There's a lot to consider when you're thinking of selling your home - one of these is working out how to value your house. The best and most accurate way to find out your home's value is to ask an estate agent or surveyor.
You might need to know how much your house is worth to get a home insurance quote. If this is the case, there are other things you can do to get a faster valuation.
Here's a handy guide to valuing your home.
What factors influence my home's market value?
The market value of your home depends on several factors including:
- Location
- The size and layout of the house
- The age of the home - For example, older houses could be listed buildings
- Crime rates - you can find these on the Police.uk crime mapping website
- Flood risk - you can check for England and Wales, Scotland, and Northern Ireland
- If the house suffers from subsidence
- Distance to local amenities
- School catchment areas
- Good transport links
- The condition and upkeep of the house
How do I find out the value of my house?
1. Find houses that are sold near you
It's a good idea to look online at how much other houses in your area have sold for. Services like Zoopla can give you an approximate figure for the value of your home.
Just enter your postcode and select 'search'. You should then see homes in your area along with:
- When they were last sold
- How much they sold for
- The current estimated value
This gives you a rough idea of your home's value. Unless the houses nearby have sold recently, it's hard to get a completely accurate value.
2. Look at price trends in your area and nationally
It’s also worth looking at how the housing market is doing across the country.
The Land Registry's report is probably the most reliable house price index as it's based on actual sales. You can filter by:
- Property type - Detached, semi-detached, terraced houses, flats and maisonettes
- Area - By country, region, county and local authority
- Date - You can go as far back as January 1995
You should be able to see average national house prices as well as the:
- Annual percentage change in house price
- Monthly percentage in house price
- Number of properties being sold - both new builds and existing properties
3. Use a house value calculator
If you’re looking for a rough estimate of your home value, you can access a free house price calculator online such as:
- Zoopla
- Rightmove
- The Land Registry's calculator
- Property Price Advice
- Mouseprice
Most of these services require you to register before you can see your property's value.
4. Look at local asking prices
Local asking prices can indicate how much you could get for your house if you sold it today, and also how many properties are sold on a regular basis.
Remember to use a few different sources to get the best idea of the local housing market.
5 . Get an estate agent or surveyor to value your house
You're going to get the most accurate valuation from an estate agent. Try and get a few of these to get a good idea of the value.
Estate agents should provide you with the valuation for free, provided you're thinking of selling your property. If you decide to hire a surveyor, they're likely to charge you to do an accurate valuation of your home.
How much does a house valuation cost?
This depends on the type of valuation you get. There are a number of valuation options to consider, each offering varying levels of information.
Our table gives an overview of your options, their costs, and the potential pros and cons of each:
| Type of valuation | Cost |
Pros |
Cons |
| Online tools | Free | Instant and convenient |
Risk of inaccuracy |
| Estate agent | Free | In-depth knowledge of the local market |
Valuation can be affected by commission (potentially overpricing to get a listing) |
|
Bank |
Free |
Covered when you get a mortgage |
They may not look into wider factors like location, decor etc, that influence value |
| RICS level 1 |
£300 - £900 |
Cheapest RICS survey |
Least comprehensive. Offers a basic overview and does not go into much depth. |
| RICS level 2 |
£400 - £1,000 |
Offers much more information than Level 1 for a reasonable price difference | Less comprehensive. Not suitable for older, unusual, or run-down properties, or if major renovations are planned. |
| RICS level 3 |
£630 - £1,500 |
Most comprehensive. A thorough examination of the structure, fabric, and services of the property. |
Pricey and might be too in-depth |
How to add value to your home
Adding value to your home doesn't have to leave you out of pocket. There are a number of things you can do to modernise your property and make it more appealing for potential buyers.
Here are our top tips for adding value to your home:
Fix superficial defects:
Minor defects can make the home look run-down, so keep an eye on things like:
- Broken lightbulbs
- Dirty walls and peeling paint
- Mouldy sealant in bathrooms or kitchens
- Badly fitted laminate flooring
- Dripping taps
- Squeaky floors, doors or stairs
Clean up the garden:
Make sure grass isn't overgrown, clear any pathways, and cut back any overgrown trees or bushes.
A well-designed garden is appealing to buyers, so putting some extra care into outside areas is a great way to create a sense of more usable living space.
Redecorate:
Redecorating is a popular home improvement and can be done at a relatively low cost. If the decoration is old and outdated, repainting the walls can be a great way to attract potential buyers and boost valuation. Neutral colours tend to be most popular with buyers and can make your home look fresh and modern.
Declutter:
A clean, tidy room can make a space feel bigger, so it's worth considering if certain rooms are overcluttered.
Kitchen or bathroom renovations:
Kitchens are a main focus for many buyers, and even if you're unable to afford a full renovation, there are small improvements you can make. You could repaint units or replace cupboard handles for a relatively small budget, giving your kitchen a new lease of life.
For bathrooms, you'll want to focus on making them look hygienic and fresh. Re-grouting, and removing limescale from the walls are good places to start, and you could even consider replacing taps. Neutral shades are a good option for bathrooms, so a fresh lick of paint will go a long way into making your bathroom look more appealing to home buyers.
Make your home more eco-friendly:
A sustainable home is not only a good investment in terms of energy savings but also in property value. A sustainable home might include: high-quality insulation, energy-efficient appliances, and renewable energy sources like solar panels or heat pumps.
Bigger projects:
Bigger projects, like adding a conservatory, loft conversions, or converting a garage, can boost your home's value significantly.
If you can't afford an extension or conversion, you could even get planning permission. You would need to pay for the survey and drawing up the designs, but it might be appealing to potential buyers to know the council have already approved it as an option.
Should I get a house valuation on a property I'm looking to buy?
The bank will ratify the value of the house when you apply for a mortgage anyway. And if it's been overvalued, they may not lend to you.
But surveying can still be a good idea, as not only does this allow you to see if your house is overvalued, but it can pick up on potential issues too.
Will my house's value go up in the future?
Yes, your house's value will almost inevitably go up. Most experts predict UK house values will generally increase over the next few years. Lower mortgage rates and easing affordability tests should encourage more buyers.
According to a property price analysis, UK home prices could rise by 21.5% in the next five years.
But your home's specific value depends on its location, condition, and unique characteristics. It'll also depend on overall economic health, wages, and inflation, which play a big role in house value trends.
For example, there’s a sizeable difference between the North-South Gap. It’s predicted that at the end of 2026, the average home in the North-West should be £272,732, £266,417 in Yorkshire, and £713,987 in London.
What's the difference between market value and rebuild cost?
Your home's rebuild cost is the amount of money it would take to completely rebuild your home after a disaster like a fire or a flood. This is the cost to cover materials and labour costs only. When you get a home insurance quote, we'll estimate this for you.
Your home's market value also considers wider factors like desirability, local amenities and crime rates. If you've just bought your house, its value is what you paid for it.
When you get a home insurance quote, you should expect your home's value to be more than its rebuild cost.
How does my home's value affect my home insurance costs?
The value of your home is just one of several factors that impact your home insurance costs. And many of the factors that influence your home's market value also impact your home insurance costs, including:
- Rebuild costs
- Risk of burglary
- Risk of flooding
- History of subsidence
- Number of bedrooms
- Age
"A house with a high value could mean that it's a larger home, potentially a listed building in an wealthy area. These factors contribute to its value, but they're also risk factors that increase the cost of a potential claim, or the risk of burglary. It's the combination of these factors that impact how much you pay for your home insurance
What our home & lifestyle insurance expert says
Being as accurate as possible with both your home's market value and its rebuild cost is important to ensure you have the right amount of cover."
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*Confused.com data. October 2022 - September 2023.
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