How much is your house worth?
Do you know how much your house is worth or do you not have any idea?
Our home is probably the most valuable/expensive thing we own yet so many of us have only a very rough idea of its actual worth.
That is odd really isn’t it? I bet we know exactly what our council tax bill is each month or what we spent on our weekly shop but for some reason (perhaps because it seems complicated?) many of us don’t know the bigger picture when it comes to our house value.
It is important to know where you stand financially though so this is important stuff!
I am not one for burying my head in the sand. I really like to know where I stand in life in every area from relationships, to work opportunities and especially in regard to my finances. I find that knowing where you are at helps you make good, solid decisions whereas hiding away from things tends to cause problems to accumulate in the long run.
I have been thinking recently about my future in terms of finances and how important it is that I start seriously putting money away for the future. Inevitably this causes me to look at house value and the terms of my mortgage and equity and whether or not it would be useful and profitable to consider a move.
Do you know how much your home is worth?
Now there are a number of ways you can assess this. One is to pop online and see how much comparative houses on your street have sold for recently. This can be misleading though becuse there can be factors you just dont know about impacting the price of the other houses, Another way is to get the estate agents out. I did this once for this very purpose and was accosted by emails, mailing s and phone calls for weeks and weeks afterwards. Aaagh!
Another way to check the value of your house ( and a super simple one at that is to use this new nifty tool to see how much your house has made you – it shows you how much your home has gone up in value since you bought it. You can have a go here
It only takes a moment.
So what did I find?
Pretty impressive stuff don’t you think – I only popped in my postcode and a second later I had the information I wanted!
This is really useful to know in terms of whether or not I consider releasing some equity, consider moving or just want to have good look at my financial portfolio.
So now I can answer confidently that I do know what my house is worth and as it is my biggest asset this is actually extremely useful information. It is always better to be informed than not and using this handy tool will save you hours fielding estate agents before you have decided whether or not a move is on the cards!