ST IVES-based Move with Us, one of the UK’s leading estate agents, has launched a new online tool that can help homeowners work out how best to add value to their property through home improvements, such as adding an extra bedroom that can add nearly nine per cent in value.
The new free service enables homeowners to highlight completed improvements, so that these can be factored into the estimate, proving a more accurate reflection of the house price.
Based on the average house price of just over £165,500, as reported by the Land Registry, adding an extra bedroom could increase the value of the average property by just over £14,500. Less expensive options include adding a central heating system, which could increase the value of a property by more than five per cent.
The online estimate will also show local house prices and will provide examples of similar properties that are on the market and are sold subject to contract.
Robin King, Move with Us director, said: “Over recent years a number of people have chosen to improve rather than move and in doing so have increased the value of their homes but do not know to what extent.
“Using this new online tool, they will be able to get a clear idea of the benefit of their efforts and gain an indication of their property’s current value.
“Latest figures from our research indicate that just over 80 per cent of customers look online initially for an estimate before considering selling, so this new tool will be invaluable in helping prospective sellers understand their likely selling price.”
INFORMATION: The company, which was founded in 1997, now has around 300 employees. The tool is at http://www.movewithus.co.uk/onlinevaluation.