Re mortgage valuation this week!

M1k3H said:
Yeah but that's if you want to sell. If you don't what's the point other than paying more for your mortgage cause your LTV is higher?
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What?

If you bought it at £100k with £10k deposit, you owe £90k

If your house is then later valued at £200k you don't then magically owe more money on your mortgage, you still owe £90k (assuming you hadn't paid anything off, unlikely I know).
 
bayo000 said:
Having lived in couple of EU countries I find it weird how little focus floor area gets in the UK especially as most houses are similar layout but can vary in overall size. Sometimes the EU adverts don't even have the asking price or number of rooms in the title and instead they say price per sqm.

...
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When we were looking at houses, ten years back, very few gave square footage as part of the description. Generally, only the high-priced/ very large ones did.

It would be very helpful if both internal area and plot size were requirements when listing.
 
baz178 said:
Well how do they work it out then ?
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It's basically finger in the air, they don't even visit the property in a lot of cases and just work it out based on local knowledge of the market and looking at what other similar houses have sold for.
 
tom_e said:
It's basically finger in the air, they don't even visit the property in a lot of cases and just work it out based on local knowledge of the market and looking at what other similar houses have sold for.
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He came out and measured and had 20 mins looking around the property.
 
potatolord said:
When we were looking at houses, ten years back, very few gave square footage as part of the description. Generally, only the high-priced/ very large ones did.

It would be very helpful if both internal area and plot size were requirements when listing.
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4 bedroom and 2 bathrooms.
 
baz178 said:
He came out and measured and had 20 mins looking around the property.
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And that's how they do it.
Decor etc isn't really fundamental.
Someone new might not like it and just rip it all out anyway.
A nice skirting board etc isn't going to change value of house materially. But floor space, garden size, area, etc are.
 
baz178 said:
4 bedroom and 2 bathrooms.
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Given some new builds have bedrooms that won't fit a bed, those descriptions aren't very helpful.

My house meets that description, but is huge compared to new builds.

I just checked 4 beds in my area on rightmove. None gave square footage and one didn't even give room measurements (what does "spacious" really mean?)
 
potatolord said:
Given some new builds have bedrooms that won't fit a bed, those descriptions aren't very helpful.

My house meets that description, but is huge compared to new builds.

I just checked 4 beds in my area on rightmove. None gave square footage and one didn't even give room measurements (what does "spacious" really mean?)
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3 will double beds and the 4 one will easy fit a single bed, good size kids room.
 
potatolord said:
Given some new builds have bedrooms that won't fit a bed, those descriptions aren't very helpful.

My house meets that description, but is huge compared to new builds.

I just checked 4 beds in my area on rightmove. None gave square footage and one didn't even give room measurements (what does "spacious" really mean?)
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Yeah ours is a 3 bed. But it's a tiny 3 bed.
Its a 2.5 bed at most.

The sq ft of this place is tiny. Even though its detached
 
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413x said:
Yeah ours is a 3 bed. But it's a tiny 3 bed.
Its a 2.5 bed at most.

The sq ft of this place is tiny. Even though its detached
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It's probably still worth more than my valleys behemoth.

I'd love to see an analysis of build size over time. Gut feel is that took a dive in the 90s and got worse from there.
 
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