Understanding the value of your property is always important. Regardless of where you live in the UK, or what type of house you own, getting a clear sense of the house’s worth can help you to make better-informed decisions moving forwards.
There are plenty of factors that influence the value of your property. These include:
- Location
- Size
- Economic conditions
- Age
- Condition
Sometimes, when you hire an estate agency to carry out a valuation on your property, it does not give you an accurate figure. This is because plenty of estate agents exaggerate the value of your house so you are more likely to hire them and sell it.
However, receiving an overexaggerated valuation is never helpful.
In the blog below, we’ve written about how you can find out the value of your property, as well as why it is important.
How do I find out the value of my house?
You can contact an independent property valuer who will give an accurate estimation of your house’s worth. In most cases, this person will visit your property in-person and inspect it, before giving you their professional opinion. It is important that this individual is independent, because it can help to guarantee that they have no reason to deceive you.
You can use online websites to check the value of your house, too. The Land Registry enables you to cross-check valuations, while companies such as We Buy Any Home have an online valuation tool that you can use via our website.
You could speak directly to people who have bought or sold a house in your area, of a similar type to yours, in recent times. This information can be useful for giving you a guideline, too.
Can I get a free valuation on my house?
Yes, there are plenty ways you can get a valuation on your UK property for free.
Some estate agencies offer this service free-of-charge, as do several cash house buyers (although, their valuation may be slightly below the typical market rate). There are plenty of online calculators that you can use for free, too, that will give you a guideline to the value of your house.
You can contact We Buy Any Home today to value your home.
How much are properties worth in the UK?
The value of your house will usually vary for as each year passes, and may also do so based on the seasons. For example, average house prices increased in a recent twelve month period to £304,000 (4.1%) in England, £214,000 in Wales (4.8%), £185,000 in Scotland (3.0%) and £172,000 in Northern Ireland (5.0%).
Ways to increase the value of a house
There are several steps you can take to increase the value of your property.
Firstly, an extension on your house will increase its square footage, and thereby the value. Adding a playroom, conservatory or an additional bedroom (perhaps as a loft conversion) can all be useful for increasing your house’s worth.
As a second suggest, you may be able to increase your house’s value by improving the exterior. Paying for a new driveway, making sure the garden is well-looked after, or removing any diseased trees can make a positive difference.
You may want to fix any smaller problems with your, as these can all add up to have a big impact, too. Broken windows, rising damp, structural cracks, fading paint or a damaged roof can all be fixed – but before paying for this work, you should confirm that it is worthwhile, and will add more value onto your property than it costs to do them. After all, not all small fixes are worth doing.
Why is it important to know how much my house is worth?
The value of your property can be influential on the opportunities that are available to you. Plenty of people downsize in later life to pay off their mortgage, or use the funds from a house sale to fund their dream retirement. Understanding your house’s value can enable you to budget accurately for these things.
You should also be conscious of local market trends and economic conditions that undoubtedly impact your property’s value. If you sell at the wrong time of year, then it can significantly reduce the amount that you receive for the house – although you may not realise this if you don’t know your property’s true value.
It is also important to get more than one expert to value your house, as this can stop you being ‘led astray’ by an estate agent who exaggerates the valuation.
Are probate properties and tenanted houses more or less valuable?
Unfortunately, if your property has tenants living in-situ, or is in terrible condition as a result of being inherited from a loved one who has passed away, it can significantly reduce the value of your house. These types of properties are considered less desirable for potential buyers, primarily because they may be unable to live there themselves.
If you want to sell your house fast in any condition, We Buy Any Home can help. Contact us today.
