The pricing of any type of property, including mobile homes, is no simple matter. Countless factors can raise or lower property value. Unfortunately, some of these factors – like the market – you can’t change. But others you can alter to your advantage.
If you are planning to sell your mobile home, take a look below. Here we’ve laid out twelve hacks that can help you get the best possible price.
Factors that affect the value of a mobile home
We’ll kick off by looking at the crucial factors that can affect the value of a mobile home. The current state of each of these can either decrease or increase the selling price. And these factors may weigh in differently depending on your target market.
Factors affecting mobile home value:
- Age and model of the mobile home
- Quality and condition of the property
- Whether the mobile home will be sold with a lot
- Supply and demand
- Local housing market
- Interest rates
Keep in mind that this is by no means an exhaustive list, but it does give you a good enough idea to move forward.
Top 10 smart hacks to get the right price
So how do you make sure that you get the highest selling price that you can for your mobile home?
First, you have to be aware of all the factors (like those above) that can affect the value. You need to know what your buyers are looking for and try to fulfill their requirements.
Generally, this doesn’t mean you have to fix every single thing that is wrong. Instead, you should try to strategically choose both the practical and aesthetic improvements that you make. Some changes can add far more value than others.
1 – Professional-quality photos
These days, the first step that 44% of buyers take is to look for properties online. This means that the internet is the first place people will get a glimpse of your mobile home (at least for many people, anyway). That adage that first impressions matter remains true.
You want your mobile home photos to speak for themselves and to show the property from it best angle.
Think about it this way. You wouldn’t use a casual selfie for your resume. Instead, you would probably use a photo that is neat, high-quality, and exudes professionalism. These same principles should apply for the images you use for your home listing.
Many buyers will simply scroll on if the pictures aren’t up to scratch. In their eyes, bad photos will reflect poorly on the quality and condition of your mobile home.
The following tips might come in handy when trying to snap the perfect pic:
- Choose a sunny day.
- Make sure the mobile home is clean and tidy.
- Show off the property’s best assets.
- Use a wide-angle lens on the camera.
You might even find it worthwhile to fork out some extra cash for a professional photographer as they can help you attract higher-bidding buyers.
For more expert tips on photo-taking, take a look at these 10 real estate photography suggestions.
2 – Curb appeal
As we’ve already reminded you, first impressions are critical. You want potential buyers to be blown away as soon as they stop in front of your mobile home. Or you want them at least to be pleasantly surprised.
So one way to make sure you can get a good price for the property is to work on its curb appeal.
Start by going out in front of your mobile home and trying to imagine what it would look like to a stranger. Try to notice any blemishes a stranger might spot and find a way to improve those issues.
Here are some changes that are generally great crowd-pleasers:
- A fresh coat of paint
- Neatly mowed lawn
- Flowerbeds or potted plants
- Stone walkway to the front door
- Pressure washed walls, porch, and roof
- A colorful front door.
3 – Deep clean
One of the most cost-effective ways to improve the selling price of your mobile home is to scrub it from top to bottom. Doing this can help you freshen up both the appearance and smell of the house and put a smile on your buyer’s face.
Preferably, you want to do this before you or your agent takes photos for the listing. But you also want do be sure you do it before you show the home.
You can get rid of plenty of unsightliness with simple soap and hot water. Here are some areas you should focus on during your deep clean:
- Carpets and rugs
- The grout between your tiles
- Stains and scuffs on any surface.
Unfortunately, selling a property can take several weeks, even months. You won’t necessarily be able to do a deep clean regularly. So besides this, you should spruce up the house before every showing by tidying up all your rooms.
4 – Choose high-value upgrades
Another surefire way to increase the selling price for your mobile home is to make some smart additions. There are a variety of upgrades you can make that can drastically improve your home’s value and that can also help you attract and impress potential buyers.
Overall, one of the most valuable changes you can make is adding a room onto the structure. However, this can be quite a challenge and can cost a significant amount.
Luckily, there are many options that are far less extensive. Most permanent or long-term upgrades can help you add value – for example, replacing the flooring or adding built-in storage.
5 – Roll out the welcome mat
Logic and cold hard facts clearly aren’t the only factors that can affect the selling price of your mobile home. Less tangible aspects like people’s emotions and the home’s atmosphere can play a significant role, too.
That’s why you want to make any home viewing experience as pleasant as possible for your potential buyers. You should pull out all the stops to make them feel welcome and at home.
Realtors have a bagful of tricks that they turn to to make this happen.
First, you want to make sure that your home has a lovely fresh and clean smell. Orange and lemony scents are favorites.
Besides this, you want to go the extra mile to make the rooms look more attractive. For example, you can place vases of flowers or put out freshly folded towels in the bathrooms.
6 – All about timing
Unfortunately, you don’t always have control over when you must sell your mobile home. Sometimes you will be forced into a sale due to external circumstances such as having to move for work.
But if the situation isn’t urgent and you have some breathing room, you should choose the time strategically.
Did you know that real estate sales are seasonal?
The market seems to hibernate during winter. As a result, sales slow down dramatically, and you might be forced to reduce the price of your home to get a buyer.
On the other hand, the markets go into bloom in the spring. According to the National Association of Realtors, 40% of annual property sales occur between May and August. You can capitalize on this boom to find a buyer that is willing to pay the “big bucks.”
But keep in mind that this is a national trend. There could be some regional differences. And local markets can fluctuate as a result of many potential factors.
So get in touch with local real estate agents and consult them about the current condition of the market.
7 – Pricing the home lower than market value
This next hack might sound like a contradiction. But bear with us.
There are generally four main ways that you can price any type of property. They are:
- Far below comparative market values
- Slightly less than market values
- Accurate pricing for your specific mobile home and market
Each of these has its benefits and drawbacks. The lower the selling price, the more likely you are to receive offers and make the sale. But, at the same time, the lower the selling price, the less money you might make from the sale.
At the other end – pricing high – the reverse is true. You will receive fewer offers and might struggle to get a buyer. However, if you strike lucky, you will get more money.
So the strategy here is to aim for a price that is slightly under comparative market value. This way, you will get many more offers than you otherwise would. If you get enough offers, you will actually be able to push up the price as you negotiate with potential buyers.
Experts often use this tactic successfully to get a price that is far better than the accurate pricing for the home.
But there are some caveats. We recommend that you only use this hack if you are experienced with real estate or are working with a realtor. And only use it if your local real estate market is favorable and mobile homes are in demand.
8 – Minor renovations that count
It’s a myth that you always have to spend “big bucks” to improve the value of your mobile home. Often it’s the small details that can make a difference.
You might be surprised to find how many small flaws and problems your home has that potential buyers might spot. It could be a cracked tile here or a stain on the carpet there. Or it could be as simple as chipped paint on a window frame.
Undoubtedly, you will find many of these repairs to be quick, easy, and inexpensive. But they can pay off big time. It’s all about trying to create a polished-looking home that people will want to spend time in.
Plus, the fewer issues potential buyers spot, the more they will be willing to pay because this means that they won’t have to expend effort and money to fix the problems themselves.
If you are using a realtor, it’s important to trust his or her advice on this. Your realtor already knows what will bother buyers.
9 – Go for neutral paint
Most real estate experts agree that one of the best strategies for selling a property quickly and at the right price is to apply a new coat of paint. Once again, this is a relatively easy and cost-effective way to revamp any space.
On top of this, professionals agree that neutral is the way to go. Light colors like beige, gray, cream, and luminous whites are all fantastic options.
These shades will make your interior decor look clean, tidy, and modern. And these colors are more likely to appeal to a greater number of people.
Bright and bold shades like blue might suit you just fine and be perfect for making a statement. However, not everyone will feel the same way you do. You want buyers to be able to picture themselves living in the home.
10 – Renovate your kitchen
You know what they say, the kitchen is the heart of a home. Most people will spend a lot of their time here, not just cooking but simply hanging out with their friends and family. It is usually both a visual and physical focal point.
So it should be no surprise that this is one of the key rooms that your potential buyers will be looking at. More often than not, it can make or break the sale.
Therefore, if you choose just one room to remodel to increase your mobile home’s value, it should be the kitchen. You want to give it a little bit of a wow factor.
To get the look, you can try the following:
- Install new granite or marble countertops.
- Replace the outdated cabinets.
- Invest in a modern sink and tap.
- Buy new appliances.
- Install high-quality flooring.
- Improve the lighting.
Work smarter, not harder
Selling a property can be a stressful and difficult process – and especially so if you’re aiming to get the best price for it. That’s why these hacks are focused on helping you improve your home’s value by working smarter and not necessarily harder.
It’s essential that you stick to making changes that you know are going to make a tangible difference. To this end, it can be invaluable to find out more about the ins and outs of selling a mobile home. And then try to get ahead of the game before even listing the property.