Get a Home Estimate
By Kristin Doucet | 2 minute read
Whether you’re thinking of buying or selling a home, one of the first steps in the real estate journey is finding out how much your home is worth. To help consumers determine an independent and unbiased assessment of their property value in today’s market, Wahi has released its latest state-of-the-art tool, the Bestimator.
Wahi’s Bestimator provides a free estimate (“Bestimate”) of the market value of your home with up to 90% accuracy. It’s calculated using 19 years of sold data from your neighbourhood, and takes less than five minutes to obtain. Simply enter your address for a quick preliminary Bestimate. From there, you can improve the accuracy of your Bestimate by including any missing information. For example, updating the details of your home ⸺ from the number of bedrooms, bathrooms and parking spots to property taxes and renovations ⸺ will result in a more precise estimate. The Bestimate changes in response to market trends, housing inventory, seasonal demand and other conditions that impact home sales.
For buyers, a home value estimate can provide a more accurate indication of a home’s worth compared to the list price. You can also use the Bestimator to check the value of homes in the area you want to live in to ensure your offer is competitive and to avoid overpaying. In a hotter sellers’ market, where bidding wars are more common, knowing the real value of a home can be particularly helpful when there are multiple competing offers.
For sellers, understanding the market value of your home can help you price your home accordingly based on current market conditions and other factors.
Once you have your Bestimate, you can compare it with similar properties recently sold or currently on the market in your neighbourhood. This market comparison gives you the knowledge you need to make an informed decision when buying or selling a home.
“The Bestimator tool allows you to keep pace with market trends and changing home values, affording consumers more control and clarity in the real estate journey.”
How the Tool Works
The Wahi Bestimator uses 19 years of sold data from your neighbourhood and our proprietary algorithm to help you get the most from your home. Our calculations are based on today’s market trends and property attributes, including:
- location, such as neighbourhood;
- building information, such as property type, year built, and style;
- exterior information, such as parking spaces, types of parking (e.g., garage), and patios;
- interior information, such as square footage, number of bedrooms and bathrooms, home renovations; and
- fee information, such as annual taxes and condo/maintenance fees.
It’s important to keep in mind that the Bestimate is an estimation, not a home appraisal.
Home values are always fluctuating depending on market and economic conditions, buyer demand, and other factors. The Bestimator tool allows you to keep pace with market trends and changing home values, affording consumers more control and clarity in the real estate journey.