4 key factors affecting the value of your home
Location of your home
Size, age and condition of your property, including any renovations or updates
The housing market
The economy and interest rates
Estimate your home's current value
Here are 2 ways to help you estimate the value of your home:
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.
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.
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