Can I sell my mobile home for more than I bought it?

If I tell you the answer now, don’t run off and try to sell your mobile home yourself. You will get mad at me when it does not work, so read the full article. 

Yes, you can sell your mobile home for more than you bought it for, but there are points you need to know before you try. 

Market value

Everything has a market value based on its age, condition and how much demand there is for what you are selling. Even the company that made the item makes a difference. It is the same with all items. For example, some new toys are worth nothing once they have been bought from the store. On the other hand, you may spend big money for beat up antiques because they were in high demand and there are collectable. Selling a mobile home (or house for that matter) is the same way. Your mobile home will sell for more if it is in better condition and newer than the other mobile homes for sale in your area. The manufacturer will carry value also. To help sell your mobile home, make the home as nice as you can. Do repairs as needed and clean the yard. 

The land

A lot of times, it’s not your mobile home that buyers are looking at, it’s the location, location, location. An older mobile home that used to be in the country could possibly sell for more now if it has been annexed into the city limits. This means the city has grown into your area and city amenities are closer. Land closer to city conveniences are usually worth more and land that turns commercial can sell even higher. 

Check with your city plans and see where they plan to expand. Are you in an area that has plans of rehabilitation? That may bring the value up. Know where the path of growth is.If the mobile home you are selling is near it, that may help you sell for more. 

It’s in the “buy”

Investors know this phrase all too well. If you pay full retail for a mobile home, chances of getting all your money out of that house is slim. The truth is, mobile homes are just like cars. They have blue book values and they are taxed the same way too. The best way to get your money back out of a mobile home is to pay less than it is currently worth. We just sold a mobile home that we lived in for ten (10) years. After kicking myself for letting it go for so cheap (just the home, not the land), I ran some numbers. The loss I took from purchase to sale equaled $200/mth over that same ten years. Where can you live in a five bedroom house for $200/mth. DON’T FORGET, use of the house has value too.  

NOW, for the sell

In order for you to sell your mobile home for more than you bought it, you’re going to have to create the value for someone to pay that price. The value of an older mobile home is not in the house anymore, it’s in the sell. Most people cannot get financing for an older mobile home, but they can make payments. If you’re willing to take payments for the sale of your mobile home, that will create value for the buyer. They will pay more if they don’t have to go to a bank for the money. You get your asking price and they get terms that are affordable. 

Good luck, The Real Estate Problem Solver

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