Question:

What does manufactured (mobile) home value depend on?

Answer:

On the whole, manufactured (mobile) home value depends strictly on:

  • how new the construction is and how many units are included;
  • whether the home is fixed on a permanent foundation, or not;
  • whether it has room additions, garages, a fireplace, or driveways;
  • if any improvements have been made.

To determine the price of your mobile/modular/manufactured home on your own, you are advised to follow a Manufactured Housing Cost Guide, approved at least by Fannie Mae, Freddie Mac, VA and HUD FHA Title 1. A manufactured (mobile) home value guide can be found online.

Manufactured vs. Modular vs. Mobile Home Values

Manufactured, mobile or modular terms are all used to denote a factory-built home that is possible to move from one location to another. The terms are used interchangeably but the difference may be substantial when it comes to pricing. Multi-unit manufactured new construction with fancy features and newest appliances will be the most expensive.

Mobile homes are the cheapest ones. They are either built prior to June 15, 1976 or no construction code, local, state or federal has been followed in the production process. Mobile homes were commonly referred to as trailers; were considered substandard housing units and a sign for area home value depreciation.

Modular homes are built to a statewide construction code, such as UBS, IRC, etc. Their Certification Plate/Label won't be the HUD red plate but will show which building standard was followed in construction. They are usually built as on- and off-frame modular. The off-frame modular home will need a crane to help attach the unit to the land and more often than not modular homes are never moved again after initial placement.

Manufactured homes are factory-built to the HUD Title 6 construction code. A red HUD Certification Label will be located on the outside of each movable unit, near the tail. An inside HUD Data Label will most often be placed on the main electrical board and removal is illegal. Manufactured homes are almost never moved from their original installation site, even though they have a permanent chassis.

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