Determining the market value of a factory-built home involves considering various factors, including the home’s age, size, location, condition, and recent upgrades. Similar to site-built homes, an appraisal provides a professional assessment of value. However, other methods, such as comparing recent sales of similar properties, can also offer valuable insights.
Understanding current market value is crucial for owners considering selling, refinancing, or insuring their property. Accurate valuation ensures appropriate pricing for sellers, informs loan decisions for lenders, and provides an accurate basis for insurance coverage. Historically, manufactured homes have sometimes been viewed differently than site-built homes in the real estate market. However, increasing demand and evolving construction standards have led to a greater understanding and appreciation of their value.
