How Much Is My House Worth Canada?
Location is the number one point when it comes to figuring out house price in Canada.
You could always update the look of your home, from new windows to a coat of paint to even adding on extra room. However, the location is one thing that can not be changed. Even if you have an historic home that was once worth a great deal of money, if the neighborhood has changed, it will decrease the cost.
Then again, there are areas that are now labeled as “up-and-coming.” If you purchased your home at a time when the market was low and the location is increasing in popularity, you might be able to ask for more than your purchase price.
Keep in mind that potential buyers are usually willing to compromise on a home that might not tick all the boxes on their wish list if it happens to be located in an up and coming neighborhood. A single family dwelling might cost over a million dollars in a promising suburban area while the same style of home might only cost a few grand in an urban location.
What is the school system like? How high are the property taxes? Are there any parks, museums or other cultural aspects? How low is the crime rate? All of these factors come into play when determining the market value of your home.
- What are similar homes in the area going for currently?
One of the best ways to figure out how much my house worth Canada is to check out the market value of homes that are similar to yours in the area in which you reside. For example, if you have a two-story, three bedroom, 2 bath home, you will take a look at similar homes with 2 stories, 2 baths and 3 bedrooms in your area to see what the current resale value is on that home. Check out a few similar properties to get an average of the real estate trends in your area at the current time.
- What sets your home apart from the rest?
One thing that will help increase the market value of your home are the special features it offers. Does it offer an open floor plan? Any built-in cabinets? How big are the closets? These special characters will add more to the resale value:
- How much closet and storage space?
- Does it have a driveway? Garage?
- What type of flooring? (Carpeting vs hardwood floors?)
- Is there a backyard? Is it fenced in?
- Are there any special features such as an underground pool, hot tub, in-law-suite, etc?
Some folks may wish to invest in a “fixer-upper”, but the majority of potential buyers are looking for homes that are turn-key and require little to no repairs or renovations. A home that is not in need of improvement will get a higher ROI than one that is in desperate need of home improvement.
New windows and doors could help boost the market value of your home. Contact North Tech Windows and Doors for a free quote for quality and energy efficient doors and windows today.