Free Online Property Valuation
Knowing the current value of your home is important if you’re considering selling your property. Even if you’re just curious and have no immediate plans to sell, knowing your home’s worth can help you make informed financial decisions.
How do I quickly get an estimate of my home’s value?
You can check the value of your home through a free online property valuation tool from property search sites such as Zoopla or Rightmove. These tools use data from recent sales of similar properties in your area to indicate how much your house is worth.
To use these tools, you need to enter your postcode and some details about your home, such as how many bedrooms and bathrooms there are.
These smart tools will generate an estimated value range for your property based on the current market conditions.
Using an online house valuation tool can be a quick and easy way to get an estimate of your property’s value
What Factors Can Affect Your Home's Value?
An online property valuation can give you a good idea of your home value but lots of things can push your home value up or down, including:
Location
We’ve all at one time or another been shocked as we compare the price of a 2 bedroom home in a rural area to London. Areas that boast more job opportunities, great transport links, nearby schools, and lots of entertainment venues to choose from in the local area are commonly more desirable. Therefore, property prices tend to be higher.
Take a look at the average home prices in the UK by area to get an idea of what your home could sell for via the house price index.
Properties in the surrounding area of a city may be cheaper than those within the city, however, if your property has easy transport links into the city this can be an influencing factor for buyers.
Size and layout
The square footage of your home only minimally influences the price of your home. Not all square footage is equal so it doesn’t greatly impact the property price. However, additional rooms can increase value.
An extra bedroom alone can supposedly increase the value of your home by 15% and can be a swaying factor for buyers.
Families will naturally opt for properties that can home their growing families and will be conscious of how many bedrooms and bathrooms a property has when choosing to put an offer in on a new home.
So while square footage isn’t the most affecting factor on price, home details such as additional rooms and more space for storage are going to increase the value of your property.
To get more of an idea of your home value, use a house value calculator to see an online estimate of your home’s current market value.
Condition and quality
The value of a home is also determined by its condition and quality. A new home will more likely be valued at a higher price, as it will be built with modern building requirements in mind, high-quality building materials, energy-efficient technology, brand new piping, internal organs, e.t.c.
However, any home that’s well-maintained and structurally sound home will be worth more than one that requires extensive repairs.
Homeowners who invest in regular maintenance and upkeep can expect to see a higher resale value for their property.
Upgrades and improvements
How can I up the value of my home? If you are conscious your home has the potential to be fetching more than what it’s going for then making upgrades and improvements is an ideal way to invest in the home to help further its resale value.
Extensions, converting a garage, or even making simple repairs can increase your home value.
Of course, the cost of a new extension, or renovation has to be accounted for and these aren’t always cheap. The cost of an extension is likely to cost around £1,500-£2,250/m² of new internal space. A full home renovation is estimated to cost between £76,900 and £138,800 by Checkatrade, however, it’s best to fix the rooms that need the most attention if they have any glaring faults that could potentially knock off your home value.
Demand and supply
The market value of your home is closely tied to the balance of supply and demand in the local property market. When a surplus of buyers are competing for a limited number of available homes, this scarcity can drive up your home’s value.
If the market is saturated with listings but buyer interest is low, you may see a decrease in your property’s worth.
Monitoring market trends and consulting with real estate experts can provide valuable insights into how these dynamics affect your home’s valuation.
How Does a Property Valuation Help You?
Knowing the value of your property can help you in many ways. For example, it can help you:
- Decide whether you want to sell your home or stay put.
- Determine how much equity you have in your home and how much deposit you can put down for a new property.
- Release some funds from your home to pay for home improvements or other expenses.
- Remortgage your home to get a better deal or lower your monthly payments.
- Negotiate with buyers or sellers and get the best price for your property.
Get a Professional Valuation
While online valuation tools can give you a good estimate of your home’s value, they are not always accurate. If you want to get an accurate valuation of your property, it’s best to get a professional valuation from a qualified appraiser or an estate agent.
A professional appraiser will be able to take into account all of the factors that affect the value of your home, including an in-person valuation, and give you a more accurate estimate. They will also be able to provide you with a written report that you can use for insurance purposes or to sell your home.
Contact Us
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The FCA does not regulate Valuation & Survey and for these services we act as introducers only.
