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Home ownership

Assessing the value of your home Add to ...

4 key factors affecting the value of your home

  1. Location of your home

  2. Size, age and condition of your property, including any renovations or updates

  3. The housing market

  4. The economy and interest rates

Estimate your home's current value

Here are 2 ways to help you estimate the value of your home:

  1. Talk to real estate agents – They may estimate its value for free and should be able to tell you what other homes in your area have sold for.

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  2. Pay an appraiser – Ask your bank or real estate agent to recommend someone.

Estimate your home's future value

Find out how house prices in your area have changed over the years.

This table shows the change in house and condo prices in 12 Canadian cities from 1990 to 2010. Note that these figures include a sharp rise in prices in the last few years, but there's no guarantee what housing prices will do.

City​Price,
1990
​Price,
 2010
Compound
yearly
growth
 rate
​Halifax$​97,238$​242,000​4.7%
​Saint John$​78,041$​174,000​4.1%
​Quebec City$​81,462$​238,500​5.5%
​Montreal$​111,197$​284,000​4.8%
​Ottawa$​141,562$​342,000​4.2%
​Toronto$​254,890$​409,000​2.4%
​Windsor$​106,327$​182,000​2.7%
​Greater Sudbury$​108,596$​232,000​3.9%
​Winnipeg$​81,740$​238,000​5.5%
​Saskatoon$​76,008$​294,500​7.0%
​Calgary$​128,484$​382,000​5.6%
​Vancouver$​226,385$​638,000​5.3%

Source: Canadian Real Estate Association

Do your research: Use this investment calculator to estimate the future value of your home. Also, check out current house prices in major Canadian cities.

Content in this section is provided in partnership with Investor Education Fund, a non-profit organization founded and supported by the Ontario Securities Commission that provides unbiased and independent financial tools to help Canadians make better money decisions. To find out more, go to: GetSmarterAboutMoney.ca

Follow us on Twitter: @GlobeInvestor

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