Ontario Home Value Guide - Understand what your home is worth, when you need an appraisal, and why.

What affects your home’s value?

Location & Neighbourhood

Lot Size

Home Size & Layout

Age & Condition

Renovations

Comparable Sales

When might you need a professional appraisal?

Mortgage or Refinancing

Estate or Probate

Divorce or Separation

Capital gains / Tax

Private Sale

Property Dispute

How is a Home’s Value Determined?

Step 1: Define the Property & Purpose

The appraisal begins by identifying the property and the purpose of the valuation. The reason for the appraisal and the effective date of value help determine the appropriate approach and information required.

Step 2: Inspect the Property

The appraiser examines relevant characteristics of the home, such as its size, layout, condition, quality, renovations, lot, location, and other features that may affect value.

Step 3: Research the Local Market

Recent sales and current market conditions in the surrounding area are analyzed. The appraiser considers factors such as neighbourhood trends, supply and demand, and the types of properties buyers are purchasing.

Step 4: Compare Similar Properties

Recent sales of comparable homes are selected and compared with the subject property. Differences in features such as location, lot size, living area, condition, renovations, garages, and other characteristics are considered.

Step 5: Reconcile the Evidence

After reviewing the available market evidence and applicable valuation approaches, the appraiser reconciles the information to develop a supported opinion of the property’s market value as of the effective date.

About

Helping Ontario Homeowners Better Understand Property Value

Ontario Home Value Guide is an educational resource for homeowners who want to better understand residential property values and home appraisals in Ontario.

Learn what can affect the value of a home, how professional appraisers evaluate residential properties, and why an appraisal may be needed for situations such as refinancing, estate planning, separation, renovations, or other important financial and property decisions.

Our goal is to make home valuation easier to understand through practical, straightforward guides created for Ontario homeowners.

Understand What Your Ontario Home is Worth and Why

Learn how Ontario homes are valued, what affects market value, when a professional appraisal is needed, and how appraisers determine value.

What affects your home’s value?

Location & Neighbourhood

Lot Size

Home Size & Layout

Age & Condition

Renovations

Comparable Sales

When might you need a professional appraisal?

Mortgage or Refinancing

Estate or Probate

Divorce or Separation

Capital gains / Tax

Private Sale

Property Dispute

How is a Home’s Value Determined?

Step 1: Define the Property & Purpose

Step 2: Inspect the Property

Step 3: Research the Local Market

Step 4: Compare Similar Properties

Step 5: Reconcile the Evidence

About

How is a Home’s Value Determined?

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