Many of us turn to the internet to find answers nowadays. Whether you're looking for a nice restaurant to have dinner, or recommendations for a plumber, we search all sorts on a daily basis. One of the commonly searched terms in the property world is to find out the value of a house. Here we cover how you can estimate your house's value online.
We all like to be nosy from time to time. Research what your neighbour's houses have sold for recently and compare them to yours. Do they have the same number of bedrooms and bathrooms? If pretty similar, you could get a good idea of your house's value.
Be on trend
Local and national property price trends can be a good indicator of what your house is worth. The Land Registry provides average house prices per country and region, as well as per house type. This data can be a little out of date so bear this in mind when having a snoop.
Some mortgage lenders have house price indexes.Halifax's is based on approved mortgages, and shows a map of house prices. Bear in mind that an approved mortgage doesn't mean the sale has gone through.
Some places online provide free house valuations, but these can be drastically inaccurate or provide a large range in values. You can type a postcode into Zoopla to find out data on previous sale prices, market climates, property characteristics, and asking prices. Alternatively, you can go to Property Price Advice which looks at local sold prices and uses an algorithm to give you an estimate.
Be aware of change
House values change with time and market trends. On Nationwide's house price index, you can enter when you purchased your house and how much for, and it'll give you an estimate of how much your house could be worth now. If you've made changes to your home in this time such as an extension or a renovated bathroom, this valuation doesn't take that into account.
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