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Property Value Calculator

 

How much is your home worth today ?

We can make a rough estimate of the value of your home based on what you originally paid for it and how property values have changed since you bought it.

Property Value Estimation
Original Purchase Price:
Year Bought:  
Month Bought:  
Day Bought:  
Estimated Value Today:  

Doing an estimate of this kind presupposes certain things.

  1. It assumes that you paid fair value for it in the first place. This is most likely true, but if you think you got an exceptional bargain, or if you 'just had to have it no matter what', and paid a bit over the top as a consequence, then others you would like to attract as potential buyers may perceive a greater or lesser value.
  2. It assumes that you have not made any significant improvements such as an extension, solarium, finished basement, garage, or something of the kind. Not all significant improvements add to the property value, and almost all return less than they cost, but the fact you have made some may invalidate this calculation, since their effect will not be considered.
  3. It assumes that you have maintained your property in good condition since you purchased it, which means keeping the paintwork up to date, repairing the roof or anything else that needs attention, replacing the carpets when necessary, and generally looking after things. If your property has deteriorated relative to others of its age, type and location, then this calculation will not factor in the decline in your property's relative value.
  4. It assumes that you have made appropriate upgrades to keep it up to date. Basically a similar idea to the previous one, but more subtle. If it could do with new windows, a new kitchen, ceramic flooring, a high efficiency furnace, or improved insulation because these are 'the' things to do in the way of home renovation in your area, and buyers have come to expect them with a property of the same type and general location as yours, then the value of your home will suffer for lack of them.
  5. It assumes that there have been no significant issues unrelated to the property which might affect its value. If a new fire station was built next door, or the road was widened and now carries a high volume of traffic, not all buyers will perceive these as positive changes. Some might even want to pay less for your property as a result. Of course, you could be living in an area which has undergone urban renewal, or has become the latest and greatest place to be, with a consequent increase in perceived value.
These examples are given by way of illustration and warning. They are not intended to be an exhaustive list, and you should exercise your imagination to consider what factors might affect the value of your property other than simple house price inflation. If you are planning to sell then rather than rely on this calculation and some guesswork, you should call Dot since she is experienced in analysing the market value of residential property in the general Kitchener-Waterloo area. This calculator will not know anything about significant or necessary changes which have or have not taken place in or around your home, it will not take them into account in estimating a fair market value.

CAUTION: this calculator is only a rough guide. The results are dependent upon average property value changes in the Kitchener-Waterloo region of Ontario, Canada, so results cannot be considered remotely valid outside of the KWREB area. Regardless of the result, the market value of your property could be affected by many factors. It is therefore important that you obtain a current market analysis (CMA) from a qualified local Realtor if you wish to gain a true appreciation of the present value of your property for the purpose of marketing it. Beware in case a less than entirely scrupulous Realtor is tempted to give you an unrealistically high estimate of the value of your property in the hope of securing a listing for it. This would not be in your best interests as explained elsewhere.

 

Site owner: Dot Turner, Sales Representative, Team Realty K W Inc, Brokerage 519-741-1400

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