When sellers call us about listing their mobile home, the most common question we get is, “how much can I sell my mobile home for?” It’s June 2022 and the housing market across the country has started to cool off a bit. The interest rates for traditional homes are currently in the 5 percent and up range. The interest rates for mobile homes (in parks) doesn’t really change like it does for traditional homes. So, what does that mean for me if I’m thinking of selling my mobile home?
Well, in our local market (Vancouver, WA / Portland, OR metro area) the need for affordable housing is in high demand. The number of mobile homes on the market is currently limited which puts sellers in a great position. Click here to view the homes on the market.
While the market might be cooling off for sellers for traditional homes, there are still a variety of factors that will determine the value of your mobile home. Here are a few questions that buyers are looking at when purchasing a mobile home and how much they are willing to spend.
How much is the lot rent and what does it include? The lower the lot rent the better for buyers. It’s also great if the park includes some sort of utility along with the lot rent.
Is your home located in a senior community or an all ages community? There are lots of buyers for both types of parks. But, generally the mobile homes in all age communities can get more buyers because there is no age restriction.
How many bedrooms and bathrooms does you mobile home have? The more bedrooms and bathrooms a home has is also a benefit. If a mobile home is in an all ages community, most buyers are looking for a minimum of 3 bedrooms and 2 bathrooms.
What year was the home built? If the home is older than 1976 there are limited banks that offer lending. Why? The government (Housing Urban Development aka HUD) started regulating the construction of mobile homes and put laws into place on how they need to be built. So, if the home was built prior to June 15, 1976 some banks may require the buyer to have a higher down payment to provide financing.
These are some of the key factors that can determine how much you can sell your mobile home for. If you would like one of our agents to give you a free consultation of the value of your home, feel free to call us at 360-215-7372, or fill out our online contact form below.
We have agents on staff that can help with the following:
- Mobile homes in parks in Washington State
- Mobile homes in parks in Oregon
- Mobile homes on private land in Washington
- Mobile homes that need to be moved off of land in Oregon and Washington
- Any type of real estate in Washington State
- Financing for manufactured homes on land (not in parks), VA loans, USDA loans, land loans, condos, on land and traditional homes
If you need help getting financing for your mobile home purchase, give us a call at 360-215-7372 and we can get you connected to a lender that is right for you.