Owning a home in London is no small feat. So How much is my house ?

It’s a question that homeowners would be interested to know. Certainly, knowing your house’s worth would help you in carrying out property transactions effectively. 

Whether it’s buying and selling, taxation, mortgaging a property, after home remodelling, or just curious to know, in every scenario an accurate house valuation is the foundation of your next big move.  

How much is my house : Major considerations for property appraisals. 

Make sure you retain your house worth. You can start over by booking a house valuation with us or make a self check at your home’s worth by determining if your property aligns with the following factors. 

1.Impact of physical factors on property valuation: 

The first crucial point of discussion for house valuation is inspecting the physical traits. These can be based on strength, function and the aesthetics it poses.

Size of your house: 

The amount of livable space directly impacts its value. More sq.feet of your property in reputed neighbourhoods would mean higher valuations.

Layout or infrastructure: 

A single story functional house with integrated developments can take over double stories with wasted space and corridors.Thus, your house layout should be in accordance to meet the profile of your future buyers.

Curb appeal: 

Curb appeal can significantly impact your house valuation. Additionally landscaping elements like well maintained gardens, clean pavements, furnished exterior enhances visual appeal and ultimately a higher market demand for your property.    

Unique amenities: 

In London, the houses equipped with energy efficient sources are valued the most, as they have low running costs. Such as insulated walls and solar powered systems. 

Maintenance and age of the house: 

Your house age and maintenance level could impact the value of your house. A well-maintained house with up to date heating systems, air conditioning system, fixtures and fittings would require minimal additional cost and hence attract the buyer instantly. 

2.Methods used for property valuation: 

The estimated value of your property can vary with respect to the size and type of your property, also known as asset class. Both residential and commercial valuations would factor in different strategies or sometimes experts might draw comparison between all 3 methods to reach a conclusion.  

Sales comparison approach : 

It’s the traditional approach done for valuing houses intended to serve residential purpose. Under this process, the valuer would take into account the previously sold houses with the same asset class and per.sq feet of the house. It proceeds further by removing any discrepancies between similar properties like absence of modified amenities, before reaching a final conclusion. 

Cost approach appraisal: 

Another method that calculates your house current value is the cost approach method. In which the appraisal will add the cost of construction incurred in making the house to the value of land. Whereas cutting out costs for the physical structure that depreciates over time. 

Income approach: 

Last but not least, the income approach estimates the property value based on its potential to generate income. This valuation method is suitable for rental properties, which determines the profitability of buying your house from investors perspective. The higher the net operating income the more upscale valuation  

3.Impact of external factors on property valuation:

Some of these factors are beyond the control of homeowners, but savvy homeowners can capitalise on opportunities by adapting to these real estate market trends.  

Location: 

A good location is where desire and convenience meets. Impacts of location on property valuation can be significant and could vary across different regions, cities or even districts. For example: Conducting a House Valuation in Central London can be higher vs the properties in outer London. 

Some of the highest yield areas in London are Kingston, Chelsea, Mayfair and Belgravia. A few other examples where your house can be significantly valuable: 

• Surrounded by major administrative boroughs. 
• Nearby tourist destinations and hotspots. 
• Areas under developing infrastructures ( commercial or residential) 
• Areas with popular amenities for entertainment and healthcare facilities. 
• Closer to public transportation facilities.
• Properties that lie near Popular Landmark sites. 
• Housing in green spaces and less polluted environments 

Environments: 

A good environment can substantially increase the worth of your house as it signifies improved quality of life. The typography of your house is another factor that counters the level of safety where your property resides such as exposure to environmental hazards or higher risk of flooding. Besides this, areas with low crime rate and green spaces can be valued at higher prices. 

Market Trends:

The fate of property valuation in London can be uncertain with changing buyer interest, housing trends and economic shifts. 

One of the greatest examples of economic shifts is remote working started during covid pandemic, which drove buyers’ interests towards more quiet places. Meanwhile, the utility for work from home has increased the demand for spacious homes in the suburban region of Chiswick. Lately, the ESG housing has made far zoning areas worth valuing with open green spaces and less carbon footprint. 

 ESG trends in real estate  Source: pexels

Policies and regulations: 

Finding the worth of your house can be tricky to navigate at times of changing government policies, taxations and regulations. For instance, policies such as affordable housing schemes may tend more buyers to enter the market thus higher demand causing property’s value to increase. Likewise, lower rental yields due to strict regulations could make less attractive opportunities for investors. 

Property Valuation London | Surveying Corp:

Get a reliable answer to ‘How much is my house’. By real time property analysis we help you save time and secure your finances by providing the accurate value of your property.

Market knowledge: 

Our expert professionals drive accurate valuations using local market insights. This includes current market conditions, future developments, government policies, historic sales data, community traits and many others.   

Access to database: 

We use up-to-date and reliable databases, as well as market research reports to analyse large datasets and uncover patterns that give you the most accurate valuations. 

Precise Interpretations:

Over the years our professionals have honed expert skills on all types of London property valuations. We carefully analyse all the information and factors that aligns with your industry characteristics and specific goals to comprehend the most reliable property valuation reports. 

Conclusion: 

Understanding the factors that influence property valuations in London is essential for homeowners and buyers alike. However, hiring an industry expert for property valuation can help you with their complex market knowledge and analytical skills to stay upfront and competitive in the real estate industry.