Likewise, we are not intending to rely on our home to fund our retirement but it is part of our net worth and can be used (one way or another) should the need arise.
I had to get a formal valuation done when I borrowed against our home to invest in my employer earlier this year. I was pleasantly surprised to find that the mortgagee value was high enough to allow me to borrow the full amount needed. Now that I am paying down the mortgage and have no plans to redraw or to sell, the value is largely irrelevant to our financial position.
Budgeting is a skill practised by people who are bad at politics.