How to Calculate House Value in the UK
- 1). Write down the price you purchased a house for or its sale price if it's a property you are thinking of purchasing. Write down the specifications of your home as these are what the value will be based on. Include number of rooms and size of gardens. If your home has an upstairs bathroom, double glazing, a garage, off-road parking, a corner plot, a converted attic, planning permission or en suite facilities, these will all add value. Write a plus symbol next to any that apply to your house. Out-dated or worn interior décor and fittings, a busy road, bad location or lack of parking could detract from the value of a property, so put a minus symbol next to all that apply and add any others you think of.
- 2). Look in the local newspaper and online at houses currently for sale through realtors in the same area as your chosen property. Match the specification you've already written out for your house to these. Compare your specs with theirs.
- 3). Look at the prices on nethouseprices.com or houseprices.co.uk (see "Resources"), which will tell you what houses in your chosen street in the UK have sold for. This will give you more of an idea of the value of a house, especially if there are homes of a similar specification to yours that have gone on sale recently. Remember to bear the interior of the properties in mind, as other houses in the same street could have a conservatory, landscaped garden, attic or basement conversion and extra bedrooms, which could add to their value.
- 4). Pay attention to local newspapers and news channels for developments taking place in your chosen area as some of these can have an effect on the value of a property. For instance, if there's a new school, doctor's surgery or mall being built then these could bring people to the area and add to the value of a property. While if a major highway, factory complex or dump are being planned near to the property, these could put potential buyers off and bring down the value of a house.
- 5). Combine all of these factors to get a rough estimate of the value of the property.
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