How To Determine The Value Of Your Mobile Home in Illinois

If you are thinking about selling a mobile home in Illinois, you will need to determine its value. Learn more about how to determine what it’s really worth in this guide!

Estimating the value for a mobile or manufactured home is a bit different than determining the value of a single-family property. By using the tips below, even someone not in the real estate industry will be able to come up with an approximate value.

Inspect The Inside And The Outside

It’s important to know as much as you can about the property you are selling. There will very likely be repairs needed that you hadn’t previously been aware of. Make yourself a checklist, and carefully inspect every square inch of the house.

Inside: Take a good look at the electrical system and ensure everything is in working order. Check walls for stability and any water damage. Inspect the roof for water stains and the flooring for soft spots or holes. Ensure all faucets work properly and check for leaks.
Outside: Look for visible damage to the siding and roof. Ensure there are no missing shingles, dents, or places where water can enter. Check underneath the home for damage, pests, loose wiring, or insulation issues.

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Research Recent Sales

Take a look at what other mobile homes in the area are selling for. Focus on actual sale prices, not just listed prices. Look for homes comparable in year built, size, and condition. Use these tips:

In cities: Look for sales within 0.5 miles.
In suburbs: Look within 1 mile.
In rural areas: Look within 5 miles.

You can also check what the county property assessor has valued your home at. While their estimates may be lower than market value, it provides a good starting point.

Consider The Neighborhood

Although mobile homes are technically mobile, their location significantly impacts their value. If your mobile home is in a nice area, it may be worth more. Consider factors such as:

Local school ratings
Crime statistics
Accessibility
Nearby businesses and amenities

Consult The NADA Manufactured Housing Appraisal Guide

The National Automobile Dealers Association (NADA) provides a pricing guide for manufactured homes, often called the “Kelley Blue Book of mobile homes.” This guide can be accessed:

At your local library (physical copy)
Online for a fee, with various report options available

The NADA report will not account for the value of land, only the structure. If you own the land, be sure to research its value separately.

Hire A Professional Appraiser

If you choose to hire a professional appraiser for your Illinois mobile home, ensure they are experienced with mobile homes, as the process differs from appraising single-family homes. Verify their accreditation, and review their report to ensure accuracy.

Get a Cash Offer for Your Mobile Home

Need fast and reliable mobile home solutions? Our trusted mobile home buyers specialize in making mobile home sales in Illinois simple and stress-free. Use our Mobile Home Valuation Calculator to determine your home’s value and get a cash offer today! Whether you’re looking for buyers of mobile homes or expert advice, we’re here to help. Start now and experience why we’re the preferred choice for mobile home solutions in Illinois.