Home Value Estimator: What is My Home Worth?
Get an instant home value estimate and get so in the know about your most precious asset.
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The Benefits of Choosing Wahi’s
Home Value Estimator
The benefits of using Wahi’s free home value calculator tool are endless.
The Algorithm Harnesses Real-Time Market Data
First, Wahi’s proprietary home value estimation algorithm is one of the most intelligent on the market. It uses real-time market trend data, along with the most unique characteristics of your home, to come up with an accurate valuation (not to brag, but our tool has a 90% accuracy rate predicting a home’s value). Examples of characteristics that our home valuation tool takes into account include the neighbourhood your property is located in, the type and size of the property, and the age of the property. The algorithm also considers both the exterior features of your home, like landscaping and parking, as well as the interior features, ranging from the number of bedrooms and bathrooms to the square footage and annual maintenance fees.
You Can Receive A Free Property Valuation in Minutes
Drawing on the latest market intel coupled with your home’s most distinct characteristics, you can receive a free property value estimate in minutes. You can even continue to use the Wahi home value calculator tool to track your property’s value as it fluctuates over time. Armed with this valuable information, you will be able to curate an effective selling strategy that allows you to sell your property in no time.
Six Factors that Impact Your Home’s Estimated Value in Canada
Whether you choose to hire a realtor or sell your home by yourself, the first step is estimating the value of your home. As any real estate professional will tell you, determining the value of any property is far from simple. For the most accurate and reliable estimation, use Wahi’s home valuation tool. Our complex algorithm extracts the most important factors about your home before calculating its value. Six factors that impact your home’s estimated value, all of which Wahi’s home valuation tool takes into account, can be found below:
Home address
The exact location of your home can also impact its valuation. Homes in more desirable neighbourhoods, with lots of parks and quality schools, are likely to be worth more than those in less desirable neighbourhoods, such as those with high crime rates.
Property type
The type of property you live in can also affect your home valuation. There are many different types of homes out there, from row houses and townhouses to duplexes, bungalows, apartments, condos, two-storey homes, and more. Generally speaking, detached homes will be valued higher than attached homes.
Size
The size of your home also has the ability to affect your home valuation. Specifically, the Wahi algorithm will look at the square footage of your home, along with the number of bedrooms and bathrooms. As you might suspect, the larger the home, the higher the valuation.
Age and condition
The age and condition of your home is another factor that can impact its value. Older homes may have lower estimates since they usually come with higher maintenance, heating, and cooling costs. Further, properties built during certain time frames are known for the use of specific building materials, like asbestos or Poly-B plumbing, which also have the ability to influence home values.
Renovations and upgrades
The reality is that homes with outdated features tend to be valued lower than those with modern features. In order for the home to have modern features, it was likely recently built or recently renovated. Please note that certain renovations, like a new kitchen or ensuite bathroom, tend to have a greater impact on the value of a home compared to other types of upgrades.
Local real estate market
Lastly, the local real estate market in your area will have a direct impact on your home’s value. If it’s a seller’s market, meaning the demand for a home in your neighbourhood outpaces the supply, you can expect your home to be valued higher than if it’s a buyer’s market where the opposite is true.
Other Ways of Estimating Your Home’s Value
Although Wahi’s free online home valuation tool provides users with an extremely precise estimation, it isn’t the only way to know the value of your home. In fact, there are two other methods sellers commonly use to do this, both of which are in-person. The first is a home appraisal. During a home appraisal, a professional home appraiser visits your property, evaluates its interior and exterior, measures its size, and compares it to other recently sold homes in the area, before determining its value. The second is a comparative market analysis. Comparative market analyses are performed by real estate professionals and involve analyzing local market trends and comparing your home to other comparable properties in the area to calculate its value. While not as in-depth as home appraisals, conducting a comparative market analysis is still worth your time if you want to successfully price and sell your home.
Take Advantage of Wahi’s Free Home Valuation Tool Today!
Do you keep wondering, “What is my home worth?” Then you’re ready to receive your free home valuation! Know the value of your home in minutes with Wahi’s home value estimator. Once you know your home’s value, you’ll be ready for the next step in your selling journey, and Wahi wants to help. Get in touch with us and we will match you with a reputable realtor in your area. Wahi currently serves all of Ontario, including Toronto and the GTA. Once you’ve matched with them, they can use their local knowledge and expertise to assess your home, affirming the estimate provided by Wahi. They can also guide you through the entire selling process, offering expert advice on the best way to make the sale.
Beyond our precise home valuation tool, we also encourage our users to take advantage of Wahi’s other services, like personalized listings and open house schedules, all of which are available on the Wahi app. Whether you’re buying a home or selling one, Wahi is here every step of the way.