Whether you’re buying, selling or letting a home, thinking of remortgaging or just curious about the current market, it is always good to have a realistic idea of your home’s value.
Given the current economic climate, and with the continuing cost-of-living crisis, there is no better time to evaluate the price of your most valuable asset, your home.
Your home’s value is the price another buyer is willing to pay to purchase your home and is determined by a number of factors, including:
Location: House prices are significantly impacted by desirable postcodes, the local area, proximity to good schools, public transport and other local amenities.
Size and condition: The size and layout of your home will also affect its market value, as will its overall condition and presentability. It isn’t just the overall footprint of your house, it’s also how you use that space that affects the price of your home. View our tips for ensuring your property is viewing ready here.
Comparable homes and local prices: One of the best ways to calculate a property’s value is to look at how much similar homes in the area have sold for. Looking at recently sold properties in your area, comparable to your home in features and location, will give you a good idea of your property's potential worth.
Current market conditions: Housing market trends always have a bearing on how much a house sells for. Supply and demand, the number of properties up for sale and the number of buyers competing for them, can have a major effect on the value of a home.
Joe Wilkes, Branch Manager for our Harpenden office elaborates: “Lots of things come into consideration when valuing a home, the aspect of the plot, the balance of room proportions, potential to extend, £ per square foot achieved by other sales in the area and values per square foot are determined by size of house, location and age of the building. There can be massive variances in £ per square feet even within a single town.”
The bottom line is that every property is unique, and many varying factors can influence a home’s value.
If you’re looking for an estimate of your home’s value, our Instant Online Valuation tool can calculate this in just seconds.
However, the best way by far to get an accurate valuation for your property is through your trusted local estate agent. Click here to book a free, no obligation property assessment by one of our award-winning property experts.
Considering selling, letting or buying a home in 2023? Find out if now is the right time to make your move: ashtons.co.uk/valuations.
