Get Your Free Home Evaluation in Ontario
Home Evaluation In Ontario
If you own a home in Ontario, you may have wondered exactly how much you can sell it for, especially with the increasing real estate prices.
You could spend hours looking at what similar properties are selling for online, but there’s a better way to get a more accurate idea of what your home would sell for—and that’s with a property value assessment.
If you’re not familiar with the concept of an Ontario home evaluation, we’re here to help. When a home evaluation is done by a professional, they consider several factors to help determine the value of your home.
These are some of the most important factors to consider when deciding on a home’s value:
- The age of your home.
- The amount of square footage your home has.
- Where your home is located.
- The number of bedrooms and bathrooms it has.
- How well it was constructed.
- The condition it is currently in.
A property value assessment is not a permanent number, as it also reflects current market conditions and what other similar properties in your neighbourhood are selling for.
A proper Ontario home evaluation serves many purposes:
- It helps both buyers and sellers know how much a home should sell for.
- Often when a family is considering a move, the first step is to have their home evaluated. Knowing what their home is worth and what they can expect to receive for it assists in budgeting for the purchase of their next home.
- When couples are splitting up, their lawyers may advise them to get an evaluation to assess the market value of their home.
- Before a property is sold by the “estate,” the estate’s lawyer will recommend a home evaluation to probate the taxes.
- If homeowners are interested in refinancing their mortgage (renegotiating their existing mortgage), then a home evaluation can be used by banks to determine the new rate.
Benefits of a Free Home Evaluation
There are several benefits to having a free home evaluation done on your Ontario home:
- You’ll have a better awareness of how the housing market works. Watching how prices go up and down and rapidly switch between a buyer’s and a seller’s market can be overwhelming.
- With a home evaluation, you’ll have a strong comprehension of all the factors that impact your home’s value.
- You’ll have a firm idea of what is reasonable to expect to sell your home for. Whether you want to downsize and live off the profits of selling your house or use it as a stepping stone to help buy a bigger house, you must have an accurate idea of how much your home could sell for.
- You can determine if home renovations will pay off or not. Renovating your home to make it more pleasant for you to live in is always a good idea, but it doesn’t necessarily add value to your house.
- A free Ontario home evaluation can give you insight into how much more your house would be worth if you renovated your kitchen or added an extra bathroom.
- You can ensure that you have the right amount of home insurance coverage in place. Your insurance company’s evaluation may need to be updated to reflect your home’s current value.
- A proper property value assessment helps ensure you have enough coverage to give you the financial protection you need.
Factors that Determine
Your Property Value In Ontario
We touched briefly on this earlier, but we will now explain in more detail the factors that impact your property value:
Where your property is located
Properties in large cities will cost more than properties in small cities. Also, how close your home is to schools, malls, parks, and public transportation all impact the value of your property.
The size of your home and lot
The size of your home is often referred to as the amount of “square feet” it offers. So, the bigger the home, the higher it’s likely to be valued at.
The size of the lot it’s on also impacts the property value. Some buyers may be looking for big front and backyards, which can be hard to find, and these increase the value of a house.
The type of property you have
A detached home can command a higher price than a semi-detached home or a townhouse. Features like an attached garage are very attractive and add to the value of your home.
The age and condition of your home
While older homes can offer unique features that newer homes lack, they often require more money to maintain and heat, which can impact the value they are assessed at.
A run-down or poorly maintained home will have a lower value than a similarly sized one in good condition.
Any upgrades or renovations you’ve done
A newly renovated home can be quite attractive to buyers, as are upgraded appliances. These can both increase the value of your home.
Why Choose Our Property
At the Benczik Kavanagh real estate team, we pride ourselves on offering top-notch services to our clients. We have over thirty years of experience serving York Region. We know the real estate trends as we both live and work here, and we bring that expertise to every free home evaluation we provide.
When we put together a property evaluation, we use a comprehensive evaluation method to make sure we provide you with the detailed results you deserve. We’ll take into account the unique features your home offers, as well as its location and overall condition.
Our evaluation will also provide you with information on both recent sales in your area as well as competing properties and general market trends.
Finally, with Benczik Kavanagh, we deliver customer satisfaction. We’re here to answer any questions you may have about the home evaluation process and ensure that your home sells for top dollar.