By Nasir Remy
What is your home truly worth? If you’re like most homeowners in the UK today, you may not have any sense of what your home is actually worth. Sure, you make house payments every month, and you have some sense of what you could sell it for, but do you really know your property value? What if there was a tool online where you could just type in “value my house online free” and get results? Actually, there are some ways to get a good sense of what your property is worth with a quick online search. Here are your top three options.
- Online Real Estate Platforms: There are many platforms available today like Zoopla that will help you get a closer look at what your home might be worth. Here you’ll find tools, calculators, and even current real estate listings. This will give you a ballpark idea of what your home is worth. However, you must compare homes that are similar in size to yours and have similar features. You need to look at at least 2 to 5 homes in the area to get an idea. It is important to only look at homes that have been sold in the past 6 to 9 months. Home prices have changed significantly over the years and they also fluctuate frequently; so it is important to look at recent listings to get a clear sense of how much your home is worth.
- Online Estate Agents: In addition to DIY platforms, there are also estate agents who offer simple tools to help you obtain a free, fast home valuation. Some of these tools only ask for your postcode and others ask for more details about your home like size, the number of bedrooms and bathrooms, location, when the home was built, and what features it has (e.g. air conditioning, central heating, pool, etc). In general, online tools that only ask for your postcode tend to give you a rough estimate of the value of your home in your area. Tools that only use your postcode to assess the value of your home generally tend to give an average price of a home in that particular location. However, online tools that ask for more details tend to be more accurate. It is important to get quotes from several online tools so that you know the range of prices of homes in your area. The majority of these online home value tools are free for use, but since they’re typically sponsored by an estate agent, they will often also ask you for additional information and permission to contact you.
- Cash Buyers: Finally, today there are several cash buying home agencies that have online platforms. These agencies offer a very quick way to get a quote on your home. For example, GoodMove asks you to enter your postcode, and within 24 hours, we will give you a rough estimate of the value of your home.
Can Everyone Value Their Homes Online For Free?
Unfortunately, these methods don’t work for everyone. If you live in a rural area or have an isolated home in the countryside, chances are that you may not be able to get a price on the home value with online tools. In such cases, the best advice is to consult with a real estate agent. These professionals have a huge data bank of homes sold all over the country and they can provide you with a rough estimate of your home value. However, when you ask an estate agent for a favor, the expectation is that you will sell your home with him or her, so make it clear that you just want to know the value of your home and may consider selling it in the future so that there are no expectations.
If you’re one of the many for whom these tools don’t work, you could also speak to your neighbours and friends. Sometimes you may have to speak to your neighbour or friends in your area who have just sold their homes for the property value. If your house has all the same features as your neighbours, then the price will be accurate.
Why Know the Value of Your Home?
In general, it is important to know the value of your home if you are considering selling it. Understanding the value might actually help you prepare for the sale.
