Knowing the value of your home should be close to the top of your to-do list when it comes to remortgaging, moving or even renewing home insurance.
Various factors influence the price of your property at any given time, and the value does change over time.
All of the factors listed below affect house prices:
School catchment areas
Size and layout
Crime rates of the local area
Storage space within the property
‘Hidden factors’ such as the boiler condition and plumbing issues can also be affect the value
Where should I start?
When beginning to get your house valued, it is a good idea to research similar houses for sale within the local area, as this could provide a good indication to how much your house is worth, particularly if they are on the same street.
Once you’ve done this, you can get a valuation either online or through a local estate agent. Online estimates are instantaneous, but an actual valuation from an estate agent will provide a more accurate figure.
By getting more than one valuation, you can get a better idea of the accurate valuation of your property.
How can I add value to my property?
Adding value can be done in a number of ways, and range from fairly simple and straightforward maintenance to extending or converting the property.
Start with the outside of the house, and give the house a lick of paint, weed the garden or take care of the guttering. These cosmetic improvements will immediately improve the value of the house.
If you want to improve the value more significantly, then a home extension or a loft conversion may be the way to go. If these are out of the realms of possibility, then a new fitted kitchen or bathroom should give the property value a little boost.
Speak with our mortgage advisors to find out more.