Your property value depends on more than location and size. Buyers and appraisers look at several key factors when deciding what your home is worth.
Start with location. This includes the neighbourhood, nearby schools, and access to services. Homes in quiet areas with stable demand usually hold value better.
Next is size and layout. Total square footage matters, but so does how the space is used. A functional layout with good flow adds more value than just more space.
Condition plays a big role. Updated homes with well-maintained systems—like the roof, windows, and plumbing—tend to appraise higher. Signs of wear or neglect bring value down fast.
Comparable sales in your area are another big factor. Appraisers look at recent sales of similar homes nearby to help set your property value. If prices around you are rising, yours might too.
Upgrades can help, but not all renovations add the same return. Kitchens, bathrooms, and flooring tend to boost value more than things like landscaping or basement bars.
The market itself matters. In a seller’s market, buyers may pay more. In a slower market, even great homes might take longer to sell or sell for less.
Finally, zoning and lot size can affect long-term value. A larger lot or flexible zoning may attract buyers looking for future options.
If you want a closer look at your own property value, talk to a local agent. They can show you recent sales and help you price with the market.
