As the property market fluctuates, it’s important to keep an eye on your home’s value to ensure you’re making the most of your investment. Knowing when to recheck your property’s value can help you make informed decisions, whether you're considering selling, remortgaging, or simply assessing your financial position. Here are five key signs it might be time to reassess your property’s value.
1. Significant market changes
If there’s been a noticeable shift in the property market—whether due to interest rate changes, new government policies, or economic conditions—it could be a good idea to recheck your property’s value. The housing market can fluctuate, and these changes can impact the value of your home, either positively or negatively.
2. Renovations or improvements
If you’ve made significant improvements or renovations to your property, it’s worth reassessing its value. Adding an extension, modernising the kitchen, or upgrading the bathroom can all increase your home’s market value. A professional valuation will help you understand how much these upgrades have added to your property’s worth.
3. Changes in your neighbourhood
Property values are often influenced by the surrounding area. If there have been significant developments nearby, such as new transport links, schools, or shopping centres, your property’s value could be affected. On the flip side, if your neighbourhood has seen a decline in amenities or has experienced a rise in crime, it may have an impact on your home’s worth.
4. You’re planning to sell or remortgage
If you’re thinking about selling or remortgaging, having an up-to-date property valuation is essential. It ensures you set the right asking price or assess the equity in your home for remortgaging purposes. An accurate valuation helps you avoid overpricing or underpricing, giving you the best chance of achieving your financial goals.
5. You’ve had the same value for several years
If you haven’t checked your property’s value in a while, it may be time for a reassessment. Even if the market hasn’t experienced drastic changes, your property may have appreciated or depreciated over time.
If any of these signs apply to you, it might be time to get your property valued.
Contact us today for an expert valuation, and ensure you're making the right decisions with your property.
