because of the limited financing options, it is more challenging to sell manufactured homes located on rented lots. However, they can be priced up to 50 percent lower than manufactured homes on homeowner-owned land. Therefore, even though moving a house is expensive, it can add significant value to the property, even after moving expenses are taken out of the final appraised value. Talk to a professional real estate agent to find out if this move is right for you.