Are neighbouring houses a good gauge?

[ToadRage]

I was discussing inheritances with my Mum and got to thinking about my Grandmothers house. She stills lives in the 3 bed house in which she raised her family and shows no signs of wanting to move. Despite a fairly new extension and kitchen my Mum doesn't think Nanas house will be worth much when the time comes. I know the market fluctuates but the next door house sold for over £500,000 only a few years ago so would assume Nanas would be worth a similar amount. Is this a fair assumption or do i not understand house valuations. I have never had sell a house myself so don't know the ins and outs.

You sound grabby. Leave Nana's assets out of your hopes for the future. Your Mum is subtly telling you the same by saying it won't be worth much.

Your Gran is still alive and still happily living in her house yet you're already trying to figure out how much she's worth and how you'd go about selling a house that isn't yours?!

This

Can you think of any reasons why your DM isn’t keen to engage in this kind of speculation?

Not every family is against discussing inheritance. In fact, in some families, it's highly wise to ensure you do - for a multitude of reasons.

OP, if the house and land is of a similar size and state of repair then yes, using Zoopla to look at the prices houses around you sold for can give you a good idea of current value. It will only be a wide guesstimate, but it can be helpful in terms of planning.

Because - shock - sometimes you need to plan how inheritances work for everyone's benefit and that can involve, guess what? Talking about it.

What's it got to do with you

We discussed this too mainly because we had unusual land which was unguessable according to some members. It also had to be discussed to split it. Doesn't mean we wished to inherit quickly!

Market generally dropped in most places from few years ago and it depends on the state of the house. Safe to say it would be less less than 500k.