The majority of homeowners remain in the dark about the true value of their homes, according to research from regulated property buyer Good Move.
Figures revealed that while UK house prices have increased by 365% over the past three decades – rising from £58,000 in 1990 to £297,000 today – 78% of homeowners did not know how much their property is worth.
More than half (64%) also undervalued their home when selling, highlighting a knowledge gap that could leave many sellers at a disadvantage in the current market.
Good Move said that for homeowners preparing to sell, understanding property values and market conditions is crucial to securing the best outcome.
The firm has published guidance to help sellers plan ahead, covering mortgage considerations, valuations, market conditions and the costs associated with selling.
The advice includes reviewing existing mortgage terms to identify any penalties for moving early, as well as planning for whether the sale will fund a new purchase immediately or in the future.
Good Move recommended obtaining a professional valuation from a RICS-regulated surveyor, agent or valuer and asking whether improvements could increase the property’s value.
Sellers were also encouraged to research whether the market currently favours buyers or sellers before deciding when to list their home.
The firm highlighted that selling costs can add anywhere from £900 to £12,700 to the average property sale, depending on whether sellers use high street agents, online services, or sell privately.
Nima Ghasri from Good Move said: “Selling a house is something that is truly personal, and when you start to think about making a sale, it’s important to get into the details.
“Overall, it is important to remember that the market is dynamic, and whilst there are economic periods that are portrayed as optimal, selling your home is a decision you must make when it feels right for you.
“The key is to understand the conditions, plan carefully, and make decisions that work for your personal lifestyle, goals and timeline.”
