How does the online estimation of your house work?
You are right to wonder how an online appraisal tool, which has never seen your house, can determine its value. But once you have entered your home's characteristics (area, location, etc.), it compares this information with an extensive database that is always up-to-date! An algorithm then calculates the estimated value, which you will find in your home's appraisal report.
Enter the exact address of your house.
Select the your type of house (detached, 3-front, townhouse).
Enter the properties of your house (EPC/PEB, number of rooms, parking spaces, floors, etc.).
Determine the general condition of your house and the quality of materials.
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What are the criteria for an online appraisal of my house?
Besides the essential criteria for the online appraisal of a flat or any other property, the following additional features are taken into account when appraising a house:
The location of your house plays a decisive role in the appraisal. It influences the quality of life, accessibility, attractiveness and consequently interest in your property. High demand has a positive influence on the selling price.
The online valuation tool takes into account the price per square metre. Thus, a larger surface area will have a positive impact on the value of your house.
This score indicates the home's energy performance. Buyers are paying more and more attention to this criterion, so a house with a good energy score will generally fetch a higher price.
As these determine access, quietness and the amount of natural light in the house. So the type of house: terraced, semi-detached or detached, is taken into account by the online estimation tool.
Just as the area of building is taken into account in the estimation, external space(s) also add value. Built-up and unbuilt areas are not valued in the same way when estimating the price of a house.
Frequently Asked Questions
The more information you fill in, the more accurate and reliable your estimate will be. However, if you cannot fill in certain fields on the form, you can just skip them (as long as they are not mandatory). The report will tell you the reliability index of the estimate based on the information available.
Yes, the We Invest online estimation tool is based on constantly updated data, so fluctuations in the property market are reflected in the tool's calculations.