I KNOW it is all relative… I’m just looking for a general estimate without having to pay to use NADA or another service. 😉
The mobile home was originally purchased in 1993 for $30,000. It is about 80ft long, 16ft wide. It has two 3/4 bathrooms, one master bedroom, a second decent sized bedroom, and a third tiny bedroom (really, it isn’t much bigger than a storage room.) It has two ceiling fans (one in living room, one in master bedroom.) It has central air, no dishwasher, and no decks or patios.
Currently, they are asking for $10,000. Does that seem fair?
11 Answers
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A three bedroom two bathroom Singlewide or (single and a half as that is what a 16 foot wide would be), mobile home is not that common so should hold their value a little more than a single wide with 1 or 2 bedrooms.
Yes that is a fair deal. It also depends on the condition of it and the park’s space rent and such. If the condition is really good and low space rent or at least a very fair rent, then that is a great deal. If it is only ok condition and not so nice of a park, then that is still a fair deal, but that is all it is. It will be hard to find that cheap of a decent 3 bedroom 2 bath house in my opinion.
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Mobile Home Value
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If you figure that a mobile home only holds value for about 30 years and it is about 20 years old now then the 2 thirds from the original price will leave about $10,000 so if you can buy it and get it moved an set up for that then it seems like a fair deal to me.
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Here are some things to consider. A bank will not loan money on a mobile home more than 10 years old. The price us good if you consider that you are paying a little more than $7 a square foot. I think it’s a good deal.
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Well, I’m in a 1990 mobile, 66 x 14. I have no idea what its original cost was. It’s assessed for this year at around $42,000 for property tax purposes(that value has been about the same for the past 5 years), a dealer has told me on the phone that they would buy it from me for $30,000 or so depending on condition, and if you want to buy one like this, this age,around here, in a park where you rent the land, you will pay $45 to $50,000 if it’s in decent shape. My insurance broker recommended insuring it for $120,000 in case this one should burn to the ground, and if it didn’t burn but I just felt like getting a new one the same size, I’m told that it would cost me about $90,000 delivered and installed.
On that basis, $10,000 for a 1993 looks like a hell of a deal to me, but the point I’m making is that prices depend entirely on the trailer itself and the area it’s in. I’m in Canada, so maybe mine is more insulated or something than yours. You have to check local prices to know if it’s a good deal.
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1993 liberty mobile home
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Try asking a bank, they have the blue book listings since they loan out money for things like homes.
Also realators will have the information. Sometimes you can get an idea by looking in the for sale listings in a newspaper…
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$9,000 to $10,000 sounds fair if it is in good shape.
The central AC is old and it will not last very long, if it is the one that came with the trailer.
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