Selling Mobile Homes
Mobile homes, while they can provoke strong and polarized opinions, have become a popular solution to the high cost of living in areas like Western North Carolina. While traditional home ownership may seem out of reach for some, mobile homes are typically much more affordable and, because they can be placed impermanently on rented land, allow for more flexibility in location as well. That said, things can become tricky when it’s time to selling mobile homes located on rented property. Unfortunately, in these cases, the value of the mobile home is generally quite low. Today on Whiteboard Wednesdays, we’ll take a look at why.
In large part, the low value of mobile homes on the rented property has to do with uncertainty and a lack of long-term value for the home itself. We take into consideration a few different variables when valuing mobile homes:
- Lot rent – This is a fixed cost, determined solely by the landowner, and subject to change from one lease period to the next. If the rent skyrockets at the end of a lease period, it can be difficult and expensive to move a mobile home somewhere more affordable. This leads us to our next point…
- Moving costs – Mobile homes can be very expensive to move, often in the range of $3,000-5,000. Moving the structure itself can be trouble enough, but there’s a lot more to consider as well: electric, mechanical, plumbing, and so forth will all need to be disconnected, protected, and reconnected upon arrival at the new location, and this can be expensive as well as time-consuming to do.
- Third parties – We also take into account the added complication of third parties. Because mobile homes are typically located on rented land, homeowners have to abide by the rules of the landowner, whether they agree with them or not, and are subject to potential changes in price and rules.
These three factors, along with many others, keep the overall value for mobile homes on leased land fairly low. Still, for some people, they may be a perfect choice. To learn more about mobile homes and whether they’re the right option for you, visit www.AshevilleCashBuyers.com or give us a call at 828-222-6443!