6 Worst Mistakes That Kill Manufactured Home Value
One of the more common questions we get here at Four Leaf Properties is “Do manufactured homes lose value over time?” The short answer is, “it depends.” We’re here to share the most common mistakes that negatively affect your manufactured home value. Avoiding these mistakes will keep your home value as strong as possible – often enabling you to sell it for more than the purchase price. In fact, a recent analysis by Datacomp Systems reviewed re-sales of 185 new manufactured homes in Michigan and found that the majority increased in value over time. That is your goal and our goal.
Mistake #1 – Buying a manufactured home in a poorly run community
Communities matter -- because just like any neighborhood, buyers want a good one. And, good manufactured home communities are a direct result of great ownership and management. At Four Leaf, our managers are professionals who look for and approve high-quality buyers. Other community perks, like playgrounds or pools, along with fun parties and events also play a key role in making a great neighborhood. Our residents love their communities and take pride in living there. They put down roots.
Mistake #2 – Buying an old manufactured home that’s out of date, not code compliant or poorly maintained
Yes, they might be cheap, but as the saying goes -- you get what you pay for. Manufactured homes built before 1977 are a different breed. They are missing modern improvements which have really changed the game in manufactured homes. What’s more, most do not comply with federal quality requirements and safety standards. Today’s manufactured homes are assembled much like traditional stick built homes and meet strict safety standards. Keep in mind that any home that’s dirty or in poor repair will sell for less as the buyer will have to make improvements.
Mistake #3 – Buying a manufactured home in an area where home values are going down
Let’s face it, you can’t fight a declining market. By the same token, if home values are going up in a neighborhood, manufactured home values will go up at the same rate, and just as quickly, according to a study by the Manufactured Housing Institute.
Mistake #4 – Buying a bad quality home
Not all manufactured homes are equal. Make sure that you buy a quality home from a company who knows what they are selling. At Four Leaf Properties, we own and operate over 20 manufactured home communities and we buy the best homes at the best prices. We know from experience what makes a quality home and even our most affordable home has key upgrades to ensure long-lasting durability and value. High quality helps home value over time.
Mistake #5 – Spending too much on your home
Everybody wants a great home at a great price. At Four Leaf Properties, we sell new manufactured homes at 30-50% off of retail. They are the best manufactured homes made today, in an opinion shared by many, and we get great prices because we buy A LOT of them. We pass the savings on to you. It’s a great step one to building home value over time.
Mistake #6 - Selling a home on your own
Selling a home of any kind is hard and can take time. At Four Leaf Properties, we have professional sales consultants who utilize various forms of advertising to present homes to as many qualified buyers as possible. We also have a great reputation, which adds to our ability to sell your pre-owned home.
Still Have Questions?
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