How can I find what my house is worth?

When thinking about moving home, you will understandably want to know how much your current house is worth. This will ensure you don’t short change yourself when putting it up for sale. But how can you find out what your house is worth? Well, there are a number of things you can do:

#1: Find out about house prices near you 

Using websites such as Zoopla and Rightmove, you can find out how much properties in the local area have been sold for. While house prices do fluctuate, you can get a good idea of the current market value for properties in your area by filtering your search option to highlight the house sold in the last year.

You can also use these sites to check on current properties for sale in your area, as this will give you an understanding of what houses in your locale are currently worth. However, check to see if anything has been done to add value to the homes listed. Certain modifications can be used to add value to a property, and you might want to consider the option to maximise your sale price.

#2: Check property price trends  

Using the UK House Price Index, you can find out what houses are for sale in your area, and how much they are going for. This will give you a good idea of the price ranges you should be looking at for your home. The data for the house price index is taken from the Land Registry, which uses a range of factors to determine house prices. These factors include property type, location, the local crime rate, flood risk, and the schools and local amenities in the area.

#3: Value your home

Several websites can offer you a free valuation of your home, and while you won’t get an exact price, you can still get a ballpark figure. These sites include Zoopla, Property Price Advice, and Mouseprice. By entering your postcode and answering a few simple questions about your property, you will be given a bespoke price which will also factor in other data, such as previous sale prices for your home and the market climate. There is also the option on some websites to book a face to face valuation of your home too, so this is something to consider, especially if you want to speak to a real person for advice. Local estate agents can also offer you a valuation of your home, so this is worth considering, as you will be able to draw on the experience of people who have an up to date understanding of house prices in your local area.

#4: Check housing market forecasts

Without the benefit of a time machine, you can’t time travel into the future to find out how house prices in your area will change in the months and years to come. However, you can use websites such as http://www.housepricecrash.co.uk/ to track house price predictions, as they use a range of statistical data to determine what house prices might look like in the future.

There are no guarantees that the figures you find will be correct, but you will get an indication of whether prices in your locale are likely to rise or fall. You might want to use the information given to help you determine when to put your home on the market, although you should still speak to a letting agent and/or use other pieces of information for more accurate advice.

#5: Install something

If you have a smartphone or tablet, install Rightmove’s iPhone or Android app to stay up to date with house prices in your area. You can also install Property Log onto your laptop or desktop web browser to stay in touch with house price trends. By staying up to date with local house prices, you will be able to value your home accordingly and use any price fluctuations to raise or lower the price of your property during the selling process.

There are all kinds of expenses to cover when moving home, so to help you stay financially afloat, you should do all you can to maximise the sale price of your home.

Get Mortgage Advice

At CIS Mortgage Advice, we’ve been helping subbys find the right mortgage when moving home, working with lenders that base their affordability calculation on your gross CIS income rather than net profit, meaning you could borrow up to 5 x more on your mortgage.