Mobile home units, also called manufactured homes, are properties that can be both permanent or mobile structures. Appraisals conducted on mobile homes are similar to single-family or multi-unit property appraisals in that they take into consideration most of the same features of the property.
Instructions
Increase the Value of a Mobile Home
1. Do cosmetic work to the entire property. This type of improvement will affect the appraisal value the least, but it will give the first impression to the appraiser as he or she enters the property. Making a positive first impression will pay dividends as the appraiser begins to look at the structural qualities of the property. Plus, cosmetic improvements will increase the value of the property slightly. These updates include: painting, clearing debris, deep cleaning, redecorating, changing carpets, steam-washing, changing wallpaper and manicuring the lawn, (if applicable).
2. Add appliances. The appliances that will increase the value of the property include: central air, a fireplace, new refrigerator, new oven, new dishwasher and new washer/dryer units. These should be considered investments in the property.
3. Add square footage where you can. It's tough to make any major square footage additions to mobile homes, but there are a couple ways to increase livable square footage. The first is adding a deck. Many mobile homes have side decks, either covered or uncovered, where tenants can relax in nicer weather. A new deck will significantly increase the value of a mobile home. Also, make sure to add stairs up to the home if they are not already installed. They will add square footage, and they are a standard check on most appraisals.
4. Add a basement if the mobile home is a permanent structure with a foundation. A finished basement (one that has running water and electricity) also will increase your mobile home's value significantly. Not only will it instantly add another room to your appraisal report, it will also add precious square footage.
5. Purchase or replace damaged, unsightly, or unfinished skirting and underpinning (see resources). Continuous skirting or underpinning with a healthy look will award you the most value on your appraisal report. Again, this is a worthy investment.
Tags: square footage, mobile homes, will increase, appraisal report, first impression